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Valued Member
Posts: 39
Registered: ‎06-24-2017
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Citi reallocate & close

Anyone know if Citi allows the entire credit limit to be moved when closing an account, and if not, how much has to stay on the closing account? Or is this a ymmv situation? (I know they hard pull for reallocations, but I really want to get rid of my redundant account.)

Established Contributor
Posts: 852
Registered: ‎06-02-2016

Re: Citi reallocate & close

[ Edited ]

I just closed my Slate and reallocated funds to my FU. The account you want to close must have 0 activity for 2 statements before they reallocate the entire amount. If not, $500 must remain on the card you want to transfer from. Also, which surprised me, Chase did a SP to determine whether they would reallocate. This surprised me.

 

EDIT

OOPS just noticed the question was about Citi, not Chase. Sorry about that 😬  


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Re: Citi reallocate & close


halstend wrote:

Anyone know if Citi allows the entire credit limit to be moved when closing an account, and if not, how much has to stay on the closing account? Or is this a ymmv situation? (I know they hard pull for reallocations, but I really want to get rid of my redundant account.)


It's a YMMV situation.  Some CSRs will tell you that they won't even reallocate limits so you need to get to a credit manager.  As youre aware they treat it as a credit increase, thus the HP.  Therefore, a lot has to do with how much more (on a single card) limit that they are willing to give you.  Usually, from what I've read, they require $500-$1K to remain on closed out card.  If you call, let us know the results.

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Re: Citi reallocate & close


halstend wrote:

Anyone know if Citi allows the entire credit limit to be moved when closing an account, and if not, how much has to stay on the closing account? Or is this a ymmv situation? (I know they hard pull for reallocations, but I really want to get rid of my redundant account.)


http://ficoforums.myfico.com/t5/Credit-Cards/Citi-Credit-Limit-Reallocation-Help/m-p/4844682#M141302...


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Posts: 39
Registered: ‎06-24-2017
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Re: Citi reallocate & close

In case it helps as a data point: They let me move $10.5k from an $11k card to a $12.5k card. So now I have one $23k card. Both had $0 bal and almost no use in the past 3 months or so.

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