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Good morning everyone, last Saturday, I went to my local Citibank Branch to apply in person for the Citi Prestige Credit Card. By applying in-branch, you receive a different (better?) version of the Citi Prestige with a larger sign up bonus and a lower annual fee. Read this post to learn more about the difference: Citi Prestige: 50,000 ThankYou Points Online or 60,000 TYP In-Branch Offer? Without further ado here is my experience…
I went to my local Citibank Branch as soon as it opened so I would be able to get in, apply for the card, and get out as fast as possible. I also had a meetup in Sacramento later that day that I had to get to, so it was important to finish fast. I spoke with a personal banker who told me to speak with a credit analyst (title?). I told her I wanted to apply for the Citi Prestige Credit Card and she handed me a brochure and packet of information (see below). I asked her to print out an extra copy for my friend, which I scanned into PDF form here: Citibank In-Branch Offers 4-11-2015.pdf. This is the slightly modified sign up bonus details page. There are currently 4 in-branch credit card offers as of April 11, 2015. All of these offers are slightly different (better?) than their online counterpart.
The first page is the actual form you fill out when you apply in branch. It looks like you *must* have a Citi Gold Checking Account. I believe the bottom portion of the form is specific to each branch, so take that into consideration. The second page shows the annual fees and interest fees. The annual fee is $100 cheaper for Citi Gold Checking Account customers and you can add an authorized user to the account for $50. The third page shows the changes to the credit card terms effective April 19, with new bonus categories announced. The last page has details on the “Annual Relationship Bonus” which is very interesting.
Here are more details on the Annual Relationship Bonus. After the first year of spending $50,000 or below, it looks like I will get a 10% bonus on the number of Citi Thank You Points (TYPs) I earned (probably minus the sign up bonus). If I spend more than $100,000 on the credit card, I would get a 35% bonus. Very interesting…
Here are the images of the Citi Prestige brochure:
Now back to the application process. Filling out the form took 5 minutes and you have to write in all your information. Presumably since you have a Citi Gold Checking Account, Citi has already done a background check and credit check on you, so there is not a lot of information that is needed on the application. After completing the form, I was told that they would fax the form into the credit department at Citi.
On Monday morning (and each subsequent morning after that), I called the Citi Personal Application Status and Reconsideration Line @ 1-800-695-5171 to check the status of my application. I learned that the fax arrived sometime on Tuesday evening, but had not been processed yet. I called again Thursday morning and the rep was able to pull up the application and approve me for a $5,000 credit line. No questions asked, I would have been “instantly” approved if I had waited 1-2 more days.
I asked to transfer the $5,000 credit line from my 1 year old Citi American Airlines Executive Credit Card but I wasn’t able to since I still had the $450 annual fee left to pay. I asked to transfer $5,000 from my Citi Double Cash Credit Card to raise the Citi Prestige credit limit up to $10,000. I asked about the sign up bonus and the rep confirmed the in-branch offer. I asked about expediting the credit card, but 2-3 business days was as fast as possible.
I will wait 8 days (from when?) to apply for the Citi ThankYou Premier Credit Card which has a 50,000 Citi TYPs sign up bonus after spending $5,000 in 3 months. Do I wait 8 days from my original in-branch application (Saturday, April 11) or should I wait 8 days from my approval date (Thursday, April 16)? I will probably play it safe and wait at least 8 days from now. I will then call the reconsideration department and move the $5,000 credit limit from the Citi American Airlines Executive Credit Card to the new Citi ThankYou Premier Credit Card.
If you have any questions, please leave a comment below. Have a great weekend everyone!
P.S. I will be at FTU Dallas this weekend, so I will probably not post anything over the weekend.