Advice needed: Citi Platinum Select MC pre-approved offer

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4 posts
ryan6578
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Advice needed: Citi Platinum Select MC pre-approved offer

Postby ryan6578 » Wed Dec 22, 2010 12:04 am

After messing up my credit horribly in my late teens/early 20s, being in denial about fixing it in my early 20's to mid 20's, and finally getting my sh*t together in my late 20's, I seem to have reestablished my credit. :cool:
I have a Chase Visa with about $1700 balance & a green AmEx that I use for daily purchases and pay off every month. I'm going to take the advice of another poster here and request to upgrade to a gold AmEx in a couple of months.
I also just finally canceled a First Premier Bank MC because my credit limit was $500, my monthly fee was $7, and my yearly was $47 (yikes!).

SO that's where I am currently.

I just got an offer for a Citi Platinum Select MasterCard. Would YOU apply? I'm interested in
a) transferring my balance from the Chase Visa and
b) retiring (not cancel, just retire) that card because there are no incentives to use that card

There is a 3% balance transfer fee, but that amounts to around $51, which is much better than getting hit with a 19% APR from Chase each month until I pay it off... BUT I want to make sure I'm getting the best card at the moment. For example, I totally would've gotten the AmEx Zync instead of the Green card, but I didn't do my research :confused:

Any advice MUCH appreciated!
Thanks in advance,

Ryan


sdfinch
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Postby sdfinch » Mon Dec 27, 2010 7:57 pm

The Citi Plat card is perfet card for the b/t in my opinion. I use that card all the time my clients b/t I do for them. Right now Citi has a 24 month 0% on B/T offer for that card. The other benefit is Citi only requires 1% of the balance for a payment as well. So your payments are low and 2 yrs of 0% on the balance. I suggest to usually pay heavy for those 2 years and get to a low balance and payments affordable to keep up the payment history. If your trying to lower your credit card payments, it will do that as well.

infomaniac
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Postby infomaniac » Sat Jan 08, 2011 3:34 pm

A balance transfer fee of 3% is below average as most credit cards now charge a 5% fee.

debitcardsblow
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Postby debitcardsblow » Sun Jan 09, 2011 2:33 pm

Never carried a balance here but if I did, what I would do is go for credit card deals that waives the transfer fee. It would not really matter if it's a short deal for 9 or 12 months because you can keep transferring it over and over for no added cost if the fee is waived each time. That's my two cents on it.



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