topic Re: How does a Citi World MasterCard report? in Credit Cards

How does a Citi World MasterCard report?

Zar — Wed, 01 Sep 2010 23:03:01 GMT

Hello!

I just got a letter from Citi telling me that my Citi Diamind Preferred Rewards has been upgraded to a "World MasterCard"... Does this mean that my card will stop reporting my credit limit and that the balance I have on it will be taken as the new limit and it will appear to the CRAs as a maximized card? Should I call and ask them to downgrade my card to its previous status?

Thanks so much in advance,

Zar

Re: How does a Citi World MasterCard report?

fused — Wed, 01 Sep 2010 23:04:49 GMT

The CITI World Master Card might or might not report a CL or a high balance. When no CL is reporting, FICO then looks to see if a "highest balance" is reporting. If a CC doesn't have a CL and a highest balance reporting, the card will not factor in FICO revolving utilization calculations. Here is how my CITI World MC reports on my reports:

EQ: reports CL and balance, but no highest balance (factoring in FICO util scoring)

EX: no CL, but reports highest balance and balance (factoring in FICO util scoring)

TU: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)

Re: How does a Citi World MasterCard report?

fused — Sun, 05 Sep 2010 20:13:59 GMT

Update!

Originally reported as:

EQ: reports CL and balance, but no highest balance (factoring in FICO util scoring)

EX: no CL, but reports highest balance and balance (factoring in FICO util scoring)

TU: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)

Changes as of today:

EQ: reports CL and balance, but no highest balance (factoring in FICO util scoring)

EX: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)

TU: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)

Re: How does a Citi World MasterCard report?

Zar — Sun, 05 Sep 2010 20:29:57 GMT

Hello Fused,

Can we assumed the way it reports to EX is good? What if this card were the highest CL?

Zar

Re: How does a Citi World MasterCard report?

fused — Sun, 05 Sep 2010 20:45:04 GMT

@Zar wrote:

Hello Fused,

Can we assumed the way it reports to EX is good? What if this card were the highest CL?

Zar

For me, the way my CITI World card is currently reporting on EX is a good thing. Its the only card I have reporting a small balance. This ensures maximum FICO points for util. That said, there are some benefits to having one of these cards if its not reporting a CL and high balance. You can carry a big balance and it won't trash your FICOs.

I'm not sure I understand your question.

Re: How does a Citi World MasterCard report?

Zar — Sun, 05 Sep 2010 21:05:45 GMT

I meant if this card has your highest credit line... is this a positive or negative thing?

Zar

Re: How does a Citi World MasterCard report?

fused — Sun, 05 Sep 2010 21:28:15 GMT

Seeing that you understand how this card might report with each bureau, it really doesn't matter if this card is your highest CL. The trick is to watch your util, so that if any of the bureaus report a CL or high balance for this card, make sure you don't have a big balance reporting.

Re: How does a Citi World MasterCard report?

Anonymous — Wed, 08 Sep 2010 15:07:12 GMT

@Zar wrote:
I meant if this card has your highest credit line... is this a positive or negative thing?
Zar

Zar, do you have balances on your other cards? If so, then this may be a negative for you. It might increase your overall % utilization if this credit limit is not used in the calculations.

Something else to consider...if this is your highest limit card by far, and if your report won't show you as having a high limit card... getting another high limit card may be a bit tougher, as nobody wants to be first.

As always, this post is subject to correction from other members.

Re: How does a Citi World MasterCard report?

Anonymous — Wed, 08 Sep 2010 15:16:18 GMT

Zar wrote: ...I just got a letter from Citi telling me that my Citi Diamind Preferred Rewards has been upgraded to a "World MasterCard"...

BTW, Zar, I received a letter, too...I'm just not sure if the card is actually being converted, or if I'm just getting additional benefits a la World Mastercard.

The wording is somewhat vague, but I'm more inclined to believe that the card itself may not be changing, just the benefits attached to it.

I guess we'll both find out soon enough.

Re: How does a Citi World MasterCard report?

ArisGreek — Sat, 25 Sep 2010 13:17:40 GMT

Hm, that's interesting. I have the American Airlines Citi World Mastercard and it doesn't display credit limit on EQ and does not factor in my utilization on EQ. As far as EX or TU, not sure. While I do have a limit on my statement, I've mentioned before that there is also no pre-set spending limit, so I can spend over my limit without penalty as long as I go under my limit by the time the next statement is out.

Re: How does a Citi World MasterCard report?

kbell — Sat, 25 Sep 2010 15:07:12 GMT

fyi, when Citi changed my card to a World Mastercard, no new tradeline was added to my TU report. That is, instead of showing the Citi Mastercard tradeline closed and adding another tradeline for Citi World Mastercard, they took the existing Citi tradeline and changed the account number and changed the credit limit to 'not reported'. Everything else remained the same. I hope that makes sense.

Re: How does a Citi World MasterCard report?

AndySoCal — Tue, 28 Sep 2010 02:09:32 GMT

What CIti is offering you is what is called a no preset spendi limit account. It sounds great but it is not. The article below will detail why.

http://www.bankrate.com/brm/news/cc/20060331a1.asp

I had one but I closed it when CIti refused to reverse the "upgrade". I have other cards.

Re: How does a Citi World MasterCard report?

ArisGreek — Tue, 28 Sep 2010 13:43:58 GMT

How is it any different than anAMEX charge card then? The AA Citi World Mastercard is not being factored into my utilization ratio on EQ. I think that's great, no?

Re: How does a Citi World MasterCard report?

AndySoCal — Thu, 30 Sep 2010 02:00:41 GMT

My Citi account was reporting no credit limit and no high balance or high credit and a revolving account. I dont like Amex (Green ) either I dont think the card is worth the annual fee ( my opinion). Some of the stories I have read about Amex do not help either. Depends on how you calculate the credit utilization if the Amex card is included or not. If the formula is the total credit card balances divided by total credit limits then it is included. if the formula is total revolving credit card balances / divided by total credit limits then the Amex card depending on the card is not included. The key is how the card is reported.

Re: How does a Citi World MasterCard report?

vanillabean — Wed, 29 Sep 2010 03:11:51 GMT

@fused wrote:
Update!

Originally reported as:

EQ: reports CL and balance, but no highest balance (factoring in FICO util scoring)
EX: no CL, but reports highest balance and balance (factoring in FICO util scoring)
TU: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)

Changes as of today:

EQ: reports CL and balance, but no highest balance (factoring in FICO util scoring)
EX: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)
TU: no CL or a high balance, but reports just the balance (not factoring in FICO util scoring)

My World MC reports neither the credit limit nor the high balance for any of the three CRAs.

Except when the payment history is included in the reports, which happens with say the free annual reports. Then TU and EX list the high balance in the high balance field.

Could it be that the CRAs calculate the high balance based on the payment history? Is it mandatory that the annual reports include the payment history, in which case it's obvious what the high balance should be?

Re: How does a Citi World MasterCard report?

AndySoCal — Thu, 30 Sep 2010 03:57:00 GMT

The credit bureaus only have what is reported to them by the creditor. I have seen on some credit reports a balance histroy reported. I have never seen anything that says this will be used to determine the high balnce amount if the high balance is not reported. if the creditor is not reporting the high balance why would they report the balance histroy. I have a card that reports the high balance only. Since that card started reporting that way I have lost 10 to 15 points off my score. In my opinion cards that do not report a credit limit are more of a liability to your score than anything else.

I did some more research on credit utilization spurred by the Amex question and some other comments i have read on the forum. I came accross this article. The comments on credit utilzation are from FICO. I learned some new things about credit utilization from the article and I thought had already understood it completely before I read it,

http://www.foxbusiness.com/personal-finance/2010/08/31/charge-card-balances-wont-impact-fico-credit-score/

I update my post with the link and the second paragraph.

Re: How does a Citi World MasterCard report?

fused — Thu, 30 Sep 2010 02:25:42 GMT

@Anonymous-own-fico wrote:

My World MC reports neither the credit limit nor the high balance for any of the three CRAs.

Interesting, I'm not sure why it reports differently for some people.

Except when the payment history is included in the reports, which happens with say the free annual reports. Then TU and EX list the high balance in the high balance field.

Could it be that the CRAs calculate the high balance based on the payment history? Is it mandatory that the annual reports include the payment history, in which case it's obvious what the high balance should be?

None of us should care how the CRA's calculate anything, its all about how FICO calculates everything. Of course, you know that. I'm not sure I have the correct answer for your second question.

Re: How does a Citi World MasterCard report?

Zar — Thu, 30 Sep 2010 06:25:46 GMT

Hello Uborrow-Upay,

Yes, I have balances on a few of my other cards, so definitevly (I guess) it wouldn't be good for me to lose that reporting line. A few weeks have passed now, and I haven't seen any changes to my account... it looks as though they didn't upgrad it to "World" level. I didn't get any other letters either... what abot you guys who also got such letter? By the way, I got another CLI on this card a few minutes ago, I called them after seeing the luv botton.

Have a good night and a very nice day (later), everyone!

Zar