Citi Credit Card Promotions ZERO intro APR on purchases for 21 months or $100 gift certificate

Right now for my personal situation, I'm thinking of applying for a new credit card.  I really wasn't planning on it but some of my friends told me about some great deals going on.  I suppose its because interest rates are so low right now.  Anyways, when I looked into the deals I was a little blown away so I wanted to share with you the deals I'm considering.


From Citi there are 3 cards, I like best:




Citi Zero APR for 21 Months

Okay, 21 months for a 0% Intro APR period is unheard of for me.  Gosh when I was looking a before and credit was tight I was lucky to get 6 months.  Since, I've already had a  Platinum Select Card with them my only option would be the Simplicity card.  Remember you have to pay your minimum amount due on time or you will lose rate and get kick started into the high 16.99% rate.


Issue with Credit Ratings.  The thing about your credit score is its very personal to you and your own situation.  I've heard people say their keeping cards they don't use anymore because of the long term relationship helps their credit score.  I really have no idea what the impact would be.  But for me, I'd rather have access to a 0% intro APR period and use the freed up funds to invest or speed up my savings.  And if I had more preparation time, I'd close up my inactive cards a couple months before so that I'd have better chance of getting higher credit spending limit on the new card.


OR FREE $100 gift card

With the holidays coming up a $100 gift card, would enable me to buy a lot of retail gifts.  And it would probably be more than I could make with my funds in a high rate online bank account which pays about 1%.  But I strongly believe I could beat the $100 if I put my money in the stock market to invest.  The challenge for me would be charging $500 in 3 months.  I don't foresee any big purchases happening for me in the next couple of months, so I'd have to get my friends and family to help spend it for me.  Of course, I'd have to trust them to pay me back.


But if I were in the market for a big ticket item that doesn't really go on sale like any Apple product, this is an easy way to get back a $100 on your deal.


The other great thing about this card is for 12 months you get 5 points per $1 you spend at grocery and drug stores.  Which is like getting 5% in interest for your spending but instead of pure cash you get paid in gift card cash.


The other Con is that its a $100 gift card and not cash.  Citi does not have a statement credit reward and honestly last time I had a card with them their "Thank You Rewards" system was really confusing.


I'm only going to pick ONE card because putting a bunch of requests for cards at once will make it seem like your desperate for funds and likely lower your score with all the inquiries the companies will put into your credit.  And if I were really close to nailing down a mortgage I wouldn't chance it so close to my mortgage application.


**Also, if you don't have good credit.. Sorry but don't chance getting a denial which definately is a ding on your credit.



I'm going to be looking at some other Companies as well.. so more posts to come.

*** I just got notifed by Citi that my application was rejected for a Delinquent Account on my Experian Report!  Which is freaking ridiculous .. now I have to work with Experian to get a free credit report because of a denial .. so be extra careful when you apply 


On the plus, side I thought all my credit issues were resolved and now I know their not.