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New Visitor
bluebard
Posts: 2
Registered: ‎04-17-2007
0

CITI Hatred

CITI has just raised my interest rate to 29.99%, even though I've been a customer for 17 years and ALWAYS pay on time and more than the minimum. They wouldn't even consider lowering it. So I'm moving my small balance to another card, but I'm wondering if I can close CITI...? Probably a bad idea. I have a huge credit limit on it and it's my oldest card. But I truly hate them. And I don't want that credit limit just sitting there, for someone to potentially steal. Any opinions? Do you know how much of a hit (in points) I would take if I close?

 

Moderator Emeritus
MarineVietVet
Posts: 14,153
Registered: ‎07-14-2009
0

Re: CITI Hatred

 


bluebard wrote:

CITI has just raised my interest rate to 29.99%, even though I've been a customer for 17 years and ALWAYS pay on time and more than the minimum. They wouldn't even consider lowering it. So I'm moving my small balance to another card, but I'm wondering if I can close CITI...? Probably a bad idea. I have a huge credit limit on it and it's my oldest card. But I truly hate them. And I don't want that credit limit just sitting there, for someone to potentially steal. Any opinions? Do you know how much of a hit (in points) I would take if I close?

 


 

Hello and welcome.

 

Don't let emotion dictate what you do with this card. Citi jacked my rates several years ago from 7.9% to 25.99% and of course I was upset just like you are but I decided to play their game. I kept the account open and haven't paid them a penny in interest since then, Use the card every few months for a tiny purchase and then pay in full. There is no reason to lose a high credit limit.

 

If the balance is zero closing it will have no effect on your score. Here is a good thread talking about Closing Credit Cards.

 

 

 

From a BK years ago to:
EX - 9/09 pulled by lender 802
EQ - 7/06-663, 3/10-800
TU - 8/10-772
You can do the same thing with hard work


Valued Contributor
casinoannie97
Posts: 1,989
Registered: ‎08-17-2007
0

Re: CITI Hatred

+1

 

New Visitor
bluebard
Posts: 2
Registered: ‎04-17-2007
0

Re: CITI Hatred

Good advice, marinevietvet. I'll cool down a bit and string Citi along...  :smileywink:    Thanks!

Regular Contributor
jforsyth
Posts: 164
Registered: ‎05-01-2010
0

Re: CITI Hatred

How high of a balance did you have, how long did revolve the balance, and what is the CL on the card?

___________________________________

EQ FICO: 740 (09/04/11)
TU FAKO: 756 (06/07/12)
BankAmericard Cash Rewards | Amex Zync | Citi Forward
Regular Contributor
thebostonredsox
Posts: 148
Registered: ‎08-27-2008
0

Re: CITI Hatred

Which Citi card do you have? Why did they rate hike you? High util?

Senior Contributor
O6
Posts: 3,626
Registered: ‎10-13-2009
0

Re: CITI Hatred


bluebard wrote:

Good advice, marinevietvet. I'll cool down a bit and string Citi along...  :smileywink:    Thanks!


Yes, one key rule ... Don't get mad, get even.  :smileywink:

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