topic Re: Citi Diamond Preferred Invitation in Credit Cards

Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 19:23:12 GMT

It's been a long, long time in coming... but, I just received an offer in the mail for a prime MC!!! You rarely see someone get this happy over receiving a piece of "junk" mail!!! Huge milestone!!!!!

So, I'm sitting here looking at the offer. No AF and a $100 statement credit with $600 spending within the first three months. That's an easy threshhold to cross.

But, I've been sitting back gardening because I would like to get a BoA Platinum Plus card that offers rewards. The rewards aren't stellar -- 1% in points -- but it's an affinity card that supports my alum association. So, I want it because, well, I just do.

Now, back to Citi... The Diamond Preferred doesn't offer rewards. At some point, I really wouldn't mind having a Citi Forward. The dining rewards would be something that DH and I would definitely find useful. So, my questions to the forum are:

How is Citi with regard to doing a PC? How much usage would the card need to have in order to be able to PC, and for how long? Would it be worth trying to get a foot in the door with Citi now with the goal of doing a PC down the road?

How solid are Citi's offers to apply? I've had really good luck lately with apps, having been approved for Amex Green even with blemishes on my reports. Is Citi pickier than Amex?

Does anyone know what CRA Citi tends to pull from for Florida?

Any thoughts would be appreciated. The final decision is, of course, my own. But, I've received so much valuable information from folks on this forum and I always believe in doing one's best to make informed decisions. Thanks in advance.

Re: Citi Diamond Preferred Invitation

n777ua — Thu, 29 Sep 2011 20:39:28 GMT

I've had good luck with Citi lately, getting approved for both Diamond and Hilton with CL's over $10k each. Good luck.

Re: Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 21:33:51 GMT

Hey 777,

Congrats with the 10k on both cards...could you provide some detail about how long you waited in between apps, and also some details about scores and util? I'm thinking of going for the Citi Diamond Preferred, to pay of a balance, but was recently approved for the CITI Aadvantage...wanted to know if I need to wait longer , and what to expect.

Thanks

Re: Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 22:38:51 GMT

For me they pulled Ex. I have the Diamond Preferred World card with an $8300 limit. They'll show you the CLI request button every six months but can be very utilization sensitive. Customer service is good, if you're calling with questions about benefits. The customer service seems friendlier (less rushed) on their Cash Returns card.

Re: Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 22:46:09 GMT

@n777ua wrote:
I've had good luck with Citi lately, getting approved for both Diamond and Hilton with CL's over $10k each. Good luck.

Wow!!! Nice approvals! Congrats!!!

Re: Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 22:49:05 GMT

@Anonymous wrote:
For me they pulled Ex. I have the Diamond Preferred World card with an $8300 limit. They'll show you the CLI request button every six months but can be very utilization sensitive. Customer service is good, if you're calling with questions about benefits. The customer service seems friendlier (less rushed) on their Cash Returns card.

I'm currently sitting at 1%. I spent a long time paying off old balances and have become maniacal about PIF. Nevertheless, having a card with 0% APR for 21 months could be a handy thing in case of an emergency. What I'm asking is, though, how difficult would it be to PC down the road to a Citi Forward? Does getting a foot in the door first help?

Re: Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 22:59:34 GMT

@Anonymous wrote:
@Anonymous wrote:
For me they pulled Ex. I have the Diamond Preferred World card with an $8300 limit. They'll show you the CLI request button every six months but can be very utilization sensitive. Customer service is good, if you're calling with questions about benefits. The customer service seems friendlier (less rushed) on their Cash Returns card.

I'm currently sitting at 1%. I spent a long time paying off old balances and have become maniacal about PIF. Nevertheless, having a card with 0% APR for 21 months could be a handy thing in case of an emergency. What I'm asking is, though, how difficult would it be to PC down the road to a Citi Forward? Does getting a foot in the door first help?

Never had a reason to try. I don't know how Citi is when it comes to product changes. Guess it comes down to where you are on the credit journey. If there's no sense of urgency, waiting until positioned for the card you really want may make more sense.

Re: Citi Diamond Preferred Invitation

Anonymous — Thu, 29 Sep 2011 23:36:21 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
For me they pulled Ex. I have the Diamond Preferred World card with an $8300 limit. They'll show you the CLI request button every six months but can be very utilization sensitive. Customer service is good, if you're calling with questions about benefits. The customer service seems friendlier (less rushed) on their Cash Returns card.

I'm currently sitting at 1%. I spent a long time paying off old balances and have become maniacal about PIF. Nevertheless, having a card with 0% APR for 21 months could be a handy thing in case of an emergency. What I'm asking is, though, how difficult would it be to PC down the road to a Citi Forward? Does getting a foot in the door first help?
Never had a reason to try. I don't know how Citi is when it comes to product changes. Guess it comes down to where you are on the credit journey. If there's no sense of urgency, waiting until positioned for the card you really want may make more sense.

Not urgency, just excitment. I spent way, waaaaay too long with subprime cards. I got mired down on my credit journey, partially because I didn't realize how badly util affects scores. The information that I gained from these forums have been invaluable in helping me to improve my credit profile to get to the point where I'm finally starting to receive prime offers.

That being said, I'm now considering whether or not it might be a good idea to add a card to my mix that has a 0% APR. Not as an everyday card, but to keep on hand in case there's a need to make a major purchase and spread out payments. And I certainly would like to have a Citi card in my wallet -- much better than the FP and Orchard that I just booted out! And, the $100 statement credit is a very tempting bonus.

I won't make a decision today; I want to take my time and mull it over. The offer is good through Nov 30, so I have plenty of time.

Re: Citi Diamond Preferred Invitation

clocktick — Fri, 30 Sep 2011 05:31:30 GMT

I accepted an offer for the Citi Diamond Preferred a few months ago. It's 0% until February 2013. I received a decent CL and they pulled EQ for me, in NY. I did research it beforehand and found that I should be able to convert it to another Citi card when I'm finished with it. I can't tell you much about their customer service because I really never had a need to call them.

Hope this helps. Let us know what you decide to do!

Re: Citi Diamond Preferred Invitation

Anonymous — Sat, 01 Oct 2011 14:58:36 GMT

@clocktick wrote:
I accepted an offer for the Citi Diamond Preferred a few months ago. It's 0% until February 2013. I received a decent CL and they pulled EQ for me, in NY. I did research it beforehand and found that I should be able to convert it to another Citi card when I'm finished with it. I can't tell you much about their customer service because I really never had a need to call them.

Hope this helps. Let us know what you decide to do!

Thanks! This was very helpful.

After thinking about it, I realized that I have an planned expense coming up the beginning of the year related to my DD's education. It would be helpful to be able to spread it out into three monthly payments. So, if I take this offer, I'll be able to do so interest free, and receive the $100 statement credit. So, win/win. If I can convert the card down the road, so much the better!

I have decided that I'll go for it in another week or so. I have a Cap1 that is ready to hit its one year anniversary and I'd like a full year's reporting to show on it.

Once again, I appreciate the info!

Re: Citi Diamond Preferred Invitation

Anonymous — Sat, 01 Oct 2011 17:36:23 GMT

I just received a Citi thank you card. I chose it because I kept getting pre approvals for it. Even with baddies as recent as April, I got approved for $7200 cl! My DH just got one before me with $10200 Cl. So I think they are pretty generous with their Cl...this by itself was worth the inq. By the way, I give pre approvals a little more weight than most. When I first applied, I didn't have the invitation code...I was declined. The very next day, I found the code and tried it again, and got it! So if you are still building your credit, I would use the offer codes to be safe....even though there really is no guarantee! Good luck!

Re: Citi Diamond Preferred Invitation

Anonymous — Sat, 01 Oct 2011 17:45:29 GMT

@Anonymous wrote:
I just received a Citi thank you card. I chose it because I kept getting pre approvals for it. Even with baddies as recent as April, I got approved for $7200 cl! My DH just got one before me with $10200 Cl. So I think they are pretty generous with their Cl...this by itself was worth the inq. By the way, I give pre approvals a little more weight than most. When I first applied, I didn't have the invitation code...I was declined. The very next day, I found the code and tried it again, and got it! So if you are still building your credit, I would use the offer codes to be safe....even though there really is no guarantee! Good luck!

Wow! Thanks for the info. My baddies are from 6 years ago, so that gives me a sense of optimism.

I went up to financeglobe.com to research the card. I've been approved for cards this past year that have higher recommeded FICOs than I currently held. In this case, my scores are actually a little bit better than the recommendations. The recommendations listed are as follows:

"Credit Record Needed:
Based on the FICO score recommendation, applicants should have a fairly solid credit record, with no recent negative marks on their report. A FICO credit score of 660 is recommended for a higher chance of approval, but it is not required. There are a number of other factors that this issuer may also consider when making decisions for approval."

My scores are in my sig, so you can see that I'm within the target range. Of course, nothing is guaranteed. I'll just have to pull the trigger and see what happens. Until I hit the button and see the results, I'll sit tight and keep my fingers crossed.

Oh, and thanks for the advice about the invitation number. I'll make absolutely certain to hang onto it!

Re: Citi Diamond Preferred Invitation

Anonymous — Sat, 01 Oct 2011 17:47:38 GMT

When comparing the Citi Diamond to the City Thank You, which one would you say is better? I've read that a lot of people are switching to the Thank You or Dividentd MasterCard. The only reason I really wanted the Diamond was because it looks nice I plan on getting most of my points from Chase and Amex.

Re: Citi Diamond Preferred Invitation

clocktick — Wed, 30 Nov 2011 03:30:50 GMT

I wouldn't get a card because it looks nice. The Diamond Preferred if you want 0% on purchases and/or balance transfers. There are no rewards. The Thank You card if you want the Thank You points and want to earn rewards. There is no "best" choice and it depends on the person.

Edited because of a typo!

Re: Citi Diamond Preferred Invitation

Anonymous — Sat, 01 Oct 2011 20:00:52 GMT

I like cards with points, rewards, cash back and the like. I don't care about interest because I PIF every month. For that reason, I've ignored the Citi diamond preferred offer.
Be sure to update us when you go for it!

Re: Citi Diamond Preferred Invitation

clocktick — Sat, 01 Oct 2011 20:15:09 GMT

dharalex wrote:
I like cards with points, rewards, cash back and the like. I don't care about interest because I PIF every month. For that reason, I've ignored the Citi diamond preferred offer.
Be sure to update us when you go for it!

I hear you. I PIF too and never carry a balance...until...this 0% percent offer. I used one from Barclays and this one. I even put a used truck on one of them instead of paying in cash. To me, it's a win-win while my money sits in the bank making interest (although low!).

Re: Citi Diamond Preferred Invitation

Anonymous — Sat, 01 Oct 2011 21:18:14 GMT

@Anonymous wrote:
I like cards with points, rewards, cash back and the like. I don't care about interest because I PIF every month. For that reason, I've ignored the Citi diamond preferred offer.
Be sure to update us when you go for it!

Will do!

Re: Citi Diamond Preferred Invitation

Anonymous — Sun, 02 Oct 2011 13:04:28 GMT

It is a nice looking card, LOL!

The points are essentially useless, to me. I'm no fan of points where spending money is required for their redemption. The card serves a purpose but I'll be ecstatic once it's paid off in about six months.

Re: Citi Diamond Preferred Invitation

thom02099 — Sun, 02 Oct 2011 16:24:50 GMT

I have the Diamond Preferred card and it's rapidly becoming my "go to" card for every day use. Even though I PIF always, I like that option they offer of 0% IF I need it. When I applied, it was available for 21 months, so no change til 2013. And yes, the card is very cool looking!

Re: Citi Diamond Preferred Invitation

Anonymous — Sun, 02 Oct 2011 17:30:11 GMT

I appreciate all of the feedback. I've decided that I'm going to go for it. As stated previously, my DD's upcoming college expenses tipped the scales for me. In-state tuition in Florida is very affordable, especially at the two year colleges. So, my options for her upcoming semester are:

Pull a lump sum out of savings account. I can do this, but then I would have to decide how I wish to tender payment. My Cap1 rewards card doesn't have a large enough CL to accommodate. I COULD put it on my Amex Green, but I don't want to do anything "out of pattern" and risk triggering a FR; not worth it to me. I'd have to put it on a non-rewards card and then PIF, or write a check. Either way, I'd get nothing back. Meh...

Spread it out over time by using the Tuition Installment Plan. I can then spread payments out over three months, but there's a $35 processing fee. Yuck...

Accept the invitation for the Citi Diamond card and hope to be approved with a CL of at least $1500 -- preferably higher. Then, I can keep the money in my savings, spread the tuition out over three months and pay for it out of already budgeted monthly income, and get a $100 statement credit. Use someone else's money interest free and get money back? It's really hard to say no!

So... I'm planning on apping a week from tomorrow. That way, the one year mark for the "new credit ding" for my Cap1 MC will no longer be factored into my FICO scores. Also, a balance that I allowed to post to my Visa last month will be updated and back to $0. I wound up with the AF on my Orchard hitting before canceling the card, and a $14 charge sneaked in on my Cap1 MC the day the statement cut. So, on the day I plan to app, my util will look like this:

Cap1 Visa - 0 / 6400

Cap1 MC - 14 / 750

Orchard MC - 74 / 400 (card has been closed and is now at $0, but won't update until later in the month)

Dillard's Amex - 0 / 1700

JC Penney - 0 / 1500

Kay Jeweler - 0 / 5100

Amex Green - 604 (paid right after the statement cut)

(ETA): SST Visa - 0 / 3200 -- had this card since 2000. Formerly a Providian card. Card issuer declined to renew the card at one point, but it has been faithfully paid in full down to $0 and STILL reports as an open, active account. It helps my util and my AAoA, so I hope it sits on my report as open and active for a good, long time.

Overall util on revolving accounts: 1%

So, I think that I look good on util. Thoughts???