lorkat89 wrote:Back in January I applied and got the Citi Double Cash card, which it's cool that I get 2% back on purchases. When I had just my secured card if I used it for let's say $40, I would start already paying it off and most of the time have my balance down to $0 before the statement came out. You can't do it with the Citi Double Cash. You have to wait for the statement to close so you get the other 1% (and you have to wait a month or two before it shows up). What I'm thinking of doing before I redeem my cash back, is not use the card for a month or two and let the other 1% catch up.
I have the Citi Double Cash and I love it! It's not true that you have to wait for the statement to close before you pay though. I pay weekly and I've gotten every dime of cash back - charges-based and payment-based - that I've been entitled to. I'm sure you're right that it does take awhile to show up in Citi's "Payment Tracker" but it absolutely will eventually. I really don't think there's a reason to stop using the card for a couple of months before redeeming. I redeem every month and yeah - never missed out on any cash back.
The questions you've asked have already been answered, but I did want to weigh in on a couple:
lorkat89 wrote:5. I took a peek at the application and they want to know how much I usually spend on credit cards. I spend a few hundred a month, but always pay it off and never carry a balance. How much is too much to spend to get the card?
I think you're likely thinking about this the opposite way Capital One, and other lenders, would. They're going to WANT to see spending on the credit card. $1,000 a month is going to sound much more appealing to them than $100 a month because they'll earn more on merchant charges when you swipe the card, and also because potentially you might end up carrying a balance and racking up interest charges (don't do that of course!). They'll definitely want to see income commensurate with spending, but assuming that's there, they'll be happy to see spending.
lorkat89 wrote:6. They ask total balance of all bank accounts. How much do you have to have in your accounts to get the card?
Whoa! My mouth dropped when I read this. I've applied for quite a few credit cards in my life and I've never been asked that. There's no way I would give out that information on a credit card application...or to ANYONE except a romantic partner or financial expert I have a business relationship with (financial adviser, accountant, etc.). Income is completely different. Of course any lender needs to know about income, but I'd tear up any application that asked for account balances.
I'm not saying it's untoward. I mean I hate Capital One personally, but it's not like they're going to try to outright scam you. That's just way too intrusive a question IMO, and I haven't seen it on other applications. Of course if you're comfortable with it then that's your business.
Anyway, like others in this thread, I'd steer you toward Chase, Discover, or another lender - BofA has been good to me. I've severed all relationships with Capital One, but when I did do business with them I found it unpleasant. With Capital One as your frame of reference (or really even Citi - I love their card, but they're not that great for customer service either IMO), I think you'd be shocked at how much more pleasant it is to do business with Discover or Chase instead.