Is Citi TY Preferred a good card?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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VisaSpeak
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Is Citi TY Preferred a good card?

Postby VisaSpeak » Sat Apr 20, 2013 4:44 pm

I got an invite. Will probably get approved. But right now I have the Citi Forward card. Is this a good deal


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Rina
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Postby Rina » Sat Apr 20, 2013 5:01 pm

In general I like Citi, but their limits are on the low side, in my experience. Since you're an existing customer, did they give you a hint at how much you could be pre-approved for?
Charge & Credit Cards: 121.8K+ (AmEx Platinum: NPSL; Bank of America Cash Rewards: 50k; PenFed Platinum Cash Rewards: 28.8k; PenFed Pomise 21k; Chase Marriott Rewards: 13.5k; Citi Simplicity 5k; Chase Slate: 3.5k)

Store Cards: 24.9k (The Home Depot: 16.5k; Nordstrom: 6k; Macys: 1.2k; DressBarn: 1k)

LoCs: 19.5k (Credit Union: 17.5k; Tertiary Bank: 2k)

Total: 176k+ (including min 10k tested on AmEx)

cashback
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Postby cashback » Sat Apr 20, 2013 6:52 pm

Its not a good card unless you get the 5x points promo
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

selfmadetool
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Postby selfmadetool » Sun Apr 21, 2013 8:54 am

With the vast number of cards that offer more than 1% rewards, I can think of four reasons why someone would apply for a ThankYou card. They are:

(1) 5% promo as mentioned by cashback;

(2) 20,000 ThankYou points sign up bonus;

(3) 0% interest on purchases introductory period if you need to finance something; and

(4) higher redemption value than your Citi Forward alone.

Otherwise, the card is worthless. Here's the link to the 20,000 ThankYou points promo if you do decide to apply.
Bank of America: BankAmericard Cash Rewards ($10k); Accelerated Cash Rewards ($12k)
Chase: Freedom ($2.6k); Amazon.com Rewards ($5k)
American Express: Blue Card Everyday ($14k)
Citibank: Forward ($7k); ThankYou ($10.5k)
Discover: More ($14.5k)
Barclaycard US: Barclaycard Ring ($9.4k)
GECRB: Banana Republic ($4.5k); Amazon.com Store Card ($10k)
Comenity: J. Crew ($3.6k)

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Z06Biker
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Postby Z06Biker » Sun Apr 21, 2013 1:09 pm

How is the card worthless by definition when it has all the aforementioned perks you guys even listed out?
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard

selfmadetool
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Postby selfmadetool » Sun Apr 21, 2013 1:27 pm

Z06Biker wrote:How is the card worthless by definition when it has all the aforementioned perks you guys even listed out?


The first three items on my list are short-term benefits. If I was into churning, then the ThankYou card would be a decent offer, as I'd love to collect $100+ per credit pull every day of the week and twice on Sundays. Since I generally keep my cards for the long run, though, I'm more particular about which ones I apply for.

In terms of actual usage, the card is worthless. After the first three benefits are gone, I don't see any real purpose for this card except keeping it around to increase redemption levels while earning on another card. I was fortunate enough that Citi only pulled once since I applied for both my Forward and ThankYou on the same day.
Bank of America: BankAmericard Cash Rewards ($10k); Accelerated Cash Rewards ($12k)
Chase: Freedom ($2.6k); Amazon.com Rewards ($5k)
American Express: Blue Card Everyday ($14k)
Citibank: Forward ($7k); ThankYou ($10.5k)
Discover: More ($14.5k)
Barclaycard US: Barclaycard Ring ($9.4k)
GECRB: Banana Republic ($4.5k); Amazon.com Store Card ($10k)
Comenity: J. Crew ($3.6k)

FutureBillionaire
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Postby FutureBillionaire » Sun Apr 21, 2013 7:39 pm

Not only did I get the 5x promo, but they will give me 6000 TY points after spending $300 bucks. They also said I get 5x points at restaurants for a year.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape



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