"Approved & My Highest Credit Limit So Far"

Citi ThankYou® Preferred Card - Bonus Point Offer Review
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Written by: krave on 2011-06-08

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krave's review: Callout Comment I first got an invitation from Citibank last year for Citi Diamond Preferred Rewards Card. For me, the rewards are good, and the benefits are great. But I've been holding off because I know I have a short credit history and was afraid of getting a hard pull then being denied.

Then finally last month I received this offer in the mail. The rewards looks okay, and the card looked cute. (I love blue). So I reviewed the offer for a couple of days, looked into my credit profile, and finally decided to go for it.

Current credit situation: 2 yrs 10 mos credit history. 5 credit cards (2 store cards - JCP, Walmart; & 3 regular cards - BofA, Chase, Capital One) Always paid in full each month, no late payment, & 1 car loan.

I applied online, at the same time with AmEx Blue Cash Everyday - June 1st. So same information was asked, name, address, income, occupation, etc.

Instant approval online, with credit limit of $7800. Earn 1 ThankYou Point for every $1 you spend on purchases. For your first 12 months, earn 5 points for every $1 you spend on purchases at gas stations, supermarkets and drugstores. 1 point for every $1 you spend thereafter. Earn an anniversary bonus on points earned from purchases every year.

Haven't received the actual card in the mail yet. But according to the offer:
No Annual Fee
0% introductory APR on Balance Transfers & Purchases for 15 months, after that APR will be 12.99% variable.
Rewards start at 100 points.
No expiration of points.

Interesting thing to know at Citi.com's website, it says:
No Pre-set Spending Limit - There's no need to worry about hitting your spending limit, as long as you pay in full each month the amount that exceeds your revolving credit limit.

In conclusion, since I haven't received the card yet, just reading the benefits and rewards, this card will be used often, especially for trips and big ticket items. Citi is very generous with the credit limit they gave me, considering I only have 2 years and 10 months of credit history. This is a keeper. I hope they won't decrease my CL in the future.

Looking forward to see their Online Account Management.
Will update as soon as I receive the welcome packet, hopefully within this week.

Credit scores:
TU - 745
VT - 845


Comment 1 by wanderer
Re: Approved & My Highest Credit Limit So Far User Icon on 2011-06-08

Remarks WOW! Congratulation! The Citibank "Thank You" Preferred Mastercard is the equivalent of a World Mastercard with great benefits. Super CL, 12.9% APR and no-preset spending limit (like American Express)... You have mined your credit well. Enjoy your carefully thought out choices. Use the card often and Citi Bank won't decrease your CL. Oh yeah... great FICO and Vantage Scores!!!
Comment 2 by colonative
Re: Approved & My Highest Credit Limit So Far User Icon on 2011-06-08

Remarks Congratulations. Sounds like you are off to a great start for building your credit.
Comment 3 by hjm331
Re: Approved & My Highest Credit Limit So Far User Icon on 2011-06-09

Remarks Congrats! That's a really nice CL. Don't spend it all on one place!
Comment 4 by krave
Re: Approved & My Highest Credit Limit So Far User Icon on 2011-06-09

Remarks Thanks Wanderer & ColoNative!

I wouldn't have done it without this site. I really learned a lot, and I keep on visiting everyday to follow your experiences and advices. =)
Comment 5 by krave
Re: Approved & My Highest Credit Limit So Far User Icon on 2011-06-09

Remarks Thanks Hjm331! I promise I won't spend it in one place. ;-)
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