- Centurion Member
- Posts: 410
- Joined: Wed Jun 04, 2014 1:06 pm
- Location: Chicago
I am surprised, as there has always been predictions in Capital One taking this over and MasterCard would be the network.
As the style of Citi, you know the drill. One of the hardest underwriting criteria in the industry, and the service is... While I don't mess with their customer service too much, as a customer for more than two years, I have to say their website really needs better designer to maintain, as there are just so many bugs out there and many links are dysfunctional. Another issue is co-branded cards will require separate username from those non-co-branded ones, unless you have a bank account with them. When of applying for a card from Citi, expect to receive a request of 4506-T from them if you don't get instant approval.
I used to like them pretty much, as they are the first to give me a credit card. The APR of my Forward card, which is my first card, is 12.99% before reduction. Now I get a card from them and they give 22.99% through prequalifier. Frankly, they are still good at 6 month soft pull CLI, though it might be only 1.5k each time, though you may encounter a denial if your limit is high enough. You may be able to combine limits from different cards, but that will take a hard pull as they consider you are requesting CLI.
Since Visa cards will be available to use, it may be extremely easy to rack up points for loyalty programs, since there are way more choices. So this makes me doubt the value in getting a co-branded card for Costco. Nonetheless, even during those days Visa cards are not accepted in store, buying Costco cash cards online has always been viable.
One last thing--While they chose Citi as issuer, cards issued by Citi under MasterCard and American Express network might not be able to use in there. Citi has issued its new cards under MasterCard, e.g. the Double Cash. Now it looks like we can only achieve at most 1.5% back. The FIA AMEX days will be gone, unless you meet a spending threshold on an FIA Visa.
Citi Forward Visa $5000 10/2012 | American Express Blue Cash Everyday $8000 2/2014 | Discover it $7000 5/2014
Chase Freedom Visa Signature $7000 6/2014 | Citi ThankYou Premier Visa Signature $5000 1/2015