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Need some recent data points on Citi and Chase cards

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Valued Member

Need some recent data points on Citi and Chase cards

Recently DW started to rebuild her credit and pif'ed here 3 cards Discover It, Capital one platinum and Credit one which have been carrying almost 90% balance since few months and her credit score dinged to high 500's with late payments recently. Now her score rose to around 650 after a month of 4% UTI and now she is looking to ditch that Credit one for good and she is eyeing at another card from a Prime lender.

Her Cap one has also been upgraded to a QS1.

She needs some data points on Citi and Chase card at her credit level. She is also interested in the Target Store card as she shops a lot there and i told her that it would change to a mastercard after few years of good use.



Cap One Platinum - $300
Cap One Walmart - $300
Merrick Bank DYL Visa - $600
Mission Lane - $750
Target/TD Bank - $300
Fingerhut - $400
Self Lender CD
8 REPLIES 8
Super Contributor

Re: Need some recent data points on Citi and Chase cards


@BurnedTheWorld wrote:

Recently DW started to rebuild her credit and pif'ed here 3 cards Discover It, Capital one platinum and Credit one which have been carrying almost 90% balance since few months and her credit score dinged to high 500's with late payments recently. Now her score rose to around 650 after a month of 4% UTI and now she is looking to ditch that Credit one for good and she is eyeing at another card from a Prime lender.

Her Cap one has also been upgraded to a QS1.

She needs some data points on Citi and Chase card at her credit level. She is also interested in the Target Store card as she shops a lot there and i told her that it would change to a mastercard after few years of good use.


That is certainly not guaranteed. Plenty of people have had Target cards for years with no Mastercard upgrade. The upgrades don't seem to follow much of a pattern.

 

IME, Citi is more lenient than Chase but I'm sure you can find people that feel the opposite.

Message 2 of 9
Moderator

Re: Need some recent data points on Citi and Chase cards

You can have DW check the pre-qualification tool for both Citi and Chase to see what it yields.   Besides the recent change in utilization, what other negatives are in her CR profile?  Has she recently obtained several new accounts?

Message 3 of 9
Valued Member

Re: Need some recent data points on Citi and Chase cards


@FinStar wrote:

You can have DW check the pre-qualification tool for both Citi and Chase to see what it yields.   Besides the recent change in utilization, what other negatives are in her CR profile?  Has she recently obtained several new accounts?


She had 3 collections accounts out of which 2 are deleted from all 3 CRA this month when she pulled them yesterday. One small($50) medical collection is just reporting in Equifax and TU from Carter Young as paid in full ($50), they wont budge on the deletion. She recently got approved for Williams Sonoma Visa card through SCT as she shops there, but that account is not reported yet, other than that no new accounts since an year. All 3 she had were older than an year. Oldest account is 5 years old and AAOA shows 2 years 11 months



Cap One Platinum - $300
Cap One Walmart - $300
Merrick Bank DYL Visa - $600
Mission Lane - $750
Target/TD Bank - $300
Fingerhut - $400
Self Lender CD
Message 4 of 9
Established Contributor

Re: Need some recent data points on Citi and Chase cards



Question: You mention recent lates (plural).  How many, how late, and how long ago?  All those are important. 

 

With the recent positive developments in her file being so new, I would personally wait for at least a few months to apply.  It will only help her odds of approval with a Prime Lender if she maintains that low UTI and good payment history.

 

I think it not only matters which Prime Lender you choose but which of their cards to choose.  I believe Citi might be a little easier than Chase to get approvals. 

 

I have a lot of Chase cards.  For example,their Sapphire Preferred / Reserve would probably need a much higher score.  On the other hand, the Slate and basic Freedom (5% rotating Catogories) would probably be the easiest to get approved. 

 

For Citi, the Simplicity card is probably one of their easier non-secured cards to get.  Note that neither the Slate or Simplicity offer rewards, so the benefit of getting them with a mid to low score is to build a lending history with the bank so that you can product change or apply for their better cards later on.  I currently only carry Citi's Costco Visa card.  It's a great card but you need to be a Costco member to apply.  At about 650 score, she might be able to qualify for that with a lower limit or higher APR. 

 

I had a Chase Slate a long time ago when my score was not as good.  I later pc'd it to a Freedom Unlimited.  Chase has a lot more card offerings than Citi.  Some other good "foot-in-the-door" cards with them might be their Amazon Visa, Starbucks Rewards, or basic Disney (no AF) Visa. 

 

Chase has a great SUB right now on new Freedom Unlimited cards where you can get 3% back on your first $20K in spending in year one (potential $600 bonus) but I think her score is too low still for good success with that.  Maybe check the forums on other dp's about CFU applications. 

 

Good luck and repost when you decide what to do and tell us how it turns out. 




Total Length of Credit = 35+ years; AoOA (Currently open accounts) = 26+ years;
AAoA = 9.5+ years; AoYA = less than 1 year (Aug 2019)
Total Open Credit Lines Over $400K. Utilization Less Than 1%. Inquiries until May 2020 (TU:1 -- EQ:0 -- EX:5)
*Hover cursor over each card to see name, CL
Message 5 of 9
Highlighted
Valued Member

Re: Need some recent data points on Citi and Chase cards


@Aim_High wrote:


Question: You mention recent lates (plural).  How many, how late, and how long ago?  All those are important. 

 

With the recent positive developments in her file being so new, I would personally wait for at least a few months to apply.  It will only help her odds of approval with a Prime Lender if she maintains that low UTI and good payment history.

 

I think it not only matters which Prime Lender you choose but which of their cards to choose.  I believe Citi might be a little easier than Chase to get approvals. 

 

I have a lot of Chase cards.  For example,their Sapphire Preferred / Reserve would probably need a much higher score.  On the other hand, the Slate and basic Freedom (5% rotating Catogories) would probably be the easiest to get approved. 

 

For Citi, the Simplicity card is probably one of their easier non-secured cards to get.  Note that neither the Slate or Simplicity offer rewards, so the benefit of getting them with a mid to low score is to build a lending history with the bank so that you can product change or apply for their better cards later on.  I currently only carry Citi's Costco Visa card.  It's a great card but you need to be a Costco member to apply.  At about 650 score, she might be able to qualify for that with a lower limit or higher APR. 

 

I had a Chase Slate a long time ago when my score was not as good.  I later pc'd it to a Freedom Unlimited.  Chase has a lot more card offerings than Citi.  Some other good "foot-in-the-door" cards with them might be their Amazon Visa, Starbucks Rewards, or basic Disney (no AF) Visa. 

 

Chase has a great SUB right now on new Freedom Unlimited cards where you can get 3% back on your first $20K in spending in year one (potential $600 bonus) but I think her score is too low still for good success with that.  Maybe check the forums on other dp's about CFU applications. 

 

Good luck and repost when you decide what to do and tell us how it turns out. 


Thank you for the write up, will pass on the suggestions you have.

She has a 30 day and 60 day late with capital one in Jan and Feb of this year, and she has a 30 day late with Discover from 8 months back.

She has sent the GW letters to both to see if they could do the adjustment, we have to wait and see on that.



Cap One Platinum - $300
Cap One Walmart - $300
Merrick Bank DYL Visa - $600
Mission Lane - $750
Target/TD Bank - $300
Fingerhut - $400
Self Lender CD
Message 6 of 9
Valued Member

Re: Need some recent data points on Citi and Chase cards

She had decide she will wait out one more month and look for pre approvals. Will update the results here and data points


Cap One Platinum - $300
Cap One Walmart - $300
Merrick Bank DYL Visa - $600
Mission Lane - $750
Target/TD Bank - $300
Fingerhut - $400
Self Lender CD
Message 7 of 9
Valued Member

Re: Need some recent data points on Citi and Chase cards

Update!!

She went ahead and applied for PayPal Cashback MC and got approved for $2000 SL pulled TU 640 with 4% util. I told her to garden till the score gets to around 690 before going for Citi DC.


Cap One Platinum - $300
Cap One Walmart - $300
Merrick Bank DYL Visa - $600
Mission Lane - $750
Target/TD Bank - $300
Fingerhut - $400
Self Lender CD
Message 8 of 9
Moderator

Re: Need some recent data points on Citi and Chase cards

Post is now locked due to being approved.  At OP please feel free to create a thread in the approval section if you so choose to share your approval and any other information that you would like.  Congrats

Message 9 of 9
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