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