topic Re: Citi Card Info. Please in Credit Cards

Citi Card Info. Please

CardHunter — Wed, 03 Jan 2024 14:56:07 GMT

I have a pre selcted mailer from Citi for the Citi Custom Cash card with $200 SUB with $1,500 spend, 0% Intro APR on purchases and balance transfers for 15 months; after that the APR will be 20.24% (Per the mailer). I have never had a Citi card and I have heard Citi is conservative for first time cards, but I really don't want to start from the bottom again like I had to do with Amex, even though my Amex is now at $25,000 when it started at $1,000. I was going to use this card as one of my daily cards with the 5% cash back on top spend category, but it would be very hard to make this card a daily driver with a $2,000 - $3,000 credit limit. I'm looking for thoughts on Citi from Citi card holders before taking a HP. TIA.

EX FICO - 802 - 7/24

EQ FICO - 807 - 3/24

TU FICO - 811 - 6/24

Income - $120,000

DTI. - 3%

Re: Citi Card Info. Please

xenon3030 — Wed, 03 Jan 2024 15:10:50 GMT

It is from the marketing department without running a qualification check (ingore it). Use either prequal site or do self-assessment prior sending application.

Citi typically looks for 0/6 clean sheet on inquiries.

Re: Citi Card Info. Please

CardHunter — Wed, 03 Jan 2024 15:28:52 GMT

@xenon3030 wrote:
It is from the marketing department without running a qualification check (ingore it). Use either prequal site or do self-assessment prior sending application.

Citi typically looks for 0/6 clean sheet on inquiries.

That's what I was thinking untill I seen the set APR @ 20.24%. I've only had 1 Inq. in the last 6 months that hit my TU from BCU for a Auto loan. My last credit card inq. was 8 months ago with BCU for a $25,000 Cash Rewards Card. I have seen people say Citi is Inq. sensitive, so that has me a little worried. Thank you for the reply.

Re: Citi Card Info. Please

PNWRambler — Wed, 03 Jan 2024 16:55:02 GMT

I have two Citi cards and both SL's were about $4,500. They're now $6,700 and $7,500 about 18 months later. So even if they start you small, it doesn't take all that long to grow if you use it responsibly.

My scores are similar to yours now, slightly lower at the time of opening. But I have a large number of open revolving accounts and a fairly large overall credit limit of $134,600; I don't know that I'm ever sitting at 0 inquiries but I'm not up at 5+ either.

You can always try the pre-qual on their website without a HP

Re: Citi Card Info. Please

Anonymous — Wed, 03 Jan 2024 16:48:48 GMT

@CardHunter wrote:
, but it would be very hard to make this card a daily driver with a $2,000 - $3,000 credit limit.

Unless you have few other choices, you really don't want to use this card as a daily driver, as it earns only 1% in all but the top spend category. It's really for using on just one category, and as the 5% maxes out at $500 spend, even $2000 CL wouldn't be an issue, providing you pay it off before the card reports.

Re: Citi Card Info. Please

PNWRambler — Wed, 03 Jan 2024 16:53:47 GMT

@Anonymous wrote
Unless you have few other choices, you really don't want to use this card as a daily driver, as it earns only 1% in all but the top spend category. It's really for using on just one category, and as the 5% maxes out at $500 spend, even $2000 CL wouldn't be an issue, providing you pay it off before the card reports.

This is a good point as well. I love my CCC but I only use it for one category per month, usually gas. Paired with a few other rewards cards it is a great addition to my collection, but a "2% on all" would be a better DD if you only want to carry a single card. Or maybe something like AmEx Blue Cash, or Chase Sapphire Preferred depending on your spending habits.

Re: Citi Card Info. Please

CardHunter — Wed, 03 Jan 2024 17:03:44 GMT

@Anonymous wrote:
@CardHunter wrote:
, but it would be very hard to make this card a daily driver with a $2,000 - $3,000 credit limit.

Unless you have few other choices, you really don't want to use this card as a daily driver, as it earns only 1% in all but the top spend category. It's really for using on just one category, and as the 5% maxes out at $500 spend, even $2000 CL wouldn't be an issue, providing you pay it off before the card reports.

Good point, thank you.

Re: Citi Card Info. Please

FICO-Quest — Fri, 05 Jan 2024 08:57:01 GMT

They have sent me few of these mailers over the past year to year and a half with a fixed interest rate and I've been worried about a low credit limit as well. Since I was already interested in the card, I went ahead and submitted the app online only to get a denial back the first with a "not enough use of existing cars, too low balances" type of excuse for denying me EQ 8 BC score at that time was around 790. Applied from another mailer 4-6 months later, EQ 8 BC score now 810 and they wanted verification with IRS form 4506 to validate extra non work income I reported. They came back with a "wrong from was sent"' I needed a 4506 T instead of the 4506 C they sent me. Sent that one back and received a reply they put the wrong address on the 4506T for response of the transcripts. Talked to an underwriter during all of this who told me the don't like to see excessive inquiries or new accounts in the 6 months to a year prior to applying, and that the run apps through an internal scoring system that evaluates closing balances on all cards. They like to see some usage - challenging for me since I usually practice AZEO. I gave up at that point.

A little over a year since receiving the first mailer, I received my third mailer. I completed the app online, was provided an approval at the 21.24% interest rate for $8400 within 24 hours. Another 24 hours after that and it was showing in my online Citi account - just had to wait for the physical card. I have a CitiGold account package and services with them, have held core Citi cards on and off from 1989 until about 2005 that have always been in good standing before I closed them, and they put me through the wringers. But the $8400 SL is adequate for most daily use. Interestingly that is exactly 2X my recent highest balance posted/reported on a US Bank card -and- I had 2 new inquiries and 2 accounts slightly less than 6 months old at approval of the Citi card (go figure). I'm feeling OK with my limit, and just assume the rest of that year long process was just Citi being it's unusual self at times (have seen lots of idiosynchronies over the years from them). It all worked out in the end, just took awhile...

P.S. This approval was on stated income of $120k/yr, 5% utilization, EQ 8 BC 818.

Re: Citi Card Info. Please

CardHunter — Sat, 06 Jan 2024 11:21:00 GMT

@FICO-Quest wrote:
They have sent me few of these mailers over the past year to year and a half with a fixed interest rate and I've been worried about a low credit limit as well. Since I was already interested in the card, I went ahead and submitted the app online only to get a denial back the first with a "not enough use of existing cars, too low balances" type of excuse for denying me EQ 8 BC score at that time was around 790. Applied from another mailer 4-6 months later, EQ 8 BC score now 810 and they wanted verification with IRS form 4506 to validate extra non work income I reported. They came back with a "wrong from was sent"' I needed a 4506 T instead of the 4506 C they sent me. Sent that one back and received a reply they put the wrong address on the 4506T for response of the transcripts. Talked to an underwriter during all of this who told me the don't like to see excessive inquiries or new accounts in the 6 months to a year prior to applying, and that the run apps through an internal scoring system that evaluates closing balances on all cards. They like to see some usage - challenging for me since I usually practice AZEO. I gave up at that point.

A little over a year since receiving the first mailer, I received my third mailer. I completed the app online, was provided an approval at the 21.24% interest rate for $8400 within 24 hours. Another 24 hours after that and it was showing in my online Citi account - just had to wait for the physical card. I have a CitiGold account package and services with them, have held core Citi cards on and off from 1989 until about 2005 that have always been in good standing before I closed them, and they put me through the wringers. But the $8400 SL is adequate for most daily use. Interestingly that is exactly 2X my recent highest balance posted/reported on a US Bank card -and- I had 2 new inquiries and 2 accounts slightly less than 6 months old at approval of the Citi card (go figure). I'm feeling OK with my limit, and just assume the rest of that year long process was just Citi being it's unusual self at times (have seen lots of idiosynchronies over the years from them). It all worked out in the end, just took awhile...

P.S. This approval was on stated income of $120k/yr, 5% utilization, EQ 8 BC 818.

Great info. Thank you.

Re: Citi Card Info. Please

Traveler101 — Sat, 06 Jan 2024 12:14:40 GMT

Have you considered BOA customized cash rewards card? Great card and can grow like wildfire for the rite profile. Promo for bal and purchasing. Definitely not stingy on opening credit lines either, again, all profiles are YMMV. Plus sp cli's. Definitely a card to consider. Best of luck to you.

Re: Citi Card Info. Please

CardHunter — Sun, 07 Jan 2024 02:48:12 GMT

@Traveler101 wrote:
Have you considered BOA customized cash rewards card? Great card and can grow like wildfire for the rite profile. Promo for bal and purchasing. Definitely not stingy on opening credit lines either, again, all profiles are YMMV. Plus sp cli's. Definitely a card to consider. Best of luck to you.

Thank you for the reply. After taking in the info. here and some other research, I have decided to pass on Citi and look more into the Wells Fargo Autograph card and the BOA. collection of cards. Thank you for the recommendation!

Re: Citi Card Info. Please

xenon3030 — Sun, 07 Jan 2024 03:18:55 GMT

The CCC has a fairly small monthly cap ($500 only). It is a good card to cover a few categories that the other cards do not cover. I put it permanently for YouTube TV.

If you like the CB world vs travel points, the combo of BOA CCR (3-5% online shopping) and US Bank AR (4.5% on digital wallet --> redeem for travel) should cover lots of daily expenses with an effective AF of $75. You may add a few more cards for further optimization of all categories.

Re: Citi Card Info. Please

Tdatb64 — Mon, 08 Jan 2024 02:44:54 GMT

@PNWRambler wrote:
I have two Citi cards and both SL's were about $4,500. They're now $6,700 and $7,500 about 18 months later. So even if they start you small, it doesn't take all that long to grow if you use it responsibly.

My scores are similar to yours now, slightly lower at the time of opening. But I have a large number of open revolving accounts and a fairly large overall credit limit of $134,600; I don't know that I'm ever sitting at 0 inquiries but I'm not up at 5+ either.

You can always try the pre-qual on their website without a HP

Their pre-qual has been unavailable for months (since Sept. or Oct.).