Reply
Frequent Contributor
Posts: 378
Registered: ‎04-03-2013
0

thinking of closing my citi card

I applied for a citi diamond preferred mc about 3 weeks ago because I wanted a mc but didnt think it through. I got a 3k cl which im not too thrilled about and I doubt I will ever use this card. I am probably going to PC my freedom to a world mc when it hits a year. Should I close the citi card?

Community Leader
Senior Contributor
Posts: 26,694
Registered: ‎02-07-2013
0

Re: thinking of closing my citi card


darkfrosty wrote:

I applied for a citi diamond preferred mc about 3 weeks ago because I wanted a mc but didnt think it through. I got a 3k cl which im not too thrilled about and I doubt I will ever use this card. I am probably going to PC my freedom to a world mc when it hits a year. Should I close the citi card?


IMO I don't believe in closing card unless they have an annual fee you've already taken the hit to AAoA and the HP. My advice keep it open and charge somthing small to it every 4 months or put a recurring bill on it monthly and pay it off.

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Frequent Contributor
Posts: 399
Registered: ‎04-30-2008
0

Re: thinking of closing my citi card

I agree with "myjourney"

 

Keep the card opened, it will grown with time.

Frequent Contributor
Posts: 397
Registered: ‎09-08-2010
0

Re: thinking of closing my citi card

I would not close it.  use it for a tank of gas every now and then  and let it grow.  YOu've taken the HP and the 3k will help with utilization. Isn't costing you anything to have it in the drawer... just when you use it.

Back in the garden!
App free since 23Oct2012 reset to 27Aug13 and reset again 4nov13
Valued Contributor
Posts: 1,093
Registered: ‎02-15-2012
0

Re: thinking of closing my citi card

I am past the one year mark, and no CLI on that card. I have it sitting open myself. I am thinking about doing a PC on it.


Starting Score: 693 TU FICO, 679 EQ FICO
Current Score: 748 TU(12/12), 783 TU98 , 813 TU08 FICO, 744 EQ FICO , 735 EX(9/12), 794 EX08 FICO, 809 EX08 bankcard FICO
Goal Score: 750+, but shooting for the 800's
Hyatt Visa Sig ($23K), Amex BCP (20.7K), BofA Travel Rewards ($17.5), B&N World MC ($17.3K), Amex RP Gold (NPSL w/ S&T), Cash+ Sig (15K), FNBO Visa (13.1K), Hilton Surpass (10K), Freedom Visa Sig ($8.6K), Disc It ($8K), Citi Dia Pref MC ($3.7K),Sam's D ($8.5K), Wally D ($7.5K), JCP($5.3K)
Frequent Contributor
Posts: 378
Registered: ‎04-03-2013
0

Re: thinking of closing my citi card

yea I guess I wont cancel it just permantly sd it.

maybe after a year try and pc it to something better like a premier world elite lol

Community Leader
Senior Contributor
Posts: 26,694
Registered: ‎02-07-2013
0

Re: thinking of closing my citi card


darkfrosty wrote:

yea I guess I wont cancel it just permantly sd it.

maybe after a year try and pc it to something better like a premier world elite lol


Try in 6 months but good idea to not close.....solid move IMO

"Intelligence plus character--that is the goal of true education"
Last 5 apps 6/13


Regular Contributor
Posts: 153
Registered: ‎05-16-2012
0

Re: thinking of closing my citi card


darkfrosty wrote:

Should I close the citi card?


I guess I'll be the only one that says otherwise...CLOSE IT.  You already have some decent cards (Chase Freedom and Sapphire Preferred) with much more decent limits and much better benefits in my opinion.  True, you did waste a hard pull applying for it but I can see how this might have been an impulse application seeing as you wanted to add a MasterCard to your wallet.  However, hard pulls, don't hurt your credit that much.  But, like you said, you can always change your Chase Freedom to a MasterCard later.

 

The only reason that I would keep the card open is if it has a substantially LOWER APR than any of your other cards.  I would specifically use that Citi card for carrying balances.  Other than that reason...I say shut it down, you already have enough cards.  I have actually thought about closing my Citi card but the only reason I will not is because it is one of my oldest accounts.


Chase United MileagePlus Explorer Visa Signature - $25,000 | Chase Freedom Visa Signature - $22,000
Chase Slate Visa - $10,800 | Citi AT&T Universal MC - $15,200 | Best Buy (Citi) Card - $10,000
USAA Platinum MC - $21,000 | AMEX Everyday - $20,000
Amazon Store Card - $3,800
Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
0

Re: thinking of closing my citi card


myjourney wrote:

darkfrosty wrote:

I applied for a citi diamond preferred mc about 3 weeks ago because I wanted a mc but didnt think it through. I got a 3k cl which im not too thrilled about and I doubt I will ever use this card. I am probably going to PC my freedom to a world mc when it hits a year. Should I close the citi card?


IMO I don't believe in closing card unless they have an annual fee you've already taken the hit to AAoA and the HP. My advice keep it open and charge somthing small to it every 4 months or put a recurring bill on it monthly and pay it off.


I agree I would not close it. Keep it for a year then take a HP for a decent CLI.




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014
Valued Contributor
Posts: 1,397
Registered: ‎08-30-2011
0

Re: thinking of closing my citi card

[ Edited ]

darkfrosty wrote:

I applied for a citi diamond preferred mc about 3 weeks ago because I wanted a mc but didnt think it through. I got a 3k cl which im not too thrilled about and I doubt I will ever use this card. I am probably going to PC my freedom to a world mc when it hits a year. Should I close the citi card?


Keep it open.  No AF, so it doesn't cost you anything, you've already taken the hit for the INQ.  Might as well keep it, SD it, use it as a door stop, whatever.  Ya never know when you might need to do a BT, it's a wonderful card for those occasions.  AND CITI can be very generous with CLI. 

 

EDIT: You can also get it with an EMV chip, if this is something that you might use in the future.  Again, doesn't cost anything to get one, good to have if needed. 

Diners Club Premier MasterCard $50K / AMEX Gold NPSL / AMEX Zync NPSL / AMEX Blue Cash Preferred $14K / Bank of America Cash Rewards Signature Visa $15K / Merrill Lynch Plus Signature Visa $15K / Wells Fargo Propel 365 $15K / Chase Sapphire Preferred Signature Visa $10K / J P Morgan Select Signature Visa $10K / Chase Slate Visa $6K / CITI Diamond Preferred MasterCard $13.2K / Discover IT $10.5K / IberiaBank Select Visa $8K / 1st Command Bank Platinum Visa $7.5K // Home Depot $9.7K / Lowes $10K

EX = 818 EQ = 822 TU = 830 - 01/2015

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.