How to Get Pre-Approved for a Citi Credit Card

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Most bank card customers can think about the frustration of being declined for a brand new card, particularly when there’s a good-looking welcome bonus or a protracted 0 p.c steadiness switch supply at stake. You’re not solely lacking out on a particular promotion or limited-time bank card supply, however you would possibly even take a brief hit in opposition to your credit score rating.

Fortunately, preapproved bank cards can assist take away a few of the guesswork from the bank card software course of. Right here’s the best way to discover out should you’re preapproved for a Citi bank card.

What’s bank card preapproval and the way does it work?

Bank card preapproval is strictly what it seems like: a strategy to test your possibilities of being accredited for a card with out incurring a tough inquiry in your credit score report. Preapproval requires solely a delicate pull, which doesn’t influence your credit score rating however does enable bank card issuers like Citi to view sufficient info in your credit score report to judge your creditworthiness as a possible buyer.

Remember that, though some issuers use the phrases interchangeably, getting preapproved vs. prequalified for a bank card means one thing barely totally different. Briefly, you will get prequalified by offering much less info to the issuer than you’d have to be preapproved for a card. Regardless, neither prequalification nor preapproval ought to set off a tough pull in your credit score.

It is usually necessary to notice that neither prequalification nor preapproval ensures approval for a bank card, though preapproval comes with a larger chance of approval afterward. Normally, each merely offer you a greater thought of the place you stand earlier than you resolve to maneuver ahead with making use of. They will additionally typically uncover focused gives you wouldn’t discover elsewhere, like the next sign-up bonus, a decrease rate of interest or higher rewards. You’ll nonetheless must submit an software earlier than being accredited for the cardboard, which can then set off a tough credit score inquiry.

Find out how to get preapproved for a Citi bank card

You will have a couple of choices for locating out whether or not you might be preapproved for a Citi bank card — and the excellent news is, the method is tremendous easy whatever the route you’re taking.

Test for gives on Bankrate’s CardMatch instrument

Bankrate’s free CardMatch instrument is a fast and straightforward strategy to gauge your approval odds for a Citi bank card. All you must do is plug in a couple of items of private info (your identify, deal with and speak to particulars, plus the final 4 digits of your Social Safety Quantity) to disclose a customized checklist of bank cards matched to your credit score profile in lower than a minute.

In the event you do prequalify for a Citi card and resolve to use, you’ll be able to submit your software proper there within the free instrument.

Prequalify on Citi’s web site

Citi supplies a prequalification instrument by itself web site that may assist present matches to potential playing cards. You’ll want to offer the identical private info listed above, and also you’ll additionally must authorize Citi to acquire a credit score report on you.

To see should you’re prequalified via Citi’s web site, simply observe the hyperlink, fill out the shape and click on “See My Affords.”

Further methods to prequalify for Citi bank cards

Along with utilizing the instruments above, Citi and different issuers incessantly ship prescreened bank card gives within the mail. These gives goal shoppers primarily based on their credit score scores, credit score utilization, location and different components. In the event you obtain a proposal, it primarily means you’re already prequalified. At that time, you’ll be able to both fill out the paper software or submit the invitation quantity on Citi’s web site. (The identical guidelines apply, after all: Getting a proposal doesn’t imply you’re mechanically accredited.)

Different methods to prequalify for a Citi bank card embody calling the issuer straight to speak to a buyer rep or, should you dwell close to one, visiting a financial institution department to talk with somebody in particular person.

Greatest Citi bank cards for prequalified gives

Citi’s lineup of enterprise bank cards is fairly skinny, however thankfully, the financial institution has a variety of nice rewards bank cards for private use. Even higher, a lot of them include extras — equivalent to bonus rewards in sure spending classes (assume: eating and journey), invaluable welcome gives and low intro APRs. Under are a few of our favourite Citi bank cards for prequalified gives.

Find out how to improve your possibilities of getting preapproved

Lenders have a look at extra than simply your three-digit credit score rating when deciding whether or not to approve you (or, on this case, preapprove you) for a brand new bank card. However, typically talking, you’ll be able to enhance your possibilities of preapproval by practising good credit score habits over the long term.

Take inventory of the place you’re at

Whether or not you’ll prequalify for a Citi bank card relies upon largely on the data in your credit score report, which is what the three main credit score bureaus use to calculate your credit score rating. In the event you’re uncertain of the place you stand, request a free copy from every bureau — TransUnion, Experian and Equifax. Learn them intently for errors that would negatively influence your rating (and thus your preapproval odds), equivalent to on-time accounts falsely reported as delinquent or laborious inquiries you don’t acknowledge.

In the event you see something flawed, file a dispute with the credit score bureau(s) to have the merchandise eliminated. Relying on the error, you would possibly see a giant upswing in your credit score standing.

Increase your credit score without cost

In case your credit score report is squeaky clear however your rating wants work, or should you’re new to credit score fully, take into account a service like Experian Increase or UltraFICO. Each providers use different monetary knowledge, equivalent to utility funds or checking account historical past, to assist develop client entry to credit score. Particular person outcomes differ, however it might be price making an attempt in case your credit score rating wants a little bit further assist.

Calculate your revenue rigorously

Citi doesn’t specify minimal revenue {qualifications} for bank card approval, however since revenue is taken into account one indicator of your total skill to repay what you borrow, logic follows that your possibilities of preapproval get higher as your revenue will get larger. And in lots of circumstances, you’ll be able to embody extra than simply your individual wage when calculating your revenue for a bank card software.

If in case you have a companion with whom you cut up residing bills, it might make sense to report your family revenue on the appliance — offered you might have entry to all the family funds. This might increase your possibilities of prequalifying and getting accredited for a Citi card.

Preserve some outdated credit score accounts open

Size of credit score historical past accounts for 15 p.c of your FICO credit score rating. To maintain this portion of your rating in good standing, keep away from closing your oldest bank cards every time doable. The longer the cardboard is open, the higher impact it has in your credit score rating — even should you don’t swipe it commonly. Plus, closing an account additionally lowers your accessible credit score restrict, thereby mechanically growing your credit score utilization ratio — an excellent larger think about your FICO rating.

In fact, there are exceptions to the rule. Closing an older card might make sense when the annual payment is just too excessive to maintain the account open or whenever you’re struggling to handle your accounts responsibly. In these circumstances, it’s higher to err on the facet of economic duty fairly than fear about taking a success to your credit score rating.

The underside line

In the event you plan to use for a Citi bank card, prequalifying via CardMatch or by another means is really a no brainer; it’s free, it gained’t influence your credit score rating and you might uncover that you just’re eligible for a particular promotion you wouldn’t have discovered anyplace else.

However since preapproval doesn’t assure you’ll get a “sure” later, make sure the cardboard suits in along with your life-style and can assist you attain your monetary targets earlier than you click on “apply.”

Good luck, and should the preapproval odds be ever in your favor.