@Sharingan wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:I could use some input on whether the Citi Double Cash is a good idea for me, or just an itchy trigger finger impulse! I want to apply for something else before my 2 new Amex cards report and tank my AAoA, and I can't decide if the Double Cash is my best bet.
Current cards and CLs are in my signature (though Discover is still reporting my old limit of $6,000 instead of $10,500). I'd rather not apply for anything with a bonus that requires over $500 spend or an AF right now, unless it has an AF but can be easily PCed to something else worthwhile with no fee. Double Cash would be a slight advantage over my current catch-all spend card for things that don't fall into a bonus category, but it's only a .35% difference (Travel Rewards effectively gives me 1.65% cashback). I'm torn between trying for the Double Cash or looking for something that's likely to give me a high SL, since it seems like another card with a higher limit would be a nice addition to my file long-term
I'm also seeing mixed things online about the Double Cash interface being frustrating/sometimes not actually giving 2% if you're someone who often PIFs before statement close (which I am), which makes it more complicated.
TU is 765, other scores likely around the same. Currently only one inquiry on each report.
I have the card and I don't recommend it.
1. It usually gives low starting credit limits.
2. It's usually not very generous about increasing limits.
3. In the 10 or 11 months I've had it, there has been no soft pull CLI offer.
4. It has had no balance transfer capability since the first month.
5. There is a 1-month delay in getting your first of the two reward points.
6. There is a 2-month delay in getting the second of the two reward points.
7. You can't redeem your rewards until you have $25 worth.
For my money the Quicksilver is a much better card. Even the Barclay Rewards card is better, in terms of purchases and rewards.
I disagree on points 1>4
I received a 6k starting limit on this card which is not bad. I took additional HP after 40 days and was increased to 15k which is what I asked for I probably should have asked for higher. They have a 6 mo between increase policy but immediately after the 6mo lapsed I hit luv button online and received sp cli 1700 to 16.7K. Regarding BT the first offer was great 0% for 15 months (3% fee) but this also included direct deposit BT which is really nice. I've had another offer since then and currently have a BT offer for 3% fee and 3.99%apr for 12 I think. Granted not a knock your socks off offer but including direct deposit.. it's pretty good.
Price rewind feature, WMC, 2% general spend, decent customer service when I've called. You do have to wait until statement for the points, or two statements for half of it if you don't PIF before cut, and the redemption threshold is high at $25 so the card has some drawbacks but overall I've found it to be an excellent credit product.
I disagree on points 1-4 as well.
Points 1-3 are much more attributable to the applicant/borrower than they are to the card itself. I've even been able to get simultaneous SP increases on a few of my Citi cards at once upon 6 months elapsing. As for number 4, my DC came with 0% for 18 months, and the current public offer is 0% for 15 months for transfers completed within the first 4 months. All of my Citi cards get frequent BT offers after the initial offer. While I certainly understand points 5-7, I personally don't believe that the instant gratification of the QS's reward structure is worth the .5% penalty on every-single-purchase. The most rewarding credit cards in general have a delay in receiving rewards, so I would have a hard time holding it against the DC. The card isn't for everyone, but I believe that it holds its own against the competition quite well since very few have offered an uncategorized 2% CB product with no AF.
On an unrelated note, I really don't think that the QS's SLs are all that high either. I believe that it would quite erroneous for one to associate the Venture's anomalous and unusually high limits with the rest of Capital One's products.
+1 my POV as well. Points 1-4 were no issues IME.
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:I could use some input on whether the Citi Double Cash is a good idea for me, or just an itchy trigger finger impulse! I want to apply for something else before my 2 new Amex cards report and tank my AAoA, and I can't decide if the Double Cash is my best bet.
Current cards and CLs are in my signature (though Discover is still reporting my old limit of $6,000 instead of $10,500). I'd rather not apply for anything with a bonus that requires over $500 spend or an AF right now, unless it has an AF but can be easily PCed to something else worthwhile with no fee. Double Cash would be a slight advantage over my current catch-all spend card for things that don't fall into a bonus category, but it's only a .35% difference (Travel Rewards effectively gives me 1.65% cashback). I'm torn between trying for the Double Cash or looking for something that's likely to give me a high SL, since it seems like another card with a higher limit would be a nice addition to my file long-term
TU is 765, other scores likely around the same. Currently only one inquiry on each report.
I have the card and I don't recommend it.
1. It usually gives low starting credit limits.
2. It's usually not very generous about increasing limits.
3. In the 10 or 11 months I've had it, there has been no soft pull CLI offer.
4. It has had no balance transfer capability since the first month.
5. There is a 1-month delay in getting your first of the two reward points.
6. There is a 2-month delay in getting the second of the two reward points.
7. You can't redeem your rewards until you have $25 worth.
For my money the Quicksilver is a much better card. Even the Barclay Rewards card is better, in terms of purchases and rewards.
I disagree on points 1>4
I received a 6k starting limit on this card which is not bad. I took additional HP after 40 days and was increased to 15k which is what I asked for I probably should have asked for higher. They have a 6 mo between increase policy but immediately after the 6mo lapsed I hit luv button online and received sp cli 1700 to 16.7K. Regarding BT the first offer was great 0% for 15 months (3% fee) but this also included direct deposit BT which is really nice. I've had another offer since then and currently have a BT offer for 3% fee and 3.99%apr for 12 I think. Granted not a knock your socks off offer but including direct deposit.. it's pretty good.
Price rewind feature, WMC, 2% general spend, decent customer service when I've called. You do have to wait until statement for the points, or two statements for half of it if you don't PIF before cut, and the redemption threshold is high at $25 so the card has some drawbacks but overall I've found it to be an excellent credit product.
Well said!
@FinStar wrote:
@Sharingan wrote:
@Anonymous wrote:
@SouthJamaica wrote:
@Anonymous wrote:I could use some input on whether the Citi Double Cash is a good idea for me, or just an itchy trigger finger impulse! I want to apply for something else before my 2 new Amex cards report and tank my AAoA, and I can't decide if the Double Cash is my best bet.
Current cards and CLs are in my signature (though Discover is still reporting my old limit of $6,000 instead of $10,500). I'd rather not apply for anything with a bonus that requires over $500 spend or an AF right now, unless it has an AF but can be easily PCed to something else worthwhile with no fee. Double Cash would be a slight advantage over my current catch-all spend card for things that don't fall into a bonus category, but it's only a .35% difference (Travel Rewards effectively gives me 1.65% cashback). I'm torn between trying for the Double Cash or looking for something that's likely to give me a high SL, since it seems like another card with a higher limit would be a nice addition to my file long-term
TU is 765, other scores likely around the same. Currently only one inquiry on each report.
I have the card and I don't recommend it.
1. It usually gives low starting credit limits.
2. It's usually not very generous about increasing limits.
3. In the 10 or 11 months I've had it, there has been no soft pull CLI offer.
4. It has had no balance transfer capability since the first month.
5. There is a 1-month delay in getting your first of the two reward points.
6. There is a 2-month delay in getting the second of the two reward points.
7. You can't redeem your rewards until you have $25 worth.
For my money the Quicksilver is a much better card. Even the Barclay Rewards card is better, in terms of purchases and rewards.
I disagree on points 1>4
I received a 6k starting limit on this card which is not bad. I took additional HP after 40 days and was increased to 15k which is what I asked for I probably should have asked for higher. They have a 6 mo between increase policy but immediately after the 6mo lapsed I hit luv button online and received sp cli 1700 to 16.7K. Regarding BT the first offer was great 0% for 15 months (3% fee) but this also included direct deposit BT which is really nice. I've had another offer since then and currently have a BT offer for 3% fee and 3.99%apr for 12 I think. Granted not a knock your socks off offer but including direct deposit.. it's pretty good.
Price rewind feature, WMC, 2% general spend, decent customer service when I've called. You do have to wait until statement for the points, or two statements for half of it if you don't PIF before cut, and the redemption threshold is high at $25 so the card has some drawbacks but overall I've found it to be an excellent credit product.
I disagree on points 1-4 as well.
Points 1-3 are much more attributable to the applicant/borrower than they are to the card itself. I've even been able to get simultaneous SP increases on a few of my Citi cards at once upon 6 months elapsing. As for number 4, my DC came with 0% for 18 months, and the current public offer is 0% for 15 months for transfers completed within the first 4 months. All of my Citi cards get frequent BT offers after the initial offer. While I certainly understand points 5-7, I personally don't believe that the instant gratification of the QS's reward structure is worth the .5% penalty on every-single-purchase. The most rewarding credit cards in general have a delay in receiving rewards, so I would have a hard time holding it against the DC. The card isn't for everyone, but I believe that it holds its own against the competition quite well since very few have offered an uncategorized 2% CB product with no AF.
On an unrelated note, I really don't think that the QS's SLs are all that high either. I believe that it would quite erroneous for one to associate the Venture's anomalous and unusually high limits with the rest of Capital One's products.
+1 my POV as well. Points 1-4 were no issues IME.
Ditto! My Double Cash is my go to card for all noncategory spend. It gets a lot of use in our house. I don't have any problems meeting the minimum redemption requirement. I also have the Cap1 QS that I don't use because of the high interest rate. I got my DC when Citi was still doing the double pulls for approval. I'm not sure if they are still doing it. For me, it was worth it. Best of luck to you OP!
Update: went ahead and applied for the Double Cash... approved, with a $6,000 CL! They pulled EQ, which was 770. APR of 18.99%.
I think it'll be a good one to have long-term (assuming it sticks around), and I'm anticipating an unusual amount of non-category spend in the next year, so I'm happy with the idea of maximizing those rewards. Plus the EQ FICO score will be nice to have, and now I can hit the garden for a bit without any nagging what-ifs And my BoA Travel Rewards will still be very useful when I'm traveling internationally, so it won't get entirely relegated to the sock drawer.
Thanks again to everyone for weighing in, the perspectives from people who have or have considered the DC (and QS) were extremely helpful! I'll make a separate thread in the approvals section so I'm not clogging things up on this board, but figured I'd leave an update.