A credit score of 670 or greater is recommended when applying for the Citi® Diamond Preferred® Card, but scores in the excellent credit tier of 740 or higher have the best shot. Credit score requirements aren't hard and fast.
The Citi Diamond Preferred card requires applicants to have good credit or better to be approved, and guarantees a credit limit of at least $500. You could receive a credit line much higher than the minimum, as long as you have a good enough credit score and sufficient disposable income.
The usual Citibank credit card limit is $200 to $2,000 at a minimum, depending on the card. The Citi Double Cash® Card has a $500 minimum credit limit, for example, while the Citi Strata Premier℠ Card has a minimum credit limit of $2,000. Citibank doesn't publicly disclose any maximum credit limits.
If you're just starting out, a good credit limit for your first card might be around $1,000. If you have built up a solid credit history, a steady income and a good credit score, your credit limit may increase to $5,000 or $10,000 or more — plenty of credit to ensure you can purchase big ticket items.
Keeping your credit utilization at no more than 30% can help protect your credit. If your credit card has a $1,000 limit, that means you'll want to have a maximum balance of $300.
What's the easiest Citi card to get? The Citi Secured Mastercard could be the easiest card to get, since it's one of Citi's only cards for credit-builders and people with a limited credit history.
If you are planning to apply for Citibank credit cards, make sure that you are at least 21 years old and have a minimum monthly salary of AED 5,000 or more. You must also ensure that you possess a good credit score.
Having $20,000 in available credit is good if you use no more than $6,000 of that limit. It's best to keep your usage to $2,000 or less at any one time. That way, you keep your credit utilization ratio below 10%, which is great for your credit score.
Silent Generation (75+) $5,000 and above, with the average being around $30,000. Baby Boomers (56-74) Between $5,000 – $10,000, most people have around $40,000.
With a Citi credit card, like the Citi® Diamond Preferred® Card, Citi Premier® Card, or Citi® Double Cash Card, your minimum payment is equal to the full amount if your balance is under $41. If your balance is higher, you'll pay the greater of $41 or 1% of your balance plus interest and late fees.
Here's the average credit limit of members who matched their Citi® Diamond Preferred® Card or similar cards. The average credit limit for members who have matched with this card or similar cards is $8,395, with $3,000 being the most common.
The most difficult Citi card to get is the Costco Anywhere Visa® Card by Citi, since it's their only consumer card that requires excellent credit to qualify. You also need to join Costco if you're not already a member and earn enough income to afford monthly payments on the card.
Bottom line. To get approved for the Costco Anywhere Visa® Card by Citi you'll typically need a FICO® score of 800 or higher. This cash-back card doesn't have an annual fee, but you'll need a Costco membership to apply.
Citi doesn't specify minimum income qualifications for credit card approval, but since income is considered one indicator of your overall ability to repay what you borrow, logic follows that your chances of preapproval get better as your income gets higher.
Salary accounts come with a zero minimum balance requirement.
Your minimum monthly salary must be AED 5,000 or above to be an eligible credit card applicant.
Roughly 45% of people won't be able to get the Citi Diamond Preferred Card due to its credit approval requirement.
Based on FICO® Score 8 model.
Citi will also serve you better if you're looking for a big bank with higher rates. Chase, however, may be a better option for you if branch accessibility and a great mobile app are a priority. If you're not impressed by either of these banks, consider our list on the top banks based on ATM fees.
So, chances are you can speed up the payoff process significantly by making fixed payments. In the example above, if your credit card company calculates payments as 1% of your balance plus interest, your minimum payment on $10,000 in credit card debt would be about $300.
$5,000 in credit card debt can be quite costly in the long run. That's especially the case if you only make minimum payments each month. However, you don't have to accept decades of credit card debt. There are a few things you can do to pay your debt off faster - potentially saving thousands of dollars in the process.
It's a good idea to pay off your credit card balance in full whenever you're able. Carrying a monthly credit card balance can cost you in interest and increase your credit utilization rate, which is one factor used to calculate your credit scores.