CITI; Move credit lines

[icloud2525]

So I decided to trim 2 of my 4 CITI cards today and was able to move the CL's to other cards. Cancelled the dividend and diamond and moved limits to TYP and Hilton. It was a hard pull (booo) and I had to leave $1k on each card and was able to move the rest. Next up is Chase when I cancel CSP and move limit to CSR. 

[LuckyBird]

That's interesting.  I just called in last week to try and move my Simplicity credit line to the Double Cash, and the CSR told me they don't move credit lines.  boo!

[Anonymous]

A hard pull for moving credit lines!? Ouch! 

They need to get on Chase's level! 

[icloud2525]

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@LuckyBird wrote:

That's interesting.  I just called in last week to try and move my Simplicity credit line to the Double Cash, and the CSR told me they don't move credit lines.  boo!

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Ask to speak to an account manager, the CSR's don't know anything. 

[mikelo22]

You can also move lines with the same hard pull that you use to app for a card.  I've had success doing that twice.  At least this way it didn't seem like quite a waste of a HP.

[Berk]

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@LuckyBird wrote:

That's interesting.  I just called in last week to try and move my Simplicity credit line to the Double Cash, and the CSR told me they don't move credit lines.  boo!

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The CSR is right - Citi does not move credit lines. Here's how it works with Citi - They do a credit limit increase on the card that you want more spend on and a credit limit decrease on the card you want to move your limit from. Thus, the HP.

In other words, you went to the grocery store and purchased 10 apples. Naturally, you had to pay for those apples. A week later you went back to the same grocery store and bought 5 more apples and paid again. So now you have two storage bins of apples at this grocery store. You keep all your apples at this grocery store and only pull one out of your inventory when you want to eat it. Now you decide that you want to combine your apples into one basket so that you will have all 15 in one place. The grocery store tells you; "Oh, we don't do that." You say, "What do you mean you don't do that? Every other grocery store that I deal with is happy to move my apples from one pile to another." "Not here; You have to buy 5 more apples from us if you want a total of 15. We will take 4 of your apples from you to sell to other customers and will keep one in your basket just so the basket isn't empty but you won't have access to it anymore."

Kinda sucks but they can do it however they want.

[Anonymous]

Your findings match mine except, they only required me to leave behind $500 on a zero balance card (makes me wonder if they are really using the credit line left behind as a method to reduce their risk?).

[noobody]

I would never take a HP to move credit line on Citi cards, they have SP CLI available every 6 month, if you are credit worthy, you will get back those CL fairly quick.

[Anonymous]

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@noobody wrote:
I would never take a HP to move credit line on Citi cards, they have SP CLI available every 6 month, if you are credit worthy, you will get back those CL fairly quick.

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At some point you will lose the ability to get CLIs that way because you have reached your internal limit with Citi.  If you have multiple cards with Citi and want to close one out then 'transferring' the linit to another card may be your only way of getting a CLI and not losing overall credit limits.  You're never going to get as much of a CLI thru a SP as you would by taking the HP and moving limit that they have already extended you.

[kdm31091]

Citi does offer SP CLI but it is not going to match what you will get by moving limits or taking a HP CLI. The SP CLIs are generally pretty small (albeit better than nothing).

HP for moving limits is annoying but unless you have major other app plans it's probably not that big of a deal, and lets you accomplish what you want quickly with no new tradeline. The HP by itself is not a big deal.