What credit score do you need to get the CitiBusiness / AAdvantage Platinum Select Mastercard?
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The CitiBusiness® / AAdvantage® Platinum Select® Mastercard® is the card I’ve added to my wallet most recently. If you’re also considering applying for it, you may be uncertain whether you have a high enough credit score to be approved. Let’s look at what it takes to get approved for this small-business rewards credit card.
The information for the CitiBusiness AAdvantage Platinum card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Credit score required for the CitiBusiness / AAdvantage Platinum Select
Although the CitiBusiness / AAdvantage Platinum Select is a small-business credit card, your personal credit score will be considered during the application process. Some issuers also check your business credit score during the application process, if your business has a credit history.
Citi doesn’t publish specific credit scores that are needed to be approved for the CitiBusiness / AAdvantage Platinum Select. After all, your credit score is just one of many factors that Citi will take into account when deciding whether to approve your application. But you’ll generally need an excellent credit score of at least 760 to be approved for a rewards credit card. It is, however, possible to get approved with a lower score depending on your specific application details.
Related reading: Best business credit cards of 2020
Who should get the CitiBusiness / AAdvantage Platinum Select?
The CitiBusiness / AAdvantage Platinum Select is a solid card if you want extra perks when flying American Airlines. As a cardholder, you’ll get the first checked bag free on American Airlines domestic itineraries for you and up to four companions traveling on the same reservation. The $99 annual fee is waived the first year, but in subsequent years it’s easy to justify the annual fee if you check at least four bags a year.
The card is currently offering a sizeable 65,000-mile sign-up bonus after you spend $4,000 on purchases within the first four months of account opening. You earn 2x AAdvantage miles on eligible American Airlines purchases, as well as spending with telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations. All other purchases earn 1x miles.
Related reading: CitiBusiness / AAdvantage Platinum Select card review
How many card accounts can I have open?
Citi doesn’t seem to limit the overall number of credit cards you can have open. However, one TPG writer was denied for the CitiBusiness / AAdvantage Platinum Select in January 2018 on the basis that he had reached the “maximum number of Citi credit cards.” It’s unclear if that was based on the number of Citi cards he had open at the time of his application (seven) or if it was based on the number of cards he had opened with the issuer across his entire lifetime.
Citi also seems to have a maximum credit line that it may extend across all of your Citi cards, though. So, if you have at least one other small-business credit card with Citi and aren’t approved for a new card, you may want to call Citi’s reconsideration line to see if shifting some credit from one of your current small-business cards will allow you to open the new card.
Related reading: How many credit cards should I have?
Who is eligible for a sign-up bonus?
The card application notes that “American Airlines AAdvantage® bonus miles are not available if you have received a new account bonus for a CitiBusiness® / AAdvantage® Platinum Select® account in the past 48 months.” So, if you’ve received a sign-up bonus for this card in the last four years, you won’t be eligible to earn another bonus at this time.
Related reading: Earning another AAdvantage card sign-up bonus: What you need to know
Do I need a business to get a business credit card?
Yes, you do need a business to get a business credit card, but many types of small businesses can be eligible, including some work that you may not have previously considered. For example, selling items online, providing music lessons, tutoring children, freelance jobs or managing a rental property can all make you eligible for a business credit card.
You don’t have to have a registered business to apply for a business credit card. You can select “sole proprietor” as the type of business when filling out the application, enter your name as the business name and enter your Social Security number as your tax ID number.
How to check your credit score
There are many ways to check your consumer credit score for free. For example, many credit cards let you check your FICO score for no charge. It’s a good idea to track your score’s progress over time, especially if you’re looking to improve your credit score. You can also check your business credit score, but you’ll usually need to pay to see your actual score or a full credit report.
It’s important to realize that you don’t just have one credit score. Instead, there are different calculation methods and credit reporting agencies. Your business and personal credit scores will vary based on the calculation method and credit reporting agency that is used.
Factors that affect your credit score
Once you know your credit score range, you may be wondering what factors affect your credit score. Let’s focus on your personal credit score, since we know that Citi will consider this score for all applicants of the CitiBusiness / AAdvantage Platinum Select.
There are a few formulas for calculating your credit score, but none of the exact calculations are public. Nonetheless, FICO is relatively transparent about the different factors they assess and how much weight each is given:
- Payment history (35%): Whether you’ve paid past credit accounts on time.
- Amounts owed (30%): The relative size of your current debt and the ratio of your current debt to your available credit.
- Length of credit history (15%): How long your credit accounts have been established (including the age of your oldest account, the age of your newest account and an average age of all your accounts), how long certain credit accounts have been established and how long it has been since you used certain accounts.
- New credit (10%): How many new accounts you have opened recently.
- Credit mix (10%): How many different types of credit accounts you have, such credit cards, retail accounts, installment loans, finance company accounts and mortgage loans.
What to do if you get rejected
If your application is rejected, you’ll get a letter in the mail that states why Citi turned you down. Depending on the reasons, you may want to use this information to improve your credit score before applying again. Or, if you believe you can provide additional information that might lead to approval of your application, you can call Citi’s reconsideration line to make your case.
If you call the reconsideration line, be prepared to answer questions about your business and present a compelling argument for why Citi should approve your application.
Related reading: How bad is it to get denied for a credit card?
How long to wait before applying again
It’s best to avoid applying again until you’ve addressed the reasons Citi gave for rejecting you. But, if you want to apply again or apply for a different Citi card, the consensus about applying for Citi credit cards is that you can only apply for one card (personal or business) every eight days, no more than two cards in a 65-day window and no more than one business card in a 90-day window.
How much are American Airlines AAdvantage miles worth?
In The Points Guy’s most recent valuations, he pegs the value of American Airlines miles at 1.4 cents each. This means that 12,500 miles — the normal MileSAAver cost for domestic flights — are worth $175.
Related reading: How (and why) to calculate award redemption values
Which American Airlines credit card is the best?
There are numerous cobranded American Airlines credit cards available, as well as others that are no longer accepting applications. The best American Airlines card for you will depend on what you’re looking to get out of the card. Here are some cards to consider for certain perks:
- Lounge access when flying American Airlines: Citi® / AAdvantage® Executive World Elite™ Mastercard®, which provides full membership access privileges to Admirals Club lounges for the primary cardholder and access privileges to American Airlines Admirals Club lounges for authorized users.
- A consumer card that provides the first checked bag free on domestic flights: Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard® or AAdvantage® Aviator® Red World Elite Mastercard®, both of which provide this benefit to the primary cardholder and up to four companions traveling on the same reservation.
- A business card that provides the first checked bag free on domestic flights: CitiBusiness / AAdvantage Platinum Select® Mastercard or AAdvantage® Aviator® Business Mastercard, both of which provide this benefit to the primary cardholder and up to four companions traveling on the same reservation.
The information for the Citi AAdvantage Platinum card, AAdvantage Aviator Red and AAdvantage Aviator Business has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Plus, all U.S.-issued Citi/AAdvantage and AAdvantage Aviator cards are currently eligible for a special promotion. Through this promotion, every dollar spent on net purchases that post between May 2020 and December 2020 will count toward your Million Miler balance. This means you can use these cards to earn lifetime elite status with American Airlines.
Apply here for the CitiBusiness / AAdvantage Platinum Select Mastercard
Featured photo by John Gribben for The Points Guy.
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