Citi Double Cash Approved! Bad CL and APR With 764EX!

[SunriseEarth]

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@Credit_hawk wrote:

Hey guys,

I don't want to sound like a brat but I'm a bit disappointed with my new Citi limit and APR. This is my first Citi card and I have what I consider very good credit and my last card approval was $10k. I have been wanting the Double Cash like many and was pre-approved for 23.99% APR. I thought that maybe that information from that preapproval was when they soft pulled months ago and it would be a much lower APR when I applied. This was flawed thinking. With the scores you see below- they pulled my EX which is a 764 (at least I didn't lose points on the inq) they only gave me a $3,700 credit line with 23% APR. I'm quite disappointed with that. Maybe I shouldn't have applied through my preapproval site and just applied "cold"? Would that have made a difference? Currently I make near $70k a year and have low housing expenses and no derogatories or anything. Flawless credit. On paper I'm a great applicant. So, what gives? Is Citi or the DC card known for this? I am making myself feel better knowing that I never carry a balance but it still bums me out a bit.

Any wisdom or experience appreciated! Thanks!!

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I was initially approved with a $1200 CL and that same horrible APR.   I took another HP to get to $5K and it took a good 8-9 to get another SP to $6400.   That card is now sitting in my SD. 

[taxi818]

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@Credit_hawk wrote:

Hey guys,

I don't want to sound like a brat but I'm a bit disappointed with my new Citi limit and APR. This is my first Citi card and I have what I consider very good credit and my last card approval was $10k. I have been wanting the Double Cash like many and was pre-approved for 23.99% APR. I thought that maybe that information from that preapproval was when they soft pulled months ago and it would be a much lower APR when I applied. This was flawed thinking. With the scores you see below- they pulled my EX which is a 764 (at least I didn't lose points on the inq) they only gave me a $3,700 credit line with 23% APR. I'm quite disappointed with that. Maybe I shouldn't have applied through my preapproval site and just applied "cold"? Would that have made a difference? Currently I make near $70k a year and have low housing expenses and no derogatories or anything. Flawless credit. On paper I'm a great applicant. So, what gives? Is Citi or the DC card known for this? I am making myself feel better knowing that I never carry a balance but it still bums me out a bit.

Any wisdom or experience appreciated! Thanks!!

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Sorry to hear op. But known around these parts that citi will try you first with high Apr and low limit. The key is to hold out until the rates change. I only waited a week and the apr went from 22.9% down to like 15.9%. I did not extra nor did my report change. When i saw that i jumped on the Double Cash. Too bad they hit me with the low limit 2k. but its ok. no interest for 15 months was sweet. I just barely use it as a punishment to citi.

[Credit_hawk]

Taxi, you guys make a great point. I never received any mailers but would check their online site every few weeks for months and never hit on anything. Finally they offered me locked in higher APR's for about 5 cards- AA Advantage, Prestige, Hilton Honors, Double Cash, Citi Thank You and maybe one other. All had high APR's- lowest was 19% and I waited a few weeks which felt like a few months and finally I thought- hmm, there's no way when they hard pull they'll give me an APR that high (thinking I was a big shot lol) and bam. I knew it most likely was going to happen but I feared Citi pulling their pre-approvals all together more than the high APR. Then after writing this I found out the also pulled my EQ which is a 790!!!! LOL. Come on! Haha. It just proves that these aren't humans but still quirky systems after all.

Admittedly, like any astute myfico'r I did do my research on the boards beforehand and knew that the DC had a tendency to be low on starting limits but again being a bit cocky I thought I would at least get $7k. A humbling experience indeed.

[Anonymous]

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@Credit_hawk wrote:

Hey guys,

I don't want to sound like a brat but I'm a bit disappointed with my new Citi limit and APR. This is my first Citi card and I have what I consider very good credit and my last card approval was $10k. I have been wanting the Double Cash like many and was pre-approved for 23.99% APR. I thought that maybe that information from that preapproval was when they soft pulled months ago and it would be a much lower APR when I applied. This was flawed thinking. With the scores you see below- they pulled my EX which is a 764 (at least I didn't lose points on the inq) they only gave me a $3,700 credit line with 23% APR. I'm quite disappointed with that. Maybe I shouldn't have applied through my preapproval site and just applied "cold"? Would that have made a difference? Currently I make near $70k a year and have low housing expenses and no derogatories or anything. Flawless credit. On paper I'm a great applicant. So, what gives? Is Citi or the DC card known for this? I am making myself feel better knowing that I never carry a balance but it still bums me out a bit.

Any wisdom or experience appreciated! Thanks!!

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Mine started pretty low as well. Citi has given me two CLIs over the last 15 months. It'll grow, if you use it.

[Anonymous]

I was approved for first Citi (simplicity) with flawless pay history 9 prime cards AAOA 1.2 years $85000 annual income 730's across the board $3800SL. Took the HP pull at activation to $6000CL . I only regret not asking for more with the HP. FYI I do see the SP CLI option on my acct page but i know that i have to wait 6 months with Citi for SP CLI.

[Anonymous]

Citi in most cases start your limit very low ( it is diffult to find out why) , but once they like you and fit their internal profile, they will reward you with a very nice CLI.

Citi is a combination of several factors not only score counts, but income and how your profile looks like. Their UW is different and sometimes very " unique".. I guess I was lucky  when they approve me for the first time a nice SL...