Large CLI -W/ Citi - Very Bitter/Sweet

[Anonymous]

I'm new here, so I don't know how to do anything fancy, like quote part of what someone else has said and reply to just that, so bear with me

If you are worried about having a higher credit limit because of past issues like gambling (or just plain not being responsible with credit, like I was) then maybe arrange for a recurring payment like a gym membership or Netflix or something? After you set up autopay to pay the balance in full, which would only be whatever the small-ish amount you've arranged is, cut up/freeze/hide your card so you aren't tempted to use it, but the high CL helps your overall utilazation. It's my understanding that as long as you are regularly using a card, even if it's a relatively small amount compared to your limit, it looks good to the lenders....please correct me if I'm wrong!!

[CreditUnionFan]

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@changingmantra2 wrote:

Hell All -

My signature says it all  -  I am not a fan of having a lot of cards  - and I am actually looking to close one - most likely my Simplicity. I have had it since 7/13 - with an initial CL of $5000.  Tonight, I called Citi to ask if my TYP card is a Signature Visa - and then again to ask about consolidating the lines on the two cards and closing the Simplicity.  I have asked before and was always told - no.  Tonight - the new rep confirmed what I suspected, reps think I am asking because I want a higher CL.  I told him I did not - and that I was cool with what I have, but I was interested in knowing how Citi would eventually give auto CLIs on my TYP, which I have only had since 12/13.

[...]

So - here I am with the second highest CL of my 7 cards - on a card that I rarely use - and can find no use for.  I should be jumping for joy - and yet  - I really feel sick to my stomach. 

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As others have pointed out, inquiries become less important time. If there is a line of credit you want, lenders will start thinking about that inquiry a lot less as the inquiry is six months, or a year old. 

Inquiries by themselves aren't horrible either, especially with three bureaus that they are spread between.

The one consolation is that once other lenders see a higher CL, it provides justification/rationale for ask for a higher CL with the card you want, or for them to raise their CLs on their own.  Higher limits lead to other higher limits. So, taking a HP to get Citi to raise the limit may have some benefit anyway.

[Anonymous]

Congrats on the CLI! Appreciate your sharing about Citi and confirming what others have suspected about CL consolidating with Citi. Citi seems to have some interesting interpretations of the Federal Credit Card Act that other major issuers don't share. How can this be?

[alvon123]

congrats

[BigBS]

Understand your feelings, but congrats nonetheless!  Take the lessons you have learned over the last few years and put them to work to keep yourself on the right path.

[Anonymous]

Congrats!

[vpae]

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@changingmantra2 wrote:

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@vpae wrote:

I know it was bitter-sweet but congrats nonetheless.

OP, I'm curious now. What does your online CLI screen say for your Citi cards? SP? HP?

(Refer to - http://ficoforums.myfico.com/t5/Credit-Cards/Permanent-Citi-SP-CLI-Luv-Button/td-p/2922584)

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Thanks Vpae -  The link is not working - and I logged into my account and I do not see a CLI screen.  I tried searching CLI on the page - but I keep getitng a strange error message  when I do - for both the Simplicity and TYP.

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Sorry about that! It included the ) at the end and messed up the link.

Here's how you find the CLI page.

http://ficoforums.myfico.com/t5/Credit-Cards/Permanent-Citi-SP-CLI-Luv-Button/m-p/2929138#M831203

Here's the screen shot of what the SP and HP screens look like

http://ficoforums.myfico.com/t5/Credit-Cards/Permanent-Citi-SP-CLI-Luv-Button/m-p/2923880#M829807