I Called And Asked Citi to reconsider their harsh action

[smallfry]

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@Watchmann wrote:
This is the crazy part of the financial world in which we now live.  Why does a mortal reading these boards need $300k of unsecured credit?  It's great that you have it, congratulations, but a sane financial system would say that is far too much credit available.  One institution wouldn't grant you that much as it would be too much risk for them.  Unfortunately, the system has believed that as long as it is spread around it is ok.  As we have seen the system is fragile and once one domino falls there are others that may follow.  I wouldn't have fought that much to get back what they took away.  In the scheme of things it wasn't that great of a hit, it wouldn't have affected your ability to borrow at the lowest rates available.

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No one is talking 300K here. Once one creditor hits your available who's to say it won't cause all of them to do the same? AA can also bring about rate jacks. They have a right to do whatever they want. I have a right to make sure they don't see a penny of action from me. Customers appreciate loyalty. How about removing wasted inquiries? LOL.

[plasticguy]

I have not opened a new account since Jan 2008, I have no plans to open anymore. I worked hard to reached 800 and I will not throw all of that away

[Anonymous]

Watchman,

Next thing you know AMEX is going to go after its long term customers with spotless history. I mean don't you think having a perfect credit report in this economy is a little too good to be true? To me it looks fishy - doctored almost. AMEX will want a financial review to confirm it. Personally I think the safest bet is to pick up a 30 day late or two and hunker down until the year 2017.

[Anonymous]

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@haulingthescoreup wrote:
Well, that's something, anyway. Congrats.

I'm concentrating on huddling in my little credit trench, dodging bullets and crossing my fingers.

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Yeah. I'm using credit right now much like I would imagine Ozzy and Harriot would have used credit back in the day.

[rubaty]

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@Anonymous wrote:

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@haulingthescoreup wrote:
Well, that's something, anyway. Congrats.

I'm concentrating on huddling in my little credit trench, dodging bullets and crossing my fingers.

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Yeah. I'm using credit right now much like I would imagine Ozzy and Harriot would have used credit back in the day.

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You might think I'm crazy but I have slowly been using my CCs and I am now at 27% UTL. You might say I am curious if I will get caught with any CLDs.

[marty56]

These days, if I needed to revolve a balance I would go with a 0% store card. I would only revolve a Visa/MC balance for great need.

Think Visa/MC as a bridge to an auto loan/mortgage/0% store card.  Revolve a balance if you dont have a good emergency fund (Ineed to work on mine big time).

[jmbfl]

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@rubaty wrote:

You might think I'm crazy but I have slowly been using my CCs and I am now at 27% UTL. You might say I am curious if I will get caught with any CLDs.

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CLD or RJ is inevitable. Look at the score trend in your siggy! Is there something more than UTIL going on there?

Message Edited by jmbfl on 12-14-2008 01:09 PM

[jmbfl]

Credit card companies have to reduce the amount of extended credit lines on their books. The least painful way is to reduce very high unused credit lines down to a more reasonable level. In my mind CL's $5K and less are very safe - $5K to $10K pretty safe - anything over $10K is up for grabs. (Assuming no deteriorization of your credit profile.) If the CL is high and untouched it is in jeopardy.

[Anonymous]

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@jmbfl wrote:
Credit card companies have to reduce the amount of extended credit lines on their books. The least painful way is to reduce very high unused credit lines down to a more reasonable level. In my mind CL's $5K and less are very safe - $5K to $10K pretty safe - anything over $10K is up for grabs. (Assuming no deteriorization of your credit profile.) If the CL is high and untouched it is in jeopardy.

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Joy, there goes my util percentage and higher scores.