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Citi Dividend CardCiti Dividend Card
mrlust said: "I'm hoping to apply for the Citi Dividend Card (the 5% cash back one) in the next few months - anyone know what kind of credit score you need to be approved? I'm about 655 average FAKO right now, but it's getting better quick.
I know Citi in Michigan pulls TU, and that's one of my highest. I'm itching to get that card :)"
credit_card_collector said: "That Citi card is only 5% on certain purchases.
"Earn a full 5% cash back on supermarket, gas station and drugstore purchases and 1% on all other purchases, up to $300 a year."
They take much more into consideration then just score on these premium cards. You need an adequate number of aged accounts as well as low utilization in some cases. If you have the couple points to spare it is worth a try with 655, but if you have a bunch of newer maxed out cards or very few accounts on your file I would not bother. But then again what do I know, I was rejected for a MBNA card once because I had "adequate credit available to me already" in other words they sometimes don't want their card to join the stack of unused plastic, a reason to close those crap cards.
If I had to venture a guess you should be able to get a standard 1% cash back account like that with a 655 unless there are severities like I listed above I am unaware of. Now if you were after a Chairman Citi Smith Barney Card (now I made you drool) I would say you better save up 150 more FICO points and make 7 figures. :D
Want one heres the link:
[url]https://www.smithbarney.com/products_services/credit_cards/chairman.html[/url]"
credit_card_collector said: "Yeah so I read and responded here before I read your other thread, so just take what you need. :)"
TScott said: "Someone on CB was approved for a Citi Dividend with scores 655-670 (in the Credit approved forum - post #34)"
mrlust said: "Hah, that card does make me drool.
I realize that the 5% is only on some purchases, but I'm pretty sure it gives 1% on everything else, which is cool with me. It's better than what I'm getting now (nothing).
There are no negative items on any of my credit reports - but I don't have much for credit history at this point. I have one student loan that is deferred until next month, and one secured card I've had since November. My credit score jumped like 20 points after the card reported in January - so I'm assuming my score will jump pretty quickly as I gain more credit history.
So, anyone apply and get the Citi Dividend Card, and know what score they got it at?"
mrlust said: "Two replies before I finished mine - nice.
Thanks for the information. I'm probably going to wait for another month or two before I apply - I don't want to be denied :)
Nice work on finding that Trish! I can never find anything I want on those boards - so slow! :D"
credit_card_collector said: "Ouch your score may not matter at this point, no one would approve me for a unsecured card until I had my secured card for 12 billing cycles of good payments. :(
If you decide to try I really hope you get it."
mrlust said: "I find it funny that no credit is basically bad credit.
Twelve billing cycles, eh? I guess I could wait until November. I want that card! :D"
credit_card_collector said: ""I find it funny that no credit is basically bad credit."
Yep its horrible and was a huge problem for me for a long time, I found it strange how they determine who they extend credit to, people with no credit that is. My friend in high school had no credit like me, I could never get approved for anything but he had declared bankruptcy on A way over limit Aspire Visa and a couple very bad standing high $$$ accounts with HSBC retail services before anyone would give me a secured card, lesson that credit cards and high school students do not mix. I wonder if they go by last initial or birth date, I really wonder what the determining factors are? :confused:"