Read My Warning Before Applying for Citi ThankYou Preferred Card

I receive so many of those so called “pre-approved” credit card offers in the mail, typically I just toss them, but when I got an invitation to apply for the Citi ThankYou Preferred Credit Card, I had to investigate further.

The invitation instructed me to direct my browser to Citi.com/applynowthankyoupreferred and enter my “invitation Code” to apply. But before I did that, I did a little research into what this card offers, and its pros and cons. Here’s an outline of what I discovered:

Citi ThankYou Card Benefits

  • Earn 20,000 bonus ThankYou® Points after $1,500 in purchases within 3 months of account opening – redeemable for $200 in gift cards or other rewards
  • 0% intro APR on Balance Transfers and Purchases for 12 months. 12.99%-22.99% based on your credit worthiness
  • Balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
  • 2 ThankYou Points per dollar spent on dining at restaurants and entertainment
  • 1 ThankYou Point on other purchases
  • Points do not expire and earn unlimited Thank You Points
  • Redeem ThankYou Points for merchandise, travel rewards, gift cards, cash and more
  • No annual fee

My Take On What This Card Offers

The 20,000 bonus points after $1,500 in purchases is a real bonus for me, I put a lot of bills and purchases on my credit card, I would quickly reach that and receive my $200 in gift cards – in the first month in fact!

The 0% into APR on Balance Transfers is pretty much standard for cards like these, but while it’s not exactly eye catching, that is definitely a good thing to have. That, along with the things listed above are not that unusual, so the 20,000 bonus points is definitely what would make me apply for this card.

Steps for applying

  • Follow this link to apply – Citi.com/applynowthankyoupreferred
  • Enter the invitation code which should’ve been listed on the piece of mail you received (assuming you got the offer in the mail like I did)
  • Enter your last name
  • Enter your zip code
  • Click on the green “Apply Now” button

Warning! Things to watch out for:

While this credit card offer sounds great, it’s geared towards people with Excellent Credit. So I recommend getting your 3 Free Credit Scores before applying, so you don’t run into any surprises. If your credit isn’t “Excellent”, it’s likely that you won’t be approved for this card – this will result in a “hard inquiry” on your credit report (which can ding your credit score) with no benefit to you in the end.

Citi.com/applynowthankyoupreferred

Read My Warning Before Applying for Citi Simplicity

Yesterday morning I received one of those “pre-approved” credit card offers from Citi, called Citi Simplicity. It gave me a specific URL to visit in order to accept the offer (really to apply for it) – Citi.com/applyforcitisimplicity (which is quite a long web address to remember, I guess that’s part of what made it memorable to me).

Although I don’t typically pay any attention to such offers, this one caught my eye. I investigated a little deeper into what this card has in store for new cardholders and also seasoned Citi Simplicity members alike.

Citi Simplicity Card Benefits:

  • 0% Intro APR on Balance Transfers for 18 months, then just 12.99% – 22.99% based on your credit worthiness
  • Balance transfer fee of $5 or 3% of each transfer, whichever is greater
  • No late fees
  • No penalty fees
  • No annual fee

My Take On What This Card Offers

The 0% intro APR is pretty decent, although not uncommon compared to many other similar credit cards. The best part of it for me is no late fees, EVER! I have to admit, once in a while I forget to make the payment before the due date, and I do occasionally incur a late fee on my Chase Freedom card, and every time I do it’s $39 fee, ouch! I love that this card has no late fee. It lets us lazy/slightly forgetful people off the hook a little bit.

I have a pretty full wallet of credit cards already, so if I’m going to apply for another one, or for that matter, even take a second look at an offer like this, it must really have something to hook me and reel me in.

Steps for applying

  • Follow this link to apply – Citi.com/applyforcitisimplicitynow
  • Enter your invitation code which should’ve been listed on the piece of mail you received (if you got the offer in the mail like I did)
  • Enter your last name (easy one right?)
  • Click on the “Proceed To Application” button

If this credit card offer fits your wants/needs, I invite you to apply right now by visiting the link below. I decided not to apply, but I told a friend of mine about it and he is now a happy Citi Simplicity cardholder. Maybe you will soon be one as well!

Warning! Things to watch out for:

Watch out for high interest rates, balance transfer fees, and cash advance fees with this card. They lure you in with the positives, but keep in mind there are always negatives as well.

Citi.com/applyforcitisimplicitynow