If you have ever applied for a CITI credit card and were rejected, then you know that the approval is a critical step in getting your application approved. This is why you must ensure that you submit your application to a lender that does not place a priority on the number of inquiries that they perform on your credit file. Every day, multiple lenders compete for your business and the number of inquiries will determine the outcome of your application. In order to obtain your desired response rate you will need to ensure that you submit your application with the minimal amount of inquiries.
CITI credit cards are processed differently than other banks, including some of the major banks. Lenders make their decision based on several different factors including your credit history and financial information. When they perform an inquiry on your file, the lender will pull a copy of your credit report and review it for credit-related activity. Based on the information pulled from your credit report, the credit-grading process will determine if you are suitable for credit or not. Your application will be denied if the credit card company feels that you are not a high risk consumer.
Credit card companies use a variety of factors in determining your approval or denial. Lenders consider your payment history, current debt level, number of inquiries on your account, your credit limit, the period of time since you opened your account, and whether you have maintained your balance within the established credit limit. CITI pre-approval gives you the advantage of receiving your approval faster and reducing the number of inquiries on your file before you receive your card.
Many people, when applying for a credit card, do not fully understand the importance of CITI credit cards. There are many benefits to applying for CITI credit cards including the opportunity to build your credit score by making payments on time and not overspending. CITI also offers special incentives including airline miles and cash back on expenditures. The key is to make sure your payments are reported to the credit bureaus accurately, consistently and timely.
Once your application has been approved, you will receive an activation notice. It is important to read the activation notice carefully so that you can make sure you qualify for your card. You should also contact your primary care provider to inquire about any available pre approval offers.
If you qualify for a CITI credit card, you can apply online or by mailing in your application. You will need to provide personal information such as name, address, social security number, and date of birth. If you have already established steady employment, CITI will waive application fees.