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Citi Custom Cash CLI

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mgood
Valued Contributor

Re: Citi Custom Cash CLI


@firefox100 wrote:

If you don't mind what was income that you reported . . .


$72k.



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 771, TU8 762, EX8 774 as of March 4
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
AZE7 - 3% Utl - New Accts: 2/6, 4/12, 6/24
Message 11 of 20
firefox100
Valued Contributor

Re: Citi Custom Cash CLI

Thank you I do not understand Citi bank they want to do a hard pull that is the problem, only thing I can think is that I have another card with them for 23.6K which brings the total to 31.6K I do spend about 200 hundred month have total balances on all card showing 1.2K out of 297K never late.

Message 12 of 20
mgood
Valued Contributor

Re: Citi Custom Cash CLI


@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. 



Starting Score: EQ8 680, TU8 713, EX8 701
Current Score: EQ8 771, TU8 762, EX8 774 as of March 4
Goal Score: EQ8 780, TU8 780, EX8 780

Take the myFICO Fitness Challenge
AZE7 - 3% Utl - New Accts: 2/6, 4/12, 6/24
Message 13 of 20
CreditAggie
Community Leader
Super Contributor

Re: Citi Custom Cash CLI

Congratulations on your Citi Custom Cash CLI!

Current Cards (in order of approval):

         
Current FICO 8 | 9 (February 2024):  
Credit Age:  
Inquiries (6/12/24):  
Banks & CUs:

Message 14 of 20
JtAlmond
Valued Member

Re: Citi Custom Cash CLI

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??

Message 15 of 20
UncleB
Credit Mentor

Re: Citi Custom Cash CLI


@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! Smiley Happy

Message 16 of 20
firefox100
Valued Contributor

Re: Citi Custom Cash CLI

I agree with UncleB, first if you had credit limit of 1,000 and you let a balance of 500 post to the account and repot cb's you would have a utilization would 50% that could tank your score and could have even citi or any of other credit issuers you may have do AA that means cutting your credit lines or chase your balances. If you had a 10K limit and had balance post and report to the CB's you would have a uitilizations of 5% that would not have that big of efect on most scoreing models.

Message 17 of 20
Wavester64
Valued Contributor

Re: Citi Custom Cash CLI

@UncleB 

 

>>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. Smiley Happy






Potential Future Cards
Message 18 of 20
UncleB
Credit Mentor

Re: Citi Custom Cash CLI


@Wavester64 wrote:

@UncleB 

 

>>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. Smiley Happy


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. 

Message 19 of 20
EAT_SLEEP_JEEP
Valued Contributor

Re: Citi Custom Cash CLI

Congrats on your cli

KEEPER EVERYDAY CARDS/ AMEX CHARLES SCHWAB PLATINUM NPSL/ AMEX GOLD NPSL / AMEX GREEN NPSL/ AMEX EVERYDAY PREFERRED $30,000 CL/ AMEX BLUE BUSINESS PLUS $5000 SL/ AMEX BLUE CASH EVERYDAY $6000 / FIDELITY REWARDS VISA $23,500 SL/ NFCU FLAGSHIP $38,000 CL/ NFCU MORE REWARDS $33,000 /

SOCKDRAWERED FNBO JEEP CARD $7700/ FNBO FORDPASS REWARDS $1000/ WELLS FARGO ACTIVE CASH $8200/ CAPITAL ONE QUICKSILVER $3000 SL/ APPLE CARD $6500/ / PAYPAL CREDIT LINE $1700
Message 20 of 20
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