I just got denied for a Citi Premier card because I didn't meet the income requirement. I put $10,000 as my income. I put $300 under "rent, monthly payment". In fact, I'm a condo owner and I have no mortgage, my monthly maintenance fee is $300. Should have I put $0 instead under "rent, monthly payment"?
They told me that I can reapply later. Can I reapply later and put $0 under rent? If yes, when can I reapply?
I already have a Citi Costco card. Here are my scores:
I am disappointed because I wanted to buy a new car, so I was looking for a card that would give me a good signup bonus if I spend a minimum of money in a few months (with the Premier, it's $4000 in the first 3 months of opening).
So if I don't reapply later, which other card requires a minimum of money spent in the first months and give a good bonus?
What is your annual income?
10K - 3600/yr - taxes if any = not much to spend or be able to pay
Most cards IIRC have a minimum annual gross of 15K or higher.
I would suggest at least 30 days between apps for your reports to update at a minimum.
The minimum would probably fall under 1/8 which is 1 card per 8 day period
I'm a single father of 2 kids, my annual income (self employed) is $10,000. But I don't have a rent or mortgage to pay, I pay $300 of maintenance fee for my condo.
I will wait 1 month before reapplying, and this time, I will put $0 under "rent/monthly payment".
It worked for my other cards, why not for this one?
I think this time it didn't work because I forgot that I should have put $0 under monthly payment.
It doesn't hurt to try but, Citi minimum income requirements may rule it out. Now that you put the $300 on there they'll still have a record of that info when you apply again. Apps in general are a gamble anyway....
What does your current use look like on the cards you have listed?
Are you PIF or carrying balances?
Looks like you picked up 4 cards in 2018 and the youngest is just shy of a year now.
I have a Citi Costco card. Are requirements different for the Citi Premier?
I am PIF.
Here are the latest statement balances:
Barclays Aadvantage: $210
American Express Delta: $9.95
Chase United: $10
Citi Costco: $8.55
Bank of America Air France: $161.72
Premier and Costco are different in that one is a Legacy product and the other is a co-brand. co-brand cards tend to have lower requirements depending on the deal the lender makes with the brand.
As to carrying a balance each month on ALL of your cards you're shooting yourself in the foot when it comes to points. Ideally you would only have 1 card reporting any balances. Also, you want the reportable balance under 8.9% to make the most points each month.
With this in mind I would bring the balances down to $0 on all but 1 card and then let them cycle through and update on your reports. This will also look better if you have to call Citi for a recon showing even with a 10K income you're keeping things to a minimum and not struggling to pay them each month.
Dropping the ratio of cards being used out of total cards will put you in the best possible light when it comes to apps. You might even hit 800's across the board as well. You have good scores but, that's not the only thing they're looking at on apps.
On the Barclays card, statement balance is on the 24th of the month, and I pay the full balance every 15th of the month. Should I change my payment date? If yes, to when?
actually they are both legacy cards being costco and premier.. Citi has two sides legacy and retail and costco falls under retail. Costco is a co-branded relationship, but still a legacy card when it comes to how they seperate their portfolio. Where-as a card like Best Buy visa or Macy's etc would be on their retail side. Granted costco isn't a core card such as DC, Simplicity, premiere, etc.. but it is a legacy card side of their business
whether 10k income is enough to get past their UW on the premier card is another story though as meant to be a travel card and might have a bit of different UW that costco, but unless we work for citi we don't know their UW difference if any.