CLI is offered if BT offer is accepted ... Citi ... ( Pay for Luv ? )

[Uborrow-Upay]

Just got this in the mail, from Citi:

"Use the attached balance transfer checks to consolidate your bills and make managing your finances easier. Plus, your credit line may increase by up to $x,xxx if you take advantage of this special offer..." 

(The bolded type is as it appears on the letter, their emphasis, not mine).

The offer is for 0% 'til May 2010, or 1.99% until November, 2010.  3% transaction fee with either.

The potential CLI they offer represents up to 20% of the existing CL of this card.

Has anyone else gotten one of these?  I've never seen a CLI offer tied into the acceptance of a balance transfer offer.

I have no intention of accepting this offer, but it seems as if the amount of CLI might depend on the amount of the BT (and associated transaction fee).

A new trend, perhaps?  ...  Pay for Luv? 

[bmagnant]

"Use the attached balance transfer checks to consolidate your bills and make managing your finances easier. Plus, your credit line may increase by up to $x,xxx if you take advantage of this special offer..."  

That's funny ... Of course your credit line MAY increase if you stick your finger up your nose!

Brent 

[Anonymous]

About 10-14 years ago, I received similar offers from AMEX.

This is also not a new practice for Citi. On 11-03-2007, I wrote:

In yesterday's (11/02) mail, I received a Citi balance transfer offer (0% APR until May 1, 2008 OR 3.99% APR until transferred balances are paid in full) .  The offer states that "your credit line may increase by up to $4200 if you take advantage of this special offer."   

(http://ficoforums.myfico.com/fico/board/message?board.id=creditcard&message.id=17927#M17927)

[Uborrow-Upay]

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@bmagnant wrote:

That's funny ... Of course your credit line MAY increase if you stick your finger up your nose!

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LOL!

And thanks, psychic.  Hadn't seen that thread, but am I understanding it correctly that to actually get the entire offered increase, you'd have to max out your card to the new increased limit?  In other words, if I went 1k over my current limit, then my CL increase would be 1k, 2k over then 2k increase, etc.?   And you get no increase at all if the BT is under your current limit?

[Anonymous]

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@Uborrow-Upay wrote:

And thanks, psychic.  Hadn't seen that thread, but am I understanding it correctly that to actually get the entire offered increase, you'd have to max out your card to the new increased limit?  In other words, if I went 1k over my current limit, then my CL increase would be 1k, 2k over then 2k increase, etc.?   And you get no increase at all if the BT is under your current limit?

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I assume that is the logic.  I never tried it!!

[creditwherecreditisdue]

This is not the way to get a CLI. It is a way to transfer a large balance if you really had to. To me this is desperate. Why have you attracted this offer I wonder?

[Takunda1]

use this offer only if you need to. I waited 2 months. at first my offer was 3.99% for a yr, then the following month they changed it to 0% with the option of increasing CL to 8600, well this month , I checked the luv button and I was automatically approved for $8800. So no need to BT for CLI. Also the fine print does state if you accept the BT offer they have the right to review your credit and reevaluate any CLI you received the past 60 days, so make sure your Cr is clean.

[creditwherecreditisdue]

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@Takunda1 wrote:
use this offer only if you need to. I waited 2 months. at first my offer was 3.99% for a yr, then the following month they changed it to 0% with the option of increasing CL to 8600, well this month , I checked the luv button and I was automatically approved for $8800. So no need to BT for CLI. Also the fine print does state if you accept the BT offer they have the right to review your credit and reevaluate any CLI you received the past 60 days, so make sure your Cr is clean.

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This language is pretty standard. Hell, they can do it even if you don't take the BT offer!

[Uborrow-Upay]

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@Takunda1 wrote:
use this offer only if you need to. I waited 2 months. at first my offer was 3.99% for a yr, then the following month they changed it to 0% with the option of increasing CL to 8600, well this month , I checked the luv button and I was automatically approved for $8800. So no need to BT for CLI. Also the fine print does state if you accept the BT offer they have the right to review your credit and reevaluate any CLI you received the past 60 days, so make sure your Cr is clean.

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That's what I was hoping to hear!  (Just wait, and get the CLI anyways).  Thanks, Takunda1. 

Re: the luv button, I've got the one in the tools dropdown menu, I assume you're talking about the one that pops up to the right of the account balance info, etc. in the "special offers" section? I haven't seen that one since February (I think) or maybe March.  It's not there, the BT offer is, though.

CWCID, I don't know why I got this offer.  I've hardly used this card, and I rarely carry over a balance on any card.

Several months back, though, I did have two major purchases.  One went on this Citi card and was paid off by the following month.  The other card was paid off in two months (at 0%).   Perhaps Citi saw that one's balance on an AR and thought, maybe ...? I dunno.

Anyway, thanks for the replies, y'all!

[Takunda1]

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That's what I was hoping to hear!  (Just wait, and get the CLI anyways).  Thanks, Takunda1. 

Re: the luv button, I've got the one in the tools drop down menu, I assume you're talking about the one that pops up to the right of the account balance info, etc. In the "special offers" section? I haven't seen that one since February (I think) or maybe March.  It's not there, the BT offer is, though.

CWCID, I don't know why I got this offer.  I've hardly used this card, and I rarely carry over a balance on any card.

Several months back, though, I did have two major purchases.  One went on this Citi card and was paid off by the following month.  The other card was paid off in two months (at 0%).   Perhaps Citi saw that one's balance on an AR and thought, maybe ...? I dunno.

Anyway, thanks for the replies, y'all!

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Re: Luv button. I was talking about the one from the drop down menu. When you select it, one of two things will happen. Either you'll get the " we can offer you this much today with no inquiry" or you'll get the form that requires you to fill in some info. If you get the form, don't fill in anything as that will result in a hard inquiry. Just periodically check the CLI request tab from the drop down menu, until you see an offer you like.