topic Re: CITI............seriously?? in Credit Cards

CITI............seriously??

Imhotrodcrazy — Sat, 25 Jul 2015 17:09:31 GMT

So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:15:05 GMT

@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.

Does it really matter? You should be paying in full anyways.

Re: CITI............seriously??

dwz55 — Sat, 25 Jul 2015 17:21:44 GMT

@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.

Yes it matters, what's the point of having such high Fico scores if you're getting crappy terms, its a slap in the face.

Re: CITI............seriously??

Imhotrodcrazy — Sat, 25 Jul 2015 17:22:12 GMT

@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.

I do PIF, and yes it really matters. I have worked hard to get where I am. I would never accept such an absurd interest rate at this point in my financial life.

Re: CITI............seriously??

Imhotrodcrazy — Sat, 25 Jul 2015 17:23:44 GMT

@dwz55 wrote:
@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.
Yes it matters, what's the point of having such high Fico scores if you're getting crappy terms, its a slap in the face.

Exactly, and thank you. That is exactly how I feel.

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:24:53 GMT

@dwz55 wrote:
@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.
Yes it matters, what's the point of having such high Fico scores if you're getting crappy terms, its a slap in the face.

You shouldn't be paying interest so the APR is moot... IF you want to pay the banks interest you can be my guest.

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:26:21 GMT

@Imhotrodcrazy wrote:
@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.
I do PIF, and yes it really matters. I have worked hard to get where I am. I would never accept such an absurd interest rate at this point in my financial life.

as I said you shouldn't be paying interest period .... I am more worried about rewards more then what is my APR. You also just looking at pre-qualified offers. I would rather cold app.

Re: CITI............seriously??

Anonymous — Sat, 25 Jul 2015 17:27:21 GMT

It seems like a lot of lenders are gradually raising interest rates now in anticipation of Janet Yellen raising the cost of borrowing.

Re: CITI............seriously??

Imhotrodcrazy — Sat, 25 Jul 2015 17:31:52 GMT

@Closingracer99 wrote:
I would rather cold app.

Have at it, and good luck.

Re: CITI............seriously??

Anonymous — Sat, 25 Jul 2015 17:33:37 GMT

@Imhotrodcrazy wrote:
@dwz55 wrote:
@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.
Yes it matters, what's the point of having such high Fico scores if you're getting crappy terms, its a slap in the face.
Exactly, and thank you. That is exactly how I feel.

Having a lower APR is nice, but the only real things I care about are: 1) Rewards, 2) Benefits, and 3) Limit. The first two are most important since I generally get much higher limits than I need. APR is a bonus, but since I don't carry a balance, I don't need low APR cards. I have a low APR 50k limit card for emergencies (CU), but never use it. If a card offered me better rewards (points/bonus/cash back etc) or better benefits (lounge access and other perks), a high APR would not deter me from applying for the card.

Pride in your score is fine, but you should not let your pride keep you from getting a card that has good overall value for you. If you carry balances occasionally, APR is likely the most important term. If you never carry balances, have a good stash of cash for emergencies, and don't anticipate carrying a balance, then low APR is a "bonus" term that is nice but not necessary. Don't get me wrong, I like having low APRs as well. But if I had to choose between a 3.1% cash back card with 29.99% APR and no fees or a 3% card with 7% APR and no fees, I would pick the former everytime. Why? I don't carry a balance and 0.1% cash back is better than 22.99% reduction in APR.

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:38:24 GMT

@Imhotrodcrazy wrote:
@Closingracer99 wrote:
I would rather cold app.
Have at it, and good luck.

I have all the Citi cards I want. APR is around 20% with my scores. You'll get approved for the card with your scores... Better off Cold apping and probably get a better APR.. Doesn't really matter unless your planning to carry a balance which you shouldnt be doing

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:40:18 GMT

@Anonymous wrote:
@Imhotrodcrazy wrote:
@dwz55 wrote:
@Closingracer99 wrote:
@Imhotrodcrazy wrote:
So I decided to check the Citi site for pre-approvals. All the cards came up for me. But hold on, the interest rate after 21 months is 22.99%, and with my scores. Citi will not be in my wallet.
Does it really matter? You should be paying in full anyways.
Yes it matters, what's the point of having such high Fico scores if you're getting crappy terms, its a slap in the face.
Exactly, and thank you. That is exactly how I feel.
Having a lower APR is nice, but the only real things I care about are: 1) Rewards, 2) Benefits, and 3) Limit. The first two are most important since I generally get much higher limits than I need. APR is a bonus, but since I don't carry a balance, I don't need low APR cards. I have a low APR 50k limit card for emergencies (CU), but never use it. If a card offered me better rewards (points/bonus/cash back etc) or better benefits (lounge access and other perks), a high APR would not deter me from applying for the card.

Pride in your score is fine, but you should not let your pride keep you from getting a card that has good overall value for you. If you carry balances occasionally, APR is likely the most important term. If you never carry balances, have a good stash of cash for emergencies, and don't anticipate carrying a balance, then low APR is a "bonus" term that is nice but not necessary. Don't get me wrong, I like having low APRs as well. But if I had to choose between a 3.1% cash back card with 29.99% APR and no fees or a 3% card with 7% APR and no fees, I would pick the former everytime. Why? I don't carry a balance and 0.1% cash back is better than 22.99% reduction in APR.

I'll take a card with 5% CB on everything over a 2% APR. I'll gladly accept an APR or 30% on it if it gave me 5% CB on every purchase. I would just look for a low APR card like the Ring which has a 8% APR

Re: CITI............seriously??

noobody — Sat, 25 Jul 2015 17:40:59 GMT

my score is fairly stable over past year just around 800, Pre qualify from citi went from no offer to over 22% to 18%, that was when I apply premier 5 month ago.
since then, they lower my Apr to 15% and just gave me 5K SP CLI to 13K.
Citi shows no offer for me now.
I do think offer 20+ Apr to top tier potential applicants is an insult.

Re: CITI............seriously??

Anonymous — Sat, 25 Jul 2015 17:42:03 GMT

I always cold app and never use the pre approvals. I will say when I look at the pre approvals the APR is always higher than my actual app. But as others have said, who really cares? My scores are in the 800s too and I could give two craps what the APR is. I don't need to borrow past grace, so rate doesn't matter.

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:42:23 GMT

@noobody wrote:
my score is fairly stable over past year just around 800, Pre qualify from citi went from no offer to over 22% to 18%, that was when I apply premier 5 month ago.
since then, they lower my Apr to 15% and just gave me 5K SP CLI to 13K.
Citi shows no offer for me now.
I do think offer 20+ Apr to top tier potential applicants is an insult.

Insult to your pride? Sure? I got news for you get over it... It's just your pride. I'll take benefits and rewards over pride any day of the week

Re: CITI............seriously??

Closingracer99 — Sat, 25 Jul 2015 17:44:06 GMT

@Anonymous wrote:
I always cold app and never use the pre approvals. I will say when I look at the pre approvals the APR is always higher than my actual app. But as others have said, who really cares? My scores are in the 800s too and I could give two craps what the APR is. I don't need to borrow past grace, so rate doesn't matter.

Citi also been offering me promos where I am getting 9.99% APR on my simplicity cards. I've also read plenty on here they offer 0% APR from time to time. my Discover card is offering a 0% APR promo for 12 months or something like 5% for 18 months with no BT Fee

Re: CITI............seriously??

Anonymous — Sat, 25 Jul 2015 17:44:13 GMT

my scores are around 760, and i was getting 17.99% apr prequal online few weeks ago, and all of sudden it got changed to 22.99%

but i do have mailed prequal from citi for 15.99% apr for double cash, i better keep that thing until it expires just in case i wanna apply for it later.

Re: CITI............seriously??

Anonymous — Sat, 25 Jul 2015 17:47:58 GMT

If you need to carry a balance get a Barclay ring or a zero percent on purchases card. If your paying in full you shouldn't be worrying about APR's.

Re: CITI............seriously??

Anonymous — Sat, 25 Jul 2015 17:50:22 GMT

@noobody wrote:
my score is fairly stable over past year just around 800, Pre qualify from citi went from no offer to over 22% to 18%, that was when I apply premier 5 month ago.
since then, they lower my Apr to 15% and just gave me 5K SP CLI to 13K.
Citi shows no offer for me now.
I do think offer 20+ Apr to top tier potential applicants is an insult.

no one should take these offered APRs as some sort of personal insult. If you're applying to Citi, Chase, Barclays (exception being the Ring) for low interest credit cards then you're applying to the wrong place. There are plenty of credit unions that offer very good low APRs for that. These are reward cards period and if you're carrying balances whether it's 22.9% or 15.99% you're wasting your money and defeating the rewards. If a Citi card has some reward that appeals to you and you don't apply because an online preapproval (which does not set your APR if you apply from the main site) then your being obstinate and only hurting yourself.

Ill also add that 800 Fico 08 scores aren't some guarantee of a low APR. There are many other factors that determine your final APR, one of which is your bankcard enhanced score which Citi uses.

Re: CITI............seriously??

Andy77 — Sat, 25 Jul 2015 17:49:56 GMT

When I got my citi secured card in 2009 my interest rate was 20 5 + apr One day I called and asked if they would lower it and I got it lowered to 11.99

21 % for cash.

Fast forward 5 years and I have citi aa exec, same card, did conversion and credit line merge and have still 11.99

So, if you got the card....just call and ask for an apr reduction, they might give you one or PIF and you would have no issues