topic Re: Citi Custom Cash CLD in Credit Cards

Citi Custom Cash CLD

sftechiegirl — Wed, 17 Jan 2024 03:47:28 GMT

Citibank lowered my credit limit from $33k to $22k. I do not carry a balance on the card, other than the monthly $200-$400 statement balance that I pay off every month. My FICO score is around 806-809 and overall usage is 1%. I have a feeling the limit was lowered because I don't use the card as much as they want me to.

I am wondering if I should just close the card. My total available limit among all the cards is over $300k, so closing the card won't effect my usage that much. It is one of my oldest cards though, but I do have several other cards that are older.

Re: Citi Custom Cash CLD

1LostArk — Wed, 17 Jan 2024 04:07:25 GMT

I would call and ask to have your credit limit reinstated. I'd still keep it open regardless, I personally don't see a point in closing no AF cards.

Re: Citi Custom Cash CLD

GZG — Wed, 17 Jan 2024 04:52:33 GMT

@sftechiegirl wrote:
Citibank lowered my credit limit from $33k to $22k. I do not carry a balance on the card, other than the monthly $200-$400 statement balance that I pay off every month. My FICO score is around 806-809 and overall usage is 1%. I have a feeling the limit was lowered because I don't use the card as much as they want me to.

I am wondering if I should just close the card. My total available limit among all the cards is over $300k, so closing the card won't effect my usage that much. It is one of my oldest cards though, but I do have several other cards that are older.

ccc is one of the best cards on the market, no reason to close it IMO, citi is stingy, relatively speaking, I wouldn't take it personally

Re: Citi Custom Cash CLD

Blender — Wed, 17 Jan 2024 13:51:15 GMT

While you dont use it and 22k less available credit might not hurt you, lowering your AAoA will have greater effects. As mentioned, closing it just because they lowered your CL isnt the right move. Let them lower it some more... keep it for the age and the benefits it gives.

Re: Citi Custom Cash CLD

NoMoreE46 — Wed, 17 Jan 2024 13:56:17 GMT

When did you get the custom cash card?

Re: Citi Custom Cash CLD

sftechiegirl — Wed, 17 Jan 2024 14:00:50 GMT

@NoMoreE46 wrote:
When did you get the custom cash card?

This Citi Card was originally a double cash. The card itself is 19 years old. I PCd it from DC to CC a year or two ago. My oldest card are my 2 Amex cards. They're both 30 years old each.

Re: Citi Custom Cash CLD

NoMoreE46 — Wed, 17 Jan 2024 14:08:54 GMT

Aah very good. It is probably the admitted low usage for the CLD.

With no AF, I would keep this open.

Re: Citi Custom Cash CLD

Anonymous — Wed, 17 Jan 2024 15:14:38 GMT

I would only close if you were considering closing it anyway (before the CLD) for the usual reasons, sucg as not useful, one less card to track. Otherwise it's still got a great CL, way above what is needed to maximize rewards on the card.

Re: Citi Custom Cash CLD

ptatohed — Wed, 17 Jan 2024 16:12:46 GMT

$200 - $400 spend per month is not extremely low use. Assuming you are using it for 5% purchases, that's $120 - $240 in CB per year. Not something I would want to give up.

Re: Citi Custom Cash CLD

SouthJamaica — Wed, 17 Jan 2024 16:58:08 GMT

@sftechiegirl wrote:
Citibank lowered my credit limit from $33k to $22k. I do not carry a balance on the card, other than the monthly $200-$400 statement balance that I pay off every month. My FICO score is around 806-809 and overall usage is 1%. I have a feeling the limit was lowered because I don't use the card as much as they want me to.

I am wondering if I should just close the card. My total available limit among all the cards is over $300k, so closing the card won't effect my usage that much. It is one of my oldest cards though, but I do have several other cards that are older.

It's a good card, with no annual fee. So if I were you I would not close it.

Re: Citi Custom Cash CLD

Kforce — Wed, 17 Jan 2024 18:25:10 GMT

@sftechiegirl wrote:
Citibank lowered my credit limit from $33k to $22k.
I do not carry a balance on the card, other than the monthly $200-$400 statement balance that I pay off every month.
My FICO score is around 806-809 and overall usage is 1%.
I have a feeling the limit was lowered because I don't use the card as much as they want me to.

I am wondering if I should just close the card.
My total available limit among all the cards is over $300k,
so closing the card won't effect my usage that much.
It is one of my oldest cards though, but I do have several other cards that are older.

It's old, you only use it for the 5% <= $500 month spend, have >300k Cl's and are mad

because they lowered you CL to 22k.

If closing the card won't effect your usage, neither will the lower CL.

Re: Citi Custom Cash CLD

Wavester64 — Wed, 17 Jan 2024 21:29:08 GMT

@1LostArk wrote:
I personally don't see a point in closing no AF cards.

I agree 100%

Re: Citi Custom Cash CLD

Anonymous — Wed, 17 Jan 2024 23:44:45 GMT

@Wavester64 wrote:
@1LostArk wrote:
I personally don't see a point in closing no AF cards.
I agree 100%

Just as many of us don't see a reason to keep cards we would never use, especially if we have to end up using them for small keep-alive charges.

Re: Citi Custom Cash CLD

sftechiegirl — Thu, 18 Jan 2024 01:38:40 GMT

@Anonymous wrote:
@Wavester64 wrote:
@1LostArk wrote:
I personally don't see a point in closing no AF cards.
I agree 100%
Just as many of us don't see a reason to keep cards we would never use, especially if we have to end up using them for small keep-alive charges.

That's where I'm at with this card.

Re: Citi Custom Cash CLD

mgood — Thu, 18 Jan 2024 02:16:47 GMT

@ptatohed wrote:
$200 - $400 spend per month is not extremely low use. Assuming you are using it for 5% purchases, that's $120 - $240 in CB per year. Not something I would want to give up.

I see this card as being good for 5% back on one category for up to $500 spend per month. If I spend $500 and couldn't pay it off one month, or I forgot or whatever and the balance reported, that's only 2% utilization with your $22k limit. Plenty of headroom, IMO. If I had a handful of Custom Cash cards, I could get rid of most of my other cards, lol.

Re: Citi Custom Cash CLD

Drifter73 — Thu, 18 Jan 2024 02:47:19 GMT

MyFICO is full of members trying to get multiple custom cash cards, let alone one.

I think there's very good reason for the custom cash to be on everyone's radar to have in their card deck.

I may be PCing to a second custom cash by the end of 2024 myself, finally.

Like others said, I don't see the benefit of canceling a custom cash card with no af.

Even with a $500 max cap per mo for 5% cashback, that's $25 per month x 12 mos = $300 per year. Plus, the custom cash allows you to ACH cash back into a 3rd party deposit account (ideally a HYSA that you just keep stacking for the next 10, 20, 30+ years).

We all do things differently though.

Re: Citi Custom Cash CLD

Anonymous — Thu, 18 Jan 2024 15:32:01 GMT

@Drifter73 wrote:

Even with a $500 max cap per mo for 5% cashback, that's $25 per month x 12 mos = $300 per year. Plus, the custom cash allows you to ACH cash back into a 3rd party deposit account (ideally a HYSA that you just keep stacking for the next 10, 20, 30+ years).

We all do things differently though.

I think that is slightly over-stating the value! The $25 per month is a maximum, and not everyone is going to max out every month. And even if you do, a more real value is $15, as you could be using a flat 2% card on everything. Sure, "up to" $180 a year isn't nothing, but it also isn't very much, and for some it's not worth bothering with an extra credit card.

And bringing in 30 years interest on HYSA, well, that sort of applies to everything, including saving even more by spending less.

Re: Citi Custom Cash CLD

Drifter73 — Thu, 18 Jan 2024 16:05:19 GMT

@Anonymous wrote:
@Drifter73 wrote:

Even with a $500 max cap per mo for 5% cashback, that's $25 per month x 12 mos = $300 per year. Plus, the custom cash allows you to ACH cash back into a 3rd party deposit account (ideally a HYSA that you just keep stacking for the next 10, 20, 30+ years).

We all do things differently though.
I think that is slightly over-stating the value! The $25 per month is a maximum, and not everyone is going to max out every month. And even if you do, a more real value is $15, as you could be using a flat 2% card on everything. Sure, "up to" $180 a year isn't nothing, but it also isn't very much, and for some it's not worth bothering with an extra credit card.

And bringing in 30 years interest on HYSA, well, that sort of applies to everything, including saving even more by spending less.

In today's economy, With high food prices, who doesn't spend at least $500 per mo. In groceries?

I suppose singles with no children might stay under $500, but I would guess most could easily hit or exceed that in groceries.

So hitting $25 a month cb isn't that unrealistic in my opinion.

Re: Citi Custom Cash CLD

DXness — Thu, 18 Jan 2024 16:41:54 GMT

I wouldn't be offended at losing that limit when you still have $22K for a $500 cap. Plus, it's such a flexible card with no AF, I'd never close it.

If someone doesn't max the cap every month, it's still better than putting everything on a 2% card. I'd still use it for category spend vs a flat 2 even if I had 30 cards to manage.

Re: Citi Custom Cash CLD

Anonymous — Thu, 18 Jan 2024 17:41:07 GMT

@Drifter73 wrote:
groceries?

I suppose singles with no children might stay under $500, but I would guess most could easily hit or exceed that in groceries.

So hitting $25 a month cb isn't that unrealistic in my opinion.

I think you will find people here who don't hit the cap on the BCE/BCP. But anyway, as I said I view the comp as $15, over a flat 2% card