@ModelCitizen wrote:Hello all and Happy New Year!
New user here and I have a question about whether or not to apply for a particular credit card.
The credit card that I am interested in is the Citi Platinum Select/AAdvantage Visa Signature Card (here is the link: http://goo.gl/tXWSD).
I am planning to do a lot of traveling later this year/early 2013 and want an airline miles rewards card (my preference is American Airlines).
I ordered my EQ myFICO score this morning (one-time option) and have a score of 692.
My concern is that I currently have a Citi card that I closed in August 2009 and am still paying off the remaining balance. The current balance is $2,415 and I have planned my budget to have this card completely paid off by March 2012.
I am not certain if it matters or not, but should I go ahead and apply now or just wait until I've paid off the closed Citi account and just keep my eyes out for another miles offer? (Note: This particular offer expires January 31, 2012.)
Thanks!
If it was me, I would wait until you have paid off the previous card.
Did you close the previous CITI card or was it closed by them? Charge off?
I actually was in the same situation. I closed my CITI cc because they jacked my APR. I like the 21 month no interest so I applied and was approved. The only thing is they didn't give me a high credit line, but sort of matched what I owed them. So I'm happy cause I want to pay off my debt with no interest. Also my debt is not as high as yours. always YMMV.
@ModelCitizen wrote:
@chnceit wrote:
I actually was in the same situation. I closed my CITI cc because they jacked my APR. I like the 21 month no interest so I applied and was approved. The only thing is they didn't give me a high credit line, but sort of matched what I owed them. So I'm happy cause I want to pay off my debt with no interest. Also my debt is not as high as yours. always YMMV.
Agreed with underlined portion. And they cut my credit line in half (this was around the time of the credit meltdown). LOC decrease and APR increase = no thanks.Wish I had been patient and just held on, because one day out of the blue (after account was closed, of course) APR dropped from 29.99% to 6.99%. Yes, really.
Yes, this balance is still a bit high, but because of the low APR, paying off other cards have taken priority.
Slowly, but surely, I'll get there.
I am thinking about calling them and asking them to reopen or move my old LOC to my new cc if thats even possible. Or even use the same pull to recon.
@ModelCitizen wrote:Hello all and Happy New Year!
New user here and I have a question about whether or not to apply for a particular credit card.
The credit card that I am interested in is the Citi Platinum Select/AAdvantage Visa Signature Card (here is the link: http://goo.gl/tXWSD).
I am planning to do a lot of traveling later this year/early 2013 and want an airline miles rewards card (my preference is American Airlines).
I ordered my EQ myFICO score this morning (one-time option) and have a score of 692.
My concern is that I currently have a Citi card that I closed in August 2009 and am still paying off the remaining balance. The current balance is $2,415 and I have planned my budget to have this card completely paid off by March 2012.
I am not certain if it matters or not, but should I go ahead and apply now or just wait until I've paid off the closed Citi account and just keep my eyes out for another miles offer? (Note: This particular offer expires January 31, 2012.)
Thanks!
I would wait until it's paid off. They could deny you strictly on that.
I agree with people above, wait until you have it paid off. I can't imagine the Citi Aadvantage card is going anywhere. It sounds like you're concerned about a preapproval offer expiring Jan. 2012. That offer doesn't mean anything. If they would approve you now, they'll certainly approve you once your balance is paid off and your credit looks better. Those are just marketing tools. They don't relax their approval standards, and then tighten them back up after the offer expires. You'll be best situated to get an approval and best possible limit once you have the other balance paid off. Good luck.
@Walt_K wrote:I agree with people above, wait until you have it paid off. I can't imagine the Citi Aadvantage card is going anywhere. It sounds like you're concerned about a preapproval offer expiring Jan. 2012. That offer doesn't mean anything. If they would approve you now, they'll certainly approve you once your balance is paid off and your credit looks better. Those are just marketing tools. They don't relax their approval standards, and then tighten them back up after the offer expires. You'll be best situated to get an approval and best possible limit once you have the other balance paid off. Good luck.
+1