topic Re: Bad Bad Citi in Credit Cards

Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 14:19:04 GMT

This Morning i woke up to a email from these jokers about two of my cards getting a credit limit decrease. I have had these 2 cards since 2011 and i have a prestige card, They decreased my double cash from over 10k to 300 bucks and my dividend from 10k to 6700 and they left my prestiage alone. they are talking about i have excessive debit i only have 15k in cc debit and 200k in credit, No missed payments and no lates on any account and my scores are in the 750 range, they wanted a hard pull to look at my credit again i told them no and closed the double cash card! I am so flaming mad! Goes to show no matter how well you treat a bank and no matter how long you have been a customer they do not care!

Re: Bad Bad Citi

ChargedUp — Sun, 18 Jun 2017 14:30:59 GMT

@Anonymous wrote:
This Morning i woke up to a email from these jokers about two of my cards getting a credit limit decrease. I have had these 2 cards since 2011 and i have a prestige card, They decreased my double cash from over 10k to 300 bucks and my dividend from 10k to 6700 and they left my prestiage alone. they are talking about i have excessive debit i only have 15k in cc debit and 200k in credit, No missed payments and no lates on any account and my scores are in the 750 range, they wanted a hard pull to look at my credit again i told them no and closed the double cash card! I am so flaming mad! Goes to show no matter how well you treat a bank and no matter how long you have been a customer they do not care!

Sorry to hear! Is Citi subscribing to the book of Barclays now? Is that $15K all on one card and making the utilization high for that specific card? That's some absurd AA for the stats you speak of!

Re: Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 14:53:25 GMT

Their early warning system must have tripped. Perhaps it is time to take a look at what you are doing, just in case.

Re: Bad Bad Citi

jawbrkr — Sun, 18 Jun 2017 14:59:24 GMT

From 10K to $300? What the hell do they want you to do with that? Then they want to HP you to check again? A soft pull was enough for them to get the information they needed and see you were 15K in debt. Not sure what the difference in data is but what is a HP going to give them that they don't already have with that SP?

Re: Bad Bad Citi

UncleB — Sun, 18 Jun 2017 15:00:24 GMT

@Anonymous wrote:
This Morning i woke up to a email from these jokers about two of my cards getting a credit limit decrease. I have had these 2 cards since 2011 and i have a prestige card, They decreased my double cash from over 10k to 300 bucks and my dividend from 10k to 6700 and they left my prestiage alone. they are talking about i have excessive debit i only have 15k in cc debit and 200k in credit, No missed payments and no lates on any account and my scores are in the 750 range, they wanted a hard pull to look at my credit again i told them no and closed the double cash card! I am so flaming mad! Goes to show no matter how well you treat a bank and no matter how long you have been a customer they do not care!

Dang... I'm sorry to hear about this.

Just a few days ago I mentioned how Citi back in the 90s was 'solid' for me, even when I kept my cards maxed out for months/years on end. I guess that's yet another thing that I'll have to start speaking of in the past tense.

Re: Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 15:34:51 GMT

No the 15k is spread into a few different cards I only had a balance on one of my citicards. Strange thing is they left the 22k on my prestige card alone. It's no loss really to think about I only used them for their low rate balance transfer offers. I was going to but the dividend card but they left that at 6700. I juat got a offer from navy for a gorewards card the other day. It's all strange citi keeps sending me offers for their American airlines cards

Re: Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 15:45:44 GMT

Citi did the same thing to me, but way back in 2009. I carried all my credit card debt (thanks to 0% BTs) on my Citi Diamond something card. It was around a 10k and my only debt. Granted, I was living beyond my means and this was my lesson. Anyway, despite having great credit, they out of the blue reduce my limit from 20k to my balance. A month later a got a notice that my apr was going up from 6.5% (unheard of and amazing!) to 24%. I was able to close to the account and maintain the 6.5 interested rate. Took me a few years to pay off and I learned my lesson with credit cards.

Anyway, I'm huge Citi fan, but the second they stater seeing systemic and individual risk, I would be concerned.

Re: Bad Bad Citi

gdale6 — Sun, 18 Jun 2017 15:51:33 GMT

Sorry to hear but defaults are rising and the banks are being proactive in getting ahead of the curve this time by cutting before the limits are reached. I detest what they are doing these days, in the 80s and 90s one could max all cards without losing a dime in credit and still get more cards if you had the income to support the payments.

Re: Bad Bad Citi

AverageJoesCredit — Sun, 18 Jun 2017 15:59:27 GMT

So about a 7% utilization gets one cld, not good. Id hate to be over 10% SMH. I seriously cant wait to pay down my cc debt and i think im gonna pick 5 and roll the dice. Id rather be the one clding then the bank . Sorry about yours. Was tour 15k most recent or have you been carrying for awhile?

Re: Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 16:12:37 GMT

I carry around that much I could pay it off but I try to keep it in the sweet spot around 10% so to speak to get the maximum boost in my score, if.i payed it all off then my score would drop. I just sold a house back in feb and as soon as wells Fargo reported it payed my score dropped 20 points.

Re: Bad Bad Citi

AverageJoesCredit — Sun, 18 Jun 2017 18:09:49 GMT

Yeah funny thing about scoring. They dont want you to carry debt but if you have no debt you get penalized for it ,go figure

Re: Bad Bad Citi

Scott1212 — Sun, 18 Jun 2017 18:24:43 GMT

Do you pay interest to keep your score up?

Re: Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 20:04:18 GMT

No most of the cards I pif every month only 2 I have a balance on is a citi and a Sallie Mae. Due to the sweet 1% promos. I have like 1500 on my csr and smaller balances on other cards.

Re: Bad Bad Citi

Anonymous — Sun, 18 Jun 2017 20:30:13 GMT

Sorry about the CLD.

Any new accounts/inquiries in the past 6-12 months? If yes, how many? Other than paying off your house, has there been any other changes to your credit profile?

Re: Bad Bad Citi

yfan — Sun, 18 Jun 2017 22:01:55 GMT

This is becoming somewhat regular to mention, but banks don't just up and CLD for no reason. A $15K credit card debt in the sole context of 200K in total limits may not be significant, but how that kind of debt stacks up against the bank's own default risk statistics, one's income, other debts (like real estate and car loans), perceived ability and willingness to pay and a series of other factors is a different story.

At the end of the day, banking relationships are about benefits and costs, and nothing more. When a relationship's costs begin to outweigh its benefits, the rational decision for a consumer is to terminate or alter that relationship. The exact same applies to the bank.

Re: Bad Bad Citi

happypill — Mon, 19 Jun 2017 00:04:21 GMT

To me, the question isn't $15k CC debt compared with $200k available credit; utilizatin is relevant but doesn't seem to be the major factor here. The most likely issue in this case is how does $15k CC debt compare to income? Another question would be whether that debt figure has been increasing or if you've been paying it down.

Citi definitely isn't the only lender to care about such things, and as others have suggested, this should prompt you to review your status before other lenders notice and take action as well. Utilization is extremely important when it comes to credit score, but lenders have other internal algorithms that help them predict future trouble. OP obviously triggered something, so continue playing with fire at your own peril.

Re: Bad Bad Citi

Anonymous — Mon, 19 Jun 2017 05:26:11 GMT

We went through this from 2006 to 2009. Cards even with little use or low balance cld. We had such low limits we closed them as they could not be used. It was a pain. We were never late or over limit or even high % use. Once the first one started the rest followed suit. We went to cash and carry for about years. .

Re: Bad Bad Citi

Anonymous — Mon, 19 Jun 2017 10:29:33 GMT

Nothing in my credit profile has really changed from what I can tell. Matter of fact I was pre approved from navy for a new car loan and pulled the trigger last night on it. I was instantly approved for 75K so I don't know lol

Re: Bad Bad Citi

Anonymous — Mon, 19 Jun 2017 15:57:05 GMT

@Anonymous wrote:
This Morning i woke up to a email from these jokers about two of my cards getting a credit limit decrease. I have had these 2 cards since 2011 and i have a prestige card, They decreased my double cash from over 10k to 300 bucks and my dividend from 10k to 6700 and they left my prestiage alone. they are talking about i have excessive debit i only have 15k in cc debit and 200k in credit, No missed payments and no lates on any account and my scores are in the 750 range, they wanted a hard pull to look at my credit again i told them no and closed the double cash card! I am so flaming mad! Goes to show no matter how well you treat a bank and no matter how long you have been a customer they do not care!

How quickly did you rack up that 15k? Also, is that 15k debt a high percentage of your income? If you spent 15k quickly, that is going to be a big red flag for any bank, as most people cannot come up with 15k in a short period of time. This is especially true if 15k is a sizable percentage of your annual income (meaning you can not afford to pay it off).

Not to sound mean, but remember that banks are not obligated to give you lines of credit. They are for-profit businesses. If they think you are too risky, they have every right to reduce their risk exposure. They don't care how "well you treated" them, they look at the numbers, and the numbers showed an increased risk by giving you open credit. Just put yourself in their shoes, if you allowed your friend/family member to borrow money from you up to a certain limit and it, for whatever reason, seemed like they were racking up too much debt recently and would be less likely to pay you back, would you continue to let them borrow even more money?

Re: Bad Bad Citi

AverageJoesCredit — Mon, 19 Jun 2017 16:11:35 GMT

I dont know, if Nsvy is approving a 75k limit car loan, Op's income must be nice, lol