topic Re: citi credit card in Credit Cards

citi credit card

Anonymous — Mon, 15 Feb 2016 20:45:00 GMT

I applied for and was approved for the citi simplicy card in july, this card was my lowest starting limited ever. In six month I have not seen any love from Citi and I am thinking about closing the card. Want to know how it will hurt my credit.

Re: citi credit card

Anonymous — Mon, 15 Feb 2016 20:50:06 GMT

It will only hurt if you are using it for a buffer on util. If it is a small line and at $0, you should be fine. Have you tried and looked for a SP increase? Can you afford to take a HP and see if they will increase? How is/was your usage on the card?

Re: citi credit card

mikelo22 — Mon, 15 Feb 2016 21:06:49 GMT

Stupid question, but I just wanted to make sure: Have you tried initiating a SP CLI request online? Squeeky wheel gets oiled.

Re: citi credit card

Anonymous — Mon, 15 Feb 2016 22:55:35 GMT

Can not afford any hard pulls, and i have not asked for any sp cli. My uti is around 30% right now

Re: citi credit card

FinStar — Mon, 15 Feb 2016 23:00:35 GMT

Then, as others have mentioned upthread, see if your account is eligible for a SP CLI. For instance, if the following language "It's easy to find out..." appears exactly as noted below, then it will be SP - no guarantee on the CLI but you can always try and see if it works.

Re: citi credit card

mikelo22 — Mon, 15 Feb 2016 23:11:53 GMT

@Anonymous wrote:
Can not afford any hard pulls, and i have not asked for any sp cli. My uti is around 30% right now

Well let's see if you qualify for a SP.

At the top, click on 'Account Management'.

Under the heading 'Balance Transfers, Lines & Loans' click on 'Request a Credit Line Increase'

If you have more than one Citi card, select the card you want the CLI on at the top.

Now read the wording of the page. It will say one of two things.

If it says "It's easy to find out if you qualify for a credit limit increase. A credit bureau report will not be requested and you will receive an instant decision." then you are eligible to request a SP CLI.

But if it says "By clicking "Continue" you understand that we will obtain a credit bureau report to evaluate your request." then Citi will require a HP.

If you got the SP prompt, then go ahead and put in your Annual Income + Mortage/rent payment. Then hit continue and see what Citi gives you.

Voila. Hopefully that helps you.

You are eligible for a successful SP CLI every six months. If they Citi cannot offer a SP CLI, then I think you have to wait 180 days to try again.

Re: citi credit card

Anonymous — Mon, 15 Feb 2016 23:29:35 GMT

turned down, so now my next qustion since it my newest line will affect my credit as much closing it

Re: citi credit card

mikelo22 — Mon, 15 Feb 2016 23:34:31 GMT

@Anonymous wrote:
turned down, so now my next qustion since it my newest line will affect my credit as much closing it

Aw, sorry to hear that.

But no, it won't hurt your credit to close the card. Since it's a small limit, it shouldn't be much of a factor with your utilization across the board.

Credit cards, even after cancelling them, continue to show up on your credit report for 10 years. So you won't feel the 'effect' of closing the account until then, at which time it shouldn't really matter.

Re: citi credit card

Kevin86475391 — Mon, 15 Feb 2016 23:43:37 GMT

@mikelo22 wrote:
@Anonymous wrote:
turned down, so now my next qustion since it my newest line will affect my credit as much closing it
Aw, sorry to hear that.

But no, it won't hurt your credit to close the card. Since it's a small limit, it shouldn't be much of a factor with your utilization across the board.

Credit cards, even after cancelling them, continue to show up on your credit report for 10 years. So you won't feel the 'effect' of closing the account until then, at which time it shouldn't really matter.

Exactly, as long as losing the credit limit hurt your utilization you should be fine. The damage is already done for the new line of credit and the inquiry - and closing it won't undo that - but as stated the account should stay on your credit report for 10 years, so you also won't have to worry about losing the slight account history it's accumulated.

However, IMO 6 months without a CLI isn't all that bad. I'd personally give it at least another 6 months before making a decision.

Re: citi credit card

ScoreOrBeScored — Tue, 16 Feb 2016 00:02:08 GMT

don't close it, just see if you can PC it to Double Cash

Re: citi credit card

mikelo22 — Tue, 16 Feb 2016 00:10:01 GMT

@ScoreOrBeScored wrote:
don't close it, just see if you can PC it to Double Cash

Two issues with that unfortunately. First, you cannot PC any Citi card until it's at least 12 months old. Second, I do not believe Citi allows you to PC the Simplicity into anything.

Re: citi credit card

FinStar — Tue, 16 Feb 2016 00:44:42 GMT

@mikelo22 wrote:
@ScoreOrBeScored wrote:
don't close it, just see if you can PC it to Double Cash
Two issues with that unfortunately. First, you cannot PC any Citi card until it's at least 12 months old. Second, I do not believe Citi allows you to PC the Simplicity into anything.

Correct. Because the Simplicity CC is under a different pricing and CCA structure, it cannot be PC'd to Double Cash (even if the OP waited 12 months or the intro rate expired).

Re: citi credit card

9CLINE — Tue, 16 Feb 2016 01:11:13 GMT

+1 Mikelo22 Had the simpl. card and couldn't pc to DC but I did get CLi's about every 6mths...would give it more time,,also maybe I missed where you told the CL and terms, but in the end you do what's best for you...
Good Luck.......

Re: citi credit card

Anonymous — Tue, 16 Feb 2016 01:28:02 GMT

@Anonymous wrote:
turned down, so now my next qustion since it my newest line will affect my credit as much closing it

Closed accounts can stay on your credit profile for up to 10 years.

Sorry you were declined. If you signed up for e-statements, you should have a denial letter in your inbox tomorrow. Citibank accounts are usually eligible for CLIs every 6 months. How long has your account been open?

Re: citi credit card

FinStar — Tue, 16 Feb 2016 01:39:41 GMT

@beautifulblaquepearl wrote:
@Anonymous wrote:
turned down, so now my next qustion since it my newest line will affect my credit as much closing it
Closed accounts can stay on your credit profile for up to 10 years.

Sorry you were declined. If you signed up for e-statements, you should have a denial letter in your inbox tomorrow. Citibank accounts are usually eligible for CLIs every 6 months. How long has your account been open?

The OP provided this on the first post:

@Anonymous wrote:
I applied for and was approved for the citi simplicy card in july, this card was my lowest starting limited ever. In six month I have not seen any love from Citi and I am thinking about closing the card. Want to know how it will hurt my credit.

Re: citi credit card

Anonymous — Tue, 16 Feb 2016 12:23:03 GMT

6 month since open, I have had a couple of balance reported, but always paid off in full

Re: citi credit card

Anonymous — Tue, 16 Feb 2016 12:23:57 GMT

6 months and 1800 cl