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Established Contributor
Posts: 530
Registered: ‎07-28-2008
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APPROVED - GOOD NEWS DAY

Hey Guys:


I'm certainly in a better mood today. I'd like to share the good news.


Here are my 2 updates:


1) Bank of America restored my credit line to $6,800 after a CLD to $1,700.

2) CITI just approved my application for the Diamond Card. They only gave me a $2,600 CL to start but I'll take it. I heard this card will grow with you. Any truth to that?


So all in all, today is a good news day!


Uncle Money


Equifax Fico 785 as of 01/18/2012
Regular Contributor
Posts: 180
Registered: ‎05-01-2009
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Re: APPROVED - GOOD NEWS DAY

Congrats Uncle.  Well done on the cl restore.

 

Citi has usually been fine for online softs for cli.  Just stay on top of when they come up, etc.


Starting Score: TU 766 EQ 788
Current Score: TU 788 EQ 811
Goal Score: TU 800 EQ 800


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Moderator Emeritus
Posts: 16,374
Registered: ‎03-12-2007
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Re: APPROVED - GOOD NEWS DAY

Good work, Uncle Money!!!!!!!

 

I love to see people taking charge and not being a slave to banks and CCCs.:smileyhappy:

Credit Profile -
FICO 08 Scores (03-26-2015): EQ 814, EX 817, TU 822
All three scores were 850. Lost points for not having an open installment TL. So, BE WARNED!!!!!
Credit History: 26 years ~ AAoA: 13 years ~ Util: 1% ~ Inqs: EX 1, EQ 1

Credit Cards: Amex BCP ~ Amex Clear ~ Amex Platinum ~ Barclay Ring Mastercard ~ Chase Freedom Visa ~ CITI Dividend Platinum World Mastercard ~ FIA Fidelity Investment Platinum Visa ~ First Hawaiian Bank Gold Visa
Regular Contributor
Posts: 235
Registered: ‎02-14-2010
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Re: APPROVED - GOOD NEWS DAY

[ Edited ]

I wonder if CCC's decreasing CL when you already have a pretty high line comparatively is really such a big deal.  Let's say I have a card with a 3k limit and my average spend is roughly $700/mo.  and the bank decreases my limit to 1k.  This would still allow me to spend $700/mo. but I wouldn't because that would be a util. factor of 70%.  It would actually decrease me from using the CC.  But the bank sees this the opposite- that they are freeing up 2k in which they could use for interest bearing activities such as in investment banking or giving the 2k line to a consumer who actually uses the 2k.

 

Inadvertently this would cause consumers like UM to either close his account or spend a fraction of what he used to on the CC.

 

It used to be before the credit crunch that high credit lines were seen as a sign of risk.

 

Just some thoughts IMHO.

 

Anyways congratulations to Uncle Money.


TU Fico 736 EQ Fico 730 (December 2012)
Frequent Contributor
Posts: 268
Registered: ‎01-23-2009
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Re: APPROVED - GOOD NEWS DAY

[ Edited ]

From a previous thread you mentioned you had a high income.  I just can't understand why Citi Diamond would give you such a low CL.  By the way I have heard it referred to as Citi Diamond Preferred card. Is that what you have, or are Citi Diamond and Citi Diamond Preferred card two different cards (i.e. 1 is premium and 1 is regular)?

Established Contributor
Posts: 530
Registered: ‎07-28-2008
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Re: APPROVED - GOOD NEWS DAY

The card I was approved for is the Citi® Diamond Preferred® Card.

 

I'm assuming this is the premium card?

 

I was going to call in and request a higher line right away but I'll just give it some history first and then request an increase.

 

UM

Equifax Fico 785 as of 01/18/2012
Established Contributor
Posts: 530
Registered: ‎07-28-2008
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Re: APPROVED - GOOD NEWS DAY

Thank you everyone!

 

We'll see how CITI treats me.

 

Uncle Money

Equifax Fico 785 as of 01/18/2012
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