This is to talk about some downgrade options for a Citi prestige card, talk about how to maximize the value for credit cards, how to get the most cash back and also how to travel for free, and the advantage and disadvantage for each card, and it depending on the circumstances.
How to apply for a Citibank Credit Card - Citi
When somebody flies for Citibank, the reef literally entered into our credits process.
We do the minimum checks on income, age and Australian residency, we then do a risk profiling which incorporates a call to the credit bureau, and on the basis of that information we make an assessment on the risk profile of a customer, and either accept the application subject to income and employment verification or we decline the application.
Once you've been accepted you will receive confirmation through the mail, and if you've requested a balance transfer at the time of application, we will immediately on the activation of the credit card which you will then call in to activate the card that you've received, we will then initiate the balance transfer process, and it'll typically take up to 10 days. So from the application within a couple of days, you should know whether you've been accepted or declined.
If you've been accepted and received your card in the mail, you will need to call up and activate it so that we know you've received it, and when we've had confirmation that you've received it and activated, we will then commence the process of the balance transfer, and that can take up to 10 days. It can take a lot quicker than that but generally speaking, it's all done within 10 days. Within that if we are able to verify your income and employment within a day, you might have your card within 5 days, you can then call up and we will activate you, will process Helen's transfer, and it could all be done within 15 days.
But there are parts of that process which are in the consumer's hands or the applicant's hands, where they may delay getting back to us, or where we've been trying to call their employer to verify income and employment and we can't get hold of them. So there are parts of the process that we don't have a lot of control over because it's either the applicant that's delaying getting back to us or their employer. So when if somebody applies for credit with Citibank, and we do an inquiry on their credit bureau, if that person is ultimately declined and we decided not to proceed with setting up that account all that's left on the bureau. Today is an inquiry, it doesn't actually capture whether the person was accepted or declined you.