May 21 in General discussion
Citibank 🔥
Native Currency: TY Points (Thank You Points)
- Citibank is a good alternative if you have had issues with Chase or Amex.
- They partner with American Airlines for their AAdvantage cards.
- AAdvantage cards earn AA miles, not ThankYou Points.
- American Airlines points are highly valuable.
- Citibank is relationship-based, so it's best to apply in-branch with a banker you have built rapport with.
- Some people are datamined into Citibank without knowing it by using Citi Costco Card or Citi Best Buy card.
PULLS FROM:
- Citibank usually pulls from Experian.
- On the business side, they hard pull EQ for approvals but CLI's go through Experian.
RULES:
- 1/8 rule: You can only apply for one Citi personal card every 8 days.
- 2/65 rule: You can apply for no more than two Citi personal cards every 65 days.
- 1/95 rule: You can apply for ONE Citi business card every 95 days.
- 6/6 rule: You'll be declined if there are 6 or more hard inquiries on your credit report in the past 6 months.
CLI's:
- Citibank offers soft pulls for credit limit increases (CLI's). Directly from the portal.
- Good spend behavior can allow for a CLI every 91 days.
- It's recommended to wait 6 months between CLI requests.
BONUSES:
- Citibank has cooldown periods for card bonuses.
- Different cooldown periods apply to different groups of cards.
- Group 1 (Premier, Preferred, Prestige, Rewards+): 24-month cooldown period.
- Group 2 (AAdvantage + Custom Cash Cards): 48-month cooldown period.
- Group 3 (Citi Double Cash Card): No specific cooldown period.
- Closing an account from a card family resets the cooldown clock for that family.
- Account closure does not reset the cooldown clock for individual AA cards.
BEST PERSONAL CARD:
- The AAdvantage Executive World Elite Mastercard is highly recommended.
- It offers Admirals Club membership with lounge access for you and your immediate family or up to two guests.
- The annual fee is $595.
- It has 10 authorized user card slots, each with a $175 fee.
- Preferred boarding and free checked bags are included.
- No foreign transaction fees.
- Earns 2x AA miles on flights and 1x on everything else.
HOW TO DATAMINE:
- If you already have a bank account with Chase, Navy, or Amex, you can consider Citibank as an additional bank.
- If you already have one of the top three banks, you can datamine with a Citi checking account.
- The basic banking account has a $12 monthly fee, but it can be waived with a $1500 monthly balance.
- Alternatively, you can datamine with an authorized user (AU) or employee card.
MAXIMIZERS:
- Relationship matters on the business side for higher credit limits.
- Some people are datamined into higher limits, while others may start with lower limits.
AADVANTAGE EXECUTIVE WORLD ELITE MASTERCARD:
- This card is great for offering authorized user tradelines.
- The annual fee of $450 can be justified by the value of both the AU and the lounge access.
- With 10 authorized user slots, the potential earnings can be substantial.
BUILDING BIZ CREDIT:
- During the cooldown period from your starter sequence, you can try building business credit.
- Consider applying for true business credit products like Office Depot, Home Depot, Staples, and Tractor Supply.
- This will help build business credit and datamine you without adding new accounts or personal inquiries.
Please note that this information is provided as is and may be subject to change. It's always best to verify the details with Citibank directly.👈👈👈🔥
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4 comments
Citibank 🔥
skool.com/conecto-de-credito-1071
Financial literacy, How to repair your own credit
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