Scared to pull the trigger for Citi Double Cash Card

[CreditCharmer]

Honest Feesback needed - Do you think my chances are good for gettting approved for a Citi DC Card
✅ TU 709 EQ 697 and EX 691
✅Current Cards
NFCU More Rewards 30.5k open for 13 months (balance 8k which I’d like to Balance transfer a portion to the Citi DC if I’m approved)
Amex Everyday Rewards 24k open for 9 months (zero balance)
Penfed power Cash 10k open for 6 months. (Balance 762.00)
Amex Cash Magnet 8k open for 3 months. (Balance 605.00)

My fear is that all my credit is new and I’m not sure if they frown upon that.
I want to start a relationship with Citi but I’m hesitant to sacrifice a HP for a big fat denial.

What say you?

[Anonymous]

My honest opinion, it's a redundant 2% general spending card to PenFed 2% PCR, just as is Magnet 1.5%. I would look for others that compliment what you already have (like 5% rotating category cards) so you don't end up with more useless redundant cards in your sock drawer.

[Remedios]

If you are looking for BT card, try Discover
Even if approved, I doubt Citi will start you with a decent SL.

Anything is possible, tho.

[Medic981]

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@Anonymous wrote:
My honest opinion, it's a redundant 2% general spending card to PenFed 2% PCR, just as is Magnet 1.5%. I would look for others that compliment what you already have (like 5% rotating category cards) so you don't end up with more useless redundant cards in your sock drawer.

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I agree with the oldman, however, if you are set on apping for Citi's DC, time-wise I think you are ok. I believe approval will all come down to your debt to income ratio.

[Anonymous]

+1 I agree with Oldman, it looks like you already got some cashback CCs, I would apply for something else and, even if you want to build a relationship with Citi, I'd go for something like an AA card or even the Premier or the Thank You cards.

About you getting actually approved... Well, you won't know for sure until you actually apply!

[CreditCharmer]

A crappy SL is also a concern as well. Great point!

[CreditCharmer]

I love the Premiere card, I thought it was a little out of my league. I’ll do some additional research. Thank you

[Anonymous]

Are you a member of Costco?  Maybe go for that card instead if you want to get started with Citi.  

[CreditCharmer]

I am a member but I can’t say that I shop there enough to obtain a card

[Anonymous]

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@CreditCharmer wrote:
I am a member but I can’t say that I shop there enough to obtain a card

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Interestingly it's only an average card for Costco spend (2%).  Other cards match this or even surpass it.

But it's a solid card for gas purchases and okay for restaurants.  It's the ultimate card for getting gas at Costco.  Just an option.  Maybe look at a category that you spend a decent amount and need a better rewards card for.  Some people eat out a lot, in which case the Uber card is worth looking at.  Others drive a ton and need a good card for that, etc.

I also like the advice of looking at some 5% category cards like the Discover IT or the Chase Freedom.   Discover IT is a nice card for the first year with the double bonus.