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Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008

Citi BT Dilemma

I have a Citi Platinum Card I opened in July.  The CL is $4000.  I have a 0% BT offer that I can use by 4/2010.  I am wanting to xfer my last $5000 car loan balance to the card.   Is it likely for me to get a significant CLI by 12/09? 
Regular Contributor
johnson_long
Posts: 163
Registered: ‎08-27-2008

Re: Citi BT Dilemma

You may not get any luv from Citi,  I got a Diamond Preffered last October with a 6,800 limit, Wednesday I hit the luv button asking for a 3200 CLI,,,  Citi DENIED my request citing "too many new accounts" !!??

 

 

This morning I got an Experain alert telling me  Citi pulled a HARD on Experian for my effort,  

 

Thanks Citi !!!

 

I quite wrongly assumed that would be a soft??   I got a 2,500 CLI from Penfed last month and it didn't cost me a hard hit ,,, 

 

YMMV ,,,

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008

Re: Citi BT Dilemma

[ Edited ]

johnson_long wrote:

You may not get any luv from Citi,  I got a Diamond Preffered last October with a 6,800 limit, Wednesday I hit the luv button asking for a 3200 CLI,,,  Citi DENIED my request citing "too many new accounts" !!??

 

 

This morning I got an Experain alert telling me  Citi pulled a HARD on Experian for my effort,  

 

Thanks Citi !!!

 

I quite wrongly assumed that would be a soft??   I got a 2,500 CLI from Penfed last month and it didn't cost me a hard hit ,,, 

 

YMMV ,,,


If you get a form to fill out when you request a CLI it may cause you  a hard pull.  

Message Edited by DI on 10-02-2009 10:56 AM
Message Edited by DI on 10-02-2009 10:56 AM
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Citi BT Dilemma

In general I do not think that moving balances from installment to revolving is a good idea. You want move balances from revolving to installment.

 

In this credit climate increasing your revolving UTIL to save a few dollars finance charge on a secured installment loan is potential credit suicide. If I had a lot of recent credit app's and new accounts I certainly wouldn't make this move!

Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Citi BT Dilemma


DI wrote:
I have a Citi Platinum Card I opened in July.  The CL is $4000.  I have a 0% BT offer that I can use by 4/2010.  I am wanting to xfer my last $5000 car loan balance to the card.   Is it likely for me to get a significant CLI by 12/09? 

Most likely not. I did not get a luv button CLI until six months plus and when I did it was around 25%. Expect increasing CL stickiness from Citi - they have to reduce their CL exposure.

Super Contributor
DI
Posts: 5,767
Registered: ‎01-28-2008

Re: Citi BT Dilemma

Thanks.  I've been contemplating since July to make the BT. I more than likely won't do it for the reasons mentioned by
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007

Re: Citi BT Dilemma

Sometimes the best thing you can do is read a book.

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