What should I do with Citibank?

[axxy]

I've never liked Citibank because their website seems so incompetent and because they diluted their Thank You points in the past.  But I have 4 Citi credit cards.  3 of them are old and I only use them enough to keep them active, which means something like a single $2 charge each, once every several months.  The newest one is a Double Cash card I got recently, which I plan to use a lot, because it will give the highest rewards from places that don't otherwise get any special rewards.  My credit scores are north of 800, so I expected it to be easy to get the Double Cash card, but it was a tedious hassle, and they only gave me a $500 limit, with an option to transfer part of my limit from another Citi card to get more.  Now I'm thinking I should try to get all 4 cards merged into one, so I would only have a Double Cash card, with hopefully the combined limit of all 4, which is around $15,000.  Meanwhile I have higher limits than that on other cards unrelated to Citibank.

So my questions are basically whether it's a good idea to merge all 4 Citi cards into the Double Cash, and whether it would be easy to do so, and whether they would do any hard pulls or anything for that.

Also how likely is it the Double Cash is temporary, and in a few months they're going to change it from 1%+1% to something like 0.6%+0.6%?

I had an Orchard Bank 2% card, but it got acquired by Capital One, and changed from 2% to 1.5%.  That's why I wanted the Double Cash.  To replace that.

[Anonymous]

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@axxy wrote:

I've never liked Citibank because their website seems so incompetent and because they diluted their Thank You points in the past.  But I have 4 Citi credit cards.  3 of them are old and I only use them enough to keep them active, which means something like a single $2 charge each, once every several months.  The newest one is a Double Cash card I got recently, which I plan to use a lot, because it will give the highest rewards from places that don't otherwise get any special rewards.  My credit scores are north of 800, so I expected it to be easy to get the Double Cash card, but it was a tedious hassle, and they only gave me a $500 limit, with an option to transfer part of my limit from another Citi card to get more.  Now I'm thinking I should try to get all 4 cards merged into one, so I would only have a Double Cash card, with hopefully the combined limit of all 4, which is around $15,000.  Meanwhile I have higher limits than that on other cards unrelated to Citibank.

So my questions are basically whether it's a good idea to merge all 4 Citi cards into the Double Cash, and whether it would be easy to do so, and whether they would do any hard pulls or anything for that.

Also how likely is it the Double Cash is temporary, and in a few months they're going to change it from 1%+1% to something like 0.6%+0.6%?

I had an Orchard Bank 2% card, but it got acquired by Capital One, and changed from 2% to 1.5%.  That's why I wanted the Double Cash.  To replace that.

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I really doubt the Doublecash will be nerfed like so, and IF it were, they will not go below 1%/.5%

[smc733]

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@Anonymous wrote:

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@axxy wrote:

I've never liked Citibank because their website seems so incompetent and because they diluted their Thank You points in the past.  But I have 4 Citi credit cards.  3 of them are old and I only use them enough to keep them active, which means something like a single $2 charge each, once every several months.  The newest one is a Double Cash card I got recently, which I plan to use a lot, because it will give the highest rewards from places that don't otherwise get any special rewards.  My credit scores are north of 800, so I expected it to be easy to get the Double Cash card, but it was a tedious hassle, and they only gave me a $500 limit, with an option to transfer part of my limit from another Citi card to get more.  Now I'm thinking I should try to get all 4 cards merged into one, so I would only have a Double Cash card, with hopefully the combined limit of all 4, which is around $15,000.  Meanwhile I have higher limits than that on other cards unrelated to Citibank.

So my questions are basically whether it's a good idea to merge all 4 Citi cards into the Double Cash, and whether it would be easy to do so, and whether they would do any hard pulls or anything for that.

Also how likely is it the Double Cash is temporary, and in a few months they're going to change it from 1%+1% to something like 0.6%+0.6%?

I had an Orchard Bank 2% card, but it got acquired by Capital One, and changed from 2% to 1.5%.  That's why I wanted the Double Cash.  To replace that.

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I really doubt the Doublecash will be nerfed like so, and IF it were, they will not go below 1%/.5%

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IDK, Citi has a history of nerfing rewards programs...  I can see this 1%, then a "bonus" .5% for paying coming in the not so distant future.  I hope for everyone who got this card's sake, I am wrong though!

I think the idea of merging all into one is good, maybe not the best for FICO purposes, but if you have a strong profile (scores in the 800s like you say), you should be fine for whatever small hit you may take (the old lines will remain on your report).

It's best not to juggle too many cards you won't use.

[yfan]

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@axxy wrote:

So my questions are basically whether it's a good idea to merge all 4 Citi cards into the Double Cash, and whether it would be easy to do so, and whether they would do any hard pulls or anything for that.

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If you have no use for the other cards, then merge them. It shouldn't take any hard pulls to do it, but just to be on the safe side, ask them when you do it.

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axxy wrote: 

Also how likely is it the Double Cash is temporary, and in a few months they're going to change it from 1%+1% to something like 0.6%+0.6%? 

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No one can say. Citi launched the Double Cash to replace the Dividend, which couldn't compete in the 5% bonus categories against products like Discover IT and Chase Freedom. Citi is banking (padron the pun) on the idea that most of DC card holders will carry a balance - they openly market the idea that you don't have to pay your balance all at once to earn the second 1%. If this bet didn't hold up, though, I have serious doubts about the future of the Double Cash. Still, take advantage of it while it's here.

[chwebb1]

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@Anonymous wrote:

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@axxy wrote:

I've never liked Citibank because their website seems so incompetent and because they diluted their Thank You points in the past.  But I have 4 Citi credit cards.  3 of them are old and I only use them enough to keep them active, which means something like a single $2 charge each, once every several months.  The newest one is a Double Cash card I got recently, which I plan to use a lot, because it will give the highest rewards from places that don't otherwise get any special rewards.  My credit scores are north of 800, so I expected it to be easy to get the Double Cash card, but it was a tedious hassle, and they only gave me a $500 limit, with an option to transfer part of my limit from another Citi card to get more.  Now I'm thinking I should try to get all 4 cards merged into one, so I would only have a Double Cash card, with hopefully the combined limit of all 4, which is around $15,000.  Meanwhile I have higher limits than that on other cards unrelated to Citibank.

So my questions are basically whether it's a good idea to merge all 4 Citi cards into the Double Cash, and whether it would be easy to do so, and whether they would do any hard pulls or anything for that.

Also how likely is it the Double Cash is temporary, and in a few months they're going to change it from 1%+1% to something like 0.6%+0.6%?

I had an Orchard Bank 2% card, but it got acquired by Capital One, and changed from 2% to 1.5%.  That's why I wanted the Double Cash.  To replace that.

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I really doubt the Doublecash will be nerfed like so, and IF it were, they will not go below 1%/.5%

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I have a feeling if it was nerfed like that, they'd lose a lot of customers. I'd definitely cancel if that were the case.

[Anonymous]

Did many product changes with Citi trying to follow their best rewards cards (which aren't many today). Finally I took a hit on a CLI for my Citi Double Cash and was denied so I got Citi EO to reallocate my credit limits/lines so each card has at least $5k and they did it using the already taken HP. Today I have three cards and it is hard to use them since there are so many better rewards cards in my portfolio. But SD and use once in a while to keep active hoping for something better.

[kdm31091]

I agree their website is clunky. Double Cash is a nice card but I don't care for the fact that you have to wait until the statement for the rewards to post, although in all fairness that isn't unique to Citi. My Amex BCE takes an entire extra month before the rewards post which is pretty ridiculous IMO.

I believe I have heard that for Citi to combine your limits they want to do a HP. I don't know that I'd waste a HP on it but I guess it depends on how much limit you're talking about.

As for nerfing, I wouldn't put it past Citi. They have a long history of nerfing. They nerfed the Forward, the Dividend, they nerfed the value of Thank You points, the list goes on and on. I think the Diamond Preferred even at one point offered rewards, so obviously that was nerfed. The Double Cash I don't think is immune to it. They are advertising it hardcore to get people in, but I think eventually it will end up being 0.75+0.75% or something. Unless they discover that enough people are carrying balances, but the whole advantage of the card is kind of ruined if you're carrying a balance.

I would be surprised if it lasts more than a couple years unaltered, but we will see!

[Anonymous]

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@ArmyVietVet wrote:

Did many product changes with Citi trying to follow their best rewards cards (which aren't many today). Finally I took a hit on a CLI for my Citi Double Cash and was denied so I got Citi EO to reallocate my credit limits/lines so each card has at least $5k and they did it using the already taken HP. Today I have three cards and it is hard to use them since there are so many better rewards cards in my portfolio. But SD and use once in a while to keep active hoping for something better.

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What are some of the cards that you have and which ones are you using as daily drivers lately?