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jernyc1080 wrote:
Wife's citicard had a $10,000 CL. We used about 6k of it. Then as our family util went up on other cards, fico drops from 800+ to just about 700, so citi immediately dropped her CL to just above the balance of $6100. Then we learn about how util and fico and interest rates are all related...
So we paid off the citicard in full last month, and Citibank raises her CL back up to $10k.
My expectation (and if I could afford to do this, I would) -- if we were to use $6,000 of credit again, and if citi lowers the CL again, you know there is evil in the world (and citi's business practices).
WHAT GOOD is a CL if, when you use it, the creditor immediately cuts you off -=- then since your util increases from 60% to 97%, then your fico drops -- and if your fico drops, you set off all kinds off interest rate hikes and other bad stuff...
Citi should be ashamed of themselves for such practices.
I hope a media person reads this and busts them.
I still believe that cash is legit mean of payment.
jernyc1080 wrote:
Wife's citicard had a $10,000 CL. We used about 6k of it. Then as our family util went up on other cards, fico drops from 800+ to just about 700, so citi immediately dropped her CL to just above the balance of $6100. Then we learn about how util and fico and interest rates are all related...
So we paid off the citicard in full last month, and Citibank raises her CL back up to $10k.
My expectation (and if I could afford to do this, I would) -- if we were to use $6,000 of credit again, and if citi lowers the CL again, you know there is evil in the world (and citi's business practices).
WHAT GOOD is a CL if, when you use it, the creditor immediately cuts you off -=- then since your util increases from 60% to 97%, then your fico drops -- and if your fico drops, you set off all kinds off interest rate hikes and other bad stuff...
Citi should be ashamed of themselves for such practices.
I hope a media person reads this and busts them.
??? Am I missing something?
wmarat wrote:I still believe that cash is legit mean of payment.