i already have card but this is for someone else. They don't know their credit score. Any baddies they had dropped off. They have years of student loan payments so they should have decent aaoa. They don't have much credit card history. 4 Inqs in past year. Total of three cards. Two store cards and a cap one plat rebuilder with 500 limit which was first card. Oldest card is 8 months old. Most recent was pier 1 with 3k limit. They have any chance for prestige? They can pick one citi card and have AF waived which is why I'm asking randomly about this card. They were denied by citi when they had no cards but that was 10 months ago and now the have 8 months of history. Garden until the year mark?
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@red259 wrote:i already have card but this is for someone else. They don't know their credit score. Any baddies they had dropped off. They have years of student loan payments so they should have decent aaoa. They don't have much credit card history. 4 Inqs in past year. Total of three cards. Two store cards and a cap one plat rebuilder with 500 limit which was first card. Oldest card is 8 months old. Most recent was pier 1 with 3k limit. They have any chance for prestige? They can pick one citi card and have AF waived which is why I'm asking randomly about this card. They were denied by citi when they had no cards but that was 10 months ago and now the have 8 months of history. Garden until the year mark?
Prestige is one of CITIs top tier credit products. Check the CITI pre approval and see if it pops up. Then have them check Credit Karma to at least get an idea of where they stand credit wise. If your friend is feeling lucky, apply. The worst they can say is no.
IMO their chances are slim with such a short credit history, no credit limits of at least $5k, only having 1 bank issued credit card (a very low limit one at that). Who knows if Citi even takes store cards into consideration.
Aside from being able to qualify for the minimum credit limit the Prestige offers, I highly doubt that it's anymore difficult to obtain than most of Citi's other credit cards. The benefits that the card offers are awarded because the member is willing to pay an AF (waivers aside), not due to any stricter underwriting requirements because it's Citi's premier offering. That being said, the longer he or she can wait, the better. The bank is known to be stingy with approvals for their products and may want to see additional credit card history, but I'm not an underwriter... that's just my guess.
@jsucool76 wrote:
remember Prestige starts at 5k and doesn't seem like they have any 5k+ cards.
What do you think she should get if anything? Could she get in with amex and grow the credit line? Better to just sit tight and wait until the first card is a year old? If so, will this be enough to be successful on citi app being her best limit is the pier 1 at 3k? I feel like at this point she may be able to get a prime card, but it would have to be a card that can grow with her since I think the line will be fairly low to start.
@jsucool76 wrote:
I'd recommend just applying for it, and if she gets denied to maybe wait a bit and app for a different citi card to get an in. I'm risky though, and I'm sure others will disagree.
alternatively maybe have them app for the premier. same signup bonus just slightly less in terms of point value when not transferred.
I think she can only get the fee waived on one product, so if she wasn't going for the prestige then another lender would be way to go. I'm going to have her check prequal website and see what it says.
@jsucool76 wrote:
#doublepost
also, why is she getting fee waived? is she a citi wealth management/private banking client? that might play a role in her credit decision, and if so I'd say talk to her private banker about it.
No, it has to do with work she does for citi. One of the perks.