Hello, I just received a Citibank Platinum Select and Chase Mastercard Preapproved offer. Currently I have a Capital 1 Gold and Classic card. So I obviously want to move up. The problem is that Citibank just denied me for the AAdvantage card due to too many inquiries (Stinking Eloan Killed me with inquiries). Should I bother with either or hold off a couple months before trying. I am closing on a house after Thanksgiving so I thought I would wait until after that so that I dont change my debt ratio. Michael C. Glass
RE: Received both a Citibank P I would definetly wait til AFTER you close on your house, lenders always tell you not to apply for anything during the closing process. I had friends recenlty who traded in cars during their closing period, they acutally got lower payments thinking this would look good, it didn't the lender gave them a hard time.
RE: Received both a Citibank P I would wait 30 days for the Citibank. I had many, many inquiries but not on my transunion report though. Who knows which report they will pull on you next time. Wait 30 days and give it another shot.
RE: Received both a Citibank P Wait until after closing and reapply. If denied again, call the rep. and explain the inquiries. Obviously, the computer is not distinguishing between inquiries for a mortgage and those for consumer credit. According to Experian, all inquiries for mortgages within a two week period are supposed to count as one. Home ownership is a credit scoring plus, so you should be in even better shape when you apply again.
RE: Received both a Citibank P I wonder, can you have a lot of inquiries and a high score so that you could receive a pre-approved offer, but when you actually apply the computer sees the inquiries AND the score and denies you.
RE: Received both a Citibank P Absolutely you can be denied on so called pre-selected or preapproved applications. It's their way to get an application in your hands. Years ago prepproved meant something, you would get a credit line and receive the card, not anymore basically you qualify to sign your name so they can pull a credit report.
RE: Received both a Citibank P Try for the Cross Country Bank gold card! That is a step up for you, that is the best you will do.. bless u
RE: Received both a Citibank P I would wait. My credit improved tremendously once I became a homeowner. Good Luck in your new home. http://www.creditsense.com
Thanks for the advice Thanks to all for the advice. I believe I will wait until I close on my house before I apply again. Just a quick response is Cross Country Bank better than Capital One. I thought CCB was a horrible company from what I have read on this board. Mike G.
RE: Thanks for the advice Mike G. wrote: "is Cross Country Bank better than Capital One" Is the earth flat ? "I thought CCB was a horrible company" Still is. Saar