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Citi MC New Offer - Worthless?

mark3038
Established Contributor

Citi MC New Offer - Worthless?

Citi sent me this Valuable (worthless) offer. I mean I do love Citi Bank but really? What are they thinking?

Thanks

Mark

 

citi.jpg

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
13 REPLIES 13
AverageJoesCredit
Legendary Contributor

Re: Citi MC New Offer - Worthless?


@mark3038 wrote:

Citi sent me this Valuable (worthless) offer. I mean I do love Citi Bank but really? What are they thinking?

Thanks

Mark

 

citi.jpg


For someone in your position, ie lots of options, not great but for someone with high aprs/balances not badSmiley Wink. Citi can be weird on what offers they offer lol.

Message 2 of 14
Yasselife
Established Contributor

Re: Citi MC New Offer - Worthless?

How're your scores now, Mark? I read you have over 100 inquiries, makes me wonder.

@mark3038 


Message 3 of 14
mark3038
Established Contributor

Re: Citi MC New Offer - Worthless?


@Yasselife wrote:

How're your scores now, Mark? I read you have over 100 inquiries, makes me wonder.

@mark3038 


As of yesterday there where between 809 and 825 off of memory. As I stated before, some people reallly worry that a HP will kill your scores and I have as you said just over 100 between all three agencies. I think it is more my thick profile and age of some very old cards. I check my reports daily and no matter how many new inquries and no matter how many fall off my scores never change at all over inquries that I can pick up on.

 

I was always in the 775 to 788 range until my new car loan showed at 52% paid off then I had the score jump about 2 months ago, other then that just the typical new cards that I always get. I assume that the car loan pay down was the reason for the jump in scores but do I know for sure? not at all LOL

Thanks

Mark

Please note; My postings are my opinion only. You can accept them or reject them. Thanks, Mark
Message 4 of 14
NRB525
Super Contributor

Re: Citi MC New Offer - Worthless?

Well, in FICO scoring, the first item affects score a lot the second a bit less, third less still, and so on. By the time one reaches 100 INQ, the score is really tired of them, and doesn't move.

 

There are other aspects, including new accounts, but there again, piling on the same thing eventually stops impacting score. 

 

Even lates of exactly the same type will stop affecting score if one has enough. With lates, however, multiples of lates tend to lead to escalating issues, --> 60 days, then 90 days, then charge off or BK. 

So someone with a very thick file, low utilization, and no lates should be near 850... except for all the INQ and new accounts Smiley Happy

High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 5 of 14
micvite
Frequent Contributor

Re: Citi MC New Offer - Worthless?


@NRB525 wrote:

Well, in FICO scoring, the first item affects score a lot the second a bit less, third less still, and so on. By the time one reaches 100 INQ, the score is really tired of them, and doesn't move.

 

There are other aspects, including new accounts, but there again, piling on the same thing eventually stops impacting score. 

 

Even lates of exactly the same type will stop affecting score if one has enough. With lates, however, multiples of lates tend to lead to escalating issues, --> 60 days, then 90 days, then charge off or BK. 

So someone with a very thick file, low utilization, and no lates should be near 850... except for all the INQ and new accounts Smiley Happy


Yeah, I was in the same boat, hovering around 740 with almost 100 between all 3 (32 ex, 39 TU and like 26 eq) the late from 4 years ago is what's really holding my scores back lol

Ex: 742, TU: 726, EQ: 733 03/31/2021
Discover it cashback: $7400
Citi DC: $13000
WF Propel: $2000
Amex BCED: $3000
Amex Gold: $NPSL
Amex Plat: NPSL
Cap1 QS: $3200
Cap1 VX $30k
VS CC: $2100
Kohls: $3000
Synchrony car care: $5000
Message 6 of 14
Trini88
Established Contributor

Re: Citi MC New Offer - Worthless?


@NRB525 wrote:

Well, in FICO scoring, the first item affects score a lot the second a bit less, third less still, and so on. By the time one reaches 100 INQ, the score is really tired of them, and doesn't move.

 

There are other aspects, including new accounts, but there again, piling on the same thing eventually stops impacting score. 

 

Even lates of exactly the same type will stop affecting score if one has enough. With lates, however, multiples of lates tend to lead to escalating issues, --> 60 days, then 90 days, then charge off or BK. 

So someone with a very thick file, low utilization, and no lates should be near 850... except for all the INQ and new accounts Smiley Happy


I don't even think you have to wait till you have  a lot of inquiries to not move. My credit score on Experian was 738 with 10 inquiries. I added 5 more inquiries and new accounts and it still was stuck at 738, never budged. Finally this month it moved to 739 🤔



Goal Cards:
Message 7 of 14
Brian_Earl_Spilner
Community Leader
Mega Contributor

Re: Citi MC New Offer - Worthless?


@NRB525 wrote:

Well, in FICO scoring, the first item affects score a lot the second a bit less, third less still, and so on. By the time one reaches 100 INQ, the score is really tired of them, and doesn't move.

 

There are other aspects, including new accounts, but there again, piling on the same thing eventually stops impacting score. 

 

Even lates of exactly the same type will stop affecting score if one has enough. With lates, however, multiples of lates tend to lead to escalating issues, --> 60 days, then 90 days, then charge off or BK. 

So someone with a very thick file, low utilization, and no lates should be near 850... except for all the INQ and new accounts Smiley Happy


Exactly. In my case, once I hit 9 inquiries I stop losing points. In addition, iirc, a good amount of his inquiries were auto.

    
Message 8 of 14
SouthJamaica
Mega Contributor

Re: Citi MC New Offer - Worthless?


@mark3038 wrote:

Citi sent me this Valuable (worthless) offer. I mean I do love Citi Bank but really? What are they thinking?

Thanks

Mark

 

citi.jpg


Agreed that it's pointless, but I usually "activate" these offers, just in case. Of course I never use them. 

 

But I must admit I've never seen one for 9.99% APR, which is only 7 points lower than your standard APR.  I'm pretty sure the ones I've seen have been for 0%.


Total revolving limits 684000 (587000 reporting) FICO 8: EQ 715 TU 712 EX 695

Message 9 of 14
Cory88
Frequent Contributor

Re: Citi MC New Offer - Worthless?

I get offers on my Citi card all the time, most of my offers are 5.99% to 0.00% for 9 to 12 months at a time my standard rate is 7.5% and had the card since 2007. I look at it 9.99% APR offer is better then the 16.99% APR on the account.

Message 10 of 14
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