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How long after closing a card account should I wait to re-apply? (Citibank)

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Anonymous
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How long after closing a card account should I wait to re-apply? (Citibank)

I just closed my Citi Double Cash card. How long should I wait before applying for a new one?

 

 

In case you're wondering....... why?

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I defaulted on 1 payment in the Summer of 2012. I haven't missed a beat since. I've asked 5 times to get this lowered recently, and they absolutely will not budge. This time I got mad and just said "close it." I know, I know.... "Pay in full and don't worry about it". But it just bugs me to no end that they won't take care of me. Fico scores are in the mid 760s, but they didn't care about that either. The part I really don't get is that I've seen several people on here just simply go on Citibank's chat..... sometimes twice in one week and they have said Sure....no problem.... we'll knock another 2% off. 

Message 1 of 7
6 REPLIES 6
Anonymous
Not applicable

Re: How long after closing a card account should I wait to re-apply? (Citibank)

I have a similar experience, I never had a late payment or anything, but ever since I got the card I've been at 23.24% APR, and I've asked multiple times if it could be lowered and all I get is "oh, we don't see any offers on your account right now"... It's been very frustrating, and even though I have yet to pay any interest anyway, it's the principle of the matter, I've been a good customer and my score have also been around 760 consistently for at least a year at this point, and they won't budge.

 

As for your question, I'm not sure how long is a good period of time, but I would wait at least a couple months and see if you even still want it, or maybe find an alternative instead. I've been liking the Blispay card, but I know others have mixed feelings about the future of that card. (expecting it to be nerfed at some point)

Message 2 of 7
austinguy907
Valued Contributor

Re: How long after closing a card account should I wait to re-apply? (Citibank)

I remember your original thread on this one.  I'd say you made a good move if you didn't need the line regardless of the CL.  If you need something new to replace it then why not expand your horizons and see what else is out there and will be nicer than a stagnant Citi account?  760's should be good to go on just about anything out there right now.  What kind of plans do you have in the next year or two?  What's your objective for the new line of credit?  

Message 3 of 7
Credit_hawk
Established Contributor

Re: How long after closing a card account should I wait to re-apply? (Citibank)


@Anonymous wrote:

I just closed my Citi Double Cash card. How long should I wait before applying for a new one?

 

 

In case you're wondering....... why?

Capture.PNG

 

I defaulted on 1 payment in the Summer of 2012. I haven't missed a beat since. I've asked 5 times to get this lowered recently, and they absolutely will not budge. This time I got mad and just said "close it." I know, I know.... "Pay in full and don't worry about it". But it just bugs me to no end that they won't take care of me. Fico scores are in the mid 760s, but they didn't care about that either. The part I really don't get is that I've seen several people on here just simply go on Citibank's chat..... sometimes twice in one week and they have said Sure....no problem.... we'll knock another 2% off. 


I can imagine the frustration. I think the reason they haven't budged is the penalty APR from your 2012 default. I wouldn't be shocked if it stayed that way until 2019.

 

If youre asking how long should you wait to reapply for the DC, I'd say quite awhile. At least a year.

FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
Message 4 of 7
Anonymous
Not applicable

Re: How long after closing a card account should I wait to re-apply? (Citibank)

I actually got approved for a Discover It Card today, $3000. That 5% at Amazon is what got me. I'm an Amazon Junkee, LOL. Also, NO PENALTY APR in the small print. You never know.... what If I ever got laid off again?

 

As far as what my goals are..... I just wanted something to supplement my BoA 1,2,3 card in the categories that I only get 1% on. Using the BoA card on Gas and Groceries and then the Citicard for everything else would be pretty awesome, IMO. 

 

You guys have me totally hooked on this "making free money just by swiping" business. I've been making like $40 a month for doing nothing but swiping and paying it off. If I could 2% everything.....I bet I could make like $60. 

Message 5 of 7
austinguy907
Valued Contributor

Re: How long after closing a card account should I wait to re-apply? (Citibank)


@Anonymous wrote:

I actually got approved for a Discover It Card today, $3000. That 5% at Amazon is what got me. I'm an Amazon Junkee, LOL. Also, NO PENALTY APR in the small print. You never know.... what If I ever got laid off again?

 

As far as what my goals are..... I just wanted something to supplement my BoA 1,2,3 card in the categories that I only get 1% on. Using the BoA card on Gas and Groceries and then the Citicard for everything else would be pretty awesome, IMO. 

 

You guys have me totally hooked on this "making free money just by swiping" business. I've been making like $40 a month for doing nothing but swiping and paying it off. If I could 2% everything.....I bet I could make like $60. 


You're going to want to treat Discover a little differently though.  They like it slow and steady when it comes to spending.  When you rev the engine on them they'll deny you luv and tell you as much in the denial letter.  If you take it slow they'll reward you well over time.  Or you could push it and stay where you open longer than needed.  Patience and persistence are key with making them grow.  Around 60-90 days if you play your cards right you'll see a slight bump in your CL w/o asking and that's your cue to hit the CLI button as the door has opened.  Some have luck after that initial CLI at 30/60/90 day intervals.  I found some restraint recently after my first year was up with them to pull back to an every other month plan of attack and it paid off with my first $6K CLI instead of the $3-4K/CLI I was seeing before that change.

 

Here's my first year recap if you want to know more.

 

http://ficoforums.myfico.com/t5/Credit-Card-Approvals/My-first-year-with-Discover-Data-Points/m-p/4705523

Message 6 of 7
Credit_hawk
Established Contributor

Re: How long after closing a card account should I wait to re-apply? (Citibank)

I agree with everything Austinguy said. Thats a good starting limit with Discover and just spend normally. Don't feel compelled to artificially iinflate your spending to get a higher CLI. Treat it as a debit card, buy what you want, pay it off and watch those CLI's roll in. Discover is a fantastic card. You'll be pleased. They are very amenable with everything. I'll never get rid of them.

FICO- Experian: 797, TransUnion: 781, Equifax: 804 (Updated Monthly)
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