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I have been repairing my credit for a year now. I went from 540 FICO to scores up to 710. I have 5 credit cards now with interest rates from 14.99 to 21.99. Yesterday I got an offer, not a pre-approval, for a Citi Flex Line of Credit, with no collateral - 5,000 to 25,000, with a 11.99% apr fixed. I have a Citi credit card I got a few months ago and charged a small amount this month and have not made a payment yet. The letter says because of my good payment history with them, they made the offer. I am wondering if I would be able to get this line of credit? I have a paid judgment and 6 paid and unpaid collections - all 4-5 years old. First of all - I am not sure what if a line of credit is a good thing over credit cards. I am not over-using my credit cards, but I would like a lower interest rate with this line of credit. I have a lot of inquiries in the last 7 months applying for credit cards with better interest rates to build my credit back. I don't want another inquiry if I don't have a chance of getting this.

My FICO scores are TU -710 EX 664 EQ 698




You have pretty good scores,but I would wait at least six months to allow your accounts some age.Then if you want to apply for it ,go for it.

Sub: #1 posted on Sat, 07/28/2007 - 20:24

cajunbulldog cajunbulldog
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(Posts: 4859 | Credits: 425)

I agreed with you about keeping the inquiries down. I am sure my scores will take a dive, but - I went ahead and applied and was approved for $11,000 line of credit at the 11.99%. I will not apply for anything else for a year. I have saved $3000 for dental work costing $5000-6000. I'll use the line of credit to pay for what I have not saved. I like the thought of using this instead of credit cards. I am hoping to get it paid off in a year.

Sub: #2 posted on Sat, 07/28/2007 - 22:05

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I HAVE A QUESTION I HAVE OVER 730 FICO AND I APPLY FOR 3 CRREDIT CARDS THIS PAST WEEK HOW MANY POINTS WILL THIS INQUIRE TAKE OFF FROM MY SCORE

Sub: #3 posted on Sun, 07/06/2008 - 02:46

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