ChessMaster1

I am thinking of opening a checking account and credit card with Citizens Bank. The checking account can be funded with a credit card (up to 1K) and the credit card ( Cashback Platinum MasterCard ) has the same rewards structure as Wells Fargo 5X (but the promotion is for only 90 days instead of 6 months). I am thinking of opening a checking account to build a relationship and to increase the chances of getting approve for the credit card with a high limit. I am planning to use this card like Wells Fargo 5X. I have many CVS and Walmart willing to help me use my 3 5X cards. If I get approved for this card, I will have 4 5X cards to use at CVS and all the other stores that gives 5X.

Does anyone have this card already or had it in the past? If yes, please discuss your experiences. I want to know how the Citizens Banks Cashback Platinum MasterCard stacks up with the Wells Fargo 5X or Amex Blue.

ibleed0range

Card blows. I make almost 6 figures and they wouldn't budge on a $500 CL. They also freeze your CL for days after your payment has already posted. It got to a point where I could only make a purchase every 10 days or so in the last month.

commdiver

I plan on applying for this card next month once my credit score rebounds from several applications. TD Bank also has a similar card, but it is good for 90 days, and the rewards post immediately (as opposed to after the statement closes).



That sounds awful. Their in-bank customer service is so good, so this really surprises me.

ChessMaster1

That sucks indeed! I was hoping to add this card to my 5X cards collection. How's your credit though? Did you have a relationship with them? I was planning to establish a relationship just like how I did it with Wells Fargo 5x to get a better limit. Also I was planning to use the checking to clear up the limit like how I do with Wells.

ChessMaster1

I wish I can get the TD Bank card ( I live in IL), seems better than Wells or Amex in regards to the posting of the rewards.

Doctor of Credit

Hard pull for the checking account. They also currently have a checking account promotion at the moment.

ibleed0range

I couldn't open checking out of state. You also are limited to 300$ in cashback per month. Anything more than that will rollover to the next month and believe rewards expire after 36 months. You could potentially max it out by collecting 300$ a month for 36 months.

They also send you a check separate from your statement. No way to redeem online. Cashback is in increments of $50

ChessMaster1

what if you apply for the card same day...will they pull 2 hards or use the 1 for the checking?

silver4300

My experience is similar to Ibleed and those on FW. They won't reset my CL until 10 days after payment clears - so you can only turn your CL 2-3 times per month. They also hold CL even if you have a checking account with them. The only way to get CL to reset faster is to pay with cash at their bank. Yet, I'm not comfortable carrying around stacks of 20s, so I just wait the 10 days.

Alcibiades

$300 cash back limit each month is lame

rogue409

Indeed. It's a limit on payout, not earnings, which is a little bit less lame. You could MS $216K in 3 months and get $300/month for the next 3 years. That will be difficult because Citizens takes a few days to release your CL. They will do lots of fraud alert calls while they learn your purchasing pattern.

The TD card is better. But it's always good to have of options.

silver6054

Also TD isn't drug store (but adds restaurants and phones I think to gas and supermarkets) which might be fine, I just am nearer CVS!

goblue77

TD was great. The only drawback was no drug stores. And the offer is for 6 months not 3.

ChessMaster1

groceries can be okay...if it is a visa. There are some stores that were coded as groceries that I did not expect or know with the Wells Fargo. I looked up how some merchants were coded in the VISA mcc codes and was pleasantly suprised.

mfFrom35K

This card works well with WM BP. The Credit Line actually clears faster with WM BP than payments on the bank's website. Payment posting exactly matches the schedule in the WM BP thread. The bank's website UI is a bit out of date and it seems to me the slow posting and clearing noted above is more of an IT issue than anything else.

I have been able to cycle thru the credit line twice in a week with WM BP on the Weekend and Wednesdays before 7 ET.