Citi Bank keeps lowering credit limit

[IsambardPrince]

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@ElvisCaprice wrote:

I like Citi.  I never allow the bank to set the credit limit.  Always take it to the minimum allowed or twice what I anticipate my utilization could ever be.  Citi also allows for elimination of cash advance capabilities, a plus in my mind.

  I've used and abused them over the years and they keep coming back for more.  Love em

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Almost no bank forces you to set a cash advance PIN on a credit card.

Cash advances are the worst way you could possibly use a credit card. There's no grace period on them and the rate is usually a lot higher than even the already obscene purchase APR.

[GZG]

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@ElvisCaprice wrote:

I like Citi.  I never allow the bank to set the credit limit.  Always take it to the minimum allowed or twice what I anticipate my utilization could ever be.  Citi also allows for elimination of cash advance capabilities, a plus in my mind.

  I've used and abused them over the years and they keep coming back for more.  Love em

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lowered my citi card's cash advance limit to $0, took 10 minutes on one phone call, doing a double take with the off-shore rep to make sure they weren't about to nuke my actual credit line but we got it done

[Anonymous]

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@ElvisCaprice wrote:

  Citi also allows for elimination of cash advance capabilities, a plus in my mind.

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I agree. I eliminate mine as well.

[unsungivy]

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@Anonymous wrote:

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@ElvisCaprice wrote:

  Citi also allows for elimination of cash advance capabilities, a plus in my mind.

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I agree. I eliminate mine as well.

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Same. Or at least lower it as much as possible. Thanks for the reminder I need to do so with my newest cards 

[percdude]

I am in the same boat.  Earlier this year, citi started reducing the credit limits on my 3 credit cards.  As soon as I start paying down my balance and getting some breathing room across, they made the decision to lower my credit limits yet again.  So my credit score is taking another hit.  Funny though how they keep wanting me to move my money to their savings and investment accounts, though.  I'm obviously just a number to them and there is no way I will ever do that.  I'm going to pay down my accounts to zero and never use them again.  Not worth it!

[SouthJamaica]

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@percdude wrote:

I am in the same boat.  Earlier this year, citi started reducing the credit limits on my 3 credit cards.  As soon as I start paying down my balance and getting some breathing room across, they made the decision to lower my credit limits yet again.  So my credit score is taking another hit.  Funny though how they keep wanting me to move my money to their savings and investment accounts, though.  I'm obviously just a number to them and there is no way I will ever do that.  I'm going to pay down my accounts to zero and never use them again.  Not worth it!

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Welcome to the forum.

Sorry you're getting 'balance chased'.

They're doing it to me, too, at the moment.

Their deposit accounts invariably seem useless to me, so I've never taken out any with them.

[ElvisCaprice]

Have 3 Citi cards myself and NEVER carry a balance.  I voluntarily CLD all 3 cards ages ago to the bare minimum for my needs so as to not go afoul of utilization.  Total CL on all 3, 6K, and I barely use them, but nice to have for niche uses.  Will add a couple more next year, for long term use and SUB's.  

You can't get balance chased if you never have a balance carried.   Keep a reasonable CL for your needs and your good to go.  You control the relationship, not the bank.

[Anonymous]

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@IsambardPrince wrote:

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@ElvisCaprice wrote:

I like Citi.  I never allow the bank to set the credit limit.  Always take it to the minimum allowed or twice what I anticipate my utilization could ever be.  Citi also allows for elimination of cash advance capabilities, a plus in my mind.

  I've used and abused them over the years and they keep coming back for more.  Love em

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Almost no bank forces you to set a cash advance PIN on a credit card.

Cash advances are the worst way you could possibly use a credit card. There's no grace period on them and the rate is usually a lot higher than even the already obscene purchase APR.

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All true but missing the point.    Sometimes, especially if you do "borderline" things such as funding a bank account, a charge unexpectedly posts as a cash advance, creating all the issues you name above.   With a cash advance set to $0, the charge simply fails and you can then take other actions (use a different card, forget opening the account, fund without a card etc).

The only downside is that some of these charges initially appear as cash advances but end up posting as purchases.  If the CA limit is set to $0, the charge that is in fact OK for you is prevented.

[MyInsight53]

I just received a letter from Citi stating they are reducing the credit limit on my Double Cash Card from $17,000 to $15,060 due to “a significant portion of the credit limit not being used.”

For context, I have nine credit cards and two personal lines of credit. I always pay my cards in full every month and never carry a balance. My credit scores are currently 801 (TU), 798 (EQ), and 788 (EX). While my Citi card is mostly a sock-drawer card these days, I use it at least once a month to keep it active.

The letter mentioned that I could request the original credit limit be reinstated by calling Citi. After speaking with a representative, I was told there’s a high chance it will be restored, but it needs to go through a review process. I was informed I would receive a decision by mail in 7-10 business days.

What frustrates me is that the credit limit decrease caused a ~10-point drop in my credit scores across all three bureaus (TU was -1, EX was - 10, EQ was - 6). I understand why credit card companies make these adjustments for individuals who carry balances or don't pay in full, but I didn’t expect this to happen to someone with my credit profile.

Meanwhile, AMEX just gives me limit increases without asking for them.

Ok end of vent session.

[ElvisCaprice]

Thanks for the reminder to slash the SL immediately with Citi to my long term needs when I get 2 new cards from them in the Spring.    If your into building CL, maybe Citi isn't a good issuer for such an endeavor.  Personally I could care less about building CL's or trying to attain a perfect FICO score.  Once in the high 700's, it doesn't matter, it's their rules and their game, I refuse to let them dictate and rather turn it onto them to my advantage.