Hello y'all!
I wanted to ask from our experienced community about Citi and their Citi premier card: should I even risk the hard pull?
I'm sure you are aware that the Citi premier is offering a $800 signup bonus on $4000 spend. I am definitely not a churner, but I can meet the spend requirements due to an upcoming (late) vacation with my normal spend with my spouse.
From the DPs that I read from MyFico and Reddit in the past 2 year, the Citi Premier is a bit tricky to obtain, even for those with above 800 Fico 8 scores.
Overall, I have the impression that they prefer the following profile on the application (with no particular order of importance):
- 0-1/6 in inquiries and accounts opened
- Higher income (the lowest income approval I found was $30000)
- Higher overall utilization on accounts (it seems 0% with above 800 Fico 8 get denied), with a large spread in utilization ranging from 3% to 15% at application. One particular comment on Reddit was that he reapplied but distributed his utilization across accounts such that no card would be 0% and his overall utilization was at 3% and he was then approved.
That being said, my current profile when I plan to apply would be something like:
- 0/6, 2/12
- Bring my 0% overall utilization to 10%
- Reportable income ~$60000
Additionally, I am still currently 1/6, and I tried the Citi pre-qualified link with the above information. I was only prequalified for the Citi Custom Cash and Double Cash at a fixed low APR at 16%.
I would love to hear your intuitions and advice on this! I think Chase would be happy to let me signup for another card (e.g. their partnership cards), but I'd rather not churn a signup bonus for a card I can't even downgrade.
Good morning🌅
The sign-up bonus is nice. Is that your main reason for applying? I see you already have the CSP which has some domestic airline transfer partners and superior travel protections. I realize you didn't ask for opinions on that so I apologize if my curiosity is intrusive.
I have never prequalified for anything on the Citi website yet I have been instantly approved for the Premier (which I no longer have) and the Double Cash and Custom Cash. I can't imagine you would be denied for that reason.
Whatever you decide, I hope you have a fantastic vacation.
@mrpuffrabbit wrote:Hello y'all!
I wanted to ask from our experienced community about Citi and their Citi premier card: should I even risk the hard pull?
I'm sure you are aware that the Citi premier is offering a $800 signup bonus on $4000 spend. I am definitely not a churner, but I can meet the spend requirements due to an upcoming (late) vacation with my normal spend with my spouse.
From the DPs that I read from MyFico and Reddit in the past 2 year, the Citi Premier is a bit tricky to obtain, even for those with above 800 Fico 8 scores.
Overall, I have the impression that they prefer the following profile on application (with no particular order of importance):
- 0-1/6 in inquires and accounts opened
- Higher income (the lowest income approval I found was $30000)
- Higher overall utilization on accounts (it seems 0% with above 800 Fico 8 get denied), with a large spread in utilization ranging from 3% to 15% at application. One particular comment on Reddit was that he reapplied but distributed his utilization across accounts such that no card would be 0% and his overall utilization was at 3% and we was then approved.
That being said, my current profile when I plan to apply would be something like:
- 0/6, 2/12
- Bring my 0% overall utilization to 10%
- Reportable income ~$60000
Additionally, I am still currently 1/6, and I tried the Citi pre-qualified link with the above information. I was only prequalified for the Citi Custom Cash and Double Cash at a fixed low APR at 16%.
I would love to hear your intutions and advice on this! I think Chase would be happy to let me signup for another card (e.g. their partnership cards), but I'd rather not churn a signup bonus for a card I can't even downgrade.
I think your chances are good. It's an excellent card so I'd go for it.
@wingennis wrote:Good morning🌅
The sign-up bonus is nice. Is that your main reason for applying? I see you already have the CSP which has some domestic airline transfer partners and superior travel protections. I realize you didn't ask for opinions on that so I apologize if my curiosity is intrusive.
I have never prequalified for anything on the Citi website yet I have been instantly approved for the Premier (which I no longer have) and the Double Cash and Custom Cash. I can't imagine you would be denied for that reason.
Whatever you decide, I hope you have a fantastic vacation.
It's because I don't get travel protections, the current sign up bonus, coupled with the fact that I can downgrade to the custom cash.
Currently, I am working and residing in Europe with travel between here and the States due to work. No intention to stay in the EU after this!
So many business travel expenses I can use a credit card, and get some Cashback and still be reimbursed.
But the travel protections from the CSP actually don't benefit me, since AFAIK they require to start in the States and come back.
Other than that, the CSP is amazing and an obviously great value card. I think I might downgrade it to the freedom and reapply in the future, but haven't thought that through!
@mrpuffrabbit wrote:
@wingennis wrote:Good morning🌅
The sign-up bonus is nice. Is that your main reason for applying? I see you already have the CSP which has some domestic airline transfer partners and superior travel protections. I realize you didn't ask for opinions on that so I apologize if my curiosity is intrusive.
I have never prequalified for anything on the Citi website yet I have been instantly approved for the Premier (which I no longer have) and the Double Cash and Custom Cash. I can't imagine you would be denied for that reason.
Whatever you decide, I hope you have a fantastic vacation.
It's because I don't get travel protections, the current sign up bonus, coupled with the fact that I can downgrade to the custom cash.
Currently I am working and residing in Europe with travel between here and the States due to work. No intention to stay in the EU after this!
So many business travel expenses I can use a credit card, and get some Cashback and still be reimbursed.
But the travel protections from the CSP actually don't benefit me, since AFAIK they require to start in the States and come back.
Other than that, the CSP is amazing and an obviously great value card. I think I might downgrade it to the freedom and reapply in the future, but haven't thought that through!
I've never thought about travel protections being related to the origin of the travel so I appreciate the clarification. I still have a lot to learn!
I guess, a cleansheet in the past 6 months with reasonable income and DBI ratio and excellent Fico8 are the main parameters. For travel cards like Premier, the citizenship might matter as they ask for it (they do not have any option for permanent residency). Overall, your chance can be good. I am not sure, in case of denial, it would be feasible to use that HP to reconsider for another card like Custom Cash. Not sure about the utilization ratio while several got denied over low or high utilization ratio, even with Fico8>800, and I guess, each can be a reason for a denial.
The Premier and Costco cards look excellent while they are the most difficult ones to get approved. Costco is a dead-end and it cannot get PCed to another card.
Fico8: EX~EQ~TU~840 (12 month goal~850).
@Hoben02 wrote:But the travel protections from the CSP actually don't benefit me, since AFAIK they require to start in the States and come back.
where did you see/read this becuz I decided to google this and could not locate this restriction. At least for rental car coverage the card covers worldwide and all I can find on travel insurance is you are covered as long as a portion is purchased with the card
I was thinking about trip cancelation insurance.
But I am actually wrong about this: I just checked the "Guide to Benefits" pdf.
- They don't specifiy restrictions for along the lines of "your trip must begin and end in the United States".
- Nor "the trip must be a round-trip (not possible for one way trips)"
I think I am getting mixed up with the insurance benefits I've read from the Amex platnum card....
@wingennis wrote:
@mrpuffrabbit wrote:
@wingennis wrote:Good morning🌅
The sign-up bonus is nice. Is that your main reason for applying? I see you already have the CSP which has some domestic airline transfer partners and superior travel protections. I realize you didn't ask for opinions on that so I apologize if my curiosity is intrusive.
I have never prequalified for anything on the Citi website yet I have been instantly approved for the Premier (which I no longer have) and the Double Cash and Custom Cash. I can't imagine you would be denied for that reason.
Whatever you decide, I hope you have a fantastic vacation.
It's because I don't get travel protections, the current sign up bonus, coupled with the fact that I can downgrade to the custom cash.
Currently I am working and residing in Europe with travel between here and the States due to work. No intention to stay in the EU after this!
So many business travel expenses I can use a credit card, and get some Cashback and still be reimbursed.
But the travel protections from the CSP actually don't benefit me, since AFAIK they require to start in the States and come back.
Other than that, the CSP is amazing and an obviously great value card. I think I might downgrade it to the freedom and reapply in the future, but haven't thought that through!
I've never thought about travel protections being related to the origin of the travel so I appreciate the clarification. I still have a lot to learn!
I take this back, see my previous post! I think I mixed this up with a different card (I suspect American express).
@wingennis wrote:
@mrpuffrabbit wrote:
@wingennis wrote:Good morning🌅
The sign-up bonus is nice. Is that your main reason for applying? I see you already have the CSP which has some domestic airline transfer partners and superior travel protections. I realize you didn't ask for opinions on that so I apologize if my curiosity is intrusive.
I have never prequalified for anything on the Citi website yet I have been instantly approved for the Premier (which I no longer have) and the Double Cash and Custom Cash. I can't imagine you would be denied for that reason.
Whatever you decide, I hope you have a fantastic vacation.
It's because I don't get travel protections, the current sign up bonus, coupled with the fact that I can downgrade to the custom cash.
Currently I am working and residing in Europe with travel between here and the States due to work. No intention to stay in the EU after this!
So many business travel expenses I can use a credit card, and get some Cashback and still be reimbursed.
But the travel protections from the CSP actually don't benefit me, since AFAIK they require to start in the States and come back.
Other than that, the CSP is amazing and an obviously great value card. I think I might downgrade it to the freedom and reapply in the future, but haven't thought that through!
I've never thought about travel protections being related to the origin of the travel so I appreciate the clarification. I still have a lot to learn!
Turns out I am wrong about this, see my previous post..