Hey Pizza1!
I've read quite a few of your threads, and I think I have a 'feel' for your situation. That being said, if you have the extra cash to 'stash' away and want to see what will happen, I say 'go for it'. 
Here's my thinking - if memory serves me correctly you already have quite a few inquiries so one more isn't likely to make a noticeable difference. I also recall you having quite a few accounts opened the last few years, so this is unlikely to make a large impact on your AAoA, either.
As long as you aren't too disappointed if it doesn't work out the way you're hoping, I don't really see a down-side. Worst-case scenario you tie up a little money for a while, best case scenario you get a head-start on a relationship with Citi.
I know opinions will be varied, but for what it's worth that's mine.
@UncleB wrote:Hey Pizza1!
I've read quite a few of your threads, and I think I have a 'feel' for your situation. That being said, if you have the extra cash to 'stash' away and want to see what will happen, I say 'go for it'.
Here's my thinking - if memory serves me correctly you already have quite a few inquiries so one more isn't likely to make a noticeable difference. I also recall you having quite a few accounts opened the last few years, so this is unlikely to make a large impact on your AAoA, either.
As long as you aren't too disappointed if it doesn't work out the way you're hoping, I don't really see a down-side. Worst-case scenario you tie up a little money for a while, best case scenario you get a head-start on a relationship with Citi.
I know opinions will be varied, but for what it's worth that's mine.
UncleB said what I was trying to say.
I recall you doing the same with BofA secured not long ago. If getting back in with Citi is on your bucket list then there's no reason not to shave a few yrs off the process.
Hmmm. I think that I am going to respectfully disagree with some well thought out intelligent replies.
Of course, it's up to you, pizza, but I would choose to pass.
Opening a secured CC account is the equivalent of paying a bank interest to use the money that you are ASKING them to borrow from you for free. Wait, not free... you are paying THEM to allow you to use the dollars that you have PAID to them.
I understand that secured CC's have their place and can be an awesome rebuilding tool for those who need them.
You don't.
You've got plenty of available credit with other lenders.
If rebuilding your relationship with Citi is worth X dollars to you, then go right ahead, and I truly wish you the best.... No lender is worth that for me.
Everyone, thank you for thoughts regarding this. I decided to go ahead and apply, and will let everyone know the outcome. Secured card apps always go to "further review or further processing", which is where I am currently, but BD# guy said an hour after my app, it was already processed, just waiting for funds to clear. I unfroze EX for the pull, and trust me....one more INQ is NOT gonna hurt me, LOL, or another new acct for that matter.
But, regardless, Im not approved till I get the email and my app status online says approved, lol. Wont take his word it just yet.
I know a few of you don't understand really why Id want a fully secured card at this stage in my rebuild with all the cards and available credit I have, but if it means a legacy card at 4 1/2 yrs post BK vs 7yrs, (which is their norm for BK peeps), Im gonna try, lol! If it graduates at 18 mo, Ill then be 4 1/2 yrs post BK.
I only tied up $300, no big deal. If it graduates in 18 months, great! I have a legacy card at 4 1/2 yrs post BK. If it doesnt graduate, then no harm done, and I close it, get my money back, and move on. But Im willing to try and defy the odds!
Of course if its approved, I will naturally try to get it unsecured sooner, lol.
But, regardless, Im not approved till I get the email and my app status online says approved, lol. Wont take his word it just yet.
I know a few of you don't understand really why Id want a fully secured card at this stage in my rebuild with all the cards and available credit I have, but if it means a legacy card at 4 1/2 yrs post BK vs 7yrs, (which is their norm for BK peeps), Im gonna try, lol!
If it graduates at 18 mo, Ill then be 4 1/2 yrs post BK.I only tied up $300, no big deal. If it graduates in 18 months, great! I have a legacy card at 4 1/2 yrs post BK. If it doesnt graduate, then no harm done, and I close it, get my money back, and move on. But Im willing to try and defy the odds!
Of course if its approved, I will naturally try to get it unsecured sooner, lol.
@Anonymous wrote:I recall you doing the same with BofA secured not long ago. If getting back in with Citi is on your bucket list then there's no reason not to shave a few yrs off the process.
Yes youre right NTL...Except with BOFA, they were NOT IIB, and ive never had any relationship with them whatsoever. I applied for the cash rewards card, and they instantly countered the 99/500 offer, so I snatched it up. That card will graduate 5mo-1yr, and my 5 mo is next month ....we will see what happens. They were/are another major lender I wanted in with, knowing the card will grow nicely over time. So, this one was partially secured.