kissinger99

High CL's Anyone? Citi card method

Recommended Posts

I've joined the group. This is scary. I'm ranging between 559-579 (I was at 583 before the Citi inquiries) on my reports. I applied and got that "more consideration" message. Oh well...but wait....

I check my CR last night, and there's a new line from Citi, with a $0 balance, so I guess I got a card now! I wonder what will happen with the other 3 I applied for? Cool, but scary, scary, scary. Note that was only 4 DAYS after applying! WHOA!

I want to spread out my balances, I've got 2 cards that are overlimit right now. What should I do if I get the others cards? Help!

Link to post
Share on other sites

Headache, I think you can do it either way. Personally, I would prolly convert first and then consolidate the limits into one. But that's just me - I really don't think it'd matter either way. Now, if you were combining 5 PP cards together, they might get a little suspicious. :wink:

Yrag - I'm utterly shocked you got any Citi cards at all with those scores. WOW. You can call and find out how many you got approved for (the app status number is earlier in this thread).

When you get the other cards and get everything combined/consolidated/converted, you can transfer some of your big balances onto your new Citi card(s).

I don't want to preach because I'm not the biggest credit angel, but if you have such low scores and maxed out cards, you need to be especially careful and responsible with your new credit. If you max out these too, they can certainly do an account review, see what your stuff looks like, and take away your pretty new cards (jack your rates, lower your limits, close your accounts).

Please be careful. Citi isn't a very forgiving company.

Congrats on all the new trades, though. :D

Link to post
Share on other sites

Is there one particular CRA that they are doing inquiries with? My scores w/ Experian and TU are great right now and I really need to rebuild...Equifax is seriously in the crapper in comparison tho.

I just started rebuilding *my* credit and have 2 small store cards.. at least its sumfin:) funny because I originally came to the forum to increase my hubby's scores and now I'm all obsessed with both of our fico scores lol

Link to post
Share on other sites

CM, I'm TOTALLY behind you in what you said. I'll say that my total credit card usage is less than $2000, and my total credit usage is less than $10,000. I've paid everything on time over the last 3 years, with the exeption of a Cap 1 charge off about 3 years back. I currently only use about 3% of my income towards credit. My car's paid off, and I don't have a house payment. I plan to use the card to spread out my balance usage with all cards to about 10% of the limit for each TL.

My OL accounts are GE care, and those are basically overlimit fees and 2 lates (missed the payment days by days, but the CC issuers don't care about that), and FNB of Marin, same thing. Those $29 fees jack you up! The total dollar amount of my OLs are less than $500.

Just giving you guys my numbers for analysis' sake.

I've learned my lesson, and I'm never going back to that bondage.

Link to post
Share on other sites

:)% Sounds good to me...and yes, these Citi cards will help you not only pay off those ucky cards, but let you GET RID OF THEM!

:everybodyclap:

I don't know anything about GE Care, but if it's anything like Marin, I'd suggest you pay OFF those rediculous cards and close those suckers. Unless, of course, one has, like, 10 years history and it's by far the oldest thing on your report. Heh.

In my case, these Citi cards were my way to freedom. I paid off every one of my crap cards (HH Trio!) and cut them up. I closed the one with fees and cut up the others.

And...by the way...I'm kinda glad to see you had a Crap1 CO. I think they deserve every CO they get. :wink:

Link to post
Share on other sites

Yeah, but that Crap 1 totally jacked me up, because I've got that CO on my record for the next 3 years! :cry: But that's another subject I'm pursuing on these boards with others.

I'm using the CITI to shrink the TLs, but not close them. I'll keep the TLs, using the CITIs to lower them to about 10-15% usage, then after that's handled next month, I'm going to apply for a offer from Chase I've been getting in the mail for their card at 7.99% for a year. Chase keeps sending offers to me in the mail, but because of my OLs, I couldn't apply for them.

Link to post
Share on other sites

DENIED....I'm laughing right now. She said I have too many accounts past due (HUH?....I have none past due!) and too many recent requests for credit...thats because I was shopping around for a decent rate to replace my stupid Chase card. Oh well!

Link to post
Share on other sites

Got all 3 PP cards in the mail today. I called the number on the back of the card (was scared to call the activation # in case it was automated) and converted the first to the Platinum Select. He did say that the perks do NOT transfer and the APR will go up 2 points. Thats worth it for the limit reporting! I will wait until I receive the PS card before I call about the other two PP cards.

Awesome!

Link to post
Share on other sites

Well, I received my 4 PP cards in the mail today. I called the activation number on the sticker, and talked to a really nice customer service rep. I told him I received 2 PP cards, but was concerned about them not reporting limits, and asked what product he would recommend. He suggested the Dividends card, so I figured what the heck, and asked him if I could get the Diamonds Preferred card instead? No problem, he consolidated the 2 cards into one Diamonds card with 12k limit. Should I wait a couple of days until trying to consolidate the other two, or wait until I get the Diamonds card? Any advice would be appreciated, as I REALLY do not want to screw this up. :lol:

Link to post
Share on other sites

If you're getting a Dividends with your others, you can do it right now. If you're consolidating all the PPs onto your Diamond, I think you have to wait 24 hours in between each consolidation. (Apparently, they can only consolidate the same card once every 24 hours).

Congrats on your nice new card! :D:D:D

Link to post
Share on other sites

THANK YOU!!!!!

Your advice has been great, and very much appreciated. Without the folks on this forum, I would be lost. In your opinion, what would be best for me scorewise - consolidate all 4 onto diamonds, convert the other 2 to a Dividends card, or ?????? I like the idea of a super high CL, even though I hope to use it sparingly. Plus, that would help with my utilization, wouldn't it???

Link to post
Share on other sites

Utilization wouldn't really matter...it'd average out the same no matter where the limit is.

Whether or not it would be better on your score to have it in one line or two would depend on what's in your credit history right now. If you have very little revolving experience, it'd prolly be better to go with two lines. If you have a ton of open revolving lines, the less, the better in that case.

If you have a fairly neutral history, I'd say get whatever feels best for you. I personally like having a choice in what perks I want to use. When I go grocery shopping, I use my Dividends (5% cash back on grocery purchases)....when I make a large purchase, I use my Quicken (0% purchase APR for 12 months).

:D

Link to post
Share on other sites

ok-so my wife got her 4 cards tonight and we activated one; I was thinking she'd keep one PP and convert the other 3 into a PS-can she convert the other 3 at the same time or will she have to call 3 different times? I guess I'm a little confused from the posts above.

:?

Thanks

Link to post
Share on other sites
Headache, I think you can do it either way. Personally, I would prolly convert first and then consolidate the limits into one. But that's just me - I really don't think it'd matter either way. Now, if you were combining 5 PP cards together, they might get a little suspicious. :wink:

LOL I guess you're right! I'm so nervous. They already gave me my highest credit line yet with just one card!

Anyway are you still getting the balance transfer offers once you convert to something else? I'm thinking of trying to convert to the dividends. I'm thinking of trying to transfer my disney card balance. I still owe for my latest disney trip so that card is over 50% used. But it is 0% intrest. I f the citi card has 0% I might be better off since it has a higher CL.

Can't wait till the cards get here so I can stop laying awake at night dreaming about them! LOL

Link to post
Share on other sites

WOW> I was amazed at the instant approval for $5K for my mom. My mom has 620 TU score. I will wait and apply again. I am a little nervous about the switching of the cards once you receive them. I guess I will help her when that comes. Does Preimer Pass not report credit limit? I know I read that somewhere. Not reporting credit limit should be against the FCRA. Maybe if we all contact our congress people.

Link to post
Share on other sites

no they don't report the limits but I think it is because there is no real limit, meaning you can spend over the "limit" the told you and you will not have to pay an over the limit fee but on your next bill you will have to pay the amount you went over.

something like that :?

Link to post
Share on other sites

Hell yeah there judgement friendly. My mom has an open judgement on her TU for $7800 credit card and they approved her. This judgement has been settled but not showing up on report yet. I honestly was shocked at the approval. I'd say give it a try.

Link to post
Share on other sites

What was your mom's score when she applied? I have a paid judgement, and a lot of inquiries from a auto loan that I got in May. But I understand that if the inquiries are in the same time frame that they count as just one.

Link to post
Share on other sites

Damn, so how old/young is the judgment? My judgment is paid in 2003 and reported in 2002.

Congrats to mom! Tell her to maintain her credit this time. My mom cleared hers up, got a Chase card for $10K, and ruined that one, too. She's back at square one.

Link to post
Share on other sites
Guest
This topic is now closed to further replies.