This is for a friend. this person has: citibank 9 months old $1800 Cap 1 secured $600 (1 year old) Car loan $30K 6 months old Macys Premier $1000 1 year old Household (rooms to go) $2500 1 month old. What would be the next logical card to apply for low interest reasonable line? I was thinking a second citibank card product?
If the credit is damaged, like it sounds like it is, his best bet for a better card is to go with a lender like Citibank who may overlook a low score based on their personal experience with the lender. This was certainly the case at Chase a few years back. If limits and APRs are the most important thing this is a good bet. He may also have some luck with Capital One.
no damage to credit, just 12 months of total credit history under the belt. The citibank is platinum select, the rooms to go is 0% finance for 18 months. I had the person get the secured cap 1 as a first card, and it helped get the citibank platinum select after a few months later..
Your friend doesn't need anymore tradelines. Excessive inquiries and new tradelines would kill his score, at least in the short run. But he could use upgraded cards. For Citi, have him call and ask for Retention. They've done a great job increasing lines for Reg's here (Jo's line went from $1K to $28K within less than a year!!!). They do pull inquiries though. As for lower APR's, we've had quite a few reported reductions approved by ordinary CR reps. For Capital One, having had their card for a year, his cure is clearly Mr. Miller. More than 10 Regs here called him, some more than once, with a 100% success rate. But always speak w/ Retention before calling him, you might get lucky and save his number for TRULY rainy days. For Macy's, have him call them and ask to speak with Credit Granting Dept. If his account is in good standing and didn't get an increase in the last 3 months, they'd probably increase it on the spot no questions asked. Saar
