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Citi Double Cash closed

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kdm31091
Super Contributor

Re: Citi Double Cash closed

I understand OP closing it because it makes little sense for Citi to be giving out Double Cash with tiny limits. As I always say, it's meant to be a general spend card. That would tend to mean it's the card you're meant to use most of the time. With a 1-2k limit, you can't! Yes, it will (sometimes) grow over time, but that's not really the point of this card. If they can't give you a decent limit on a general spend card, what's the point?

 

Yes, 2% beats 1.5% on paper for sure. Whether the difference is honestly significant depends on your spending level. I prefer Quicksilver overall because the rewards paid out right away, no min. redemption, etc. These things can give it an edge over DC for some people even with a slightly lower reward rate.

Message 21 of 29
thelethargicage
Valued Contributor

Re: Citi Double Cash closed

@OP:

 

Were you trying to get a SP CLI? Or were they all HPs?


Message 22 of 29
wacdenney
Valued Contributor

Re: Citi Double Cash closed


@lg8302ch wrote:

@wacdenney wrote:

Looks like it was 10 denials in the last 12 months.  E-communications are only available for 12 months...  The card was a PC from Diamond prefferred.  I've had had it a little over 2 years I believe.

 


wow... .What was the reason they indicated ?


The reason is always the same.  Too many INQs and too many new accounts.

Message 23 of 29
wacdenney
Valued Contributor

Re: Citi Double Cash closed


@chalupaman wrote:

@wacdenney wrote:

@chalupaman wrote:

@wacdenney wrote:

@Anonymous wrote:

@wacdenney wrote:

There was a time when I thought I wanted a prodeuct from every lender.  Live and learn right...  I am certainly over that way of thinking at this point and I honestly think the low limit pulling down my average limit was contributing to lower starting limits on other cards.  I would love to close my GA's Own CU card since it's my next lowest limit but it's also my lowest APR at 9.99% so I really need it as a part of my profile. 

 

I really have no use for the BofA card anymore.  I wonder if they would move that limit to Fidelity AMEX.  Does FIA do that??


I don't think they'll move your limit to a Fidelity co-branded card. And if they did, they would require a hard inquiry on your credit.


I did an online chat and they confirmed that they would move the limit between a card issued by BofA and a card issued by FIA Card Services but you are correct in that they also stated that it would require an HP.  I can't say that I really understand why I would have to take an HP for that, but regardless I declined.  I'll just leave it in it's SD home for now.


How many do you have on your TU file though? If you're not gonna be applying for anything that pulls that bureau specifically for now, I wouldn't worry that much about a HP in this case and the effect on your FICO eventually disappates anyway. 

 

If you really have no use for that card in particular, wouldn't it be better for you to have that card's whole limit consolidated with a card that you actually do have use for?


I have too many INQs everywhere...  EQ=29  TU=21  EX=19


Hasn't exactly stopped you from getting those good cards in your sig. You have a much thicker file than I do so those inquiries aren't gonna affect you as much IMO. Were a lot of those inquiries made in the last six months?


Yes several were.  I haven't really slowed down for any considerable amount of time for awhile now.  Plus I bought a car so there are quite a few of them from that.

Message 24 of 29
wacdenney
Valued Contributor

Re: Citi Double Cash closed


@thelethargicage wrote:

@OP:

 

Were you trying to get a SP CLI? Or were they all HPs?


Those were all SP denials.

Message 25 of 29
wacdenney
Valued Contributor

Re: Citi Double Cash closed


@kdm31091 wrote:

I understand OP closing it because it makes little sense for Citi to be giving out Double Cash with tiny limits. As I always say, it's meant to be a general spend card. That would tend to mean it's the card you're meant to use most of the time. With a 1-2k limit, you can't! Yes, it will (sometimes) grow over time, but that's not really the point of this card. If they can't give you a decent limit on a general spend card, what's the point?

 

Yes, 2% beats 1.5% on paper for sure. Whether the difference is honestly significant depends on your spending level. I prefer Quicksilver overall because the rewards paid out right away, no min. redemption, etc. These things can give it an edge over DC for some people even with a slightly lower reward rate.


I will likely revert to my Fidelity AMEX for any non category spend.  Most of my spending falls within the gas and dining AARP 3% categories so it's not much anyways.

 

I am planning to use QS heavily next month to see if it effect my steps CLI.  I was literally shocked when they doubled my CL to 4k recently so I am willing to throw some spend their way and see what happens.  If I actually end up being able to get my QS to 5k, I may actually not close it when the intro APR runs out.

 

idk...  I'm still pissed they screwed me out of the signup bonus so who knows.  We'll see.

Message 26 of 29
Anonymous
Not applicable

Re: Citi Double Cash closed


@chalupaman wrote:

@wacdenney wrote:

@Anonymous wrote:

@wacdenney wrote:

There was a time when I thought I wanted a prodeuct from every lender.  Live and learn right...  I am certainly over that way of thinking at this point and I honestly think the low limit pulling down my average limit was contributing to lower starting limits on other cards.  I would love to close my GA's Own CU card since it's my next lowest limit but it's also my lowest APR at 9.99% so I really need it as a part of my profile. 

 

I really have no use for the BofA card anymore.  I wonder if they would move that limit to Fidelity AMEX.  Does FIA do that??


I don't think they'll move your limit to a Fidelity co-branded card. And if they did, they would require a hard inquiry on your credit.


I did an online chat and they confirmed that they would move the limit between a card issued by BofA and a card issued by FIA Card Services but you are correct in that they also stated that it would require an HP.  I can't say that I really understand why I would have to take an HP for that, but regardless I declined.  I'll just leave it in it's SD home for now.


How many do you have on your TU file though? If you're not gonna be applying for anything that pulls that bureau specifically for now, I wouldn't worry that much about a HP in this case and the effect on your FICO eventually disappates anyway. 

 

If you really have no use for that card in particular, wouldn't it be better for you to have that card's whole limit consolidated with a card that you actually do have use for?


I agree!

Message 27 of 29
Anonymous
Not applicable

Re: Citi Double Cash closed


@Anonymous wrote:

Long live the Double Cash!


I agree!

Message 28 of 29
Anonymous
Not applicable

Re: Citi Double Cash closed


@Brusilov wrote:

@wacdenney wrote:

I had it awhile.  A couple of years maybe.  At least 18 months.  It was a PC from Diamond Prefferd. 

 

Dead weight.  Bof A may be next on the list!!


 

I personally think you might have been a little too hasty.  The DC was only launched ~ 6 months ago, correct?  They may have only denied your CLIs due to limited experience with the newly PC'd card.  I can't argue with you about the low starting limits, but at the end of the day it still beats flat 1.5% cards.


I agree with you Brusilov. I initially received a $2600 CL, but I submitted a CLI on 02/25/15 and my limit was increased to 8K. I am conservative when asking for CLI, but I've read posts from others who have gotten more. I aap'd for my card in Jan 2015. Once I received it, I requested a CLI then but was denied. I think it was declined initially because I had just received a CLI on my Simplicity card. Either way, I'm happy with the service I've received from Citibank. 

Message 29 of 29
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