Just wanted to share some data points from my last 2 Citi Custom Cash limit increase denials! I have been asking for a limit increase every 6 months. My last successful limit increase was on 1/2/23. So by calculations I should have been eligible for another limit increase on 7/3/23. I decided to wait a little longer though to ask because I had added a few accounts late last year and 2 this year that pulled Equifax and 1 for a hard pull limit increase with Citi on the Best Buy card, and so I wanted to make sure they were a little older.
I asked for a limit increase on 8/3/23 and was 2/6 and 2/12 on new accounts. I got denied for having too many recently opened accounts. I decided to wait until October to ask again after those accounts had turned over 6 months old. On 10/12/23 the last account turned 6 months old. So on 10/13/23 I asked for a limit increase. This time I got denied for a limit increase for having too many recent inquires. I was currently 0/6, 3/12 and 7/24 on inquires on Equifax.
Later in the letter they gave some tips to help improve my chances of approval in the future. They said, "Limit the number of credit cards or loan account applications submitted within a 6 month period. I am not sure if I was denied because of the total number of inquiries on Equifax which they used for their decision, or perhaps they used a soft pull that hadn't updated that my inquiries are 0/6 right now. Figured I'd share this just for data. I use this card monthly for gas normally, but last month I used it for theater tickets to a travelling Broadway play. Typical spend is $300 to $500 a month.
Equifax Inquiries:
4/8/23 US Bank Shopper Cash application/approval
2/10/23 Citi Best Buy CLI request/approval
2/2/23 Chase Ink Unlimited application/approval
12/1/22 Chase Ink Cash application/approval
5/1/22 Citi Custom Cash application/approval
1/24/22 Citi Best Buy CLI request/approval
12/2/21 US Bank Cash + application/approval
@JoeRockhead wrote:Bummer on the denials, but great for you to share all the DPs as they provide others with more proof as to how sensitive Citi can be to inquiries and new accounts, sorry to hear about your denials, but extra Kudos for sharing all the info. I'm sure you'll get the CLI down the road.
@JoeRockhead Thank you so much! Happy to be the guinea pig and share info if it can help even just one person! Now I'm starting to wonder which date Citi used for their credit soft pull? I get a free Fico 8 Bankcard score from them and that was dated 9/26/23. If that is also the date of the info used for this determination then I'd still be 2/6 in their eyes. Like you mentioned I'm sure I'll get another increase approval eventually. Since they are more sensitive than other card issuers I wanted to try and get an increase before my wife's Capital One Venture X reports on the 24th (Assuming it will report this month. This will be our 2nd statement since opening the card). Thank you again!
@Roisin wrote:Disappointed for you regarding the no-go on the CLI you were looking for; still, I appreciate the details you've graciously shared here. All good to know. Plus, your experience reaffirms what I've read more than once regarding Citi's practices. Hopefully, with a bit more wait time and nothing new to report, you'll get your CLI in the next round!
@Roisin thank you so much! Also you're welcome! Happy to share these data points! I was hoping others, like yourself, would find them helpful!
