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Established Contributor
swpopham
Posts: 554
Registered: ‎06-02-2012
0

citi now holding payments! **bleep**! oh and a chase fail!

[ Edited ]

ive only had this card for a few months as most of you know. My first statement was 26xx dollars, second was 31xx dollars and this last statement was 1118.21 I always pay in full. well now they decided to place a payment hold on my accout. How is that for saying we trust you.... I don't like them already and this is their premier card too. That made me angry! so.... I said how about you double or triple my credit limit. Sir its against the law for us to raise or lower your credit limit within 6 months of account opening. No its not, yes it is, mam I have the law right here in front of me. Chase, NFCU, amex, gecrb all gave me increases at 30-60-90 day time frame. Well I dont know how the law applies to them but the law states citi cant do it. Can I speak to your manager? (on hold for 25+min I hung up) should I call back and tell them to close the card. or call back and get a manager on the phone?

 

I called up chase and said hey, citi is messing with me and you are our biggest credit card provider I want to open a freedom card for the 5% lowes that was just added. NO PROBLEM, sir the app was declined. No problem ill call UW, called them up and said hi, good afternoon, can you look at this for me. sure... Mr. Popham you have sufficent credit for your monthly spend.... I know but Im going to close citi out and move my lowes spending over here, okay let me look... nope you still have 10x the credit you use every month.... c'mon Im not taking 3 hard pulls for nothing, okay one min.... you can take credit off of one of your other cards... no thanks and NO I can't anyways, yes you can, are you sure? why wouldnt I be im a credit specialist, because our business, csp, jpm are joint cards me and my wife and this is an indvidual application...... oh damn your right. Well you still have enough credit, how about another year of history with us and call us back then we might extend more credit to you, after you use more of the credit you have,,,, mam I use 12-20k a month with you.... its still not enough to give you more credit k thanks call again... Bye....

 

Im not going to push the issue, ill tuck my tail between my legs on this one.

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
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LS2982
Posts: 15,436
Registered: ‎04-09-2011
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Re: citi now holding payments! **bleep**! oh and a chase fail!

Sounds like you make a good bit of money, do you have any AMEX accounts?? A charge card might be in your favor. Maybe the PRG.



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Valued Contributor
dddewdrop
Posts: 1,060
Registered: ‎02-06-2013
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Re: citi now holding payments! **bleep**! oh and a chase fail!

So you mean they wont let you make more purchases until you pay off what you owe? Is that how the payment hold works?

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TrishN
Posts: 505
Registered: ‎11-05-2012
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Re: citi now holding payments! **bleep**! oh and a chase fail!

some of lender they will hold your payment if you make more than 2 payment in a month

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Valued Contributor
navigatethis12
Posts: 1,954
Registered: ‎01-24-2012
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Re: citi now holding payments! **bleep**! oh and a chase fail!


dddewdrop wrote:

So you mean they wont let you make more purchases until you pay off what you owe? Is that how the payment hold works?


It means the available credit won't be reflected until they release the hold. If you have a 5000 limit with a 2000 balance, the 2000 won't be available until they release the hold. You can still charge on the card.

 

 

I don't see a problem with Citi. No one likes a payment being held but they do it to protect themselves in the event that the money is not actually there. You could offer to conference ring the bank and verify the payment cleared. I don't see it as a reason to close the account. While it may not be against the law, it is against Citi's policy to raise the limit before six months of history first. Other lenders' practices will not convince Citi to overlook that rule.

 

Closing out Citi has nothing to do with the amount of credit Chase will extend you. They care about how much they have given you, not other lenders. Why don't you just make the Freedom a joint application so you can move credit to get it?

Established Contributor
swpopham
Posts: 554
Registered: ‎06-02-2012
0

Re: citi now holding payments!! Oh and a chase fail!


navigatethis12 wrote:

dddewdrop wrote:

So you mean they wont let you make more purchases until you pay off what you owe? Is that how the payment hold works?


It means the available credit won't be reflected until they release the hold. If you have a 5000 limit with a 2000 balance, the 2000 won't be available until they release the hold. You can still charge on the card.

(That is exactly right, It hasn't affected me but why hold the 3rd pif statement payment? Why not the first? Or second?)

 

 

I don't see a problem with Citi. No one likes a payment being held but they do it to protect themselves in the event that the money is not actually there. You could offer to conference ring the bank and verify the payment cleared. I don't see it as a reason to close the account. While it may not be against the law, it is against Citi's policy to raise the limit before six months of history first. Other lenders' practices will not convince Citi to overlook that rule.

 (I know but this lady was a supervisor and trying to quote the new credit card act.)

 

Closing out Citi has nothing to do with the amount of credit Chase will extend you. They care about how much they have given you, not other lenders. Why don't you just make the Freedom a joint application so you can move credit to get it?

 

(Sometimes its fustrating because they say you have too much credit... But they always assign an account to the first person on the card. I told the lady our 100k line is our business. She said yes but you have access too it. I said mam, how would you feel if someone denied you credit because Chase is 100 billion in debt.... Or has a 1 trillion dollar credit line. THAT'S NOT THE SAME, yes it is mam, I work for Bluewave Audio i just happen to own it, the same way you work for chase.  When she was looking over my credit report she said what's the 71k loan, (my truck) who needs a 70k truck? I was been sly when I said witch one? Mine or the wife's? (she seemed to be a very low income person) she was offended that we had a nice truck. It was very weird hearing a credit analyst criticize me having them. It felt very unprofessional.

 

sorry for spelling


 

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Established Contributor
swpopham
Posts: 554
Registered: ‎06-02-2012
0

Re: citi now holding payments! **bleep**! oh and a chase fail!


LS2982 wrote:
Sounds like you make a good bit of money, do you have any AMEX accounts?? A charge card might be in your favor. Maybe the PRG.

got one and use the heck out of it.

"As long as the music is playing, you've got to get up and dance," he said. "We're still dancing."---Prince CEO Citi Bank

"Money isn't the most important thing in life, but it's reasonably close to oxygen on the "gotta have it" scale". ~Zig Ziglar
Frequent Contributor
GMCSierraDenali
Posts: 252
Registered: ‎02-19-2013
0

Re: citi now holding payments! **bleep**! oh and a chase fail!

This has nothing to do with your thread but what kind of truck do you have ?
      

      

Valued Contributor
navigatethis12
Posts: 1,954
Registered: ‎01-24-2012
0

Re: citi now holding payments!! Oh and a chase fail!


swpopham wrote:


(That is exactly right, It hasn't affected me but why hold the 3rd pif statement payment? Why not the first? Or second?)

 

 

 

 (I know but this lady was a supervisor and trying to quote the new credit card act.)


 

(Sometimes its fustrating because they say you have too much credit... But they always assign an account to the first person on the card. I told the lady our 100k line is our business. She said yes but you have access too it. I said mam, how would you feel if someone denied you credit because Chase is 100 billion in debt.... Or has a 1 trillion dollar credit line. THAT'S NOT THE SAME, yes it is mam, I work for Bluewave Audio i just happen to own it, the same way you work for chase.  When she was looking over my credit report she said what's the 71k loan, (my truck) who needs a 70k truck? I was been sly when I said witch one? Mine or the wife's? (she seemed to be a very low income person) she was offended that we had a nice truck. It was very weird hearing a credit analyst criticize me having them. It felt very unprofessional.

 

sorry for spelling


 


I may have not understood the aounts. I thought you meant it was $26 and $31. If it was thousands, then the hold confuses me too, but nothing we can do but ask it to be released.

 

The credit card act seems to have confused other lenders' representatives as well.

 

So you are saying you are an authorised user on your wife's card? If so I don't see why she included it in the available credit. If you are actually a joint holder, then yes it does count for you. Even though the Ink card is for a business, they still calulate it in the amount of credit they are willing to give you, why wouldn't they. I am not from low income but even I don't know a truck that costs that much. Even the nicest Ford trucks I haven't seen that high. If you feel the female was unfair you can always ring again. Just make sure to tell them not to do another inquiry, otherwise they will.

Valued Contributor
ryanbush
Posts: 1,292
Registered: ‎08-19-2012
0

Re: citi now holding payments!! Oh and a chase fail!

[ Edited ]

navigatethis12 wrote:

swpopham wrote:


(That is exactly right, It hasn't affected me but why hold the 3rd pif statement payment? Why not the first? Or second?)

 

 

 

 (I know but this lady was a supervisor and trying to quote the new credit card act.)


 

(Sometimes its fustrating because they say you have too much credit... But they always assign an account to the first person on the card. I told the lady our 100k line is our business. She said yes but you have access too it. I said mam, how would you feel if someone denied you credit because Chase is 100 billion in debt.... Or has a 1 trillion dollar credit line. THAT'S NOT THE SAME, yes it is mam, I work for Bluewave Audio i just happen to own it, the same way you work for chase.  When she was looking over my credit report she said what's the 71k loan, (my truck) who needs a 70k truck? I was been sly when I said witch one? Mine or the wife's? (she seemed to be a very low income person) she was offended that we had a nice truck. It was very weird hearing a credit analyst criticize me having them. It felt very unprofessional.

 

sorry for spelling


 


I may have not understood the aounts. I thought you meant it was $26 and $31. If it was thousands, then the hold confuses me too, but nothing we can do but ask it to be released.

 

The credit card act seems to have confused other lenders' representatives as well.

 

So you are saying you are an authorised user on your wife's card? If so I don't see why she included it in the available credit. If you are actually a joint holder, then yes it does count for you. Even though the Ink card is for a business, they still calulate it in the amount of credit they are willing to give you, why wouldn't they. I am not from low income but even I don't know a truck that costs that much. Even the nicest Ford trucks I haven't seen that high. If you feel the female was unfair you can always ring again. Just make sure to tell them not to do another inquiry, otherwise they will.


My dads 2013 Sierra 2500HD Denali list for 66K they really don't come down that much off of list on diesels.  My moms 2012 Escalade Platinum stickered for somewhere close to 90k so it's pretty easy to get a loan for 71k for a truck even with a large down payment.

 

The only thing I see wrong with this is if you have the finances to drive car that expensive you should be paying cash not financing.  although I did finance almost 50k on my truck (2012 Sierra Denali) but it was at 0%

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