Citi Personal Loan Plus=Velocity.

[billmurray]

I made manual payments using BSB and Account Numbers.

Did you pay off a large % initially and hold back a very small amount the the entire length of the loan?

My statement is due on 5th Nov, and from the 2k loan Citi issued im aiming to pay back approx 1.8k immediately. Then do i pay off the remaining $200 once i have the VFF points or pay back like $50/100 a month until points are received?

 

[Mr H]

Did you pay off a large % initially and hold back a very small amount the the entire length of the loan?

My statement is due on 5th Nov, and from the 2k loan Citi issued im aiming to pay back approx 1.8k immediately. Then do i pay off the remaining $200 once i have the VFF points or pay back like $50/100 a month until points are received?

Yes.

Are you sure you qualify for the bonus points? I thought the qualification had been increased to a $10k loan, not reduced to a $2k loan.

 

[billmurray]

Yes.

Are you sure you qualify for the bonus points? I thought the qualification had been increased to a $10k loan, not reduced to a $2k loan.

I applied many many weeks ago, the inital offering is a 5k loan, then it went down to 2k, now its up to 10k.

 

[blacksultan]

I was knocked back for this offer 6 weeks ago . I then had the Citi virgin card which I have now closed . Have also now closed a 15 k Anz card .
Is it advisable to reapply before 30 Nov or am I likely to get rejected again ?
Also was holding the 6 k citi virgin flyer card then beneficial or harmful ? Has closing it now harmed my chances further ?

 

[Mr H]

I was knocked back for this offer 6 weeks ago . I then had the Citi virgin card which I have now closed . Have also now closed a 15 k Anz card .
Is it advisable to reapply before 30 Nov or am I likely to get rejected again ?
Also was holding the 6 k citi virgin flyer card then beneficial or harmful ? Has closing it now harmed my chances further ?

Nobody knows for sure.

In previous conversations with two banks, I was led to believe it was the overall level of credit you hold that makes the difference. So closing a card will help, not hinder. But it can take some weeks for a card closure to show through on credit reports. I work on the basis that I get awkward questions with a third card and when my overall credit would go above $20-25k.

 

[yojohnny]

I assume these isn't a website I can use to manage the loan and must use "the app"? I despise this app bollocks.

 

[Mr H]

I assume these isn't a website I can use to manage the loan and must use "the app"? I despise this app bollocks.

It’s 150,000 velocity points for very little money. I think you can probably hold your nose and use the app.

 

[yojohnny]

It’s 150,000 velocity points for very little money. I think you can probably hold your nose and use the app.

:\

 

[tirtytree]

Is the establishment fee automatically taken at the same time as the fixed repayments or is there a separate manual payment required?

 

[Ozymandias]

Is the establishment fee automatically taken at the same time as the fixed repayments or is there a separate manual payment required?

My first minimum payment (about a week after the loan was funded) was the $199 establishment fee.

 

[jamdav93]

Just got the email requesting my velocity number. Let's see how long it takes!

 

[Ozymandias]

Just got the email requesting my velocity number. Let's see how long it takes!

Me too - pleasantly surprised at the speed given how long everything else has taken, only a week since my loan was funded.

 

[billmurray]

Just got the email requesting my velocity number. Let's see how long it takes!

I too just got this email. This is my timeline so far;

16th Sept - applied for 2k loan
1st Oct - approved
18th Oct - card arrived & activated
24th Oct - transferred back $1,800 to Citibank
2nd Nov - email from citi requesting VFF number.

 

[SydneySwan]

Applied 22 August, approved 8 September, finally got email requesting Velocity number 15 minutes ago!

 

[kerfuffle]

My first minimum payment (about a week after the loan was funded) was the $199 establishment fee.

Same here. Have about half the loan amount outstanding as I don't need the other half until later and can redraw when needed.

Just got the email requesting my velocity number. Let's see how long it takes!

Same here. My timeline:
20/9: applied
26/9: approved
3/10: activated
2/11: request for Velocity number

 

[renatts]

Same. So far so good

30/09 Applied
04/10 Approved
10/10 Activated
02/11 Velocity number requested

Here's hoping the points don't take too long.

 

[Jonova]

Got my email today too, applied 20th Sept approved on the 24th Sept

Appears they are sending out the email in batches

 

[blacksultan]

Got my email today too, applied 20th Sept approved on the 24th Sept

Appears they are sending out the email in batches

Got my email today as well .

 

[FishFood]

I'm curious how some people mentioned a card, is that a required part of the interaction or can it all be done online?

I'm overseas at the moment so it is difficult for me to receive mail

 

[Mr H]

I'm curious how some people mentioned a card, is that a required part of the interaction or can it all be done online?

I'm overseas at the moment so it is difficult for me to receive mail

You have to be able to receive the card and activate it. This triggers the draw down of funds. Once that is done, you will never need the card again unless you choose to use if for purchases.