Citibank Business Credit Card: How to Get $50k in Credit Card Funding?
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Let’s explore a few facts about the Citibank business cards.
If it difficult to get a Citibank business credit card?
You will need excellent credit to secure either of the Citi business credit cards.
Are Citibank Business credit cards worth it?
Citi doesn’t issue a lot of business cards but the Costco Anywhere Business card and the AAdvantage Platinum Select World Elite card can add value to specific businesses.
If your business shops a lot at Costco, having the Costco Anywhere Business card can compliment your membership. You’ll be able to get the best deals on your purchases, earn rewards with a premium membership, and earn additional cash-back rewards for charges made on the card.
If your business travel involves loyalty to American Airlines, you’ll benefit from the AAdvantage Platinum Select World Elite card. Airline perks like a free checked bag, priority boarding, and earning double miles can all be beneficial for traveling with the airline.
How to choose the best Citibank business card?
Citi doesn’t have as many small business credit cards as other providers, so it shouldn’t be hard to choose between them. Consider the rewards you’ll receive and whether you can take advantage of them.
- Do you often fly with American Airlines? You can earn rewards on American Airlines and their Oneworld Alliance partners with the CitiBusiness® / AAdvantage® Platinum Select® Mastercard®.
- Does your business spend mostly on gas, dining, travel and Costco purchases? In this case, the Costco Anywhere Visa® Business Card is the way to go.
Which Citi card is best for beginners?
If you’re new to credit, you’re not likely to get approved for a premium card offering rich rewards and lavish perks. Your best bet is to work toward building a stronger credit profile using a card that reports to all three credit bureaus. The Citi® Secured Mastercard® might be a good fit for this purpose. It carries no annual fee and has a minimum required security deposit of $200 up to a $2,500 maximum.
If you’re looking to get started with a rewards card for the first time, consider the Citi® Double Cash Card. It earns a straightforward 2% cash back—1% when you make a purchase and another 1% when you pay your bill. There are no categories to track or spending caps and there’s no annual fee.
How long does it take to get approved for a Citi credit card?
The amount of time it takes to get approved for a Citi credit card partially depends on which card you apply for, your personal credit history and other factors the issuer will take into account such as your income and existing debt levels.
For someone with pristine credit, they could apply online and get an answer in as little as 30 seconds. For others it could take anywhere from seven to 10 days after applying to get an answer.
For example, someone with a score on the border of good to very good applying for a premium card, like the Citi Prestige® Card, the issuer may want to consider your bigger financial picture outside of your credit score. And, even when you get approved for a secured card, like the Citi Secured Mastercard, your account technically won’t be open until Citi receives your security deposit.
What credit score do I need for a Citibank credit card?
Usually, You’d need a good credit score for a Citi credit card in most cases. So you’ll have a shot with a credit score of 660+, and your odds will be good with 700+. But it really depends on which card you’re after. Some Citi credit cards require higher scores, and one has no minimum score at all.
If you’re looking to build business credit with a Citibank Business Credit Card then you’d need to start a relation with them.
I would encourage you to open a personal and a business bank account with them, first.
The more products you have with them the higher your chances are to be approved for their Citi business cards.
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