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New Member
WorkInProgress78
Posts: 2
Registered: ‎10-03-2009

Citi Diamond Preferred Rewards Card

Hi, 

 

I have been reading all of the information I can on the myFico boards and learning a lot from everyone here. And thanks to a lot of the information I've picked up from the boards I am closing on my first house tomorrow!! I need to obtain a credit card with a decent CL (4k) so that I can purchase a refrigerator and feel comfortable about having available credit in case something major is needed for the house. I received a pre-approval offer for the Citi Diamond Preferred rewards card and I was wondering if there was any chance of me getting approval for the card especially since I plan to apply prior to my mortgage information hitting my CR. According to the credit report I received from my loan officer my TransUnion score is 725, Equifax is 682 and Experian is 705. My DTI ratio is relatively low and I make a little over 50k per year. I don't have a lot of inquiries for credit as I made sure not to apply for credit when I decided to purchase a home. What are my chances of getting approved for a Citi Bank card with a decent credit limit?

Frequent Contributor
illtakecreditforthat
Posts: 320
Registered: ‎05-03-2009

Re: Citi Diamond Preferred Rewards Card


WorkInProgress78 wrote:

Hi, 

 

I have been reading all of the information I can on the myFico boards and learning a lot from everyone here. And thanks to a lot of the information I've picked up from the boards I am closing on my first house tomorrow!! I need to obtain a credit card with a decent CL (4k) so that I can purchase a refrigerator and feel comfortable about having available credit in case something major is needed for the house. I received a pre-approval offer for the Citi Diamond Preferred rewards card and I was wondering if there was any chance of me getting approval for the card especially since I plan to apply prior to my mortgage information hitting my CR. According to the credit report I received from my loan officer my TransUnion score is 725, Equifax is 682 and Experian is 705. My DTI ratio is relatively low and I make a little over 50k per year. I don't have a lot of inquiries for credit as I made sure not to apply for credit when I decided to purchase a home. What are my chances of getting approved for a Citi Bank card with a decent credit limit?


Welcome to the the Forum!!

 

First of all congrats on the mortgage; however, do not app for any card until it closes.

 

The Citi Diamond Preferred is a good entry level credit card.  I've had it for several years, with consistent CLIs.  The rewards are mediocre but acceptable.  In the past, I'd say it was a comparatively easy card to get with your score.  However, CITI has been aggressively RateJacking and just reported an $8 billion credit card loss.  That being said, its still probably your best bet for a prime card.

I want PATIENCE...and I want it NOW
Contributor
LaserBlue
Posts: 88
Registered: ‎04-05-2008

Re: Citi Diamond Preferred Rewards Card

I apped for this card in 4/08 (the same month I refi'd my house) with numbers not terribly different from yours.  They pulled EQ (680-700, don't remember exactly, and no major baddies), and I was approved with a $1,600 CL.  I've received CLIs every quarter since then, and am now at $10,400.  Citi is the ONLY bank that has given me steady CLIs for the last 18 months through the financial crisis.  They are now #2 in my wallet behind Amex.  The rewards are pretty mediocre compared to Amex Rewards and Discover Cashback since there's not that much stuff you can redeem for, but it's better than nothing and it's still a good card.  I would consider it a prime card.

 

I typically run about $200 every month and PIF, and high balance is around $1,500 a couple of months ago.

 

So yes, it's a good card if you can get it.

Scores on4/8/10: TU 731 EQ 731
Unapologetic Amex fan
New Member
WorkInProgress78
Posts: 2
Registered: ‎10-03-2009

Re: Citi Diamond Preferred Rewards Card

 I closed at 9 am this morning on my house and I was just approved for the Citi Diamond Preferred Card with a $4900 credit limit!  Thank you for your responses!! :smileyvery-happy:
Regular Contributor
Zar
Posts: 107
Registered: ‎04-23-2008

Re: Citi Diamond Preferred Rewards Card

Congratulations! It's a nice looking card although the rewards are not great. Use it wisely and Citi will increase your limits on it with certain frequency too.

 

Zar :smileyhappy:


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