Citi Prequal with BK

Anonymous · ‎03-18-2019

New to the forums here, but read a lot and have been learning a lot.

I was curious if anyone else receives prequalify offers from Citi that have BK. I’ve read that Citi will consider you if you are 7 years post BK. My discharge is suppose to drop off in June this year (Ch7, it’s been almost 10 years), however I have never received a prequalify offer from Citi and that is the only brand card I’m interested in. I was wondering if it was because of my utilization or my BK.

My Fico 8 scores are 710 Exp 715 TU and 715 EX

I haven’t appd for a credit card in about 5 years, overall utilization is at 48%. Have a mortgage, cars, etc. Income is about $180k+

I just don’t want to app if I can’t prequalify. I’ve had perfect credit for 10 years

Anonymous · ‎03-19-2019

Have you tried the prequalification link on this site?

I would just let that BK drop off first before applying. I have seen several people on here report that they have gotten cards in less than 7 but I have also seen many others say Citi auto declines with a BK showing and you need to call reconsideration number to get approved. Just wait the 3 months....also I would probably drop that utilization below 30% for best chance of a decent limit.

jetsfan2013 · ‎03-19-2019

I would also wait until the BK falls off. I still have 18 months until my 7 will fall off all reports (discharge 2011), however have had 2 friends share once their BK fell off they got prequal and approvals from Citi and Barclays. One in particular has the Double Cash card as his daily driver, and bailed on Capital One, which was his only CC post BK (he kept that Cap One for nearly eight years, it grew to 7,500 before he closed it).

Road to rebuilding starts soon

Loquat · ‎03-19-2019

OP. Since you're this close to having it fall off I would wait. With that being said, my BK13 is alive and well on my report. Citi only seems to pull EQ for me. I've never prequalified for any of their products via their website but in my aresenal of cards I do have the Double Cash, AAdvantage, Premier, Best Buy Visa, Simplicity and Diamond Preferred. With the exception of a verification call I've never had any issues with them and I did burn with in my BK13 for a low limit Home Depot card.

Again, since you're so close to your BK falling off I'd just wait it out a little bit more.

imaximous · ‎03-19-2019

@Loquat wrote:
OP. Since you're this close to having it fall off I would wait. With that being said, my BK13 is alive and well on my report. Citi only seems to pull EQ for me. I've never prequalified for any of their products via their website but in my aresenal of cards I do have the Double Cash, AAdvantage, Premier, Best Buy Visa, Simplicity and Diamond Preferred. With the exception of a verification call I've never had any issues with them and I did burn with in my BK13 for a low limit Home Depot card.

Again, since you're so close to your BK falling off I'd just wait it out a little bit more.

Just a bit off-topic here... Have you been able to get any CLIs? I've read that while you may get approved for a card, CLIs get auto-declined because of the BK.

OP, I got 3 Citi cards with BK7 showing. 2 business (Costco & AA) and 1 personal (Prestige). I never got prequals either but my approvals came after the 7th year post BK. Apps for DC and Prestige before 7 yrs got declined, IME. Also, my approvals were automatic -- no recon or any verifications required.

If I were you, I'd wait till BK is off my reports and join with a clean file. You're really close. What you could also do to be proactive is submit a request for early exclusion. You might be able to get the BK removed earlier than June.

RCFL · ‎03-19-2019

I applied for Citi TYP last year without any pre-qual from them and was approved for 3k. It wasn't immediately, I got the approval email from them about 3 days after I applied. I burnt them in my 2010 Chapter 7 Bk.

Anonymous · ‎03-19-2019

Wow such great info thanks guys!

I tried calling TransUnion about 4-5 times for an early exclusion and it’s currently in “dispute” status. It left me so frustrated because I wasn’t disputing the BK. Every time I call now they say I have to wait until -April 10th.... I suppose I can always try to get it off Experian, but I found early exclusions to be a pain.

It seems like prequals will not work with BK. That was my assumption.

Imaximus. If you don’t mind, what were your scores, income, utilization etc. when you were approved for your Prestige card? That is the main one I’m after.

Anonymous · ‎03-19-2019

I have never gotten a Citi prequalification offer but did cold app and now have a Citi TYP and Citi Simplicity. I was approved for my first Citi Card Jul 2018 for $4,500 with a Chapter 7 BK of 8.5 years (I did not burn them in BK).

Anonymous · ‎03-19-2019

Nice!

Btw I did not burn Citi. I’m concerned that my utilization at 48% currently is my biggest problem. I know the goal is 30%. For everyone getting approved, what was your current utilization? I feel like that is only thing I would get declined over.

imaximous · ‎03-19-2019

@Anonymous wrote:
Wow such great info thanks guys!

I tried calling TransUnion about 4-5 times for an early exclusion and it’s currently in “dispute” status. It left me so frustrated because I wasn’t disputing the BK. Every time I call now they say I have to wait until -April 10th.... I suppose I can always try to get it off Experian, but I found early exclusions to be a pain.

It seems like prequals will not work with BK. That was my assumption.

Imaximus. If you don’t mind, what were your scores, income, utilization etc. when you were approved for your Prestige card? That is the main one I’m after.

The EEs can be a hit or miss, but you can always try. Otherwise, you're only 3 months away. That time will fly. I'd still suggest you get in with a clean file if you can wait. Plus, it'll give you time to work on your current utilization.

This is a copy/paste from a recent DP I posted when another member asked:

Approved in early February this year. $20k SL.

Pulled EX only. Fico 8 was 759 with 8 INQs. Last INQ was in Aug 2018 for Citi Costco biz card.

13/24 personal cards. 15/24 if including 2 Citi business cards (Costco and AA). Those 2 cards were obtained within 6 months of Prestige app.

2011 BK7 showing on reports. Clean file otherwise.

Overal UTIL around 1% - 2% of $340k CLs at that time.

No banking relationship with Citi. Only 2 previous biz cards.

Income close to $200k.

Best of luck to you!