EQ8 755, TU8 749, EX8 766 as of February 4
@firefox100 wrote:. . . total balances on all card showing 1.2K out of 297K never late.
This is my only Citi account. Last couple of statements have had $0 balance. Overall I have about $5k balance on $183k credit cards, so a little under 3%. No lates or baddies on my report.
@JtAlmond wrote:Congrats on your CLI but who actually needs a CLI on a Citi Custom Cashcard?? I wish I could see some faces and a show of hands on this lol but here's my take on the instant case:
My CCC and presumably yours is a $500 spend card. My CCC is a payment chit that I use to charge up to $500 in groceries in one billing period . The Citi app features a running tally on how much I'm spending each billing period on my CCC dedicated grocery card.. When I hit the $500 mark on groceries I will forgo using it because I've tapped its value for the billing period. I don't hear of many people chasing 1% rewards including myself so for subsequent trips to the grocery store I will whip out my Savior One card for its 3% cash back to take up what slack there is maybe $50 or $100 at the grocery store.
The CCC has done its duty for the month when it reaches its break point of $500 in rewards spending. My final statement for the month is always nearly equal to $500 out of a possible $3900 spending limit.
The Citi app has an array of merchant offers who give elevated rewards if I were to buy something from them using my CCC card. Ive yet to do but those charges would likely be insignificant and random to actually figure in. I was locked out of the site and the app these past few months because of a phone number change but I'm familiarizing myself with the merchant offers section. I see an overlapping of merchants amongst Capitalone and Wells Fargo with many of the Citi offers . As a result I have been using the WF and C1 cards to score merchant rewards if applicable.
It would make no difference to me if my CCC had a $1000 spend limit or a $10,000 spend limit, it would only be used for up to $500 at the grocery store. They're offering me up to $1200 cash advances which I don't see myself doing in the foreseeable future however but do issuers actually figure in cash advances when they compute your spending limit??With all this said how could I justify requesting a CLI?? What am I supposed to say if I were to hit them up for a CLI with a straight face??
There are other reasons to request CLIs on credit cards outside of usual monthly spend.
Specific to Citi, they have a Flex Loan where you take out a loan against your credit card's credit line with no further paperwork (or HP). It can be a good option for those who are eligible... the APR on my last offer was only 7.95%. I considered it, but the credit line on the card I wanted to use was too low to accommodate the loan I wanted to take. Hindsight is always 20/20, but if I had pursued CLIs on that seldom-used card it could have come in quite handy.
Finally, some folks just like having higher credit lines, and there's nothing wrong with that. If it's not for you, that's fine, too. To each his/her own.
@mgood, belated congrats on the CLI! 
>>Specific to Citi, they have a Flex Loan where you take out a loan against your credit card's credit line with no further paperwork (or HP). It can be a good option for those who are eligible...
I am getting this offer on my CCC and am soon to be 4/24. Does taking advantage this Flex loan affect 5/24 rule at all? I am guessing NO, but wanted to ask anyways.
@Wavester64 wrote:
>>Specific to Citi, they have a Flex Loan where you take out a loan against your credit card's credit line with no further paperwork (or HP). It can be a good option for those who are eligible...
I am getting this offer on my CCC and am soon to be 4/24. Does taking advantage this Flex loan affect 5/24 rule at all? I am guessing NO, but wanted to ask anyways.
The Citi Flex loan is not a new account; they provide funds from your existing credit line similar to a cash advance (but it's not a cash advance). Here's a thread that discusses it: https://ficoforums.myfico.com/t5/Credit-Cards/Citi-Flex-loan-questions/td-p/6688769
The Citi Personal Loan, on the other hand, is a new account (like any other traditional loan).
I get offers/pop-up boxes for both so it's easy to confuse the two. Just be sure to read the fine-print on whatever offer is presented and you should be fine.
