Citi Double Cash or Citi Thank You Preferred?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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ncosky290
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Citi Double Cash or Citi Thank You Preferred?

Postby ncosky290 » Mon Jul 06, 2015 6:53 pm

Hey guys,

I currently have both the cards titled here. I am curious what one would be the best to keep and does CITI combine credit lines from multiple accounts like Chase does?

Thanks for the replies ahead of time!


kdm31091
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby kdm31091 » Tue Jul 07, 2015 6:49 am

ncosky290 wrote:Hey guys,

I currently have both the cards titled here. I am curious what one would be the best to keep and does CITI combine credit lines from multiple accounts like Chase does?

Thanks for the replies ahead of time!


It's a total no brainer. The Thank You Preferred, IMO a weak card at this point, earns 2x on dining and entertainment only (as points, which may or may not only be redeemable at full value for cash), whereas the Double Cash earns 2% period as cash.

Close the TYP and move the limit to your Double Cash. Citi will move the limits as long as you don't mind taking a HP

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CarefulBuilder14
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby CarefulBuilder14 » Tue Jul 07, 2015 6:21 pm

Ignoring any considerations about account history*, I would take the Double Cash.

The card's rewards make little sense. You need a Prestige or Premier to convert the TYs into miles (I think?) but those cards offer rewards that are always better or equal to TY Preferred's.

*That is, you might consider keeping the inferior one open and not moving your entire CL over. I don't know enough of your history to give advice.*
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CC Deville
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby CC Deville » Thu Jul 09, 2015 7:32 pm

Keep double cash. The resulting cash back is better than points for most novice/intermediate rewards hunters (because you don't have to worry about points and what to transfer them to in order to get the best deal).

There are varying reports of success with credit line consolidation with (Sh)itibank. My sister was able to consolidate her cards' limits but that was back in the early 2000's. (Sh)itibank has been using the CARD Act of 2010 to no longer easily do a lot of things these days. Some people have claimed that it cost them a hard inquiry for them to consolidate the limit, but I could be wrong. It is best to call them and find out-and then let us know!

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Re: Citi Double Cash or Citi Thank You Preferred?

Postby CC Deville » Thu Jul 09, 2015 7:37 pm

CarefulBuilder14 wrote:Ignoring any considerations about account history*, I would take the Double Cash.

The card's rewards make little sense. You need a Prestige or Premier to convert the TYs into miles (I think?) but those cards offer rewards that are always better or equal to TY Preferred's.

*That is, you might consider keeping the inferior one open and not moving your entire CL over. I don't know enough of your history to give advice.*


CarefulBuilder, I am intrigued by this:

"Next: UNFCU + travel bonuses/perks"

Are you joining through United Nations Association of the United States (UNA-USA)? Please post your experiences. Ever since Diners closed applications I have wanted a true Chip + PIN (PIN priority) card for travel and UNFCU is basically the only other true Chip + PIN (PIN priority card).

Er, sorry for the hijack.

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CarefulBuilder14
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby CarefulBuilder14 » Thu Jul 09, 2015 8:07 pm

CC Deville wrote:CarefulBuilder, I am intrigued by this:

"Next: UNFCU + travel bonuses/perks"

Are you joining through United Nations Association of the United States (UNA-USA)? Please post your experiences. Ever since Diners closed applications I have wanted a true Chip + PIN (PIN priority) card for travel and UNFCU is basically the only other true Chip + PIN (PIN priority card).

Er, sorry for the hijack.

That's the reason I want a card from them. It would take the role I wanted Arrival to have. CSP and PRG would still be the travel heavyweights.

Their Elite ($50 AF) version doesn't make sense for me, but I've not decided between their two other cards. I still need to do more research.

So no experience yet, but I would join through UNA-USA.

*I think Visa is also in the process of making "PIN only" terminals more Chip+Sig friendly. I don't have immediate travel plans, and would rather avoid opening a card if I won't end up needing it.

If I don't travel out of the US (and Canada, where I often carry cash) until November or December, then by that time the rules may have changed a bit and CSP/PRG may be enough.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
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Letting new accounts cool off since May
Really not sure what I'll add next or when

Whatamuji
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby Whatamuji » Fri Jul 10, 2015 2:53 pm

@Carefulbuilder: I like that UNFCU card, even with the $25 annual membership to UNA-USA it would give you access to a chip and pin card. Which would be pretty handy.
Kohls: $300, Discover IT: $1.8k, Capital One Quicksilver: $2k, Amazon Store Card: $2.2k, BoA Cash Rewards: 1k, Chase Freedom: 3.2k, AMEX HHonors 3k

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CarefulBuilder14
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby CarefulBuilder14 » Fri Jul 10, 2015 3:39 pm

I already have an investment account at Schwab, and may just get a checking and savings account with them. I could keep a small sum in checking, use an essentially no-fee debit card for a PIN and no FTF, and just replenish funds using my phone as necessary.
Love: IHG, Platinum, Sallie Mae, AA Plat, CSP
Like: Discover, ED, BCE, Hyatt, Arrival, Freedom
Might drop: BrooksBros, Prestige (Costco PC?)
Might add: Proper business card, CSR, Ritz, Delta Gold
Letting new accounts cool off since May
Really not sure what I'll add next or when

attrapereves
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Re: Citi Double Cash or Citi Thank You Preferred?

Postby attrapereves » Sat Aug 01, 2015 6:58 pm

I will be closing my TYP card soon. I only opened it for the intro offer and to carry a balance during the summer. The DC card is so much better.

A question for the pros... Will Citi allow me to transfer the $5500 CL from my TYP to my DC card upon closing the TYP?



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