Pre-approved for Citi Platinum Select MC

[mipema]

Hey all,

I got this offer in the mail from Citi for a platinum select MC. and I am debating whether or not to accept. The offer is 0% APR on Purchases and BT's (3% fee applies, $5 min., and BT must post to account by 8/01/08) which applies until 4/01/09 - After that 9.99% FIXED. 0 annual fee.

I already have a Juniper MC with 13.99% FIXED, and 0 annual fee which has been opened for about 2 1/2 years with perfect payment history, and one CLI to speak of.

It got me to thinking. I want to slim down the number of cards in my wallet. I have seven major cc's, and would like to carry four, maybe five (one each - Amex, Discover, Visa, some MC, and maybe an Amex Gold Rewards Plus as my fifth). If i were to do this, I would be getting rid of three visa's (opened 1998 w/$39 AF, 2006, 2007), and one MC (Juniper opened 2005).

I'd be giving up over $8k in CL's, and the 10 year history on the visa with the AF. The 8k won't kill me, but I am concerned with losing the history. I'd still have something like 23k in CL's available with the three majors I'd have left, and if I get the Citi, then more credit available.

So what are your opinions? Do I really need a MC? Isn't Visa accepted everywhere MC is, or do I still need a MC? And if so, do I get rid of the higher rate Juniper, for the Citi card? What are your experiences with either card?

[Anonymous]

It's your call-

I would NOT close your oldest revolving CC-

---

mipema wrote:
Hey all,

I got this offer in the mail from Citi for a platinum select MC. and I am debating whether or not to accept. The offer is 0% APR on Purchases and BT's (3% fee applies, $5 min., and BT must post to account by 8/01/08) which applies until 4/01/09 - After that 9.99% FIXED. 0 annual fee.

I already have a Juniper MC with 13.99% FIXED, and 0 annual fee which has been opened for about 2 1/2 years with perfect payment history, and one CLI to speak of.

It got me to thinking. I want to slim down the number of cards in my wallet. I have seven major cc's, and would like to carry four, maybe five (one each - Amex, Discover, Visa, some MC, and maybe an Amex Gold Rewards Plus as my fifth). If i were to do this, I would be getting rid of three visa's (opened 1998 w/$39 AF, 2006, 2007), and one MC (Juniper opened 2005).

I'd be giving up over $8k in CL's, and the 10 year history on the visa with the AF. The 8k won't kill me, but I am concerned with losing the history. I'd still have something like 23k in CL's available with the three majors I'd have left, and if I get the Citi, then more credit available.

So what are your opinions? Do I really need a MC? Isn't Visa accepted everywhere MC is, or do I still need a MC? And if so, do I get rid of the higher rate Juniper, for the Citi card? What are your experiences with either card?

---

[Anonymous]

I agree with Timothy. I would not close the oldest card either. Length of credit history is 15% of your FICO score.

Perhaps negotiating with the doing away of the AF, or combing 2 cards(if they are with the same ccc).

[mipema]

Thanks Timothy and Sylvia.  I heeded your advice, and I am not going to close my oldest revolving CL, but I did bite the bullet and app for the Citi PlatinumSelect MC card and was approved with a 2k CL.

[Anonymous]

Well congrats then! Citi is a prime bank, and you have a great card.

I love Citi.