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Established Member
rratss
Posts: 18
Registered: ‎07-15-2008

Citi approved for only $2k... other CLs are $10-21k

seems like I keep getting screwed with low CLs every time I apply for a new card. Last time it was only $1k for Amex Starwood when my Blue Cash CL was $5k and Citi AAdvantage CL was $13.3k.

Now my Starwood CL is $6k, Blue Cash is $10k, Citi AAdvantage is $21k and Merrill+ is $20k

and Citi only granted me a measly $2k on their Diamond Preferred card which I applied for today.
I'm looking to take advantage of their 12 month 0% APR offer but can't do jack **bleep** with this CL!!!

they pulled Experian of course. 2 inqs in the past 6 months, 6 inqs in the past 12 months, oldest account is almost 5 yrs and newest account is 8 months. 12% util, no lates no baddies nothing but PERFECT HISTORY. and they give me a line equal to how much I earn in a week!!

So I'm just warning everyone who wants to apply for a Citibank card. It looks like their imminent bankruptcy has made them stingier than Discover and Amex.

I'll be calling for recon tomorrow and will post the results here.
Senior Contributor
score_building
Posts: 3,513
Registered: ‎01-10-2008

Re: Citi approved for only $2k... other CLs are $10-21k

time at current job and residence, etc may've also impacted the decision.  with 6 new accounts in a year i'd be ducking for cover from AA not apping for more accounts.

 

nonetheless, with clean reports and the right scores, recon. may be workable.  citi is very generous in my experience, they may be able to give you the cl you were looking for, gl.


rratss wrote:
seems like I keep getting screwed with low CLs every time I apply for a new card. Last time it was only $1k for Amex Starwood when my Blue Cash CL was $5k and Citi AAdvantage CL was $13.3k.

Now my Starwood CL is $6k, Blue Cash is $10k, Citi AAdvantage is $21k and Merrill+ is $20k

and Citi only granted me a measly $2k on their Diamond Preferred card which I applied for today.
I'm looking to take advantage of their 12 month 0% APR offer but can't do jack **bleep** with this CL!!!

they pulled Experian of course. 2 inqs in the past 6 months, 6 inqs in the past 12 months, oldest account is almost 5 yrs and newest account is 8 months. 12% util, no lates no baddies nothing but PERFECT HISTORY. and they give me a line equal to how much I earn in a week!!

So I'm just warning everyone who wants to apply for a Citibank card. It looks like their imminent bankruptcy has made them stingier than Discover and Amex.

I'll be calling for recon tomorrow and will post the results here.
FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Established Member
rratss
Posts: 18
Registered: ‎07-15-2008

Re: Citi approved for only $2k... other CLs are $10-21k


score_building wrote:

time at current job and residence, etc may've also impacted the decision.  with 6 new accounts in a year i'd be ducking for cover from AA not apping for more accounts.

 

nonetheless, with clean reports and the right scores, recon. may be workable.  citi is very generous in my experience, they may be able to give you the cl you were looking for, gl.


Those are 6 inquiries, not new accounts. I have 2 new accounts in the past year. The other 4 inquiries were from mortgage preapprovals (2 of them), an unsuccessful attempt at getting a LOC for a business idea I had, and another CC that I applied for on the same day (which hasn't reported as an account yet).

 

been at my job for 5 years, pay no mortgage since I live in my parents' house (for 11 yrs), household income is $200k ($90k is my share) and I work in a recession proof industry so that shouldn't be a problem. I'm always confused by these lenders and why they give $20k to people who revolve balances their entire lives but I'm stuck with nothing.

Regular Contributor
tunseeker1
Posts: 108
Registered: ‎04-06-2008

Re: Citi approved for only $2k... other CLs are $10-21k

[ Edited ]

I think you have a few things against you right now with citi.

 

Household income isn't the best when you are living with parents.

 

Age and living at home with no housing payments throws flags.

 

No job is recession proof.

 

Citi is broke and cutting limits everywhere. This also limits new accounts limits.

 

 

Also keep on the lookout for American Express to FR you.

Message Edited by tunseeker1 on 02-18-2009 06:49 AM
Valued Contributor
oracles
Posts: 1,699
Registered: ‎08-18-2007

Re: Citi approved for only $2k... other CLs are $10-21k


tunseeker1 wrote:

I think you have a few things against you right now with citi.

 

Household income isn't the best when you are living with parents.

 

Age and living at home with no housing payments throws flags.

 

No job is recession proof.

 

Citi is broke and cutting limits everywhere. This also limits new accounts limits.

 

 

Also keep on the lookout for American Express to FR you.

Message Edited by tunseeker1 on 02-18-2009 06:49 AM

 

I do understand where you are coming from, tunseeker, however i have to disagree with some points.

 

1- The HHI is actually very good. They do not know rratss is living at home with the parents.

2- Many people have very high scores, in the 800's and do not have a mortgage on their reports.

These things are not contributing factors to the low limit

 

3- i do agree however, because of the financial hardship citibank is going through, this is the reason for low limits of new accounts.

 

I think OP is in very good shape with their credit. Continue to do what you have been doing.

 

rratss- word of advice for you, if you needed this card for a BT, i would call and ask if they can move some of your limit from your other citi card to this card so you can take advantage of the BT.

 

I dont know if it can be done but it is worth a shot and call.

 

Hope this helps and keep us updated

Regular Contributor
itsjustmeibe
Posts: 204
Registered: ‎02-19-2008

Re: Citi approved for only $2k... other CLs are $10-21k

It may be that CITI is looking at overall credit availability. My BF just got approved last week with a whopping $7,500 limit. He has an Experian of 677 and his highest card limit was $750 crap one.
Established Contributor
Pappy214
Posts: 794
Registered: ‎08-05-2008

Re: Citi approved for only $2k... other CLs are $10-21k


rratss wrote:

So I'm just warning everyone who wants to apply for a Citibank card. It looks like their imminent bankruptcy has made them stingier than Discover and Amex.

I'll be calling for recon tomorrow and will post the results here.

Yes it has. They are very stingy at the moment, at least you got a card from them. I can actually get an AMEX (got a pre-approved green card offer a few weeks ago), but not a Citi. How's that for irony. Of course the way AMEX is hurting people I have not accepted their offer.  

____________________________________________________

"Evacuate, in our moment of triumph? I think you overestimate their chances."
Regular Contributor
barbaralee
Posts: 248
Registered: ‎03-13-2008

Re: Citi approved for only $2k... other CLs are $10-21k

[quote]

1- The HHI is actually very good. They do not know rratss is living at home with the parents.

2- Many people have very high scores, in the 800's and do not have a mortgage on their reports.[/quote]

 

I agree that it may not contribute to the low limit, but I thought a Citi app is one that asks whether you own, rent, or live with parents. 

Valued Contributor
oracles
Posts: 1,699
Registered: ‎08-18-2007

Re: Citi approved for only $2k... other CLs are $10-21k

Hi Barbara

 

I have 3 citi credit cards and I have never been asked but i guess it could be a possibility.

 

Moderator Emerita
LilMirth
Posts: 3,091
Registered: ‎08-09-2008

Re: Citi approved for only $2k... other CLs are $10-21k

I agree that the amount of credit that you currently have is likely to be a big factor. That, and your overall usage history on your other accounts. Lenders really seem to be making a concerted effort to move away from the days of sky high credit lines, and sky high overall available credit, disproportionate to a) the amount that you can realistically pay back, and b) disproportionate to the amount that you would realistically use, based upon your usage patterns. They don't want you to suddenly get the idea to start living outside of your means, keeping yourself afloat on credit until your source of income goes away.

 

Prior to the current credit crisis, I don't think that lenders (outside of for mortgage purposes) put that much weight into how much available credit you had with other lenders, or overall, as long as you were in good standing and not maxed out. Now that we're all realizing the fallout of too much credit vs. too little or no income, I think lenders are taking a second look, and proceeding more cautiously. Already, your available credit lines total more than half of your annual salary. It's all fine and well NOW. But, you have the potential to rack up more than 50k in debt. In the current economy, that's a recipe for disaster. And, your usage patterns may show that you're likely to not fully utilize a higher credit line. Banks don't want to take the risk, unless it's a good bet that they're going to see the returns.

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