I just received two emails from Citi regarding the two applications I sent in earlier in the weekend, and both were approved. That's cool. Both will be quite lucrative. The first was the Citi CashReturns card, which means another 3 months of 5% cash back on all purchases. I place my parents as authorized users of this card, and between the two households putting all purchases on this card for 90 days, I'll make $150-200 per month. After that, I'll sock drawer it since there are no BT offers associated with the card and it is only 1% cash back after the first 3 months.
The second approval was for the Citi Professional card with Thank You points. 15,000 points after the first purchase means $150 in gift cards which I can sell or use. The real money maker, though, is the 0% BT offer with no fee. I only got a credit line for 1K, but I'll pull over around 25K from another card and get some good cash flow for the next 12 months.
This weekend we applied for eight credit cards and so far have been approved for both Citi Professionals, Orchard Bank, Discover, SonyCard, and the Citi CashReturns. We're still waiting to hear about the AMEX Business Gold Rewards and the Bank of America cards, but 6 out of 8 so far is better than expected.
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