topic Re: Citi Thank You Preferred CC in Credit Cards

Citi Thank You Preferred CC

Anonymous — Sat, 14 May 2011 00:14:52 GMT

I just received an Email from MyFico about the Live Interview with Fico and Bankrate, in part of the Email it says Leslie McFadden, Bankrate's credit card adviser, will interview Careen Foster of FICO to get an in depth and inside look into the way credit scores are computed.

I would love to listen to this interview, but, its at 2:00EDT Monday May 16, 2011, but I'll be at work

Anyway, I was just looking at some of the CC's on Bankrate's site and I found the Citi Thank You Preferred CC, it looks like a pretty decent CC with some good rewards, one of the nice things about Bankrate's site is that it allows you to look for CC's for people with Excellent, Good, Average, and Bad Credit, so I was looking at the "Good" credit CC's.

As you can see my credit scores in my siggy,Good, not Excellent.

EQ 700, 4 inq's June, Sep, Sep, Sep 2010.

TU 727, 4 inq's June, Sep, Dec, Dec 2010

EX 710, 3 inq's June, Sep 2010 and March 2011.

CO 2005 0 Bal (Fraud acct, I never had this CC, disputed it several times, I have given up for now, DOFD 1/2006 on all 3 CR's.

Oldest acct is 27.8 years old my AAoA is 4 years EQ, 5 yrs TU, 5 yrs EX.

I have 6 CC's, 4 with 0 balance, Cap 1 with a 180 bal and AmEx Optima Platinum 140 bal.

I really hate for them to pull EQ because the hard inq will put me below 700, funny as it seems, EQ is my best looking report but my lowest score, my Car Loan thru my Credit Union is on EQ's report, over a year old, perfect payment history and all the same CC's that are on TU and EX, all perfect payment history, my util is 2% on all three CR's

All that said, should I have a problem being approved for the Citi Thank You Preferred? Is it a good CC? Anyone have any other suggestions in regards to a better CC? I think the rewards sound good for me with the Citi. Is Citi conservative or are they pretty decent with starting CL's?

I want the AmEx Blue Cash Preferred, but I just recently applied for the AmEx Blue Cash and was approved 3/28/11 so I have to wait 90 days before applying for that one. (and AmEx will backdate to 91, they did with my Blue Cash) So that's a big plus, I really do not want a new acct, but in the long run having the Citi will help my scores increase as the card ages and my payment history is perfect.

So with all that said, your opinions, advice would mean a great deal to me,

Thank you in advance.

Re: Citi Thank You Preferred CC

trumpet-205 — Sat, 14 May 2011 00:25:24 GMT

I wouldn't say it has nice reward. Average TY point yields 0.6% to 0.8% return (even worse than plain 1% return card). Only certain gift card and Expedia (I believe?) yield 1% return.

In general, unless you are apping Citi Forward or Citi mtvU, you should avoid Citi card that is using ThankYou rewards. I would recommend Citi Dividend Platinum Select instead.

I think you have no problem of getting TY Perferred with your credit scores/histories.

Citi pulled EX twice for me, for both Forward and Dividend Platinum Select. I live in East Bay, CA.

Re: Citi Thank You Preferred CC

tray — Sat, 14 May 2011 00:44:25 GMT

I would say go for it, any citi card, citi is a prime bank as well as very generous with cli's which extremely helps with utilization and this bank also gives a generous starting cl, for example i only had my card for a year now, started at $4,200.00( my credit score then was in the high 600's) I am now at $13,450.00 as you can see generous cli's citi gave and all my cli's have been soft pulls as well, I have the platinum select, furthermore as for me my scores are not very high neither. I wish you all the good luck.

Re: Citi Thank You Preferred CC

tsquad131 — Sat, 14 May 2011 06:57:04 GMT

the only thing citi doesnt like is a lot of recent inquiries anything more than 2-3 in a 6 month period may trigger a denial at least thats what they told me. they told me to be inquiry free for the next 6 months and keep up what im doing and I would be approved for any starter card

Re: Citi Thank You Preferred CC

Anonymous — Sat, 14 May 2011 17:41:09 GMT

I appreciate the replies, I got to thinking about it and I think it would best suit me to wait till Sep, I'll then be inq free. The last 2 inq's that fell off EQ (one of which is Citi, so I think they will pull EQ) were worth 7 points each, so if I wait till those 4 inq's fall off in Sep, I could potentially be somewhere around a 728 EQ and inq free to boot.

I also forgot to mention that my AmEx Blue Cash (backdated to 91) has not been reported to the 3 CRA's, should be the 27th of this month, and if it lists as opened in 91 like many people have told me here at MyFico (in another thread I asked about backdating, my AmEx CC says "Member Since 91" as well) that 20 year old AmEx CC might give me a small boost in points as well, increasing my AAoA, well, I would love to see a increase in my score due to that.

I've worked so hard to get my EQ to a 700 and I just can't bear to app for the Citi right now which I am almost certain will pull EQ and be back in the 690's, I'll wait till Sep and hope its a 728 or a bit higher if my 20 year old backdated AmEx CC gives me a few points. And I'm just not sure that I would be approved for either the Dividend or the Select at this time with a 700.

I'm thinking the Citi Dividend Platinum Select or the Citi Platinum Select, not sure right now.

I thank you again for the replies.

You all are always such a great help, I greatly appreciate it!

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 17:03:12 GMT

Well this changes everything, as of Thurs 5/12/11 I was living with this HSBC CO that was never mine, I disputed it 4 times and gave up, I updated my reports today and the CO is gonnnnnnnnnnnneeeeeeeee!!!!!!! Finally HSBC and/or the CRA's (I assume HSBC, because its off all three Bureaus) did a PROPER investigation and determined it WAS NOT EVER my acct.......so heres my "New Scores" EQ from 700 and TU 727 as of Thursday last week.

So now maybe I SHOULD apply for the Citi Dividend Card????

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 17:09:10 GMT

why just citi?

apply for whatever you want...fidelity 2% back or costco, anything your heart desires. congrats

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 17:48:32 GMT

Thank you!! I would really like one more prime CC right now, I have an AmEx Blue Cash and I need to wait another 45 days from now to app for the BC Preferred because I just apped for the Blue Cash 3/28/11 (have to wait 90 days before apping for any other "Blue" type CC) according to AmEx.

So yeah, I'm now in the market for a Prime CC that will give a good initial CL and that has a good cash back program.

Any suggestions?

Re: Citi Thank You Preferred CC

trumpet-205 — Sun, 15 May 2011 18:17:36 GMT

Here is few,

Citi Dividend Platinum Select - 5% cashback first 6 months, at least 2% on rotating category, 1% otherwise.

Citi Forward/mtvU - Around 3.3% back at entertainment, bookstore, Amazon and restaurant, 0.7% otherwise.

Chase Freedom - 5% cashback on rotating category, 1% otherwise.

Chase Amazon - 3% cashback at Amazon, 2% on gas, dining, drugstore, and office supply purchases, 1% otherwise.

Discover More - 5% cashback on rotating category, at least 5% cashback through Shop Discover, 0.25% first $3000 annual spending or discount store, 1% otherwise.

Discover Escape - 2% cashback for every spending if redeemed on travel expense. AF - $60.

Fidelity AMEX - 2% cashback for everything. Requires a Fidelity account. You'll need at least $2500 to open an account at Fidelity.

NASA Credit Union Visa - 1% cashback at first $1000 monthly spending, 1.25% on $1001~2000, 2% on $2001 or more monthly spending.

Bank of America Accelerated Cash AMEX - 1.25% cashback on everything.

US Bank Flexperk Cash Visa - Open a Gold/Platinum package along with the card and you get 1.25/1.5% cashback on everything.

PenFed Reward Visa - 5% cashback on gas, 1% otherwise.

Capital One Venture - 2% cashback if used on travel expense. No AF for first year, $59 afterwards.

Capital One VentureOne - 1.25% cashback if used on travel expense. No AF.

Capital One NoHassel Cash - 2% cashback on grocery, 1% otherwsie. Excellent credit version has no AF.

AMEX Costco - 3% cashback on gas/restaurant, 2% cashback on travel, 1% otherwise. Requires Costco membership.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 20:04:24 GMT

Just applied for the Discover More DECLINED!!!! With a pristine Credit Report and a score of 774????????????

Called the recon # and he told me an AAoA of 5 yrs is not good enough. That was the driving factor in my denial.

Oh and Discover does not use FICO scoring, they use some other method of scoring, he explained but I was so in disbelief I was not even paying attention.

I swear I've seen members here get the Discover More card with a 650 FICO and CO's and CA's on their reports, but I get denied with a perfect report, just a bit shorter AAoA than they like????

I will NEVER app for another Discover CC as long as I live.

Re: Citi Thank You Preferred CC

trumpet-205 — Sun, 15 May 2011 20:21:34 GMT

Call recon again. You may have better luck with different people.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 20:38:16 GMT

That's just wrong and Yes I would call again...But congrats on the Great scores.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 20:44:01 GMT

Regarding program rule for Fidelity amex,

Establishing, maintaining or funding an account with (or any other relationship with) Fidelity Brokerage Services LLC or any affiliate of Fidelity Brokerage Services LLC (collectively, "Fidelity" or "Fidelity Investments") is not required to obtain a Card or to be eligible to use Points to obtain any of the rewards offered under the Program other than the Fidelity Rewards (as further described and defined herein). Because eligibility requirements for obtaining a Card and opening a Fidelity account may differ, neither FIA Card Services, N.A. nor Fidelity can provide you any assurance that you will be able to establish a Fidelity account to receive Fidelity rewards

another quote from program rule,

Cash Rewards

Cash Rewards are different from Fidelity rewards. Cash rewards may be made at a lower redemption rate than Fidelity rewards. If you have a Fidelity account please refer to the Fidelity rewards section if you are interested in learning how to redeem points for deposits into that account.

Redeem Points for a variety of cash rewards either at the Site or by telephoning us.

A cash reward shall be issued in the form of a check for a predetermined U.S. dollar sum in the form of a check or an electronic deposit to a checking or savings account of your choice.

But is it really lower than Fidelity awards?

Currently available cash rewards and their respective Point requirements are:

2,500 Points = $12.50 Cash Reward ---> 1%

5,000 Points = $25 Cash Reward

7,500 Points = $37.50 Cash Reward

10,000 Points = $80 Cash Reward ---> 1.6%

15,000 Points = $120 Cash Reward

20,000 Points = $160 Cash Reward

25,000 Points = $250 Cash Reward ---> 2% Redemption rate start from here at $12,500

35,000 Points = $350 Cash Reward

50,000 Points = $500 Cash Reward

Just don't redeem it until you get at least 25,000 points.

Re: Citi Thank You Preferred CC

trumpet-205 — Sun, 15 May 2011 21:06:27 GMT

Hmm.... I guess you are right about that. Except,

Unless you are a big spender, you won't reach 25000 points that fast AND,

Points expire after 5 years.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 21:05:28 GMT

Best return on each category:

Grocery: Blue Cash Preferred 6%

Department Store: BlueCash Preferred 3%

Restaurants: Citi Forward 3.3%

Gas: Penfed 5%

Chase Freedom+Discover More to get 5% on many rotating categories as possible

Fidelity Amex: 2% on any categories not mentioned above

Maybe another card to get better travel rewards than 2% Fid Amex?

Basically, these 6 cards would seal the deal for me.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 21:10:28 GMT

spend 12500$ in 4 years( 260$/month) wouldn't be too hard just don't forget to redeem it at that point.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 22:29:43 GMT

I did a second recon and guess what????

APPROVED!!!! I guess the first guy I talked to either did not feel like going thru the hassle, or just did not know what to do.

I called back and got this very sweet woman, told her the situation, she asked if she could put me on hold for like 2-3 minutes, I said sure, she came back and said I was able to get you approved after talking with her supervisor. She cared about me as a potential customer and went the extra step, and got me approved.

I have to thank the two of you (trumpet-205 and Social Mark) who told me to call back because, I believed what the first guy told me "There was nothing that could be done and nothing he could do" so THANK you guys for that!!!!!

I was given a 2000CL, smaller than I had hoped for, but I'll take it, and I'm happy with that for now. I know this card will grow with me.

HA!!! Recons really work!!!!!!!

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 22:47:56 GMT

I just love Happy Endings.

Re: Citi Thank You Preferred CC

Anonymous — Sun, 15 May 2011 22:58:19 GMT

@Anonymous wrote:
I just love Happy Endings.

So do I

So do I!!!!!

Thanks again Social Mark, I'm glad I called back.

Re: Citi Thank You Preferred CC

clocktick — Tue, 17 May 2011 03:47:18 GMT

Haha, congratulations! That card is on my list to get at some point. Congrats on getting the CO removed that's not yours (I know the feeling). Woo hoo!