Decision on CSP or Citi Premier - new apply or upgrade?

[jellyroll2]

Hi all - l've lurked but finally decided to register as I'm having a tough time with this decision and other opinions may help.

So I'm trying to decide between the CSP and the Citi TY Premier (a decision I'm sure many have had to make) and my options are all over the place. First I've already got a Citi TY Preferred card that I've had since 2001 (at least some variation of it). It's got a SL of nearly $23K and an APR of about 13.5%. I've just received an upgrade offer to the Premier card which I would do in a heartbeat for the increased benefits but I'd miss out on the SUB. So I could just do a new apply and try for it but I likely won't get that kind of SL or that APR. Also it's a HP while the upgrade may not be (I need to check on that).

Now factor in that I can't decide if I want the CSP or the TYP right now. I think I'd get better usage from the bonus categories of the TYP but the UR program is apparently better all around than the TY program. I def can't apply for both right now as I can't reach the spending limit on both cards for the SUB (right now it's $4k each in three months). I may struggle to hit it on just one but I've got trips planned that I haven't booked yet so it'll help. 

So my decision is -

1) go for the TYP via upgrade and forgo the SUB

1b) if I do that do I apply for the CSP also which could net me both cards but only have to worry about the spending requirement on one

2) just apply for the CSP and let the TYP go 

3) apply for the TYP and perhaps try for the CSP later on

There's a chance I could get turned down for both and it's a moot point but I don't want to put the HPs on without a firm roadmap. 

I'm currently at 2/24 (might be 3/24 if they include the Macy's "upgrade" I did in February from a regular card to a Macy's AmEx so now I have both)

EQ - 756

TU - 731

EX - 741

Income $82,250

AAoA - 9 years

Util 45% (likely because I've only had two major credit cards for years up until April this year when I got a Discover It and Delta Gold. The rest are store cards with high SL.)

Only one baddie - one late payment from 4 years ago that unfortunately was caused by a system glitch when I thought I'd paid off a bill and the payment didn't go through. Bills are always paid on time. In fact EQ doesn't even show that baddie.

Thoughts on what you'd do and chances of getting either card? Got declined for a Cap1 Venture Rewards (don't even get me started on them) earlier this year before I was approved for the DI and Delta. All reports show 2 inquiries - the Cap1 on all 3 and either the Discover, the Macy's or the Delta. 

[jellyroll2]

*bump* Anyone?

[Anonymous]

I would go with option 3. The Citi Premier has a sign up bonus which I believe is at an all time high. Worth over $700 when redeemed for travel via their portal. Also there have been rumors going around for years now about the Thank You cards getting cut, specifically the Premier and Prestige. I'd get these cards sooner rather than later if you're interested in them. The Sapphire Preffered from Chase is a great card. However, the sign up bonus has been steady for years and the card isn't going anywhere. You could always get that card at some point in the future. 

[Anonymous]

I would get CSP first and then get some Chase business cards.  INK and Southwest.  You are under 5/24 so I would hit Chase up hard and then once you are 5/24 go and get the CITI TY Premier. 

[Anonymous]

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@Anonymous wrote:

I would get CSP first and then get some Chase business cards.  INK and Southwest.  You are under 5/24 so I would hit Chase up hard and then once you are 5/24 go and get the CITI TY Premier. 

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The OP made it pretty clear that they are interested in the CSP and TYPremier. They didn't mention business cards at all so I don't see the point in brining them up. In addition, Chase business cards don't cound towards 5/24. You could get a million of these cards and your x/24 number wouldn't go up at all. Plus the OP said meeting minimum spends would be hard, so getting all those cards you mention woldn't work out. So I don't think this advise is sound. 

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I would get CSP first and then get some Chase business cards.  INK and Southwest.  You are under 5/24 so I would hit Chase up hard and then once you are 5/24 go and get the CITI TY Premier. 

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The OP made it pretty clear that they are interested in the CSP and TYPremier. They didn't mention business cards at all so I don't see the point in brining them up. In addition, Chase business cards don't cound towards 5/24. You could get a million of these cards and your x/24 number wouldn't go up at all. Plus the OP said meeting minimum spends would be hard, so getting all those cards you mention woldn't work out. So I don't think this advise is sound. 

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I said get CSP first than get other Chase cards until they are 5/24.  It is sound advice.  They can get additional cards after they finish with the CSP.  Other than the Chase Marriott Business cards all the Chase Business cards are subject to 5/24 so once you become 5/24 you are ineligible.  Even if the OP didn't bring up business cards I am letting them know they are a good option. I wish someone told me this when I started. 

I am not sure why you are criticizing my advice other than it is different than you.  Thank You Premier is a great card but because of Chase rules I would not get it if I were under 5/24.  As you are just going to hurt yourself in the long run and wish you hadn't and find out how it disqualifies you from not only Chase cards but a lot of Barclay Cards.  

[jellyroll2]

Please don't argue. I thank you both for your advice.

I don't know if business cards would work for me as I don't own a business. Don't you need at least a small business to get a business card?

Anyway, I did decide to go for the TYP first due to the larger SUB. Also figured my chances may be better with approval. I was approved but I'm not sure it was worth it as they only approved me for 3K and the APR is insane. This still leaves me under 5/24 but I think if I do for another card in the next few months it'll be something besides the CSP and I'll wait to be under the 5/24 again (which if I only apply for one more card I will be by 2/20). If I don't get good value from the 3X for travel I'll eventually close the Premier and just go back to the Preferred which still offers 2X on dining and entertainment, has a higher SL and much lower APR.

[Anonymous]

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@jellyroll2 wrote:

Please don't argue. I thank you both for your advice.

I don't know if business cards would work for me as I don't own a business. Don't you need at least a small business to get a business card?

Anyway, I did decide to go for the TYP first due to the larger SUB. Also figured my chances may be better with approval. I was approved but I'm not sure it was worth it as they only approved me for 3K and the APR is insane. This still leaves me under 5/24 but I think if I do for another card in the next few months it'll be something besides the CSP and I'll wait to be under the 5/24 again (which if I only apply for one more card I will be by 2/20). If I don't get good value from the 3X for travel I'll eventually close the Premier and just go back to the Preferred which still offers 2X on dining and entertainment, has a higher SL and much lower APR.

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Is this your first Citi card? If you have other Citi cards they tend to give low limits on additional cards. I got 12k on my Citi AA and then 2k limit on my Citi Thank You Premier.  Carrying a balance on a rewards card is a bad idea in general.   It is easy to earn points on Thank Your Premier and earlier this year they had a deal where if you booked hotels and stayed 3 nights the gave you 50 dollars off.  So I booked 3 nights 3 times and used points.  They let you transfer to someone else with the card so my wife transfered hers to mine so I could book all 9 nights.

You can get a business card without a business. If you decide to ever apply for one you can PM me and I will give you the details.  

[Anonymous]

Sole proprietorships count as businesses. So if you do consulting, baby sitting, lawn mowing, tutoring, or any other side gig it can be counted as a business to get a business card. If you want one from Chase, get that next since they don't count towards 5/24. Then you'll still be eligeble for the CSP after that. 

[jellyroll2]

Interesting! I never knew that. Something to think about.

I do already have a Thank You Preferred card with Citi. It's my oldest card actually - been open about 17 years. Started out as a Diamond Preferred then they randomly changed it to a Thank You years ago. It's the one with the almost $23k limit. So that might explain the low limit on the Premier. I actually called them earlier and inquired about the low SL but the new account hadn't posted under my SSN yet so they couldn't check. He recommended waiting to get the card and then perhaps request a CLI. Don't think I'm going to do that as that may result in another HP. The annoying thing is that the SL is $3K and I have to hit $4K to get the SUB.

I'll test it out and garden for a while and either try to stay at 4/25 or go for a Chase business card as you both suggest.