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@ptatohed wrote:I love my citi cards.
And for good reason for at least one of them ;-), I share the same sentiment.
@AndySoCal wrote:@coldfusion Citi letters warning of not enough spend was their a range in the credit limits affected ? My Citi credit limit is 11000 with a 100 to 200 a month in spend. Do you think I would get a letter?
Com'mon Andy ... if they really knew you ___ oh my?
@coldfusion Thank you for your response
@TrapLine If some creditor did reduce my credit limit the account would be closed in a heart beat so to speak. I would replace the card with a credit union equivalent if possible.
I guess I don't want a chiti card!
@FicoMike0 wrote:I guess I don't want a chiti card!
Go back to Citi Bank issuing standard and Gold Cards 1979. Over the years Citi has certainly changed their offerings. Today, they offer some usable every day card products. As to travel products they seem to be ever changing.
For most of my time, Citi has been the fill the gap where other cards may not go. As issuers ... have not found them to be a problem. Will admit they have not given me a CLI since 2014 (and, I refuse to take an HP since they know what my credit is like).
Funny thing, in all the recent years that I sat at Fico 08 850 and they ignore it (ten years). Decided to play with Fico and dropped to Fico 08 784. Hmm ... will I see Citi action? Should see a marked Fico increase as I further take hits for the "Mother Ship" (increases expected?).
@jdxprs1 wrote:I have over 100K in credit cards with under 50% utilization. Citi just chased my limit down from 10k to $400.
only a company with severe financial problems would make a move like this. I'm ending all other financial dealings with them and I recommend everyone else should do so as well.
you've been warned.
Unfortunately, this is a risk that comes with the credit card game. Your creditors will soft pull your credit report on a regular basis and if you fit a certain risk score in their algorithms, lowering your credit limits or even closing accounts can happen with just about any lender. It is not limited to only Citibank. You will find tons of data points around here if you search around. They are businesses that want to limit their exposure to risks. Seeing 50% utilization across 100k will certain raise some red flags. Over a sustained amount of time and not seeing balances go down too much will raise red flags as well. Sounds like they are scared to loan you more money because they are afraid you might not be able to pay back your debt whether true or not. They have algorithms that determine risk.
In the old days no such thing as balance chasing, max out 100k and make minimums, no poblem, even get new cards with it all maxed... today if one is to max has to be done in less than 48 hours before they find out about each other.
Probably that was back when they were at least forgiving, at least before the economy downfall and the rise of CC debts.
@gdale6 wrote:In the old days no such thing as balance chasing, max out 100k and make minimums, no poblem, even get new cards with it all maxed... today if one is to max has to be done in less than 48 hours before they find out about each other.
Citi is the 3rd largest financial institution in America. They're not going anywhere.
I'd be more concerned about that credit utilization. 50% on 100k TL is going to raise red flags not just at Citi.
The last time I had >50% overall UTIL, I was balanced chased, and I deserved it..