How forgiving is Citibank after BK?

Anonymous · ‎04-14-2018

I am trying to help my husband rebuild his credit. He has Chpt 7 BK as a result of divorce, discharged 9/2012. Citibank was a creditor in the proceedings. We checked his credit scores through the $1 deal at creditchecktotal and he has the follwoing:

EXP 678

EQ 667

TU 656

He currently has cards with Credit One and Brakemasters (Synchrony bank?). He has a good payment history for the last 24 months, never missed a car payment either. He has one collection back in 2014 (before he met me!!!). Also had a state tax lien PIF but still showing on EQ

I made him an authorized user on two of mine, Home Depot and BoA CashRewards. This seemed to boost his scores to what they are now. He said he gets a score from Experian through Credit One (I think) which was 710. I don't know if that is real or not.

So I poked around on those prequalified tools and it looks like he prequalifies for Amex ED, BCE or PRG along with Disc IT, interest rates varying between 18.49 & 19.49%. I checked Citi and the response was no match to a pre-qualified offer but suggested the Costco Visa with a stated interest rate of 16.74%.

We are at Costco once a week and I have been eyeing this card, but I'm in the garden thanks to my app spree 18 months ago.

HIs history looks grim, now that I reread what I wrote, but I'd like to get his credit profile strong as we are looking to buy a new house in 2019. And, not gonna lie, I want my hubby to have good credit like I do. I thought it might be wroth it to app for AMEX and Discover to transfer the balances from his 28% cards, and that Costco Visa would be super....but I don't know.

What do you guys think???? Thanks in advance and love all the advice.

darrin073 · ‎04-14-2018

Not if u iib them. Other then that 5 -7 years post bk

Anonymous · ‎04-14-2018

@darrin073 wrote:
Not if u iib them. Other then that 5 -7 years post bk

Wow that was fast reply, thank you. Had to look up "IIB". It has been 5.5 years since the discharge. Are you saying there might be a chance then?

HiiiPoWeR · ‎04-14-2018

@Anonymous wrote:
@darrin073 wrote:
Not if u iib them. Other then that 5 -7 years post bk
Wow that was fast reply, thank you. Had to look up "IIB". It has been 5.5 years since the discharge. Are you saying there might be a chance then?

Citi is a conservative bank in general. I wouldn't waste a HP by applying for an unsecured card with them. I say go for their secured card and build up some new history with them. Also, if he didn't burn Amex, I suggest pulling the trigger on that Amex Platinum.

Btw, he can call EQ and have them remove the tax lien. As of April 1st, 2018, tax liens of no longer reported by the credit bureaus.

Anonymous · ‎04-14-2018

@HiiiPoWeR wrote:
@Anonymous wrote:
@darrin073 wrote:
Not if u iib them. Other then that 5 -7 years post bk
Wow that was fast reply, thank you. Had to look up "IIB". It has been 5.5 years since the discharge. Are you saying there might be a chance then?
Citi is a conservative bank in general. I wouldn't waste a HP by applying for an unsecured card with them. I say go for their secured card and build up some new history with them. Also, if he didn't burn Amex, I suggest pulling the trigger on that Amex Platinum.

Btw, he can call EQ and have them remove the tax lien. As of April 1st, 2018, tax liens of no longer reported by the credit bureaus.

I had no idea about the tax liens! Thank you for that tidbit and the advice. We will think on that AMEX but hold off on the Costco visa. I can always count on this board to teach me something new. Y'all are great!

gdale6 · ‎04-16-2018

By BK in 1996 was an issue with them in 2013, 2 accounts IIB 5K and 18K. The 18K was another bank that they bought in 1997. I trash their mail at least 3 times a week offering me numerous cards. Will never own another Citi card.

Anonymous · ‎04-19-2018

I included Citi in my BK and I have found them very unforgiving.

3.5 years later I'm hovering around 700 and I got a "pre-approved" offer for a Costco/Citi card, but they declined me.

I wouldn't waste time with Citi until he gets to 7-10 years.