Citi Double Cash: Apply 09/15 or 12/15?

Anonymous · ‎09-07-2015

Greetings,

Background: I'm strongly considering application for this card. Even though it doesn't offer many short term benefits, I like the concept of establishing a long-term 2% floor on all categories of rewards. I use very little gas expenditure, and prefer superstore shopping (Reason I am not getting AmEx Preferred Blue). I eventually will look into supplementing a 5-6% card option, most likely rotational categories, once life slows down a little bit. Until then, the Double Cash will fit my needs, as opposed to simply wiring my payments.

Question: Does it make more sense to apply NOW (09/2015) or wait until the end of the year?
I've spoken with Citi representatives and they mentioned there may likely be changes to terms/conditions in 11-12/2015, but indicated they could not provide any information past that. They did, however, infer that there would likely NOT be any changes to the $0 Annual fee, or the 1% Purchase/1% Pay Reward on all purchases. The APR Intro does absolutely nothing for me, since I won't be carrying a balance, but I am prospectively considering waiting if there's any possibility of a signing bonus being added.

Thanks much.

thelethargicage · ‎09-07-2015

It's Citi, so they must be nerfing something. I'd app right now if I were you.

longtimelurker · ‎09-07-2015

WIthout any way of knowing if the CSRs are correct, and, more importantly, what any changes might be, you really cannot make much of a decision. In any event, some kinds of change can be imposed immediately (with the option of closing the card and paying off balance under the current agreement) so going 9/15 won't help you escape those.

If the card will be useful, and your CR isn't going to change greatly (such as a baddie falling off) may as well get it now.

Anonymous · ‎09-07-2015

Yeah, I'm eventually trying to aim to simply get one card from each big time company, so I can at least upgrade/change as new offers roll through as needed. I have a Wells Fargo VISA and a Southwest RR Visa (They fly my routes). The Wells Fargo Visa essentially sits without use, until they adopt some rewards worthwhile. Now that I have a much more reliable income, I want to ensure I get a set of cards that make sense. I think this one would be a great start.

Thank you both. With your responses, I agree it makes more sense to get it now.

Anonymous · ‎09-07-2015

All set.

APR: 18.99% after the intro period (Again, would like to carry no balance anyway, ever)
CL: $12,000

Callandra · ‎09-07-2015

^Awesome starting limit! Congrats!

Quicksilver $10,000 | Better Balance Rewards $2000 | Sallie Mae $3500 | Freedom $3500

Last HP: 9/27/2015

kdm31091 · ‎09-07-2015

If it doesn't change the 1%/1%, then the changes are likely something silly like removal of some benefit no one uses or something, ala the recent Discover "nerfs".

Waiting a few months because there's a chance of a bonus is IMO silly unless you knew for a fact that was the case. Congrats on the approval. I think apping now was the right choice as you had no real reason to wait in this case.

Definitely hanging on to my QS for backup though. The instant 1.5% is nice.

chrisw1968uk · ‎09-07-2015

Nice limit but the terms seem contradictory - On one hand, they are saying "you're a good guy" by giving you $12k SL - but then knocking you with 18.99%, who am I to try and figure this out? lol CONGRATS on the starting limit and approval, Its a good card, that I use almost daily

Anonymous · ‎09-07-2015

@chrisw1968uk wrote:
Nice limit but the terms seem contradictory - On one hand, they are saying "you're a good guy" by giving you $12k SL - but then knocking you with 18.99%, who am I to try and figure this out? lol CONGRATS on the starting limit and approval, Its a good card, that I use almost daily

But its Citibank....and Citi is just citi....

Looking at my credit limit, what would you guess my APR to be??? Well....out of all my cards, it is my lowest APR at 13.99% (DC's second lowest apr)...0 for 18 months.... They pulled my Equifax for approval end of july, which has the lowest inquiries.....

Not to mention online their offer was always 0 for 9 months then 22.9% for DP.....and mail offers most of the time were 0 for 12 then 19.99%..... except for this DC and a simplicity offer for 0 for 21 months then 12.99%. It pays to wait with Citi. In my experience their 0 percent terms get better sporadically along with APR, then its time to snag it.

I still am shocked I got approved when I did. Lots of new accounts. Scores just barely around 700.

Good thing is OP can easily get APR reduced later on...there is a guide floating around here somewhere. APR doesnt really mean anything to me right now either but you never know when you may have to carry a balance....

I am going to relax and not worry about any terms changing. I hope it isnt anything to do with reward redemption.....

Congrats on the great limit!

lhcole77 · ‎09-07-2015

@Anonymous wrote:
All set.

APR: 18.99% after the intro period (Again, would like to carry no balance anyway, ever)
CL: $12,000

Congrats. After promo ends don't forget to request APR reductions via online chat. Citi has been good with me for lowering them.