Double Cash pre-approval mail offer! HELP!

[Anonymous]

So I got a pre-approval in the mail today from citi bank for their double cash back card.

Im wondering if i should go for it or not? Or how reliable is their pre-approval mail offer?

Ive opened 3 new credit cards this year: Freedom$1200 Disover $800 and Barclays$500

All of them were opened about 3 months ago.

What do you guys think? I know the double cash is a good card and would be good to add to my list.

[CreditCuriosity]

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@Anonymous wrote:

So I got a pre-approval in the mail today from citi bank for their double cash back card.

Im wondering if i should go for it or not? Or how reliable is their pre-approval mail offer?

Ive opened 3 new credit cards this year: Freedom$1200 Disover $800 and Barclays$500

All of them were opened about 3 months ago.

What do you guys think? I know the double cash is a good card and would be good to add to my list.

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Is it a SET APR vs a range?  If it is set, it is pretty solid offer and most likely will be an approval, if range not so good.  Only 3 accounts isn't many so well within Citi acceptable new credit/inquiry parameters

[Anonymous]

Yes its a set APR of 22.99%

[Anonymous]

+1 to PP. If they give you a specific APR, that means it's a true pre-qual.

I say go for it. It's a stellar cash-back card, no annual fee, and a solid bank to be in with. My fiancee just got the mailer recently and was approved instantly. I think Citi is starting to get a bit more aggressive on recruiting for the Double Cash, as she has a pretty thin file. I am an existing Citi customer and I never got a mailer, and I have much better/older credit than her, so maybe it's a tactic to bring in new customers.

[Anonymous]

My fiance was just approved for this card after getting a pre-approval mailer. His had a set APR of 20.9 so I'm agreeing with everyone else that set APR is a great sign.

He was also recently approved for Chase Freedom and Cap One QS but they haven't reported yet so I'm not sure about new accounts.

[coldnmn]

Your chances are good. If you give it a few weeks more offers will come with better Aprs. I would check their prequalify page a couple days a week and go for it when the Apr comes down. Good Luck either way!

[kdm31091]

Their prequals are pretty solid. With that being the APR though, its high, you will likely see a crappy limit. I had to take a 2nd HP to get my limit to a useful level and my APR is 17.99

[CreditCuriosity]

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@kdm31091 wrote:
Their prequals are pretty solid. With that being the APR though, its high, you will likely see a crappy limit. I had to take a 2nd HP to get my limit to a useful level and my APR is 17.99

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Ah didnt notice you took a 2 HP for a CLI, grats...  Stupid policy they have with the DC for whatever reason w/regards to useable limits.. Make 0 sense especially if it is suppose to be an everyday card.

[CreditCuriosity]

@OP

You would most likely get approved now, if you don't plan on carrying a balance you can take this offer, if you ever are going to carry a balance you might want to wait for a better offer.  Really your call.. I woud take it as I want in with Citi and that card as apr means nothing to me as I don't carry balances, but it is still kinda of a principle type of thing for most.. That is their highest APR% btw.

[kdm31091]

Yeah I dont get why they make almost everyone go thorugh 2 HPs to get a useable limit.

OP id wait. I know the APR doesnt matter when you PIF but like the above says its just principle. Im not even thrilled with 17.99 but its way better than 22.99 psychologically.