topic Re: Citi Double Cash Approved in Credit Card Approvals

Citi Double Cash Approved

IFtkkdx428 — Mon, 10 Sep 2018 23:19:42 GMT

Hello myFICO members,

I was approved for a Citi Double Cash with a starting Credit Limit of $9,200. I was hoping for $12,000. However, I’m hoping the Double Cash will grow with time. From what I’ve read, I can take advantage of a soft pull Credit Limit increase in 3-6 months. Can anyone confirm?

For the past couple of years, I have had great trouble with Capital One in regards to Credit Limit increases. FICO score has increased, but not the limit of the Quicksilver MasterCard. Regardless, I learned of ‘bucketing’ and found an excellent thread (I have since lost this link, please provide if you have it) with an excellent myFICO member, who went into the great detail of how cardholders are kept in certain tiers (or classes) based on your risk at the time of application.

The Quicksilver MasterCard is the only flat-rate non-specific category card I have, which means that I tend to make more purchases with it compared to other cards that I have. With that said, the small Credit Limit of $6,250 often creates short term negative consequences regard to utilization.

Once I receive the Double Cash, I will close the Quicksilver Mastercard. Which is the first trade line I have established. Originally which was a Platinum Mastercard, then a Quicksilver One Mastercard.

This is the first step of re-evaluating current lending relationships. Which consists of closing trade lines which aren’t continuing to grow or are no longer useful, as I take the next step into the credit journey. More to come. Data points below are before application.

Age: 26

Annual Income: $38,000.00 (Base)

Monthly Rent/Mortgage Payment: $0

TU FAKO (Provided by Credit Karma on (9/10/18): 802

TU FAKO (Provided by Capital One on 9/9/18): 802

TU FAKO (Provided by Chase on 9/10/2018): 802

EQ FAKO (Provided by Credit Karma on 9/10/18): 797

TU FICO (Provided by Barclay on 8/12/18): 769

TU FICO Score 8 (Provided by Discover on 9/4/18): 769

EQ FICO Bankcard Score 02 (Provided by Huntington on 8/14/18): 776

EX FICO Score 8 (Provided by AMEX on 8/15/18): 779

EQ FICO Score NG 2 (Provided by PenFed): 789

Credit Card Utilization Rate: 2%
Percent of On Time Payments: 100%

On Time Payments: 330

Total Payments: 330

AAoA: 3 YR 10 MOS

Oldest Open Trade Line: 5 YRS 7 MOS

Newest Open Trade Line: 2 YRS 4 MOS

Total Accounts: 8

Total Credit Limit: $79,550

TU Inquiries: 0

EQ Inquiries: 1

EX Inquiries: 0

Total Inquiries: 0

Derogatory Marks: 0

Current Credit Cards

Capital One Quicksilver Mastercard

APR: 26.65%

Credit Limit: $6,250

Card issued: Jan/2013
Credit Card Utilization Rate: 18%

Chase Freedom Visa

APR: 20.74%

Credit Limit: $4,500

Card Issued: Jan/2014

Credit Card Utilization Rate: 0%

Barclaycard Rewards Mastercard

APR: 22.74%

Credit Limit: $7,100

Card Issued: July/2014

Credit Card Utilization Rate: 0%

American Express Blue Cash Everyday

APR: 17.74%

Credit Limit: $22,200

Card Issued: Nov/2014

Credit Card Utilization Rate: 0%

Huntington Voice World Mastercard

APR: 19.49%

Credit Limit: $3,500

Card Issued: Nov/2014

Credit Card Utilization Rate: 1%

Discover It

APR: 16.74%

Credit Limit: $28,500

Card Issued: May/2015

Credit Card Utilization Rate: 0%

PenFed Promise Visa

APR: 15.74%

Credit Limit: $7,500

Card Issued: June/2015

Credit Card Utilization Rate: 1%

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Re: Citi Double Cash Approved

NaaryalHead — Mon, 10 Sep 2018 23:36:50 GMT

Congrats on the nice card and SL. Better than the QS indeed.

I PCed to the same card today after my vanilla MC that was just graduated. Albeit with a much smaller limit hehe.

Re: Citi Double Cash Approved

MrDFinance — Mon, 10 Sep 2018 23:42:41 GMT

Congrats....

Re: Citi Double Cash Approved

simplynoir — Tue, 11 Sep 2018 00:09:55 GMT

Congrats there!

Re: Citi Double Cash Approved

CreditCuriosity — Tue, 11 Sep 2018 00:27:11 GMT

Congrats that is a VERY good CL considering your income and CITI being a fairly conservative lender. It will grow with sp clis although you might hit you CL ceiling with citi alot sooner than say your discover card limit..

Re: Citi Double Cash Approved

AverageJoesCredit — Tue, 11 Sep 2018 02:24:58 GMT

+1 CC, insanely good sl. Should reach your 12k goal with 1st sp increase.
Congrats

Re: Citi Double Cash Approved

Anonymous — Tue, 11 Sep 2018 03:13:40 GMT

That was an impressively detailed post, IT. Thank you for sharing the DPs.

And Congrats! on your new Citi card. Please update us when you grab your 1st CLI.

Re: Citi Double Cash Approved

Anonymous — Tue, 11 Sep 2018 04:20:47 GMT

Nice! Congrats on the approval! Not 12K but a nice SL indeed. Double Cash is a sweet card indeed. They actually have been doing targeted signup bonuses lately too. Just when I thought it couldn't get better!

Re: Citi Double Cash Approved

LunaBuna — Tue, 11 Sep 2018 04:52:15 GMT

DILLY DILLY

Cheers.gif

Re: Citi Double Cash Approved

SweetCreditObsession — Tue, 11 Sep 2018 06:38:07 GMT

Congratulations!

Re: Citi Double Cash Approved

IFtkkdx428 — Tue, 11 Sep 2018 11:51:04 GMT

@NaaryalHead wrote:
Congrats on the nice card and SL. Better than the QS indeed.

I PCed to the same card today after my vanilla MC that was just graduated. Albeit with a much smaller limit hehe.

Thank you! I hope you also enjoy the 2% Double Cash like I plan to!

Re: Citi Double Cash Approved

IFtkkdx428 — Tue, 11 Sep 2018 11:54:56 GMT

@CreditCuriosity wrote:
Congrats that is a VERY good CL considering your income and CITI being a fairly conservative lender. It will grow with sp clis although you might hit you CL ceiling with citi alot sooner than say your discover card limit..

Thank you! I’m looking forward to see where this Citibank relationship ends up! I’m glad to hear soft pull Credit Limit increases are common with Citibank!

Re: Citi Double Cash Approved

xaximus — Tue, 11 Sep 2018 12:15:24 GMT

Congrats on the approval and great SL! As others have mentioned, you should be able to hit 11k/12k on your first CLI. One thing to keep in mind for the QS is - if there's another product at Cap1 that seems decent, PC to that. Either that or SD it and throw a small charge on it every month (netflix, hulu, etc.) and set it up for autopay.

Re: Citi Double Cash Approved

19eighty5 — Tue, 11 Sep 2018 17:01:06 GMT

Congratulations on your approval- nice starting limit!

Re: Citi Double Cash Approved

GetMeSlick — Tue, 11 Sep 2018 18:18:16 GMT

Congrats OP. Very nice card. Grows every 6 months. Time to make some recurring calendar meeting for getting Citi DC SP Cli.

I do that all the times for my Citi DC and Simpliciti. They had grown to good CL cards now.

Re: Citi Double Cash Approved

Anonymous — Tue, 11 Sep 2018 18:38:37 GMT

Congratulations 🎊