Citi Double Cash Pre-Qual Question

Anonymous · ‎03-05-2017

I get offers in the mail from Citi Double Cash all the time, however they say that after the 0% APR period, the APR jumps to like 19%. I just did a pre-qual check on Citi's website and it shows a specific 13.99% purchase APR. Is this a solid offer or is there a chance I'll get denied if I apply? Right now I have no 0% APR cards so might consider this one.

Curious what you think?

Saleen099 · ‎03-05-2017

Those are pretty solid offers but don't look for a very high credit limit because Citibank is really conservative. With that being said I could be wrong. I think you should be pretty good.

Anonymous · ‎03-05-2017

@Saleen099 wrote:
Those are pretty solid offers but don't look for a very high credit limit because Citibank is really conservative. With that being said I could be wrong. I think you should be pretty good.

Yeah, I know they're conservative. I'm looking at my pulls over the past 2 years. I have a pull on 1/11/17 with EX, prior to that it's been over a year. No pulls at all the past year on EQ. Those are historically the two Citi Double Cash pulls from. I really don't "have" to have the card though.

Anonymous · ‎03-05-2017

@Anonymous wrote:
@Saleen099 wrote:
Those are pretty solid offers but don't look for a very high credit limit because Citibank is really conservative. With that being said I could be wrong. I think you should be pretty good.
Yeah, I know they're conservative. I'm looking at my pulls over the past 2 years. I have a pull on 1/11/17 with EX, prior to that it's been over a year. No pulls at all the past year on EQ. Those are historically the two Citi Double Cash pulls from. I really don't "have" to have the card though.

If you are interested in a 2% cashback card I would recommend looking at either the new PenFed one (it gives 2% if you leave $500 in a checking account, have DD set up, or are military), or the Fidelity Visa instead.

Citi's attempt at a 2% card seems to be much slower at posting the cash back, and has a potentially-annoying minimum redemption threshold.

Anonymous · ‎03-05-2017

Pre-qual looks solid, to answer that question, but yes there are other issues with it as a cash back card

Anonymous · ‎03-05-2017

I have one. The problem is not getting it. The problem is what you have to do get the points. If you pay to soon you don't get points. With their low limits you have to watch what you spend with them.

Anonymous · ‎03-05-2017

That's the same apr ( or there abouts) they started me at 4500 SL in my simplicity, my DW started her at 5500 on her D.C.

DeeBee78 · ‎03-06-2017

@Anonymous wrote:
I get offers in the mail from Citi Double Cash all the time, however they say that after the 0% APR period, the APR jumps to like 19%. I just did a pre-qual check on Citi's website and it shows a specific 13.99% purchase APR. Is this a solid offer or is there a chance I'll get denied if I apply? Right now I have no 0% APR cards so might consider this one.

Curious what you think?

Generally, a Citi prequal is a solid offer, but there are always exceptions.

I was prequalifed for the Costco Visa last month. I app'd and was immediately denied. Recon failed as well.

kdm31091 · ‎03-06-2017

You mention not having any 0% APR cards, but the Citi offer you have isn't 0% on purchases either. Your rate will be 13.99% out of the gate. 0% only applies to balance transfers.

If you don't really need it, I wouldn't go for it just for the sake of it. The prequal with Citi is generally fairly reliable (though you can still be denied) but there's no need to apply if the card doesn't fill a need at this point.

Citi's cash back system is rather clunky and slow. If you do not PIF before the statement cuts, you're looking at a 2 month delay for your full 2%. There's a $25 minimum to redeem, which becomes more annoying when you already have to wait quite awhile to get your rewards.

There's also the issue that Citi tends to be conservative with starting limits. It would suck to come out of the garden for a 2 or 3k approval which is very common with the Double Cash.

TL, DR; I would pass on it.

Anonymous · ‎03-06-2017

@kdm31091 wrote:
You mention not having any 0% APR cards, but the Citi offer you have isn't 0% on purchases either. Your rate will be 13.99% out of the gate. 0% only applies to balance transfers.

If you don't really need it, I wouldn't go for it just for the sake of it. The prequal with Citi is generally fairly reliable (though you can still be denied) but there's no need to apply if the card doesn't fill a need at this point.

Citi's cash back system is rather clunky and slow. If you do not PIF before the statement cuts, you're looking at a 2 month delay for your full 2%. There's a $25 minimum to redeem, which becomes more annoying when you already have to wait quite awhile to get your rewards.

There's also the issue that Citi tends to be conservative with starting limits. It would suck to come out of the garden for a 2 or 3k approval which is very common with the Double Cash.

TL, DR; I would pass on it.

I agree with you on everything you said about Citi. I certainly don't need the card, as I already have a couple of good 1.5% cash backs and not really needing a new card. I was surprised the mailings they send me are much higher purchase APRs than what the pre-qual is showing which really isn't bad at all. With total CC debt of 2%, there's no need to waste a HP on this card. I've from being on this forum that Citi is very conservative with their SL on this card too so why be disappointed. Thanks for your excellent points.