Gardening For Citi Premier or Simplicity

[NaimeseOGK]

Currently: 

Cap1 Platinum - $600 Limit - Opened Sept 27, 2016

Chase CSP - $5,000 Limit - Opened May 6, 2020

Cap1 QS - $300 Limit - Opened April 12, 2021

Chase SW Premier - $3,400 Limit - Opened July - 26, 2021- Not Reported On CRs Yet

US Bank Platinum -  $1,000 Limit - Opened August 3, 2021  - Not Reported On CRs Yet 

RC Auto Loan - $23,000 Remaining - Opened July 20, 2020

Rocket Loan Personal - $6,332 - Opened Aug 2, 2021 - Not Reported On CRs Yet.

Transunion - 704 (Vantage) 728 (Fico) 12 Inquiries (Most Recent  Jul 30, 2021)

Equifax - 728 (Vantage) 728 (Fico)   - 11 Inquiries (Most Recent Aug 2, 2021)

Experian - 701 (Vantage) 705 (Fico)  - 27 Inquiries (Most Recent Jul 30, 2021)

No Derogs 

Credit Uti -1%

2 Late Payments (Cap1 Platinum) December 2017 and October 2018

Do you think If i can garden for atleast 6 months (Jan or Feb) I would get approved?

I also have a checking account with Citi (Citi Priority) that I have had since April 2017 still going strong with them.

Approval Odds?

[Remedios]

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@NaimeseOGK wrote:

Currently: 

Cap1 Platinum - $600 Limit - Opened Sept 27, 2016

Chase CSP - $5,000 Limit - Opened May 6, 2020

Cap1 QS - $300 Limit - Opened April 12, 2021

Chase SW Premier - $3,400 Limit - Opened July - 26, 2021- Not Reported On CRs Yet

US Bank Platinum -  $1,000 Limit - Opened August 3, 2021  - Not Reported On CRs Yet 

RC Auto Loan - $23,000 Remaining - Opened July 20, 2020

Rocket Loan Personal - $6,332 - Opened Aug 2, 2021 - Not Reported On CRs Yet.

Transunion - 704 (Vantage) 728 (Fico) 12 Inquiries (Most Recent  Jul 30, 2021)

Equifax - 728 (Vantage) 728 (Fico)   - 11 Inquiries (Most Recent Aug 2, 2021)

Experian - 701 (Vantage) 705 (Fico)  - 27 Inquiries (Most Recent Jul 30, 2021)

No Derogs 

Credit Uti -1%

2 Late Payments (Cap1 Platinum) December 2017 and October 2018

Do you think If i can garden for atleast 6 months (Jan or Feb) I would get approved?

I also have a checking account with Citi (Citi Priority) that I have had since April 2017 still going strong with them.

Approval Odds?

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If you have lates, you have derogs. 
Citi can be pretty twitchy when it comes to negatives, and also you've had a lot of activity recently. 

If lates are old, it should be okay. 

If they are within last 2-3 years, very iffy. 

Gardening will help with that, but I think you might need more than 6 months for the best results. 

[NaimeseOGK]

I figured. When i read my denial letter they told me to many recent inquiries. I also called and asked they told me try again in about 6 months. The lates are basically past 3 years now I believe now theyre not bothered by them. I would hope they don't use that as an excuse the next time I apply lol

[Remedios]

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@NaimeseOGK wrote:

I figured. When i read my denial letter they told me to many recent inquiries. I also called and asked they told me try again in about 6 months. The lates are basically past 3 years now I believe now theyre not bothered by them. I would hope they don't use that as an excuse the next time I apply lol

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I hope so. 

If either one of those cards is a good fit for you, do nothing for a while.

Let the dust settle, enjoy your new cards, and try again.

Hopefully they only pull one CRA for you, so really, no harm in trying when you're ready if those cards are a good fit for you. 

When I was approved for Premier, it came at the tail end of very active period (about three or four new accounts within two months) and it was reflected in my SL and APR.

SL was $5200 and highest APR.

It kinda grew, 20 months later it's 10,200 and I asked for APR reduction out of boredom, so currently lowest rate.

I should have waited but live and learn. 

[NaimeseOGK]

Awesome. This is the plan im not in a rush. Im Gonna enjoy my new cards and let my new personal loan age so I can get good results when applying for it. Thanks for the advice!

[SouthJamaica]

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@NaimeseOGK wrote:

Currently: 

Cap1 Platinum - $600 Limit - Opened Sept 27, 2016

Chase CSP - $5,000 Limit - Opened May 6, 2020

Cap1 QS - $300 Limit - Opened April 12, 2021

Chase SW Premier - $3,400 Limit - Opened July - 26, 2021- Not Reported On CRs Yet

US Bank Platinum -  $1,000 Limit - Opened August 3, 2021  - Not Reported On CRs Yet 

RC Auto Loan - $23,000 Remaining - Opened July 20, 2020

Rocket Loan Personal - $6,332 - Opened Aug 2, 2021 - Not Reported On CRs Yet.

Transunion - 704 (Vantage) 728 (Fico) 12 Inquiries (Most Recent  Jul 30, 2021)

Equifax - 728 (Vantage) 728 (Fico)   - 11 Inquiries (Most Recent Aug 2, 2021)

Experian - 701 (Vantage) 705 (Fico)  - 27 Inquiries (Most Recent Jul 30, 2021)

No Derogs 

Credit Uti -1%

2 Late Payments (Cap1 Platinum) December 2017 and October 2018

Do you think If i can garden for atleast 6 months (Jan or Feb) I would get approved?

I also have a checking account with Citi (Citi Priority) that I have had since April 2017 still going strong with them.

Approval Odds?

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Citi has become very tight over the last year.  Until they reverse course, I would not have my heart set on Citi cards and wouldn't waste any hard pulls on them.

[Loquat]

+1 to what @SouthJamaica posted.  I've been reading around the webs and it seems like data points from lots of other places are showing that Citi has really tightened up as of late.

[Citylights18]

The one advantage I see with Citi Premier is if you do go with them right now you have the possibility of transfering any earned points over to American Airlines plus they are offering a 80,000 point SUB.

If you combine with a Custom Cash and set the 5% to restaurants you could produce the following numbers.

5x Restaurants

3x Groceries

3x Gas

3x Hotels

3x Flights

Can you squeeze as much value from the travel partners though? If you are a Jet Blue fan then yes. Otherwise it might be tough.

https://thepointsguy.com/news/citi-thankyou-premier-should-this-be-your-next-card/