I'm new to this awesome site--I was hoping someone would share their good or bad experience with CitiBank as I am considering an application with them. That darn 2.9 balance transfer is almost too tempting!
The balance transfer rate is great. I transferred 8K to citibank at this rate and I'm paying about $20 a month in interest on it! I will have it paid off before the intro. period ends. HINT: do not request balance transfers on the application if you intend to pay more than one creditor because there is a 3% fee for each one with a $29 top. Instead, call customer service after your account is set up and request one check payable to you for the entire amount so that you can pay each creditor yourself. This way you will have one $29 fee instead of multiple fees. The rep. actually suggested this to me to save money! It would be a good idea not to use the card for any other purpose until the balance transfer is paid off because your payments will be applied first to the balance transfer while other charges rack up interest for months at standard rates. This will dilute the benefit of the 2.9 rate. The credit lines are generous as noted by others on this board. In the past four months, I'v gotten the plat. select at 6K, the ATT Universal (a citibank subsidiary)at 5K and just got approved for the AAdvantage gold at 10,500. I use the plat. and ATT only for the transfers and the Aadvantage will be for current expenses to earn mileage. Citibank is highly rated by its customers with a few exceptions here and there. See some of the reviews at epinions.com and creditcardfreedom.com.
Elizabeth: I was looking at an ad that I saw in an insert in last Sunday's paper; the ad pointed to a Platinum Select with the 2.9% balance transfer. Maybe a good deal. Customer serv. 1-800-654-4731.
Citibank is pretty cool. When I got behind, they dropped the interest rate to 8% (because I went through credit counseling) with no annual fees. After I paid them off, they approved me for a $9K card the next month.
