topic Re: Citi Double Cash Pre Approval in Credit Cards

Citi Double Cash Pre Approval

dapps06 — Thu, 24 Mar 2016 19:54:45 GMT

For probably two years I've routinely checked the pre-qual pages for all the major lenders, today I had my first pre-approval for Citi, for their DC card. I haven't applied for anything in nearly eight months, but I have high utilization on a Cap 1 card right now, around 10k on a 13.8k limit. Since I have no Citi cards I don't know how their limits start, I realize it depends on income and other factors, but are 10k limits rare for people with high UTL for one card? My overall UTL is around 18 percent, and like I said zero inquiries for just under eight months. I have one negative item, a settled auto loan that's approaching six years old. Is Citi notorious for low limits? Are there any other cards in their lineup that would likely give me a higher limit than the DC?

Re: Citi Double Cash Pre Approval

FinStar — Thu, 24 Mar 2016 20:11:15 GMT

Honestly, if what's listed on your profile is current, Citi isn't going to give you a high SL off the get-go on Double Cash. There are a lot of factors that weigh into their quirky algorithms. On the upside, it's possible that because you haven't applied for much credit in a while that it can work in your favor, but the high utilization on one card would not, for example.

As far as Citi (or any of their cards), I think the strategy should be approached more along with applying for a product that fits benefits-wise with your lifestyle as opposed to just getting a card that starts with a high SL.

Re: Citi Double Cash Pre Approval

Anonymous — Thu, 24 Mar 2016 20:47:48 GMT

@FinStar wrote:
Honestly, if what's listed on your profile is current, Citi isn't going to give you a high SL off the get-go on Double Cash. There are a lot of factors that weigh into their quirky algorithms. On the upside, it's possible that because you haven't applied for much credit in a while that it can work in your favor, but the high utilization on one card would not, for example.

As far as Citi (or any of their cards), I think the strategy should be approached more along with applying for a product that fits benefits-wise with your lifestyle as opposed to just getting a card that starts with a high SL.

I agree!

Re: Citi Double Cash Pre Approval

ultimatefighter — Thu, 24 Mar 2016 21:16:15 GMT

I received the Citi Double Card Pre-Approval offer too. My wife did too. We got them for a couple of months and finally applied. My FICO and credit history is a bit stronger than my wife's but income and such is the same. Happy to report we BOTH were approved and both received a $5500 CL. That's pretty good to start with.

Re: Citi Double Cash Pre Approval

Anonymous — Thu, 24 Mar 2016 22:20:54 GMT

@ultimatefighter wrote:
I received the Citi Double Card Pre-Approval offer too. My wife did too. We got them for a couple of months and finally applied. My FICO and credit history is a bit stronger than my wife's but income and such is the same. Happy to report we BOTH were approved and both received a $5500 CL. That's pretty good to start with.

That's a good initial SL. You must have app' with a high income.

Re: Citi Double Cash Pre Approval

Anonymous — Thu, 24 Mar 2016 23:09:26 GMT

@Anonymous wrote:
@ultimatefighter wrote:
I received the Citi Double Card Pre-Approval offer too. My wife did too. We got them for a couple of months and finally applied. My FICO and credit history is a bit stronger than my wife's but income and such is the same. Happy to report we BOTH were approved and both received a $5500 CL. That's pretty good to start with.
That's a good initial SL. You must have app' with a high income.

Yes, for sure. I'm at 80k and they only gave me $1,700.

Re: Citi Double Cash Pre Approval

dapps06 — Thu, 24 Mar 2016 23:45:18 GMT

@FinStar wrote:
Honestly, if what's listed on your profile is current, Citi isn't going to give you a high SL off the get-go on Double Cash. There are a lot of factors that weigh into their quirky algorithms. On the upside, it's possible that because you haven't applied for much credit in a while that it can work in your favor, but the high utilization on one card would not, for example.

As far as Citi (or any of their cards), I think the strategy should be approached more along with applying for a product that fits benefits-wise with your lifestyle as opposed to just getting a card that starts with a high SL.

The main purpose of applying for the card would be to transfer a balance, I do also like the card in general. My main concern is applying and getting a low limit that doesn't allow me to transfer what I want to transfer. Judging from this thread, and looking at credit pulls database, it's not likely I'd receive anything more than 1-2k, so I'm going to hold off for now.

Re: Citi Double Cash Pre Approval

Anonymous — Sat, 26 Mar 2016 20:33:21 GMT

770ish TU score, applied for double cash, got $3k limit yesterday... disappointingly low...

Re: Citi Double Cash Pre Approval

Anonymous — Sat, 26 Mar 2016 20:55:40 GMT

@Anonymous wrote:
770ish TU score, applied for double cash, got $3k limit yesterday... disappointingly low...

That's what I had, with similar scores, maybe a little higher at the time. My TU is still over 800