Replace 11/3/23: Added notice beneath about doable new rule which auto-declines functions if there was a tough pull achieved in your credit score report from any financial institution up to now 5 days. This additionally could trigger a decline for an additional 60 days since Citi will simply use the previous credit score pull for as much as 60 days. (After 5 days you may name reconsideration and ask them to run your credit score report once more for approval.)
Unique Put up:
Citi has strict guidelines on what number of card functions they’ll settle for from somebody. Many individuals are confused about this, and we’ll strive explaining Citi’s guidelines as clearly as doable.
Word: This publish is not about Citi’s 24-month guidelines concerning how incessantly you may get a signup bonus (now we have a separate publish on that churning rule). Right here we’ll talk about after they’ll course of your software in any respect and after they’ll deny you, typically with out even pulling your credit score.
There are nonetheless some query marks right here – please contribute your individual knowledge factors within the feedback. We’ll attempt to hold this publish up to date with any future rule adjustments as properly.
Private Playing cards (8/65)
There are two guidelines to pay attention to concerning Citi private playing cards:
- Should wait 8 days after software earlier than making use of for an additional card. Whereas this rule is well-known, there are knowledge factors of those that acquired authorized for a second card inside 8 days, so this may not be a tough rule (Flyertalk). Primarily based on this, I’d guess {that a} laborious pull can be achieved for functions inside 8 days.
- Not more than 2 Citi functions inside 65 days. The actual rule is 60 days, but it surely’s change into frequent to attend 65 as a safeguard since Citi has been identified to miscount.
These two guidelines have borne the short-hand ‘Citi’s 8/65 rule’.
That’s, after making use of for a Citi card (Day #1), wait eight days earlier than making use of for an additional Citi card on Day #9. You then’ll have to attend till Day #66 to use for a 3rd card. Then on Day #74 you may apply for the following one. And so forth.
Enterprise Playing cards
Relating to enterprise playing cards, the rule is as follows:
- Should wait 90 days between enterprise card functions. Once more, we’ll wait an additional 5 days to be protected.
For instance, if you happen to apply for a enterprise card at the moment Day #1, you may apply for an additional enterprise card on Day #96.
Private + Enterprise Combo
It seems that each enterprise playing cards and private playing cards mix towards for the 65-day wait. A good friend experiences that in a latest enterprise card software, Citi didn’t even do a tough pull as a consequence of the truth that he had achieved two private two functions inside the previous 60 days. Different experiences (1, 2) affirm this as properly.
The 8-day rule is commonly relaxed when making use of for one enterprise and one private card, which means that you would be able to apply for a private and enterprise card on the identical day or the identical week and don’t have to attend 8 days in between (Frequentmiler and others). This may be the case even when making use of for each along with your SSN. Being the 8-day rule is a tender rule, it’s tough to trace strong knowledge on this.
You may apply for a enterprise card utilizing an EIN inside 8/65 since enterprise functions run individually. Thus, it’s doable to get three playing cards inside 60 days (2 private and one enterprise) (1, 2, 3). [However, note, there are data points indicating that while EIN applications don’t count your previous SSN applications against you, SSN applications DO count your previous EIN applications against you (1). Hopefully, this makes sense.]
Notes concerning the Guidelines
- Even denials depend. For instance if you happen to had been denied in your second card on Day #9, you continue to have to attend till Day #66 for the third software. And the identical might be true for enterprise playing cards: if you happen to had been denied a enterprise card, you’ll have to attend 95 days to strive once more.
- In case your software didn’t get processed, e.g. if you happen to violated the 8/65 rule, that software will probably not depend in opposition to you towards your 8/65 (Reddit).
- The one day that issues is the software date, not the cardboard approval date.
- All calendar days depend, even non-business days.
Different Guidelines
5-Day Credit score Pull Rule
Frequentmiler has some experiences indicating a doable new rule which auto-declines functions if there was a tough pull achieved in your credit score report from any financial institution up to now 5 days. This additionally could trigger a decline for an additional 60 days afterward since Citi will simply use the previous credit score pull for as much as 60 days. (After 5 days you may name reconsideration and ask them to run your credit score report once more for approval.)
New 1/60 Rule?
Up to now few months, some folks have been advised by Citi that just one new card could be authorized per 60-days.
Is there a brand new 1/60 rule? Primarily based on quite a few knowledge factors, my understanding is that this isn’t a agency approval rule. There does appear to be a fraud detection in place whenever you apply for 2 playing cards inside 60 days which requires guide intervention. I imagine this subject is just whenever you apply for 2 of the identical playing cards (e.g. two AA playing cards), however not whenever you apply for 2 separate playing cards.
Max Laborious Pull Rule (6/6)?
Many individuals point out that Citi doesn’t approve candidates who’ve six laborious pulls on their credit score report inside the previous six months.
There’s not a complete lot of knowledge on the market on this rule, but it surely’s in all probability a generalization, not a agency rule. There’ll presumably be a tough pull if you happen to apply when you’ve got extra 6/6.
Since this rule tracks pulls, not playing cards, it’s a lot simpler to get round it by spreading your laborious pulls round varied credit score experiences. Most individuals are often underneath 6/6 since even when they do have six laborious pull, total, up to now six months, there can be a couple of pulls with every credit score bureau, not six with a single one.
Max Credit score
This isn’t a rule, however some folks point out having a tough time getting authorized for a card after they’ve a sure variety of playing cards, or, maybe, a certain quantity of total credit score restrict with Citi. That is in all probability true for lots of card issuers, and it’s one thing to bear in mind.
In case you have too many playing cards and excessive credit score limits, take into account proactively closing a few of them earlier than making use of. Or strive asking the credit score analyst to shut out one other card in an effort to get the brand new one authorized.
FAQ
1) You say that denials depend. What if I mistakenly utilized for a 3rd card inside 60 days. Does the 8/65 begin over or is the useless software rendered non-existent?
Flyertalk means that your clock in all probability resets anyway, as if it had been an actual software. Some knowledge factors affirm this as properly. (I did hear one knowledge level about a Citi enterprise card which would appear to recommend in any other case concerning the 90 day enterprise rule.)
2) Is a product change thought-about an software towards your 8/65?
Logically, it shouldn’t depend since it’s not an software.
3) In case you have a focused supply which doesn’t have the 24-month language, will it bypass the 8/65 rule?
No. It’s topic to eight/65 and it counts in opposition to future functions as a part of 8/65.
4) Any recommendation if can’t bear in mind the precise date I utilized?
You may determine it out out of your software quantity. The date is written 12 months/month/day within the software quantity. For instance, 201412150000 means you utilized on December 15, 2014. (Flyertalk)
5) Is there a simple option to depend up 8/65 with out including up the times on the calendar?
Do that.
6) Can I apply for a card I already must have two of the identical card?
You may often do this with private playing cards however not with enterprise playing cards. That does not imply you’ll get the bonus on the second card. Learn extra about that right here.
Different questions? Drop a remark beneath.
Different posts price studying about Citi playing cards: