Why? (Who would want this goofy card?)
I was considering a balance transfer card. Not looking real hard, but the thought had bounced around my noggin a couple times.
I'd like to get another Citi card to eventually PC to a 2nd Custom Cash.
I got a notice on the website that I was "pre-selected" (which I've read that doesn't mean much) for the Diamond Preferred. I figured I could use that for a BT, and since it's basically useless after that, PC to Custom Cash. . . . But . . .
The Rewards+ is a card I've looked at from time to time, wondering if it had a place in my collection.
Diamond Preferred and Simplicity both offer 21 months 0% APR for BT. Rewards+ had same for 15 months. Inconsequential.
Diamond Preferred and Simplicity both offer 12 months 0% APR for purchases. Rewards + is 15. Slightly more consequential.
Diamond Preferred has a 5% transfer fee. Simplicity and Rewards+ are 3% for the first 4 months then 5% after that. This is a big deal to me.
Diamond Preferred and Simplicity have no SUB. Rewards+ has $200 SUB after $1500 spend. Cool.
Diamond Preferred and Simplicity have no rewards. Rewards+ has some oddball rewards.
The round-up is interesting. Not sure how useful. This is a card that rounds up to the nearest 10 points. So if you buy something that's less than $2, you're getting 5 or more points per dollar. Really, this may earn me a few cents per month. Meh, ok.
The cool part is the Rewards+ acts as a points multiplier. Up to the first 100,000 points redeemed per year, it gives you 10% back in more TY points. So I guess if you redeem 90,000 points, you get 9,000 back. When you redeem that, you get 900 back. Redeem that and get 90 back. Redeem that and get 9 back. So that 90,000 becomes 99,999. So my 5% Custom Cash becomes a 5.5555% back card. A 2% Double Cash would be 2.2222%. We could be on to something here!
So this might be a keeper. And if not, I can still PC to Custom Cash 
How?
I checked the pre-qual site and it didn't have anything for me . . . because I had my reports frozen 
Thawed 'em out and it says I'm "pre-qualified" (sounds more serious than "pre-selected" ) for these three cards as well as the Strata Premier and maybe a couple of other things.
On Wednesday the 13th, I'll be 0/6 on inquiries. I had a bunch on May 11 and May 13 while trying to finance a car.
I still owe like 88% on that loan, so that could be an issue. 
My Amex BCP shows 72% utilization. (Still 0% interest, so letting that float while I get some other things paid down.) That's from before I got a 3x CLI. Statement should cut on the 13th or 14th and it'll be 26%. I want to wait until that reports, at least on Equifax, which is what Citi pulled when I got my Custom Cash.
Target date this weekend.
Saturday the 16th happens to be the date Citi says I'm eligible to request another CLI on the CC. Not sure that means anything for a new card app, but I will have crossed a threshold with them anyway.
They've been reasonably nice to me about CLIs. SL was $6.9k in July 2022, then 10.9k, 13.9k, now 15.9k.
Definitely apping for new card before requesting increase on existing card.
Thoughts?
EQ8 783, TU8 751, EX8 765 as of June 22
@Saleen099 wrote:I could see the loan possibly causing you some issues, and the American Express card being utilized at high utilization may become an issue, but I could be wrong.
I want to add this that the inquiries may be an issue because I know Citibank doesn't want to see an in-inquiry in the last 12 months that's been my experience with them.
The Amex will report 26% before I apply.
Yeah, the loan worries me a bit. I owe about $43k on a $49k loan. It's just too new to have been paid down much. Not like I'm behind. I even made a couple extra payments. It'll just take a while to get it whittled down.
I just went and looked at the thread from when I was approved for the Custom Cash.
I was 0/6, 3/12 on both inquiries and new accounts. That's what I am now (or will be Wednesday). And two of my three inquiries may combine into one since they were both on the same day looking for an auto loan, but they still show as 2 separate inquires on the myFICO 3B pull.
If I look at the Citi credit cards, it says the Rewards+ has 0% APR for 15 months and after that it'll be 18.24% - 28.24%.
I looked at the pre-qual page again and tells me "0% Intro APR for 15 months on purchases and balance transfers; after that, the variable APR will be 22.24%."
I've read here that most pre-qual/pre-approvals that give a solid interest rate, not just a range of rates, is a pretty good indication of getting approved.
It could still give me a toy limit. I'm looking at it for BT and would need at least several thousand dollars for that to do me any good. I don't have to have a BT card. I can pay off credit card debt in 6-8 months, but a good BT card would save me some interest.
I've heard (on YooToob, where those guys get some innacurate info, yes) there are multiple levels of pre-authorization:
- Pre-selected
- Pre-qualified <- I am here for Double Cash, Rewards+, Diamond Preferred, and Simplicity
- Pre-approved
- Your credit card offer is ready
I'm still waiting for the Amex BCP statement to cut and report showing my CLI, which will lower utilization on that card from 72% to 26%.
I love my R+. 
Not that I'd let CreditKarma influence my decisions (much), but this is the very top card in their list of recommendations for me.
I saw early this morning on the Experian site that my Amex BCP has reported with my new CL and thus lower utilization percentage. (And Ex8 increased 6 points.) I'm hoping for some indication that Equifax has it. Citi pulled Eq when I got my Custom Cash.
@Thomas_Thumb wrote:Looking good. The increase in AMEX CL may help boost SL for the new card.
That's what I'm hoping.
Getting that ugly 72% utilization down to a more reasonable 26% certainly won't hurt, and might help.