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Credit Card

Your FICO® Scores can impact your loan interest rates, terms, approvals and more.
Valued Member

Credit Card

I am happy that I applied for a citi double cash card and got approved my question is how does it work. And how long does it take to arrive.
My credit score 7/17/2019
EQ: 687 || TU: 708 || Ex: 667
||Capital one: 500 || Credit One: closed || Target: 300
Store Credit Card: 1800 || Citi DC: 700 Discover It: 2000




LAST_HP_DATE
Gardening until: 2023
Message 1 of 14
13 REPLIES 13
Established Contributor

Re: Credit Card


@Obed1 wrote:
I am happy that I applied for a citi double cash card and got approved my question is how does it work. And how long does it take to arrive.

Congrats on your new card!

 

7-10 days to get there, unless you requested expedited delivery via phone. 1% cash back is earned on new purchases at statement cut. 1% cash back is earned for every dollar of payment made.  Minimum of $25 is required to redeem. Can be redeemed as statement credit, mailed check, or direct deposit to account of your choice.

 










Starting Score: 580
Current Score: 673
Goal Score: 750

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Message 2 of 14
Valued Member

Re: Credit Card

Thank you for your help
My credit score 7/17/2019
EQ: 687 || TU: 708 || Ex: 667
||Capital one: 500 || Credit One: closed || Target: 300
Store Credit Card: 1800 || Citi DC: 700 Discover It: 2000




LAST_HP_DATE
Gardening until: 2023
Message 3 of 14
Community Leader
Valued Contributor

Re: Credit Card

Congrats on the DC. I love this card. It will probably be around a week to get it in the mail. 

As for the rewards, you get 1% just for making a purchase, and you’ll get the other 1% once you pay off that purchase. All cashback is awarded at the statement cut, so don’t be looking for it to add up daily.

Enjoy! 

Discover It: 18.7k
Amex BCE: 18k
Citi DC: 4.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 4 of 14
Super Contributor

Re: Credit Card

OP, just a super friendly piece of advice moving forward... definitely do your research before you apply for products.  I fear you were possibly a bit quick to the trigger with your app and that perhaps it wasn't even planned (your sig suggests you were gardening until 2020).  While doing this once isn't going to kill you, repeating [unnecessary] credit-seeking behavior on a so-so profile is only going to prevent it from strengthening.  If you make it a rule that you must do a ton of research on any credit product you're interested in before apping for it, you'll find far less impulse apps.

Message 5 of 14
Valued Member

Re: Credit Card

Thank you for your advise I will restraint myself from applying like crazy for credit once again thank you
My credit score 7/17/2019
EQ: 687 || TU: 708 || Ex: 667
||Capital one: 500 || Credit One: closed || Target: 300
Store Credit Card: 1800 || Citi DC: 700 Discover It: 2000




LAST_HP_DATE
Gardening until: 2023
Message 6 of 14
Valued Contributor

Re: Credit Card


@mikesonthemend wrote:

@Obed1 wrote:
I am happy that I applied for a citi double cash card and got approved my question is how does it work. And how long does it take to arrive.

Congrats on your new card!

 

7-10 days to get there, unless you requested expedited delivery via phone. 1% cash back is earned on new purchases at statement cut. 1% cash back is earned for every dollar of payment made.  Minimum of $25 is required to redeem. Can be redeemed as statement credit, mailed check, or direct deposit to account of your choice.

 


You will probably have to make a few payments from your bank account before you will be able to direct deposit your rewards to it.


FICO 8 Starting Score

Current Scores






Message 7 of 14
Super Contributor

Re: Credit Card


@mikesonthemend wrote:

@Obed1 wrote:
I am happy that I applied for a citi double cash card and got approved my question is how does it work. And how long does it take to arrive.

Congrats on your new card!

 

7-10 days to get there, unless you requested expedited delivery via phone. 1% cash back is earned on new purchases at statement cut. 1% cash back is earned for every dollar of payment made.  Minimum of $25 is required to redeem. Can be redeemed as statement credit, mailed check, or direct deposit to account of your choice.

 


One thing that hasn't been mentioned is that you shouldn't take your cash back as a statement credit, because they don't count the statement credit as a payment, so you lose out on the 1% on the payment end. You're better off having your rewards direct deposited into a checking account and then paying from that.


FICO8 EQ 744 TU 776 EX 748 Total revolving limits 713500 (592500 reporting)
Message 8 of 14
Valued Contributor

Re: Credit Card

One more bit of advice is don't pay off charges early.  Wait until they fully post before paying them.  Any amount paid above your current balance will not earn 1%.

 

That said, I would recommend paying the card down before statement date so that you get cash back on that payment on this statement instead of the next.

Message 9 of 14
New Contributor

Re: Credit Card


@SouthJamaica wrote:

@mikesonthemend wrote:

@Obed1 wrote:
I am happy that I applied for a citi double cash card and got approved my question is how does it work. And how long does it take to arrive.

Congrats on your new card!

 

7-10 days to get there, unless you requested expedited delivery via phone. 1% cash back is earned on new purchases at statement cut. 1% cash back is earned for every dollar of payment made.  Minimum of $25 is required to redeem. Can be redeemed as statement credit, mailed check, or direct deposit to account of your choice.

 


One thing that hasn't been mentioned is that you shouldn't take your cash back as a statement credit, because they don't count the statement credit as a payment, so you lose out on the 1% on the payment end. You're better off having your rewards direct deposited into a checking account and then paying from that.


Huge info on the statment credit good stuff !

Message 10 of 14