Citi Ready Credit - 70k Velocity points with $500 balance transfer

I applied and got rejected, darn it! I wonder if its because i put $1000/mth for my share of expenses, all the while maxing up my Citi Prestige limit of 20k each month (with PayAll). 🫣
 
I would go for the Qantas one as I value Qantas points more than Velocity at the moment. The issue for me is adding the value of the credit facility to my total available credit for potentially a few months, making it harder to get additional churnable cards.
 
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I would go for the Qantas one as I value Qantas points more than Velocity at the moment. The issue for me is adding the value of the credit facility to my total available credit for potentially a few months, making it harder to get additional churnable cards.
Cool. I've moved my focus to VFF and finding it SO much easier to book reward seats. Just in the last month, I've been able to book SQ 2X J NRT-LAX, BNE-SIN-IST, and BNE-SIN-ICN for trips this Oct/Nov and May 2024. I've almost wiped out my VF points, so the 70K from this offer will be a nice boost.
 
Cool. I've moved my focus to VFF and finding it SO much easier to book reward seats. Just in the last month, I've been able to book SQ 2X J NRT-LAX, BNE-SIN-IST, and BNE-SIN-ICN for trips this Oct/Nov and May 2024. I've almost wiped out my VF points, so the 70K from this offer will be a nice boost.
I did value Velocity above QF before Covid, especially because of the ability to transfer to KF to book *A itineraries. Since then SQ no longer allows mixed SQ/*A awards and many more SQ routes have gone to Advantage only sector by sector making it way less attractive. I have never booked SQ directly with Velocity points.
 
Looks like you can apply for either, but I just applied for the 70K Velocity offer as you only need to transfer $500 instead of $5000 Citi Ready Credit - Velocity offer
Anyone successfully applied for this while maxing out their Citi Prestige 20k limit through PayAll? I wonder if i got rejected because i said on my application my expenses were only few k’s per month while they can see i maxed up 20k limit each month 😅
 
I’ve still got a 10k loan option from last ready credit offer, but at zero balance currently. I’m presuming that would still show up on a credit score, yes? As thinking of cancelling for that reason.
 
Similarly for flexibill offer on existing CC. Tempting $100 gift card offer but does it also show up on credit score? Not so sure about this one given that it’s based on credit card already applied for and approved.
 
FAQ - Am I ok to apply if I’m already a customer?
If you already have another Citi branded unsecured credit product you must hold this account in good standing for 6 months before applying for another lending product such as a Citi Ready Credit.

mmm not sure why they mention this..
 
Anyone successfully applied for this while maxing out their Citi Prestige 20k limit through PayAll? I wonder if i got rejected because i said on my application my expenses were only few k’s per month while they can see i maxed up 20k limit each month 😅
I got approved for Citi Prestige and got this current card approved while my PayAll was maxed out.
 
Don't think you need to borrow $5k - all you need to do is open an account, then do a balance transfer of at least $500 (which can be to yourself, I would note - I did a balance transfer to my mortgage via my Macquarie Bank account of the maximum I was approved for as the balance transfer rate of the promo I took up - 2.9% - was a lot less than my mortgage rate)...

So yes, the cost of 70k Velocity points could be as low as $199 plus about 4 months of interest on $1 at 4.9% p.a (a few cents, assuming you repay $499 of the $500 straight away noting you can't repay the whole balance until you've got the points), based on my experience in how long it took Citi to get me my Flybuys points...
Why do you need to keep it open for 4 months? Is this in the terms somewhere or is this how long it takes to get the points? thanks
 
Why do you need to keep it open for 4 months? Is this in the terms somewhere or is this how long it takes to get the points? thanks
You have to have an open and owing balance when the points are credited. Can take up to 4 months, and at least 2, from memory
 
You have to have an open and owing balance when the points are credited. Can take up to 4 months, and at least 2, from memory
Thanks. And that balance can be as low as $1? So transfer 500 out to my own bank, then transfer 499 back the next day and then wait for points?
 
You need to be careful that your automatic repayments do not close off the loan.
Thanks for the tip. Is there a way to manage this?

Can you set it up for no automatic repayment or do you need to say retain a balance owing of say 10 dollars and keep automatic repayments at 1 dollar per month? thanks
 
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