'Open' limit on Citicard and how that factors into overall util

[iamrayl]

I have a card from Citi, on my account it is listed with a 3K credit limit.  I pulled my credit reports and noticed that Citi does not report the limit to any of the credit bureaus just the balance.  I contacted Citi about this and they explained that the card that I have doesn't have a limit that I can charge as much as I want on it even over 3K and once it is paid off, there are no over the limit fees.  So I asked them if I could change to a card with a limit and they told me I would have to close this one and reapply.  Now my question is, does anyone know how these card factor into the overall revolving utility if no credit limit is being reported?

[Anonymous]

Sounds like your card will report much like an Amex charge card, which is tricky. They tend to report high balances, and CBs will use your high balance as a surrogate for your CL.

In theory, the only way to get this card to work for you credit-score wise is to charge a huge amount one month and carry the balance until the card reports to the bureaus. Be sure the pay the amount off in full after it has been reported. This new high balance will be used as a theoretical CL by the scoring systems.

Keep in mind that your FICO score will likely take a hit on the month that the high balance is reported, since this move will theoretically set your utilization % on this card at 100. The score should recover very quickly subsequently if you return to a low utilization % by paying the card off pronto.

[Anonymous]

Which Citi card do you have?  Is it one of their AAdvantage cards?

[Anonymous]

really just depends if it's coded as a true charge card vs credit. amex charge cards don't effect uti cause they are pif, some sig cards aren't and they will skew uti. calculate you uti and see if that's what it's being scored at then you'll know if it's hurting or not.

[iamrayl]

Yes it's an AAadvantage card.

[Anonymous]

Several months ago, members were able to convert their no pre-set spending limit AAdvantage cards to the the Citi Bronze or Gold AAdvantage cards, which did report a credit limit.  However, Citi has since changed the Bronze and Gold versions, and they also have no pre-set spending limits.  

I have a Citi Dividend Platinum Select MC.  I just called Citi and asked if I could convert the card to an AAdvantage card, and the rep said I could.  I then asked her if I was unhappy with the AAdvantage card if I could convert it to a different Citi card, and she replied "yes."  She told me that the only problem that I'd have when I converted cards would be that I'd lose the rewards points that I've  earned.  I'd call back Citi, and ask a different customer service representative about changing your card!

Let us know what happens!

[ficonovice]

Six months ago I converted the PremierPass (no pre-set limit) to the Diamond Preferred card w/o any problems. I know many people here did the same thing...

Message Edited by ficonovice on 06-06-2008 04:59 PM

[smallfry]

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@ficonovice wrote:

Six months ago I converted the PremierPass (no pre-set limit) to the Diamond Preferred card w/o any problems. I know many people here did the same thing...

Message Edited by ficonovice on 06-06-2008 04:59 PM

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Still works as far as I know.