Has citibank lost their damn minds?This is an direct insult that they can do to a person.Let me tell you what their crazy terms are,keep in mind this is a pre-approved offer,and here it is A gold mastercard credit card with a interductory rate of 0% on purchases only good until march 2003,then a goto rate of 24.99%!!!!!!!!!!!!!!!!!!!!!!!!!!,and if you think that is bad here is even worse,Bt rate of 24.99%!!!!!!!Cash advance rate24.99%,and a default rate of 32.74% A.P.R.!!!!!!!!!!!!!!!!!! Now what is really funny about this screwed up deal is that i already have a drivers edge platinmum select card with them,and i have a low rate on purchases of 8.65%,and a BT rate of 4.9% good until my balance is paid-off. How in the can hell they came up with this kind of offer is anyones guess. Have any others got such an insult offer from them with excellent credit?How did they decide to offer me a high risk card when i am already a prime customer too them?The letter said they did a soft inquirie and this is their offer,and this is what they have decided to offer me.I have perfect credit!!!!!!!!!!!!!!!!!!!!!!!!Citibank has really lost their marbles when it comes to this kind of insult!!!!
There's been a couple of other threads today about Citi using "unique" standards to grade customers. They don't want a customer with "perfect" credit, they want a customer who will be profitable. If you carry balances over 50%, that's probably why you got that offer, because they think that people who carry balances are desperate. As for this ridiculous offer to you even though you already have what sounds like a prime Citi card, it's probably the case of the left hand not knowing what the right is doing. Citi's largest card operation is out of South Dakota, but they have others as well, and I think they may be run as independant units, even though they all use the Citibank name.
Hi Racer7949, When a credit card company does a pre-screen on a persons CR,does the CRA tells them how many cards that i have,and how much my total credit limits are?Also do they get my current payment history with all creditors?,or do they just go by how much i owe to all creditors to decide what offer they would generate?The only thing that i can think of by having 9 credit cards may be putting me into a high risk catagory with this creditor.I have no negatives,public records,etc. I just got a 0% offer from chase manhattan bank on my existing credit card account,and what i got in the mail today from citibank has really got me puzzed right now.Citibank is making money from me around $30.00 a month in finance charges so do you think my profit score would be good with them?I do know citibank isn't the same like back in 1992,they have gotten pretty stiff with their credit requirements since then.
They can get very very selective on the screen- for example, "fico >650, has mortgage reporting, no derogs, no finance companies, min 3 bankcards, average account age 120 months, max 2 inquiries 90 in last 90 days, total revolving utilization 45%-65%" We're all numbers in the formulas ! -mj
mj - I learned more from your one paragraph in 30 seconds than I have from numerous other sources about credit card preapprovals. The big thing is - if you are clean you are clean.... aarrff - dogman
Its fascinating to watch these "traditional" banks now going after higher risk segments, and mixing in a few errors - like yourself LOL! GOLD! gosh! barkin around watching Auto Motor News - review of new SAAB v A4 v BMW.... dogman
9 cards probably did it. My second negative reason on Equifax is too many bank cards and they say the average is 3 to 4. (Including closed, which is included in the count for your score, I've got something like 11)
dogman, my partner & I recently got the SAAB. I recommend it, it really turns heads, far more than I expected. My sister has the A4, very nice car, but the SAAB is more unique, if that's what you like.
IT got really nice reviews - they like it much better than the "OLD" style They are nice looking.... aarrff - dogman
