Question about Citi Double Cash Card

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INTRESIS
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Question about Citi Double Cash Card

Post by INTRESIS »

Is it true that if you pay off your entire balance right away every month, you won't get the full 2% cash back?
DSInvestor
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Re: Question about Citi Double Cash Card

Post by DSInvestor »

https://www.citi.com/credit-cards/credi ... ds&afc=152
citi wrote:Earn Cash Back TWICE
with 1% on purchases and 1% as you pay for those purchases in full or over time.
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SmileyFace
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Re: Question about Citi Double Cash Card

Post by SmileyFace »

Not true you get 2% - second 1% comes after you pay your bill
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INTRESIS
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Re: Question about Citi Double Cash Card

Post by INTRESIS »

My understanding is that purchases must be in the "Purchase Tracker" first, which doesn't happen until days after the purchases is made. Thus if you pay off your bill right away, before the purchases are listed in the "purchase tracker", would you not get the 1% cash back for the payment?
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SmileyFace
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Re: Question about Citi Double Cash Card

Post by SmileyFace »

No. Paying the bill doesn't make the purchases disappear.
INTRESIS wrote:My understanding is that purchases must be in the "Purchase Tracker" first, which doesn't happen until days after the purchases is made. Thus if you pay off your bill right away, before the purchases are listed in the "purchase tracker", would you not get the 1% cash back for the payment?
DSInvestor
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Re: Question about Citi Double Cash Card

Post by DSInvestor »

INTRESIS wrote:My understanding is that purchases must be in the "Purchase Tracker" first, which doesn't happen until days after the purchases is made. Thus if you pay off your bill right away, before the purchases are listed in the "purchase tracker", would you not get the 1% cash back for the payment?
I think the purchase tracker is to differentiate a purchase amount from other amounts like interest charges, foreign transaction fees etc. I believe you only get cash back on the purchase amount and payment of the payment amount. If you accrue interest you do not get additional cash back for paying the interest.

For example, you purchase $1000 but do not pay in full and interest charges accrue such that you now have a balance of $1200. You pay $1200 to pay in full. Your cash rewards would be 1% of the $1000 purchase (added to purchase tracker) and 1% of $1000 payment (removed from the purchase tracker). A total cash reward of $20. No cash reward for the extra $200 paid for interest and other fees.
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reddityeah
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Re: Question about Citi Double Cash Card

Post by reddityeah »

I was approved for this card yesterday. I'm not able to log in to the citi site. Can I not log in to my account until my card comes in the mail?
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KlingKlang
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Re: Question about Citi Double Cash Card

Post by KlingKlang »

http://www.mymoneyblog.com/citi-double- ... eview.html

Basically if you redeem your reward for an account credit the effective cash back rate goes down to 1.99% because you don't get the second 1% back on the account credit.
akd00d
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Re: Question about Citi Double Cash Card

Post by akd00d »

reddityeah wrote:I was approved for this card yesterday. I'm not able to log in to the citi site. Can I not log in to my account until my card comes in the mail?
That was my experience. It was not immediate.

What kind of credit limit have people gotten for new applications? They only gave me $8k (which I thought was low) and they listed my credit score as 814 (which I thought was good). No debt aside from mortgage. I then applied for a higher limit, but was denied and asked to try back after six months.
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Re: Question about Citi Double Cash Card

Post by logicon »

KlingKlang wrote:http://www.mymoneyblog.com/citi-double- ... eview.html

Basically if you redeem your reward for an account credit the effective cash back rate goes down to 1.99% because you don't get the second 1% back on the account credit.
Yep. This is why I use the direct deposit feature to put the money back into my checking account.
takeshi
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Re: Question about Citi Double Cash Card

Post by takeshi »

KlingKlang wrote:http://www.mymoneyblog.com/citi-double- ... eview.html

Basically if you redeem your reward for an account credit the effective cash back rate goes down to 1.99% because you don't get the second 1% back on the account credit.
Yup. Note that Citi does not promote it as a 2% cash back card because that's not how the program works. It is 1% on purchases and 1% on payments. You can't make a payment on an amount that has been paid via statement credit.
akd00d wrote:What kind of credit limit have people gotten for new applications? They only gave me $8k (which I thought was low) and they listed my credit score as 814 (which I thought was good).
Don't have it myself but posts on multiple credit sites seem to indicate that people think they're generally getting lower limits than expected.
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FrugalInvestor
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Re: Question about Citi Double Cash Card

Post by FrugalInvestor »

akd00d wrote:
reddityeah wrote:I was approved for this card yesterday. I'm not able to log in to the citi site. Can I not log in to my account until my card comes in the mail?
That was my experience. It was not immediate.

What kind of credit limit have people gotten for new applications? They only gave me $8k (which I thought was low) and they listed my credit score as 814 (which I thought was good). No debt aside from mortgage. I then applied for a higher limit, but was denied and asked to try back after six months.
We were also approved with a limit around $8k and our score is similar to yours. After we received our card we called and asked that it be raised substantially because it was replacing our primary card. Our request was immediately honored.
Have a plan, stay the course and simplify, but most importantly....Ignore the Noise!
mntrailrun
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Re: Question about Citi Double Cash Card

Post by mntrailrun »

Also received about half the credit limit that I qualify for with other cards even after an increase in my credit score. Also took 3 months before rewards started posting.
tbradnc
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Re: Question about Citi Double Cash Card

Post by tbradnc »

Also got a $8000 credit limit with an 800+ credit score.
Cigarman
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Re: Question about Citi Double Cash Card

Post by Cigarman »

I converted an existing Citi card to Double Cash with no hassles.

Never had an issue with money being credited...I pay the bill off right away once I receive it so that may be the key.

Loving this card so far, using the cash to fund my Roth.
tbradnc
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Re: Question about Citi Double Cash Card

Post by tbradnc »

I tried to convert my Hilton Honors Visa to the Double Cash and they wouldn't let me because it was a branded card - whatever that means. More annoying than that was not being able to consolidate my 2 Citi cards under a single login. I had to create a new Citi login for the Double Cash card.

Overall I like this card much better than the Fido 2% Amex because the Citi website is so much better and I can quit carrying the CapOne Quicksilver (1.5% cash back) to use in places where Amex isn't accepted.

The Double Cash card allowed me to retire the Fido Amex and CapOne Quicksilver.
555
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Re: Question about Citi Double Cash Card

Post by 555 »

Just got this card (I think). Credit limit only about $6k :annoyed maybe because I opened a couple of other cards very recently.

Anyway, I went through all the web pages, and it seemed approved and final. But I haven't got any kind of confirmation email after a few hours. Does anyone who got this remember a long delay getting a confirmation email, or if there just wasn't such an email?
reddityeah
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Re: Question about Citi Double Cash Card

Post by reddityeah »

555 wrote:Just got this card (I think). Credit limit only about $6k :annoyed maybe because I opened a couple of other cards very recently.

Anyway, I went through all the web pages, and it seemed approved and final. But I haven't got any kind of confirmation email after a few hours. Does anyone who got this remember a long delay getting a confirmation email, or if there just wasn't such an email?
Mine took like 2-3 days for the email to come
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midareff
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Re: Question about Citi Double Cash Card

Post by midareff »

INTRESIS wrote:Is it true that if you pay off your entire balance right away every month, you won't get the full 2% cash back?
Not true from personal experience.
TdF fan
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Re: Question about Citi Double Cash Card

Post by TdF fan »

reddityeah wrote:
555 wrote:Just got this card (I think). Credit limit only about $6k :annoyed maybe because I opened a couple of other cards very recently.

Anyway, I went through all the web pages, and it seemed approved and final. But I haven't got any kind of confirmation email after a few hours. Does anyone who got this remember a long delay getting a confirmation email, or if there just wasn't such an email?
Mine took like 2-3 days for the email to come
I got mine in 2-3 days too. My credit limit was in the range of yours and I haven't opened any new credit recently. Maybe Citi is being conservative with credit limits across the board.
555
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Re: Question about Citi Double Cash Card

Post by 555 »

3Factor wrote:
reddityeah wrote:
555 wrote:Just got this card (I think). Credit limit only about $6k :annoyed maybe because I opened a couple of other cards very recently.

Anyway, I went through all the web pages, and it seemed approved and final. But I haven't got any kind of confirmation email after a few hours. Does anyone who got this remember a long delay getting a confirmation email, or if there just wasn't such an email?
Mine took like 2-3 days for the email to come
I got mine in 2-3 days too. My credit limit was in the range of yours and I haven't opened any new credit recently. Maybe Citi is being conservative with credit limits across the board.
Thanks for the timeline. I like to see the confirmation email to see it really went through, because sometimes the process gets interrupted by a computer glitch and you're not really sure.

The 0% intro interest for 15 months is pretty generous, and if they also had high credit limits, they'd be worried about savvy card users who take advantage of a long large interest free loan.
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Re: Question about Citi Double Cash Card

Post by Kaufmanrider »

INTRESIS wrote:Is it true that if you pay off your entire balance right away every month, you won't get the full 2% cash back?
I pay my card off monthly and get 2%. 1% for my payment of the statement balance and 1% for new charges toward the next statement balance.
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Re: Question about Citi Double Cash Card

Post by 555 »

INTRESIS wrote:Is it true that if you pay off your entire balance right away every month, you won't get the full 2% cash back?
What I have read is that if you pay off a purchase before it appears on the next statement, (i.e. unnecessarily early payoff) you could miss out on that second 1%. Search for "purchase tracker" in this thread https://www.creditkarma.com/reviews/cre ... tiBank1299 and elsewhere. Just let each purchase appear on the next statement, before paying it off, and this problem won't happen (is my understanding --- haven't got the card yet).
555
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Re: Question about Citi Double Cash Card

Post by 555 »

555 wrote:Just got this card (I think). Credit limit only about $6k :annoyed maybe because I opened a couple of other cards very recently.

Anyway, I went through all the web pages, and it seemed approved and final. But I haven't got any kind of confirmation email after a few hours. Does anyone who got this remember a long delay getting a confirmation email, or if there just wasn't such an email?
Any ideas how to get the credit limit quickly increased?
Apart from phoning and requesting, what pattern of spending and paying might induce them to increase it.
tibbitts
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Re: Question about Citi Double Cash Card

Post by tibbitts »

555 wrote:
INTRESIS wrote:Is it true that if you pay off your entire balance right away every month, you won't get the full 2% cash back?
What I have read is that if you pay off a purchase before it appears on the next statement, (i.e. unnecessarily early payoff) you could miss out on that second 1%. Search for "purchase tracker" in this thread https://www.creditkarma.com/reviews/cre ... tiBank1299 and elsewhere. Just let each purchase appear on the next statement, before paying it off, and this problem won't happen (is my understanding --- haven't got the card yet).
There seem to be contradictory opinions on whether there's any harm in paying off before a charge appears on a statement. In the past I've paid the current balance, not the statement balance (so I've overpaid), but haven't gone back and tracked whether the cash back appears on the next statement. Has anyone actually done that?
Louis Winthorpe III
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Re: Question about Citi Double Cash Card

Post by Louis Winthorpe III »

tibbitts wrote: There seem to be contradictory opinions on whether there's any harm in paying off before a charge appears on a statement.
Some people were confused. When you pay won't make any difference to the amount of cash back you get.
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Re: Question about Citi Double Cash Card

Post by steadyeddy »

tbradnc wrote:The Double Cash card allowed me to retire the Fido Amex and CapOne Quicksilver.
+1

I was happy to simplify from two cards to one, but was approved for only about a $6k credit limit that could not be raised online and could only be raised to $7,200 over the phone without a hard pull. I've never in my life has to worry about maxing out a credit card, and I don't like it.
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Re: Question about Citi Double Cash Card

Post by LeeMKE »

I recently reviewed and reorganized our credit card lines. Everyone is issuing cards with much lower limits than I received in previous years.

This is making it hard to reach my goal of replacing some of my cards with high limits which I occasionally want available while traveling (in case of emergency). Looks like I'm going to have to carry extra cards instead.

After 5 months, I am getting credit line increases with a request online, but the increases are modest:
$7000 initial credit limit, spend $5K/mo and pay off each month, granted $2k credit limit increase at month 4.

Nuts.
The mightiest Oak is just a nut who stayed the course.
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Re: Question about Citi Double Cash Card

Post by bayview »

I was startled to receive a $10K limit last week. Go figure.

Clean credit report, FICO's in 760-780 range due to "seeking credit/too many inquiries" (we recently re-fi'd our house, plus picked up a few reward cards.) Only other derog is "too many accounts with balances" (5 reporting balances, all small and paid off each month.) Long credit history; ridiculous number of open credit lines, many with high limits ($25K and higher.) Income barely over $100K for two (interestingly, they didn't ask for my income alone; guess they've calmed down a bit). It's a mystery.
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri
Louis Winthorpe III
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Re: Question about Citi Double Cash Card

Post by Louis Winthorpe III »

Lower than normal credit limits on the Double Cash card makes sense. Citi is operating on very thin margins on this card. Any defaults at all will hurt them, whereas most issuers have a bigger cushion. As a result, I think Citi is trying to protect itself by keeping credit limits low even for borrowers with great credit.
bayview wrote:I was startled to receive a $10K limit last week. Go figure.

Clean credit report, FICO's in 760-780 range due to "seeking credit/too many inquiries" (we recently re-fi'd our house, plus picked up a few reward cards.) Only other derog is "too many accounts with balances" (5 reporting balances, all small and paid off each month.) Long credit history; ridiculous number of open credit lines, many with high limits ($25K and higher.) Income barely over $100K for two (interestingly, they didn't ask for my income alone; guess they've calmed down a bit). It's a mystery.
If you care, and I'm not suggesting you should, you could probably raise your score by paying your balance to zero before the statement closes on all but one of the cards you use frequently. Easy to do online.
555
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Re: Question about Citi Double Cash Card

Post by 555 »

Louis Winthorpe III wrote:Lower than normal credit limits on the Double Cash card makes sense. Citi is operating on very thin margins on this card. Any defaults at all will hurt them, whereas most issuers have a bigger cushion. As a result, I think Citi is trying to protect itself by keeping credit limits low even for borrowers with great credit.
bayview wrote:I was startled to receive a $10K limit last week. Go figure.

Clean credit report, FICO's in 760-780 range due to "seeking credit/too many inquiries" (we recently re-fi'd our house, plus picked up a few reward cards.) Only other derog is "too many accounts with balances" (5 reporting balances, all small and paid off each month.) Long credit history; ridiculous number of open credit lines, many with high limits ($25K and higher.) Income barely over $100K for two (interestingly, they didn't ask for my income alone; guess they've calmed down a bit). It's a mystery.
If you care, and I'm not suggesting you should, you could probably raise your score by paying your balance to zero before the statement closes on all but one of the cards you use frequently. Easy to do online.
You definitely should not pay your balance to zero before the statement closes on this particular card as you'd lose the 2nd 1%, as I understand it. Anyway, with 0% for 15 months this is not the card you'd be paying to zero, whether pre- or post- statement. Paying off non-zero interest cards pre- rather than post- statement, may be worthwhile, though it requires a little more work than the automated monthly post-statement payoff.
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Re: Question about Citi Double Cash Card

Post by bayview »

Louis Winthorpe III wrote:Lower than normal credit limits on the Double Cash card makes sense. Citi is operating on very thin margins on this card. Any defaults at all will hurt them, whereas most issuers have a bigger cushion. As a result, I think Citi is trying to protect itself by keeping credit limits low even for borrowers with great credit.
bayview wrote:I was startled to receive a $10K limit last week. Go figure.

Clean credit report, FICO's in 760-780 range due to "seeking credit/too many inquiries" (we recently re-fi'd our house, plus picked up a few reward cards.) Only other derog is "too many accounts with balances" (5 reporting balances, all small and paid off each month.) Long credit history; ridiculous number of open credit lines, many with high limits ($25K and higher.) Income barely over $100K for two (interestingly, they didn't ask for my income alone; guess they've calmed down a bit). It's a mystery.
If you care, and I'm not suggesting you should, you could probably raise your score by paying your balance to zero before the statement closes on all but one of the cards you use frequently. Easy to do online.
Yes, that's what I've always done in the past, and I plan to resume (withe the Citi card being the exception.) it has always resulted in a noticeable score change, although this doesn't happen for everyone, depending upon individual credit profile.
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri
Louis Winthorpe III
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Re: Question about Citi Double Cash Card

Post by Louis Winthorpe III »

555 wrote: You definitely should not pay your balance to zero before the statement closes on this particular card as you'd lose the 2nd 1%, as I understand it.
Your understanding is not correct. You don't lose the 2nd one percent by paying early. The timing of your payment has no impact on your cash back.
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Re: Question about Citi Double Cash Card

Post by 555 »

Louis Winthorpe III wrote:
555 wrote: You definitely should not pay your balance to zero before the statement closes on this particular card as you'd lose the 2nd 1%, as I understand it.
Your understanding is not correct. You don't lose the 2nd one percent by paying early. The timing of your payment has no impact on your cash back.
Okay, I won't debate the point since it is just my interpretation of their wording. How do you know for sure which interpretation is correct?
WCF
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Re: Question about Citi Double Cash Card

Post by WCF »

I use this card - I get the second 1% and I always pay early.
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Re: Question about Citi Double Cash Card

Post by 555 »

WCF wrote:I use this card - I get the second 1% and I always pay early.
You mean you buy something and pay it off before the next statement?

BTW, what's your motivation for paying so early? You'd still pay no interest if your paid in full after the next statement, and before the payment due date. And while the interest is 0%, you only need make the minimum payment (after the next statement, and before the payment due date), then payoff in full before non-zero interest starts.
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Re: Question about Citi Double Cash Card

Post by WCF »

555 wrote:
WCF wrote:I use this card - I get the second 1% and I always pay early.
You mean you buy something and pay it off before the next statement?

BTW, what's your motivation for paying so early? You'd still pay no interest if your paid in full after the next statement, and before the payment due date. And while the interest is 0%, you only need make the minimum payment (after the next statement, and before the payment due date), then payoff in full before non-zero interest starts.
I don't like carrying a balance, have no reason to wait, and paying it off takes seconds on a phone. I don't spend what I don't have either. I mainly use my credit card as a security layer from my bank account - if a thief gets a hold of my card, the burden of responsibility is not on me like it would be with a debit card, cash, or checks. The rewards are a nice bonus too.
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Re: Question about Citi Double Cash Card

Post by Jerry55 »

I got tired of all the Chase/Citi/Discover/AT&T monthly offers for 5% if I eat at restaurant x or get gas at y.
I can usually get GAS at restaurant X. :thumbsdown

I have a Chase Southwest airline card ($69.00/year) that I used for paying my daughters tuition, Cell phone bill (4 phones) DirecTV and just about all expenses ($3-4,000 per month) over the last 4 years, which paid for about 3-4 of the 6 annual trips between her college in S. California and Chicago.

Now that I have my Double Cash Card, I will be eliminating the Southwest card in Sept. For my daughters graduation present, Today, I purchased a 2013 Ford Fusion and paid $10,000.00 of it using my Citi Double Cash Card ($30,000.00 Credit Card Limit). I tried to pay the entire car using it, but they said 10K was their limit. I've had this card for 3 months now, and it will be used EXTENSIVELY.

I love it !!!
Retired CSRS on 12/19/2012 @ age 57 w/39 years | Good Bye Tension, Hello Pension !!!
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Re: Question about Citi Double Cash Card

Post by 555 »

WCF wrote:
555 wrote:
WCF wrote:I use this card - I get the second 1% and I always pay early.
You mean you buy something and pay it off before the next statement?
BTW, what's your motivation for paying so early? You'd still pay no interest if your paid in full after the next statement, and before the payment due date. And while the interest is 0%, you only need make the minimum payment (after the next statement, and before the payment due date), then payoff in full before non-zero interest starts.
I don't like carrying a balance, have no reason to wait, and paying it off takes seconds on a phone. I don't spend what I don't have either. I mainly use my credit card as a security layer from my bank account - if a thief gets a hold of my card, the burden of responsibility is not on me like it would be with a debit card, cash, or checks. The rewards are a nice bonus too.
Okay, I think you're anecdote settles it. My interpretation of the wording was apparently wrong and this
Louis Winthorpe III wrote:Some people were confused. When you pay won't make any difference to the amount of cash back you get.
appears to be correct.
mksahu2000
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Re: Question about Citi Double Cash Card

Post by mksahu2000 »

I recently replaced my Citi Dividend Card with the Double Cash Card. Though my limit on the Dividend was in the 12K range, the limit they gave me on the Double Cash was more like 8K. It didn't make sense to me to have one Citi card replaced by another with a lower limit (especially given no late payments and no balances ever), but I guess everyone is given a similar start off point these days. Anyway, it only took one phone call to get the limit increased. The customer service rep said Citi can raise the limit by a certain dollar amount simply by your request, but if the amount of the raise is higher than that amount (and I don't know what that amount is), then they need to pull your credit report prior to approval (which can all still happen while you wait on the phone). Long story short, after agreeing to let them pull my report, and giving them some basic info--annual income, monthly house payment amount, etc., they honored my request to increase my limit to 25K. So it's possible, and probably worth the 10 minute call.
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Re: Question about Citi Double Cash Card

Post by chahn1 »

$17k with a 800+ credit score. Maybe it is because my wife has a card too?
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Re: Question about Citi Double Cash Card

Post by bayview »

555 wrote:
WCF wrote:I use this card - I get the second 1% and I always pay early.
You mean you buy something and pay it off before the next statement?

BTW, what's your motivation for paying so early? You'd still pay no interest if your paid in full after the next statement, and before the payment due date. And while the interest is 0%, you only need make the minimum payment (after the next statement, and before the payment due date), then payoff in full before non-zero interest starts.
For optimized FICO scoring (this works for most credit profiles), paying off all but one or two cards before the statement drops (= before they report) results in almost all cards reporting a $0 balance. Do let one report, because oddly there can be a ding (again, not for all credit profiles), if everything reports as $0.

It's not something that needs to be done before you want your FICO's optimized, but sometimes an opportunity pops up unexpectedly, and it can be nice to have fine-tuned one's reports. Probably not an issue here for most forum members, but you never know, especially for younger people without 25-30+ years of credit history.

(I realize that this might not be the issue for WCF; I was amplifying more upon Louis Winthorpe III's earlier reply to me.)
The continuous execution of a sound strategy gives you the benefit of the strategy. That's what it's all about. --Rick Ferri
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Re: Question about Citi Double Cash Card

Post by Jerry55 »

bayview wrote: For optimized FICO scoring (this works for most credit profiles), paying off all but one or two cards before the statement drops (= before they report) results in almost all cards reporting a $0 balance. Do let one report, because oddly there can be a ding (again, not for all credit profiles), if everything reports as $0.

It's not something that needs to be done before you want your FICO's optimized, but sometimes an opportunity pops up unexpectedly, and it can be nice to have fine-tuned one's reports. Probably not an issue here for most forum members, but you never know, especially for younger people without 25-30+ years of credit history.

(I realize that this might not be the issue for WCF; I was amplifying more upon Louis Winthorpe III's earlier reply to me.)
For 10+ years, one of my work-buddies tried this, he paid it off early, and I paid mine off 10-12 days before it's due date.

I can believe it. His FICO Score usually stayed around 825 or so, while mine hovered around 808.
It's not a glaring difference, but one that we both noticed and compared over the decade or more.
It's great working with people (friends) for a 30+ year period. We do silly stuff like that. :D
After 34 years, He's STILL "My Favorite Republican" and I told him he will always retain that title !!! :happy
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555
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Joined: Thu Dec 24, 2009 7:21 am

Re: Question about Citi Double Cash Card

Post by 555 »

bayview wrote:For optimized FICO scoring (this works for most credit profiles), paying off all but one or two cards before the statement drops (= before they report) results in almost all cards reporting a $0 balance. Do let one report, because oddly there can be a ding (again, not for all credit profiles), if everything reports as $0.

It's not something that needs to be done before you want your FICO's optimized, but sometimes an opportunity pops up unexpectedly, and it can be nice to have fine-tuned one's reports. Probably not an issue here for most forum members, but you never know, especially for younger people without 25-30+ years of credit history.
That's interesting. I just started a thread about "sock drawered" credit cards,
viewtopic.php?f=11&t=166583
and some people seem to be saying the opposite, that in some cases you need to make sure a card does not have a zero balance (occasionally).

My question is, how do people know these things.
Sriracha
Posts: 522
Joined: Mon May 31, 2010 12:14 pm

Re: Question about Citi Double Cash Card

Post by Sriracha »

555 wrote:
bayview wrote:For optimized FICO scoring (this works for most credit profiles), paying off all but one or two cards before the statement drops (= before they report) results in almost all cards reporting a $0 balance. Do let one report, because oddly there can be a ding (again, not for all credit profiles), if everything reports as $0.

It's not something that needs to be done before you want your FICO's optimized, but sometimes an opportunity pops up unexpectedly, and it can be nice to have fine-tuned one's reports. Probably not an issue here for most forum members, but you never know, especially for younger people without 25-30+ years of credit history.
That's interesting. I just started a thread about "sock drawered" credit cards,
viewtopic.php?f=11&t=166583
and some people seem to be saying the opposite, that in some cases you need to make sure a card does not have a zero balance (occasionally).

My question is, how do people know these things.
Lots of info out there, but the exact FICO calculation will probably never be known by mere mortals. :-)

"Whether you're showing an amount owed on certain types of accounts:
In some cases, having a very small balance without missing a payment shows that you have managed credit responsibly, and may be slightly better than carrying no balance at all. Having a low credit utilization ratio can be better than having a high one, or none at all. For example, closing unused credit accounts that have zero balances and are in good standing will not raise your FICO® Scores." http://www.myfico.com/CreditEducation/Amounts-Owed.aspx
Don't reach for yield.
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bru
Posts: 1001
Joined: Fri Jul 23, 2010 6:32 pm

Re: Question about Citi Double Cash Card

Post by bru »

When I switched from Citi Dividend to Citi Double Cash my credit limit remained the same, $9800. For my Chase Freedom my limit is $12100 and for Discover IT, $9000, so not really out of line. I never really think much about credit limits on any of my cards as I don't get anywhere near it but being that I am a long time customer and have a >800 FICO score the limit should probably be higher. I don't want them to do a hard pull so I will see what they can do on the spot via phone call.
gvsucavie03
Posts: 1460
Joined: Sat Feb 16, 2013 8:30 am

Re: Question about Citi Double Cash Card

Post by gvsucavie03 »

I just got approved for mine. First card (I'm 34, but we're going to be buying a house in the next 18-24 months), credit score low 700's, they gave me a $3,000 limit. Should I wait to ask for it to be raised? I won't be spending more than 20% of available limit, will pay in full every month, and only intend for this to improve our score to get a mortgage.
docbrown
Posts: 107
Joined: Fri Nov 20, 2015 8:37 pm

Re: Question about Citi Double Cash Card

Post by docbrown »

I'm sticking with Amex Blue Cash Preferred. I'd love to get the Double Cash card, but the Citi web site is execrable. I'd rather not deal with it even though I could make an extra $40 a year on non-grocery store, non-gas station purchases (I'm a low spender).
Roth was a Senator, not an acronym. Please, stop writing it in all caps.
FinTruth
Posts: 42
Joined: Sat May 02, 2015 11:08 am

Re: Question about Citi Double Cash Card

Post by FinTruth »

They gave me a limit of around $11k if I remember correctly, it was sometime last year. I called them up, and they increased it to $35k. I told them that my AMEX has a limit like that and I would like the same with the Citi card. They put me on hold and approved in a few seconds.

Now, the hard part. For some reason, they could not get the card mailed to me. First one got lost, second one got lost, finally received the third one that was sent UPS. We requested a card for my wife, same thing happened! They didnt want to UPS my wife's card until I threatened to cancel both of them if they didn't. Not sure what the deal was, but their normal credit card processing did not work.... really odd. I hope renewals gets mailed correctly.
Ninnie
Posts: 390
Joined: Mon Oct 05, 2015 12:17 pm

Re: Question about Citi Double Cash Card

Post by Ninnie »

docbrown wrote:I'm sticking with Amex Blue Cash Preferred. I'd love to get the Double Cash card, but the Citi web site is execrable. I'd rather not deal with it even though I could make an extra $40 a year on non-grocery store, non-gas station purchases (I'm a low spender).
+1

In stark contrast to Citi, I love the Amex website to pieces.
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