topic Just applied, and just closed. in Credit Cards

Just applied, and just closed.

magixnite — Fri, 06 Mar 2020 10:06:19 GMT

I applied for the Citi Best Buy card less than a month ago...and now just closed.

Idk if anyone else ever gets mixed emotions like this about credit cards lol.

But anyway, bye bye $2k line 👋

Re: Just applied, and just closed.

Anonymous — Fri, 06 Mar 2020 11:03:57 GMT

With no AF, I'm curious why you'd take the HP and then just close it instead of throwing it in the drawer...?

Re: Just applied, and just closed.

Mv350 — Fri, 06 Mar 2020 11:07:10 GMT

Is there a particular reason you closed it? I love Best Buy

Re: Just applied, and just closed.

simplynoir — Fri, 06 Mar 2020 11:10:51 GMT

@magixnite wrote:
I applied for the Citi Best Buy card less than a month ago...and now just closed.
Idk if anyone else ever gets mixed emotions like this about credit cards lol.

But anyway, bye bye $2k line 👋

Count me in on being confused why you closed the card. You already took the HP and the card itself is great with both great earnings and financing options when you shop at Best Buy

Re: Just applied, and just closed.

Jnbmom — Fri, 06 Mar 2020 11:14:50 GMT

I am all for closing cards you don't need or want however this card only being a month old? You took the hit, possible double hit with citi . I would have just sock drawered it as well.

Re: Just applied, and just closed.

wasCB14 — Fri, 06 Mar 2020 11:29:38 GMT

Citi may have been concerned with your limited history and 5 new accounts in the last ~6 months.

I occasionally shop at Best Buy. I tend to use the Costco Visa for electronics, though (extended warranty). Sometimes Amex if they have some nice rewards/financing promo.

Your Freedom is just $500 and also a month old. Do you plan to get rid of that, too?

Re: Just applied, and just closed.

AverageJoesCredit — Fri, 06 Mar 2020 12:02:17 GMT

@magixnite wrote:
I applied for the Citi Best Buy card less than a month ago...and now just closed.
Idk if anyone else ever gets mixed emotions like this about credit cards lol.

But anyway, bye bye $2k line 👋

Best way to endear yourself to a lender😉

Re: Just applied, and just closed.

elixerin — Fri, 06 Mar 2020 12:13:53 GMT

hard to mix emotion with a plastic square with some numbers on it, it either benefits me or i don't have it😂

a "credit limit" also dont really mean much unless you're at early stages and are getting reasonable charges declined due to limiting restrictions

i would consider thinking what most benefits you more thouroughly before apping for cards you may not need

Re: Just applied, and just closed.

Anonymous — Fri, 06 Mar 2020 12:16:21 GMT

@wasCB14 wrote:
Citi may have been concerned with your limited history and 5 new accounts in the last ~6 months.

I occasionally shop at Best Buy. I tend to use the Costco Visa for electronics, though (extended warranty). Sometimes Amex if they have some nice rewards/financing promo.

Your Freedom is just $500 and also a month old. Do you plan to get rid of that, too?

I read it as OP closed the card after a month rather than Citi closing it, based on the "mixed emotions" statement. If OP would clarify that it would help.

Re: Just applied, and just closed.

seattletravels — Fri, 06 Mar 2020 14:36:01 GMT

@Anonymous wrote:
@wasCB14 wrote:
Citi may have been concerned with your limited history and 5 new accounts in the last ~6 months.

I occasionally shop at Best Buy. I tend to use the Costco Visa for electronics, though (extended warranty). Sometimes Amex if they have some nice rewards/financing promo.

Your Freedom is just $500 and also a month old. Do you plan to get rid of that, too?
I read it as OP closed the card after a month rather than Citi closing it, based on the "mixed emotions" statement. If OP would clarify that it would help.

I read it the same way (as you).

Re: Just applied, and just closed.

Anonymous — Fri, 06 Mar 2020 14:43:00 GMT

I am confused as well why you would close a card you just opened and took a hit for. Personally, I would've put the card in my SD as others upthread stated. I don't know if I could judge a card so harshly in one month of having it that I would close the account. Especially when it comes to Best Buy. Who doesn't love the geek squad?

Re: Just applied, and just closed.

elixerin — Fri, 06 Mar 2020 15:01:13 GMT

meh, can relate. Opened Plat in Jan and almost closed it in Feb xD

p.s. Geek Squad still exists?

Re: Just applied, and just closed.

GApeachy — Fri, 06 Mar 2020 15:07:27 GMT

@magixnite wrote:
Idk if anyone else ever gets mixed emotions like this about credit cards lol.
anyway, bye bye ( 👋 )

@magixnite Well it happens, but I have found that emotions need a cooling off period before closing in haste. < month.

(I'm not a fine one to talk though guilty of that very thing )

Was the reason you closed the tl because it's a Citi product, a hard to squeeze out a cli product? Or something else. Inquiring minds wanna know.

Re: Just applied, and just closed.

imaximous — Fri, 06 Mar 2020 15:23:16 GMT

Here's my story... I opened the Best Buy card last night. They gave me a $1k SL. I called to get a CLI to $20k. Spent half an hour on the phone with 2 people in the credit department answering income and assets questions. Then they referred me to underwriting and told me no increase at all. I told them to cancel the card right away.
I didn't get a HP for the approval yet and I'll probably see a new open and closed account on my credit reports, but it is what it is. My BB cart had like $20k in stuff. I can't do anything with $1k CL. I must say I was looking forward to $2k in rewards from the first purchase (10% back) but it didn't happen.

Re: Just applied, and just closed.

donkort — Fri, 06 Mar 2020 15:28:44 GMT

I could, never, in a million years, get a $20,000 credit limit on that sort of card. And my credit is really pretty good.

You sort of cut your nose to spite your face in this instance. Out of irritation.

Credit is a game where you have to have a sort of detachment about things.

Re: Just applied, and just closed.

Medic981 — Fri, 06 Mar 2020 15:38:29 GMT

@elixerin wrote:
meh, can relate. Opened Plat in Jan and almost closed it in Feb xD

p.s. Geek Squad still exists?

I prefer the Nerd Herd

Re: Just applied, and just closed.

SarahJo — Fri, 06 Mar 2020 15:55:08 GMT

@donkort wrote:
I could, never, in a million years, get a $20,000 credit limit on that sort of card. And my credit is really pretty good.

You sort of cut your nose to spite your face in this instance. Out of irritation.

Credit is a game where you have to have a sort of detachment about things.

Perhaps typo, original post says $2K? Oh I see, the "hopes" of getting 20K? Definitely agree with the detachment.

Re: Just applied, and just closed.

GApeachy — Fri, 06 Mar 2020 15:54:50 GMT

@SarahJo wrote:
Perhaps typo, original post says $2K.

Different poster is why.

Re: Just applied, and just closed.

seattletravels — Fri, 06 Mar 2020 15:55:23 GMT

@Medic981 wrote:
@elixerin wrote:
meh, can relate. Opened Plat in Jan and almost closed it in Feb xD

p.s. Geek Squad still exists?
I prefer the Nerd Herd

I loved that show!

Re: Just applied, and just closed.

Anonymous — Fri, 06 Mar 2020 16:13:58 GMT

@donkort wrote:
I could, never, in a million years, get a $20,000 credit limit on that sort of card. And my credit is really pretty good.

You sort of cut your nose to spite your face in this instance. Out of irritation.

Credit is a game where you have to have a sort of detachment about things.

Depends where you are in the credit game. I think @imaximous has a good enough profile that something like this doesn't really matter, and it might well be psychologically more satisfying to have dealt with the card for good than S/Ding and revisiting at some stage. Don't know if OP is in a similar situation.