Citi Cards - close 1 before applying for business card?

Discussion in 'Other Credit Card Programs' started by servo, Aug 23, 2012.  |  Print Topic

  1. servo

    servo Silver Member

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    I've got the 2 50k AA Visa and AmEx cards, both at the same time earlier this month. I'm using the Visa for everyday spending and will have the min spend requirement complete on the AmEx next month. After then, I have no real reason to keep the 2nd AA card. Would it be more beneficial to close the AmEx card before applying for the business card? If so, how soon before I apply for the business card (which I think is recommended at LEAST 61 days out from the personal card apps - I'm going to wait 90), should I close the AmEx AA card? Is the day before sufficient? I really don't want the hassle of the recon line if I can avoid it.
     
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  2. edekba

    edekba Gold Member

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    do not close the Amex until at least 6 months... I've seen citi take away Thank-You points for closing accounts early.
    I would just keep it open and then apply 90 days after. Personal vs Business they should not have a problem with you having another card; just tell them you want to keep your expenses seperated.

    Then next year cancel if you so desire.
     
  3. deant
    Original Member

    deant Milepoint Guide

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    Remember that Citi has been sticklers, at least to some people, on the business card. I don't know about recently, but in the past they have asked for documentation on the business (utility bills, etc.). So be prepared.
     
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  4. marcwint55

    marcwint55 Gold Member

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    I would keep the card for at least six months, and then I would call the retention department to see if they will offer you something to keep the card longer. Every time I have called on one of the cards, it has been very worthwhile.
     
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  5. servo

    servo Silver Member

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    Thanks for this advice. So, the general consensus is that I apply for the business card at 90 days, and at 6 months of the Amex, call the retention line (is that number easily found?) and see what they offer? I know when I closed out my first Citi card they threw everything they had at me, it just wasn't a very worthwhile card at that time - so what you say sounds legit. I have no problem shifting credit from the other 2 cards in order to gain approval for the business card, I just wanted to avoid the recon line if it worked out better. It sounds like I might benefit from having all 3 at the same time.
     
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  6. marcwint55

    marcwint55 Gold Member

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    when you call the customer service number on the back of the card, you have to ask for the retention department and they will transfer you.
     
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  7. vardievard

    vardievard Active Member

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    Have you applied for the business card and were you asked for further documentation?
     
  8. Extra Pack of Peanuts

    Extra Pack of Peanuts Silver Member

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    I got denied for the Citi/AA biz card 3 times before getting approved. The 3 times I got denied were for "too many recent credit inquiries" even though I did it on the same day as my App-o-Rama.

    The 4th time, when I got approved, I did it as part of the AoR but I did it FIRST, before the other cards, and got instant approval. I was not asked for any proof of business, even though I signed up as a sole proprietorship with my SSN.
     
  9. servo

    servo Silver Member

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    How far apart from your other Citi AA card approvals was the approved Biz card?
     
  10. Extra Pack of Peanuts

    Extra Pack of Peanuts Silver Member

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    I got the personal Citi/AA cards back in August, 2011. I then tried to get the biz in Nov 2011, got denied. Wrote reconsideration, got denied. Tried again in April, 2012, got denied. Just finally got approved end of August, 2012.
     
  11. servo

    servo Silver Member

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    Thanks for that info. How many inquiries did you have at the time of the biz app? I have had 5 cards and 4 inquiries this year so far.
     
  12. DJP_707
    Original Member

    DJP_707 Silver Member

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    Does the Citi AA card offer any retention bonus or points. I just got my annual fee of $95 so I was going to cal and cancel the card.
     
  13. Extra Pack of Peanuts

    Extra Pack of Peanuts Silver Member

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    Not sure, but probably about the same as you. I had pulled of an App-o-Rama in April that was for 4 cards, and before that, a 4 card AoR in Nov. 2011.
     
  14. Extra Pack of Peanuts

    Extra Pack of Peanuts Silver Member

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    I've heard some people being able to get retention points, but when I called last month, they didn't offer me ANYTHING. I even tried to ask for it and it was a no go. I think they may be tightening up on the retention bonuses.
     
  15. vardievard

    vardievard Active Member

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    I just applied for the AA Citi Biz card and was rejected because of too many inquiries on my Experian Credit Report. Called reconsideration 2x and according to them there is nothing they can do. Except me sending my full experian report for them to review.

    Any suggestions?
     
  16. servo

    servo Silver Member

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    How many inquiries do you have on it? Have you offered to shift available credit around on other Citi cards?
     
  17. vardievard

    vardievard Active Member

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    I have offered to shift credit around as well as perhaps close any of my other 2 personall AA cards that i recieved in May. Wasn't even sure if personal credit lines impact business lines.

    As for inquiries, being in NJ it appears that 6 of the 8 cards I've received this month have been pulled from Experian.
     
  18. IkeEsq

    IkeEsq Gold Member

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    That is a LOT of credit cards to be getting in a short period of time, especially hitting one credit bureau. I would not suggest doing more than one-two per bureau every 3 months or so. If there is some reasonable explanation for all of those cards you can try sending a letter to the Executive Office. That worked for me to get the second 50K HHonors card a couple months back, but they claimed I had 6 pulls in 7 months (and I think there were only really 3).
     
  19. vardievard

    vardievard Active Member

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    8 cards THIS YEAR not month, sorry about that. Does that make a difference for your recommendation?
     
  20. edekba

    edekba Gold Member

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    I read somewhere that you should be able to freeze your EXP report; thus when you apply they won't be able to use EXP and grab the report from somewhere else.

    however this runs the risk that they won't approve it at all, since they prefer EXP
     
  21. IkeEsq

    IkeEsq Gold Member

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    :) OK, I was a little concerned there! I would suggest sending a letter to the Executive Office explaining why you need this card, how credit-worthy you are, and how the other cards you received were blah, blah, blah. Tell them that you are willing to accept the smallest CL they extend and even move CL from an existing card so as not to increase their exposure, blah blah.

    CitiBank Executive Review Department
    P.O. Box 6000
    Sioux Falls, SD 57117

    I sent a similar letter about the second HHonors card and got a letter in the mail a few days later suggesting moving some credit line and to call them back to accept. Can't hurt, right?
     
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  22. IkeEsq

    IkeEsq Gold Member

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    I do not believe that you can force them to use another report, they will simply deny your application. Check creditboards for more info on such things.
     
  23. vardievard

    vardievard Active Member

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    Concerned or jealous haha, 8 in a month would be a Guinness world record! Thanks for the help and I will try as soon as I get the CITI letter in the mail.
     
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  24. IkeEsq

    IkeEsq Gold Member

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    Concerned. :p My wife and I do 8 at a time between us. Sometimes more. It is all the spend and tracking I can handle!
     
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