topic Re: Citi Costco CLD in Credit Cards

Citi Costco CLD

AMJ50 — Sat, 15 Jun 2024 00:45:17 GMT

I was not surprised by this action, $7100 to $4000. My balance is $3700. I didn't pay the balance off in full the last two months. DTI 24% 723 Exp, the rest not sure. I hope they don't mess with my Macy's Amex CL of $24600. I have over $130,000 in credit lines.

Re: Citi Costco CLD

FicoMike0 — Sat, 15 Jun 2024 01:02:54 GMT

Sorry to hear that. I didn't know that a 52% balance would trigger CLD.

Re: Citi Costco CLD

FicoMike0 — Sat, 15 Jun 2024 01:04:00 GMT

I thought a dti < 25% was good, too.

Re: Citi Costco CLD

nytokyobred79 — Sat, 15 Jun 2024 03:50:51 GMT

Sorry to hear about the CLD. Is most of the debt with Citi? Am also a bit surprised that they CLD'd you as well assuming that your 25% DTI is not all credit card debt. Anything else on your profile that may have concerned them?

Regardless, I hope you can get your credit limit back once you reduce your balance on Citi, etc.

Re: Citi Costco CLD

CreditPoor — Sat, 15 Jun 2024 13:36:58 GMT

People who carry balances month over month with higher credit limits will be seeing much more of this, likewise those with large credit limits who don't use them.

Re: Citi Costco CLD

Jordan23ww — Sat, 15 Jun 2024 14:08:18 GMT

So sorry to hear about the limit reduction! I have a long love/hate relationship with Citi going back as far as 22 years ago! They can be the absolute worst when it comes to credit and loans, at times! I sincerely hope you are able to get your limit back to what it once was asap and even surpass what it was before this reduction! Best wishes to you moving forward!

Re: Citi Costco CLD

keekers — Mon, 17 Jun 2024 18:35:43 GMT

Sorry for the CLD; no fun.

Re: Citi Costco CLD

Pppoolboy — Mon, 17 Jun 2024 20:03:29 GMT

I absolutely cannot stand Citi. Along with PenFed it's one bank I will never use again. But their Costco card is one of their most... "liberal" shall we say. That is, more generous underwriting. Easier to get, easier to keep, easier to keep CLs. So it's weird to see someone being balance chased on it.

This reminds me of 2008 and 09 when banks started reining in everything. I was balance chased by Capital One back then. Started happening to several people I knew, out of the blue.

Re: Citi Costco CLD

CreditPoor — Mon, 17 Jun 2024 21:28:19 GMT

2008 and 2009 is nothing compared to the storm we are headed into. Inflation is out of control and the dollar is rapidly decreasing in value. Banks will do more than balance chase in the next few months. I'd recommend fortifying your relationships with credit unions if you can. The big banks will be the first to start majorly chopping limits

Re: Citi Costco CLD

Baha3 — Mon, 17 Jun 2024 22:08:25 GMT

Sorry to hear, I wonder what triggered it? I imagine its automated by the system and isn't reviewed manually by the creditor

Re: Citi Costco CLD

SouthJamaica — Tue, 18 Jun 2024 03:57:52 GMT

@AMJ50 wrote:
I was not surprised by this action, $7100 to $4000. My balance is $3700. I didn't pay the balance off in full the last two months. DTI 24% 723 Exp, the rest not sure. I hope they don't mess with my Macy's Amex CL of $24600. I have over $130,000 in credit lines.

Bummer. Looks like they're balance chasing you.

Re: Citi Costco CLD

NAVYCHOP — Thu, 20 Jun 2024 06:07:09 GMT

I personally think that Citi Costco has been one of the tightest cards in my portfolio. With some of the lowest interest rates among Citi cards, I would not think that their underwriting is that loose.

I started with a Costco AMEX card that was converted to a Citi Costco card with a 9,900 CL. I never made a late payment, always paid in full. Suddenly when I had high debt on other cards, Citi lowered my CL overnight from $9.9k to $500 based on high debt. None of my other creditors balanced chased me including the Citi AA Exec card that left me with a $20k line. Now that I have FICO 8 scores around 807 and Citi shows 847 out of 900 on the Credit card FICO 8 score, I have spent three years with requested CLIs to bring the card back from $500 to $3k. Recently when I asked for another CLI, I was denied based on two credit inquiries seven months ago on Experien. The same month when Citi Costco this year denied a CLI, I subsequently asked for a CLI on the AA Exec card and received an instant increase from $20k to $27k. I then also called Citi Macys card the same month and received a CLI from $3k to $10.5k. I basically use the Costco card for the 4 percent gas and use the AAA card to buy at Costco so as a gasoline card the Citi Costco CL is fine with me for the time being.

Re: Citi Costco CLD

Dancingbear45 — Wed, 26 Jun 2024 19:31:11 GMT

I'm sorry to hear that. The CLD was probably completely computer generated.. Banks look at overall utilization as well as individual accounts. But I'm surprised to hear that the CLD so quickly if you typically PIF each month. Have you tried calling them to see if you can get your credit line back?