topic Citi Secured Card still not graduated after almost 7 years in Credit Cards

Citi Secured Card still not graduated after almost 7 years

hsdubb19 — Tue, 28 Nov 2023 03:52:22 GMT

This is my oldest card with 6 Years, 3 Months of positive history.

No late payments at all.

I just got a letter stating that they want to continue to review my account for another 12 months.

This is ridiculous. I have other cards with limits up to $60K and my other cards have a minumum of $20K limit.

My Fico Scores are also at 750+

I would like to continue to support CitiBank since they helped me rebuild my credit but after seven years of positive history, they still want to keep me as a secured customer.

I contacted customer service who recommended me to write the credit department a letter. I will try and update.
If anyone has gotten them to reconsider, please let me know.

When calling for a product change, they say that they cannot until the card matures.

Re: Citi Secured Card still not graduated after almost 7 years

Linnaea — Tue, 28 Nov 2023 04:40:45 GMT

Wow, this is so wrong on many levels. Me personally I would close it. I don't know much about Citi but can you product change? Sounds like a carrot on a stock situation. Or the when a man days a woman for years but won't put a ring in her finger. I say runaway until you catch them. Close it. The positive will report for several years. But I'm no pro. I will let others chime in.

Re: Citi Secured Card still not graduated after almost 7 years

hsdubb19 — Tue, 28 Nov 2023 04:45:04 GMT

They said no product changes until the account matures which they refuse to do.

Re: Citi Secured Card still not graduated after almost 7 years

GZG — Tue, 28 Nov 2023 05:01:51 GMT

the citi secured product isn't good, as you're finding out -- ridiculous

if you want to pay back citi's generosity in them giving you a card, get another one of their cards. Assuming you don't have much recent credit, I can't imagine you not being approved. Get a double cash w/$200 limited time SUB or get very nice 5% categories with the custom cash or something and add a staple card to your credit card portfolio

Re: Citi Secured Card still not graduated after almost 7 years

NoMoreE46 — Tue, 28 Nov 2023 13:08:34 GMT

That is quite a long duration.
Did you have any history with Citi before this card?

I would SD it and app for something you want.

Re: Citi Secured Card still not graduated after almost 7 years

Horseshoez — Tue, 28 Nov 2023 13:47:01 GMT

I'd close the card if the amount of the security deposit was anything more than a couple hundred dollars; it simply isn't worth tying up your money for no benefit. As for Citi, I know *some* financial institutions allow you to apply for unsecured cards while also having a secured one; you might want to simply apply for a different Citi card, and regardless of whether you are approved or not, close the secured one.

Re: Citi Secured Card still not graduated after almost 7 years

Lou-natic — Tue, 28 Nov 2023 15:42:43 GMT

@hsdubb19 wrote:
This is my oldest card with 6 Years, 3 Months of positive history.
No late payments at all.

I just got a letter stating that they want to continue to review my account for another 12 months.

This is ridiculous. I have other cards with limits up to $60K and my other cards have a minumum of $20K limit.
My Fico Scores are also at 750+

I would like to continue to support CitiBank since they helped me rebuild my credit but after seven years of positive history, they still want to keep me as a secured customer.

I contacted customer service who recommended me to write the credit department a letter. I will try and update.
If anyone has gotten them to reconsider, please let me know.

When calling for a product change, they say that they cannot until the card matures.

Once a secured card has fulfilled its purpose it's time to let it go. If it "graduates" or not shouldn't be a consideration. In your case the card did what you needed it for and it's time to cancel it.

Re: Citi Secured Card still not graduated after almost 7 years

Horseshoez — Tue, 28 Nov 2023 17:44:22 GMT

@Lou-natic wrote:
@hsdubb19 wrote:
This is my oldest card with 6 Years, 3 Months of positive history.
No late payments at all.

I just got a letter stating that they want to continue to review my account for another 12 months.

This is ridiculous. I have other cards with limits up to $60K and my other cards have a minumum of $20K limit.
My Fico Scores are also at 750+

I would like to continue to support CitiBank since they helped me rebuild my credit but after seven years of positive history, they still want to keep me as a secured customer.

I contacted customer service who recommended me to write the credit department a letter. I will try and update.
If anyone has gotten them to reconsider, please let me know.

When calling for a product change, they say that they cannot until the card matures.
Once a secured card has fulfilled its purpose it's time to let it go. If it "graduates" or not shouldn't be a consideration. In your case the card did what you needed it for and it's time to cancel it.

I still have the card which started as my post-Chapter 13 secured card; it graduated in only six months and now, after almost 3.5 years it has Auto-CLIed itself up to a limit of $11,500; it is still my most used card.

Re: Citi Secured Card still not graduated after almost 7 years

Kforce — Tue, 28 Nov 2023 17:57:48 GMT

As @Lou-natic , @Horseshoez and @GZG have said.

Once a secured card has fulfilled its purpose let it go. (graduation or not)

It should still report and support your history for a long time.

Close it, get your money back, and move on.

You said:

"I would like to continue to support Citi Bank since they helped me rebuild my credit"

I think you have paid back that debt, with seven years of them holding your money and

propper use and payment of the card.

Do what is best for you from this point in time.

Re: Citi Secured Card still not graduated after almost 7 years

hsdubb19 — Wed, 29 Nov 2023 00:15:08 GMT

This is my first and only Citi card ever no I never burned them or anything.

The credit limit is also $200 so that is the amount that they are holding on to.

I held out hope for it to be unsecured so I could PC to Custom Cash and continue using it since it would be my oldest card.

Re: Citi Secured Card still not graduated after almost 7 years

cr101 — Wed, 29 Nov 2023 02:53:54 GMT

Wow, I'm so sorry to hear that. Seven years is an extremely long time. This is what I would personally do: I don't know who you've already talked to, but I personally have no problem complaining and escalating things. I'd reach out to them via facebook messenger and kindly explain that you've had the card for x years and was hoping to get another card with them. See if they can have their team look into why your card hasn't graduated...

Also, you said that you've had the card for 7 yrs, but have 6.5 yrs of positive history. Can you explain?

When did they initially tell you it would graduate?

Personally, if they don't graduate the card now, I wouldn't even consider getting a non-secured w them. Take your business elsewhere. You may even want to explain that when you reach out to them.

Based on your credit score and other cards with $20k min limit, you certainly don't need this card. If what others are saying is true about low-limit cards hindering you when you apply w others, they are certainly not doing anything good for you. Also, if you reach out to them, let them know your limits with other companies.

Re: Citi Secured Card still not graduated after almost 7 years

hsdubb19 — Thu, 30 Nov 2023 23:20:48 GMT

@cr101 wrote:
Wow, I'm so sorry to hear that. Seven years is an extremely long time. This is what I would personally do: I don't know who you've already talked to, but I personally have no problem complaining and escalating things. I'd reach out to them via facebook messenger and kindly explain that you've had the card for x years and was hoping to get another card with them. See if they can have their team look into why your card hasn't graduated...

Also, you said that you've had the card for 7 yrs, but have 6.5 yrs of positive history. Can you explain?

When did they initially tell you it would graduate?

Personally, if they don't graduate the card now, I wouldn't even consider getting a non-secured w them. Take your business elsewhere. You may even want to explain that when you reach out to them.

Based on your credit score and other cards with $20k min limit, you certainly don't need this card. If what others are saying is true about low-limit cards hindering you when you apply w others, they are certainly not doing anything good for you. Also, if you reach out to them, let them know your limits with other companies.

Almost 7 Years. I had the card for 6 years and 3 months.

Re: Citi Secured Card still not graduated after almost 7 years

hsdubb19 — Sun, 10 Dec 2023 03:23:31 GMT

UPDATE: I emailed Citi Executive Office and they said that there was nothing that they could do.

I mailed in a letter to customer support so I will update when they reply.

Re: Citi Secured Card still not graduated after almost 7 years

Horseshoez — Sun, 10 Dec 2023 13:29:40 GMT

@hsdubb19 wrote:
UPDATE: I emailed Citi Executive Office and they said that there was nothing that they could do.

I mailed in a letter to customer support so I will update when they reply.

At this point it would be bye-bye Citi.

Re: Citi Secured Card still not graduated after almost 7 years

Linnaea — Sun, 10 Dec 2023 14:19:36 GMT

Once my good opinion is lost its lost forever. I would close it. I wouldn't do anything with them. I am actually mad for you. It's non-sensical.