topic Re: Citi card good offer but should I apply. in Credit Cards

Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 17:20:33 GMT

Just a hypothetical question.

I have a citi card Citi Divident that I got last year has a CL of 12k. My charge every month on it is around $1200 and I pay in full.

Today I received a card offer from CITI for Diamond Preferred with 0%APR for 21 months. Just wondered CITI will give me another card for atleast 5k?

thanks.

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 17:29:43 GMT

That Citi card is a great deal with 0% interest for 21 months on purchases and balance transfers.

I keep getting the offer in the mail too, but I have not pulled the trigger. I may need minor surgery next year (about 4K), so I would apply when I need it.

Citi will hand out more than one card. They give good CL's, and you got 12K from them. So long as your CR looks good overall (not just with CIti, but low UTIL overall, good scores and no excessive apps), I think 5K is doable.

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 18:10:35 GMT

Thanks Raenys,

I am getting ready for the shopping season plus a speeding ticket. Just want to spread the spending over 20 months.

Hope our surgery goes well.

Re: Citi card good offer but should I apply.

Strepthroat — Fri, 28 Oct 2011 18:15:16 GMT

That's a very good offer voidman, however, I don't think the Diamond card offer any rewards but if that doesn't matter, definitely apply if you think you will get use out of the card. They're generous with their credit limits on multiple cards. I have 3, and the credit limits range from $10,500 to $25,000. But check their site for current promotions/rewards cards.

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 19:06:12 GMT

Strepthroat,

yeah it is a good offer and I know this one does not have any rewards but it offers a $100 statement credit if I spend $500 in 60 days or something. I don't mind with the lack of rewards because I am having tough time keeping track of rorating rewards that I have already.

2 months back I had received better offer from Discover. 21(or 18 months not sure) months of 0% APR for purchase and BT ANDT 0% transfer fees and rotating rewards. I didn't need any credit back then so I shreaded it. Arrrgg!!

Re: Citi card good offer but should I apply.

Strepthroat — Fri, 28 Oct 2011 19:13:49 GMT

Cool beans, definitely apply.

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 21:31:41 GMT

I think you did the right think shredding the Discover app. You didn't need the credit then, so why take it. Exactly the reason I am holding off my diamond app.

Diamond is not a rewards card, but it clearly has a great purpose. For those that need to carry a balance, the 21 "free months" of no interest is perhaps the best reward you can get in this scenario. Carrying a balance on a reward card that generally has higher interest rates cancels out the benefit of the rewards. The interest rates on non-reward cards also tend to be lower when they do kick in, and a non-reward card is generally easier to obtain. Thus if you must carry a balance, better to carry it interest free on the diamond preferred card, and pay all of your other reward cards in full every month.

Out of respect to the OP please don't change the title of the thread. Leave that up to the OP.

MarineVietVet, myFICO moderator

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 21:31:51 GMT

Yes, I did the right thing at that time. Anyway, no point in thinking about it. I will apply for this card latter this evening.

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 22:17:05 GMT

Good luck!!!!!

Re: Citi card good offer but should I apply.

Anonymous — Fri, 28 Oct 2011 22:18:56 GMT

@Anonymous wrote:
I think you did the right think shredding the Discover app. You didn't need the credit then, so why take it. Exactly the reason I am holding off my diamond app.

Diamond is not a rewards card, but it clearly has a great purpose. For those that need to carry a balance, the 21 "free months" of no interest is perhaps the best reward you can get in this scenario. Carrying a balance on a reward card that generally has higher interest rates cancels out the benefit of the rewards. The interest rates on non-reward cards also tend to be lower when they do kick in, and a non-reward card is generally easier to obtain. Thus if you must carry a balance, better to carry it interest free on the diamond preferred card, and pay all of your other reward cards in full every month.

Out of respect to the OP please don't change the title of the thread. Leave that up to the OP.

MarineVietVet, myFICO moderator

That must have been an error on my part. I didn't even know it happened. I must have hit something on my laptop. Apologies moderator.

Re: Citi card good offer but should I apply.

MarineVietVet — Fri, 28 Oct 2011 23:40:25 GMT

@Anonymous wrote:

That must have been an error on my part. I didn't even know it happened. I must have hit something on my laptop. Apologies moderator.

I appreciate your understanding and hope you can see what I was trying (probably very poorly) to say. If everyone edits the title to what they want the entire thread becomes a mishmash of confusion.

(Just between you and me I've caught myself doing the same thing by accident. I'm not sure how it happens)

Re: Citi card good offer but should I apply.

Anonymous — Mon, 31 Oct 2011 00:35:21 GMT

I applied and got approed for CL $5500. Not bad for my requirement.

Re: Citi card good offer but should I apply.

Anonymous — Mon, 31 Oct 2011 01:09:47 GMT

Fabulous!!!

congratulations!!!