Question about applying for Citi Custom Cash and AOD Visa Signature cards

[mumbogray]

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@cws-21 wrote:

Thank you for the replies thus far. They're much appreciated. When one indicates x/6, x/12, and x/24, are they hard pulls in general? More specifically, I applied for a car loan last summer and I had multiple inquiries on the same day from different banks. Do they each  count the same as if I would have applied for a credit card?

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Accounts. I believe the way it is supposed to work is, Fico groups the inquiries as if it was 1 HP for scoring purposes..but the HPs will still show up separately on your report.  If you look up grouping multiple auto inquiries, you should find some articles. The benefits are probably minimal at best. HPs might still count against you in an automatic decision, but can be explained in manual review/calling in.

[KLEXH25]

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@Yasselife wrote:

Is waiting 6 months a good time for a new application? I added 1 installment last month and 2 new inquiries; that's all I've got this year. 3 accounts total in 24 months. 
do I have a chance for this card? Fico mid 700s. AoAA 3.5 yrs, clean

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I think you stand a good chance to apply even now, but six months is usually a safe amount of time to wait between applications.

[cws-21]

Thanks for the information. I thought auto loan inquiries were treated differently that new credit card accounts, but I wasn't sure.

[cws-21]

I am back to seriously considering applying for the AOD Visa Signature Card like many others who do not already have it. Regarding income, how does AOD determine one's regular pay? I ask because I have my regular salary, but receive additional pay for approximately 7 months out of the year from my primary employer and I have pay, again for about 7 months of the year, from another employer as well. For regular pay, are pay stubs used? Tax forms? How do they separate my regular pay from my additional pay? I hope I am making myself clear and someone(s) can help me sort this out.

[Remedios]

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@cws-21 wrote:

Thanks for the information. I thought auto loan inquiries were treated differently that new credit card accounts, but I wasn't sure.

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For scoring purposes only, and only if binned within certain period of time (time period depends on scoring model)

To a computer, HP is HP. It doesn't care what it's purpose was, since regardless of the purpose, someone was seeking credit for something. 

[cws-21]

Thank you for the reply. So, should I assume Citi will count each auto loan inquiry made on the same day from different banks just as they would for separate credit card inquiries?

[FinStar]

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@cws-21 wrote:

Thank you for the reply. So, should I assume Citi will count each auto loan inquiry made on the same day from different banks just as they would for separate credit card inquiries?

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Yes. They will count each one separately.

[cws-21]

Ugh, that means I should be fine for two of the three bureaus. However, there's no guarantee or even fair probability which bureau Citi will pull, correct? Thanks for the reply!

[KLEXH25]

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@cws-21 wrote:

Ugh, that means I should be fine for two of the three bureaus. However, there's no guarantee or even fair probability which bureau Citi will pull, correct? Thanks for the reply!

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DPs suggest that they may pull two CBs anyway. But are they really that inquiry sensitive? I'd be more worried about accounts. At least the inquiries can be explained during a recon, if necessary. 

[Anonymous]

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@cws-21 wrote:

I am back to seriously considering applying for the AOD Visa Signature Card like many others who do not already have it. Regarding income, how does AOD determine one's regular pay? I ask because I have my regular salary, but receive additional pay for approximately 7 months out of the year from my primary employer and I have pay, again for about 7 months of the year, from another employer as well. For regular pay, are pay stubs used? Tax forms? How do they separate my regular pay from my additional pay? I hope I am making myself clear and someone(s) can help me sort this out.

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Best to assume they won't count that extra income at all from reports here.