What credit score rating do it’s worthwhile to get Citi Double Money Card? – Level Man

Editor’s Be aware: This put up has been up to date with new info. Citi is a TPG promoting companion.


A part of each award traveler’s technique is being proprietor Cash back rewards card.

The Citi® Double Cash Card Provides as much as 2% cash-back rewards — 1% while you purchase and 1% while you pay — on each buy with no restrict, and might fit well In a big Citi ThankYou® Rewards-Earning Portfolio. Proper now, the cardboard is providing $200 money again after spending $1,500 on purchases within the first six months of account opening.

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If you’re contemplating making use of for this Citi Double Cash CardYou could be uncertain when you have excessive sufficient Credit score be accepted. After all, your credit score rating is without doubt one of the many concerns that issuers consider when deciding what to do. Approves you for the card. So, let’s examine what it takes to get accepted for the Citi Double Money Card.

On this put up

What credit score rating is required for Citi Double Money Card?

You possibly can guess Excellent credit score of around 760* Approval required for A Reward card As such Citi Double Cash Card. That being stated, you should still be accepted with a decrease rating if different points of your credit score portfolio look good to Citi.

Citi doesn’t publish Specific credit score Its playing cards require approval. Along with your credit score rating, different elements that go into Citi’s eligibility determination embody your revenue and the age of your accounts.

(Photograph through Getty Photos)

Associated: Why a perfect credit score is not necessary

Is Citi Double Money card?

The Citi Double Cash Card Earn as much as 2% money again on all purchases — 1% while you make a purchase order and one other 1% while you pay your assertion — Without charging an annual fee And there’s no restrict to the cash-back rewards you may earn. When you a Cash back rewards card To make use of a cash-back rewards card to make use of on all of your purchases or to make purchases exterior of the bonus classes in your different playing cards, the Citi Double Money Card is a good choice.

You possibly can too Redeem cash-back rewards earned on your Citi Double Cash Card to Citi ThankYou® Points By means of a linked ThankYou account. And, in case you even have a premium Citi Thank You Card eg Citi Prestige® Card or Citi Premier® CardYou possibly can then switch your rewards to e book flights with anybody Citi’s airline partner.

Info for Citi Status has been independently compiled by The Factors Man. The cardboard particulars on this web page haven’t been reviewed or offered by the cardboard issuer.

There are some downsides Citi Double Cash Card: A 3% foreign transaction fee and minimal advantages. However, contemplating the incomes price and lack of annual price, the Citi Double Money Card continues to be a beautiful choice for a lot of shoppers.

Associated: Citi Double Cash Card Review

What number of card accounts can I open?

Citi often Does not limit the total number of credit cards You might be opened as amex does Nonetheless, Citi seems to have a most credit score line that it’s prepared to increase throughout all Citi playing cards.

Due to this fact, in case you obtain an “software pending” discover when making use of Citi Double Cash Card And you’ve got at the very least one Other Citi credit cardsIt could be price calling Citi’s Review line 1-800-695-5171 to see if you will get accepted by Change some credits From one among your present playing cards to open a brand new card.

Associated: How many credit cards should I have?

The way to verify your credit score rating

There are a number of methods to do it Check your credit score for free. For instance, many bank cards offer you Check your FICO score at no charge. This makes it simple to trace your rating progress over time, particularly in case you’re lively Working to improve your credit score.

Credit Karma And Credit Sesame There are two standard (and free) web sites that permit customers to view their TransUnion and Equifax VantageScore 3.0 credit score scores.

(Screenshot of Credit score Karma)

Associated: The biggest factors that affect your credit score

Components Affecting Your Credit score Rating

Earlier than making use of for any bank card, it is vital to grasp the elements that make up your credit score rating. Accordingly myFICO, 90% of high lenders use the FICO rating to make lending selections. The formulation for calculating your credit score rating is not precise, however FICO is clear in regards to the various factors they consider and the way a lot weight is given to every:

Components That Make Up Your FICO Rating (Picture supply: FICO)
  • Cost Historical past (35%): Have you ever paid previous credit score accounts on time.
  • Steadiness Quantity (30%): The relative dimension of your present debt and the ratio of your present debt to your accessible credit score.
  • Size of credit score historical past (15%): How lengthy your credit score accounts have been established (together with the age of your oldest account, the age of your latest account and the typical age of all of your accounts), how lengthy sure credit score accounts have been established and the way a lot you owe. It is time Used some accounts.
  • New Credit score (10%): What number of new accounts you may have opened lately.
  • Credit score combine (10%): What number of various kinds of credit score accounts you may have, similar to bank cards, retail accounts, installment loans, finance firm accounts and mortgage loans.

Associated: How credit scores work

What to do in case you get rejected

In case your software is denied, it is best to obtain a letter within the mail explaining why Citi denied your software. Relying on the explanations given for opting out, you could wish to use this info Improve your credit score Earlier than reapplying. Or, in case you consider you may present further info that will permit your software to be accepted, it is best to name Citi’s reconsideration line at 1-800-695-5171 and make your case. ought to

When you name the reconsideration line, state that you’ve lately utilized for it Citi Double Cash Card, you might be shocked to search out that your software was rejected and want to communicate to somebody about reconsidering that call. As soon as the agent pulls your software, be ready to current a compelling argument as to why Citi ought to approve your software. You’ll have a greater probability of success if you’ll be able to tackle Citi’s said motive for rejection, e.g. An account closed – If the explanation was that you just had too many open accounts.

Associated: How bad is being denied for a credit card?

How lengthy to attend earlier than reapplying

It is best to keep away from reapplying for a Citi card till you have resolved the the explanation why Citi rejected you. However, if you wish to reapply, the consensus is that you could solely apply for one Citi card (private or enterprise) each eight days and not more than two playing cards in a 65-day window.

Associated: The Ultimate Guide to Credit Card Application Restrictions

Contemplate different cash-back playing cards with no annual price

There are various cash-back bank cards with No annual fee. The perfect card or playing cards for you’ll depend upon many elements, however in case you spend lots in a sure class, you could wish to get a card that earns a better rewards price in that class. Listed here are the preferred choices, together with Citi Double Cash Card:

card Signal-up bonus reward price Overseas transaction charges
Citi Double Cash Card Get $200 money again after spending $1,500 on purchases within the first six months of account opening. 2% on every little thing (1% while you purchase and 1% while you pay) 3% of each buy
Capital One Quicksilver Cash Rewards Credit Card $200 money bonus on spending $500 on purchases inside three months of account opening 1.5% on every little thing nobody
Chase Freedom Unlimited Intro Provide: Get an additional 1.5% money again on every little thing you purchase (as much as $20,000 spent within the first 12 months) – price as much as $300 in money again! 5% money again on journey bought via Chase Final Rewards®, our premier rewards program that allows you to redeem rewards for money again, journey, reward playing cards and extra;

3% money again on drugstore purchases and eating at eating places, together with takeout and eligible supply service

1.5% on all different purchases

3% of each buy
Bank of America® Customized Cash Rewards Credit Card $200 money again bonus after making at the very least $1,000 in purchases within the first 90 days of your account opening 3% in your alternative of a class and a pair of% in grocery shops and wholesale golf equipment (first $2,500 in a mixed alternative class/grocery retailer/wholesale membership purchases every quarter, then 1%)

1% on different purchases

3% of each buy
Blue Cash Everyday® Card from American Express Earn a $200 assertion credit score after spending $2,000 in purchases in your new card inside the first six months of card membership. 3% money again for every class (then 1%) as much as $6,000 per calendar 12 months on US supermarkets, US gasoline stations and US on-line retail purchases,

1% on different purchases

Money again is earned within the type of Reward {Dollars} that may be redeemed for assertion credit score.

2.7% of every buy (see Rates and Fees)
Capital One SaveOne Cash Rewards Credit Card $200 money bonus after spending $500 on purchases inside the first three months of account opening 3% on eating, leisure, standard streaming providers and groceries (besides superstores like Walmart and Goal)

1% on all different purchases

nobody

Associated: Credit Card Showdown: Citi Double Cash vs. Chase Freedom Unlimited

conclusion

The Citi Double Money Card is one among our favourite cash-back playing cards, because of a easy however profitable incomes price. Incomes 2% on all purchases is superior, so you may wish to be sure to qualify earlier than making use of. Bear in mind, there are different choices if you’re denied, similar to calling the reconsideration line or making use of for an additional. Cash-back card.

Apply right here for Citi Double Cash Card And get $200 money again after you spend $1,500 on purchases within the first 6 months of account opening.

Associated Guides:

Extra reporting by Ryan Wilcox and Stella Schon.

For Amex Blue Money each day charges and costs, click on right here here.

Featured photograph by John Gribbon/The Factors Man.

*Level Man Credit score Vary is derived from the FICO® Rating 8, which is one among a number of credit score scores. When you apply for a bank card, the lender could use a distinct credit score rating when contemplating your software for credit score.

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