*Expired* Citi ThankYou Premier Card - 50,000 bonus ThankYou Points after $2,500 spend, 1st year annual fee waived

I tried at right around 6 months, they offered 10k (deposited 3 weeks later without me spending another dime on the card). I cancelled the card 2 months after that (no deal retention offered that time).

New working link http://creditcards.citicards.com/usc/thankyou/Premier/internal/O...

that link redirects to a 25k offer now.
Here's a 50k offer link

they all forward to 25k for me now..

robodukie said:   defjukie said:   I tried at right around 6 months, they offered 10k (deposited 3 weeks later without me spending another dime on the card). I cancelled the card 2 months after that (no deal retention offered that time).

Just curious for those of you cancelling- why are you cancelling vs. transferring to a no-fee card? I thought that was better generally for one's credit score. I know that too much credit can be bad in lender's eyes as well, so is that why you are closing?

Most people have sufficient credit and credit history that closing a card will be a blip in one's score (if I close three of my cards tomorrow, my score may drop 10 points, then recover to where it was within 3 months). I would see no noticeable long term benefit by transferring to a no-fee card (unless it's my oldest line of credit), and my credit is good enough that I don't care about a 10 point drop for 3 months.

So, when it comes to cards like this - we will close it if it serves no use for us. For me, that happens when the annual fee is due.
Also, there's a Mastercard and a VISA version of this card. Close one get the other. Keep getting the annual fee waived for the same benefit.

centrifuge41 said:   imbatman said:   Also, there's a Mastercard and a VISA version of this card. Close one get the other. Keep getting the annual fee waived for the same benefit.Careful...you can generally get both by doing the same app a few minutes apart. But if you get one, and then wait a day, you might not be able to get the other for another 12, 18, 20 months.

Understood, I usually have other cards I want to apply for, and only end up throwing one of these in every 2 years or so. So replace every few months with many many months.

http://creditcards.citicards.com/usc/drtv/rewards/Nov2011/spot1/...

robodukie said:   defjukie said:   I tried at right around 6 months, they offered 10k (deposited 3 weeks later without me spending another dime on the card). I cancelled the card 2 months after that (no deal retention offered that time).

Just curious for those of you cancelling- why are you cancelling vs. transferring to a no-fee card? I thought that was better generally for one's credit score. I know that too much credit can be bad in lender's eyes as well, so is that why you are closing?

In addition to what imbatman replied, I really only keep my oldest account alive with each issuer. I used to consolidate the credit limits of the cards I was closing into the the older accounts, but they've started cracking down on that (at least at Citi). So, rather than have to keep up with a million cards I just cancel them once I've cashed out on the signup offer nowadays. IIRC, I actually tried to convert this Premier to a Preferred card and they told me it could not be done.

centrifuge41 said:   http://creditcards.citicards.com/usc/drtv/rewards/Nov2011/spot1/...

thanks!
approved

dernit!

Citi has been doing this for ages. I had alerted FW to this back in the Citi CR 5% CB days. People were openly posting everything under the sun and Citi started shutting down.

For that matter I think other banks do this too. They hit the popular discussion sites to see how their program is being abused and what steps to take to shut it down.

People need to use common sense when posting in the open forum.

And PM is a great tool. Everyone here should use it more.

How do you think the heavy-hitters share info (not that I am one, but I am aware of some of their activities).

If anyone has a known working link to the 50K offer please PM me and I can coordinate the controlled distribution of it to known legit FW members who have credentials.

I saw an offer on the Citi ATM for a 60,000 point signup bonus on some ThankYou card for Citigold customers. I could not talk to any of the emp;oyees since they were otherwise disposed. Does anyone know the details? I emailed Citi customer service but no one responded yet.

^read the thread, bud.

recklessmax said:   Is it correct that Citi issue's a large 1099-INT for the 50K TYP at the end of the year (i read on some thread something like 800$)NO.

Is there a number with CITI where you can discuss your credit situation and possibly suggest reallocation of lines from another card?

My application got rejected with "your total credit obligations, which include outstanding credit lines, are to high to meet our approval guidelines when compared to your stated income".

This doesn't sound right given high income, good credit scores, and card balances less than a third of stated income. The only interesting thing is the reference to outstanding credit lines, which are often viewed as a plus (making the debt to credit lines lower). Possibly this is a new CITI criterion, or possibly the problem is total CITI lines to income (which I would be happy to deal with by reallocating lines (and have previously done in getting a CITI card, or dropping unused cards). Does anyone know if this is a new CITI policy?

Previously when I had found myself with a CITI card whose fee would not justify the utilization I had called to cancel, with the outcome often being an inducement to keep the card open through waiving the fee (or equivalently, a small bonus whose value offset the fee) or changing the card to another with no fee. I had presumed an open card with a decent line them was an asset. Possibly, there are new policies which mean the unused cards should just be closed.

My previous experience had been if they thought I had too many cards, or they were over exposed to me, to offer to close a card, or to reallocate a credit line.

In calling I got what sounded like a Indian, and was told repeatedly to talk to Equifax (who as we all know, does not make credit decisions). She did state she could not reveal what they viewed as my obligations etc. from the credit report(which are probably accurate on the report, from checking it).

I don't think the facts on my report (or my income or financial situation) have changed substantially from what was on the application for the last card CITI approved (their Dividend Mastercard applied for in February), and I had expected this to either be approved (or rejected on the basis I had previously had Premier Thankyou cards which I not used much beyond what was required to get the bonuses, or had been product exchanges from other cards).

I did get out of her something about you have a lot of inquiries on your credit report (which could be a real reason for ejection, but which should be stated if that is the reason).

It would be rational for CITI and other large banks to use profitability models which identified customers who were unlikely to be profitable even if credit worthy (possibly due to adjusting their spending patterns so as to avoid paying interest or fees, and spending on the cards that gave the highest rebates for that expenditure), but few if any banks appear to do this.

Will I be eligible to this if I already have a Citi Thank you card (no fee version)?
Thanks

Just applied for Visa and MC using this link I found on FT. Caution: there is no language concerning sign-up bonus, but the poster there says the CSR confirmed 50K for $2500/3mo spend. YMMV. I was approved for both and will confirm when I know the sign-up bonus details.

https://www.citicards.com/cards/acq/Apply.do?screenID=3131&app=U...

dukerau said:   Just applied for Visa and MC using this link I found on FT. Caution: there is no language concerning sign-up bonus, but the poster there says the CSR confirmed 50K for $2500/3mo spend. YMMV. I was approved for both and will confirm when I know the sign-up bonus details.

https://www.citicards.com/cards/acq/Apply.do?screenID=3131&app=U...

t-minus 37 hours before Citi pulls the application offline.

recklessmax said:   Is it correct that Citi issue's a large 1099-INT for the 50K TYP at the end of the year (i read on some thread something like 800$)

No, not for credit card bonuses. They issue 1099s only for TYPs earned for bank account opening bonuses.

Yey! Got the 50,000 bonus posted.