cancel
Showing results for 
Search instead for 
Did you mean: 

Citi Diamond preferred

tag
Anonymous
Not applicable

Citi Diamond preferred

I closed this account today due to being with them for 4 years and never having a credit limit increase.

my util has always been 10% and my scores are: Equi- 662, Exp- 670, Trans- 659, i have one charge off from 2011, i have $ 12000 total credit limit across 5 cards, not because i cant get more but because ive chosen to keep my cards at a low limit but i asked citi for a increase and have been denied everytime, i make $130,000 a year so income is not an issue, i have a discover that has a $3000 limit and its only been open for 6 mos and i called them and spoke to a rep about an increase and they offered $2000 but i turned it down, that was basically to see if i could get one, citi is the worst about increases, i have 2 auto loans for $96,700 that is reporting paid on time as agreed. cap1 cards ( 4 ) all paid as agreed on time, no lates, no delinquents, so had to get rid of them, btw, my citi has been at $200 for 4 years, bye bye citi, discover is where im focusing my time and energy and money!!!!

Message 1 of 19
18 REPLIES 18
Rebuild2019
Valued Contributor

Re: Citi Diamond preferred

Hello,

I’m no expert, but it was probably the amount of the two auto loans. Good luck to you.

CARDS: Discover It | Kohl’s | Truist Spectrum Cash Rewards | Truist Bright | CITI Custom Cash | Chase Freedom Flex | Chase Amazon Prime Visa | VACU Cash Rewards Mastercard | Sam’s Club Mastercard | PenFed Gold Visa | NFCU CashRewards | NFCU More Rewards | NFCU Platinum Visa | AMEX BCE | Verizon Visa | Wells Fargo Active Cash | Amazon Prime | NFCU Auto Loan
Starting Scores 05/2019: EQ:519, EX:525, TU:574

CLOSED : Capital One Quicksilver One | OpenSky |
Message 2 of 19
coreysw12
Valued Contributor

Re: Citi Diamond preferred

Why would you turn down the 66% CLI on your discover card?

 

And why not try to PC your Citi DP into a different Citi card that fits your needs better, instead of cancelling it outright? It might come with a CLI afterwards, too. I agree, though, that $200 is a really lousy limit, especially for a card that's designed primarily for transferring balances to it.

 

My Citi DP hasn't had a CLI in ages, either. I think it's been stuck at $3100 for at least 5 or 6 years now. Pretty sure they bucketed it. I'm going to see about having them change it into a DoubleCash soon.

    Total Loan Balance: $43k / $65k


    Total SL: $78k

United 1K - 725,000 lifetime flight miles    |    Chase Status: 4/24
Message 3 of 19
KJinNC
Valued Contributor

Re: Citi Diamond preferred

Is there a mathematical reason to ever refuse a credit limit increase? I thought it's basically always positive? I know there could be some specific case where you'd decline an offer to increase CL on a card you were calling to close, and you still want to close it, or something like that.



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 4 of 19
800FICOGoal
Established Contributor

Re: Citi Diamond preferred


@Anonymous wrote:

I closed this account today due to being with them for 4 years and never having a credit limit increase.

 i have one charge off from 2011....


Why is there a CO from 2011 still on your report? That should have fallen off last year.

 

Was the Citi card your oldest? If so, I would have just SD'ed it since its a no AF card or PC'ed to another card as mentioned above.

 

 



Rebuild Cards

Goal Cards

Loans
Message 5 of 19
coreysw12
Valued Contributor

Re: Citi Diamond preferred


@KJinNC wrote:

Is there a mathematical reason to ever refuse a credit limit increase? I thought it's basically always positive? I know there could be some specific case where you'd decline an offer to increase CL on a card you were calling to close, and you still want to close it, or something like that.


That's what I thought, too. Or maybe if you don't trust yourself not to overextend yourself with a higher limit?

 

I dunno, I'm generally of the opinion that closing anything is bad unless there's an annal fee. The more old accounts reporting, the better.

    Total Loan Balance: $43k / $65k


    Total SL: $78k

United 1K - 725,000 lifetime flight miles    |    Chase Status: 4/24
Message 6 of 19
M_Smart007
Legendary Contributor

Re: Citi Diamond preferred

 


@Anonymous wrote:

I closed this account today due to being with them for 4 years and never having a credit limit increase.

my util has always been 10% and my scores are: Equi- 662, Exp- 670, Trans- 659, i have one charge off from 2011, i have $ 12000 total credit limit across 5 cards, not because i cant get more but because ive chosen to keep my cards at a low limit but i asked citi for a increase and have been denied everytime, i make $130,000 a year so income is not an issue, i have a discover that has a $3000 limit and its only been open for 6 mos and i called them and spoke to a rep about an increase and they offered $2000 but i turned it down, that was basically to see if i could get one, citi is the worst about increases, i have 2 auto loans for $96,700 that is reporting paid on time as agreed. cap1 cards ( 4 ) all paid as agreed on time, no lates, no delinquents, so had to get rid of them, btw, my citi has been at $200 for 4 years, bye bye citi, discover is where im focusing my time and energy and money!!!!


I will try to keep this "FSR"

 

"i make $130,000 a year so income is not an issue"
"i have 2 auto loans for $96,700 that is"

 

I am not sure if that 130K is a Gross or Net Figure??, but either way, $96,700 Car Loan Debt with 130k Income,

ummm, that could be consitered as a debt to income problem?. There is obviously something wrong as to why,

that you are getting a $200 limit. and No Increase.?

 

"but because ive chosen to keep my cards at a low limit but i asked citi for a increase and have been denied everytime,"

 

so if i get this right, you want low limits, but ask for an increase, then if you do not get it, you close the card?

None is better than $200?, and if you think you are punishing Citi, for closing the card due to no CLI.Smiley LOL

 

"i have a discover that has a $3000 limit and its only been open for 6 mos and i called them and spoke to a rep about an increase and they offered $2000 but i turned it down, that was basically to see if i could get one."

 

Myself, from $3000 to $5000 is pretty generous of Discover, you probably should have taken it.

 

OHmyFICO, am I missing something here?

Message 7 of 19
Remedios
Credit Mentor

Re: Citi Diamond preferred


@Anonymous wrote:

I closed this account today due to being with them for 4 years and never having a credit limit increase.

my util has always been 10% and my scores are: Equi- 662, Exp- 670, Trans- 659, i have one charge off from 2011, i have $ 12000 total credit limit across 5 cards, not because i cant get more but because ive chosen to keep my cards at a low limit but i asked citi for a increase and have been denied everytime, i make $130,000 a year so income is not an issue, i have a discover that has a $3000 limit and its only been open for 6 mos and i called them and spoke to a rep about an increase and they offered $2000 but i turned it down, that was basically to see if i could get one, citi is the worst about increases, i have 2 auto loans for $96,700 that is reporting paid on time as agreed. cap1 cards ( 4 ) all paid as agreed on time, no lates, no delinquents, so had to get rid of them, btw, my citi has been at $200 for 4 years, bye bye citi, discover is where im focusing my time and energy and money!!!!


 

Welcome to the forums...

 

I am a little bit confused here. You closed one card because of no CLI, but then you stated you like to keep your limits low and declined CLI on Disco card. If you dont need or use cards, it's perfectly okay to close them, less things to manage, but your actions here are quite contradictory. 

 

In any case, good luck to you. 

Message 8 of 19
pinkandgrey
Senior Contributor

Re: Citi Diamond preferred

I’ll be the odd one out here lol. Good for you, closing it down! I would (and DO) personally close ANY card I don’t want anymore. Even if it was my oldest by 20 years lol 

Regardless of the reasons for not getting CLIs on that card, I’m 100% behind you closing it if it isn’t working for you. 

It’s a good feeling getting rid of extra card “weight.”

Discover It: 21.5k
Amex Cash Magnet: 18k
Fidelity Visa: 13k
Apple Card: 4.25k
Message 9 of 19
KJinNC
Valued Contributor

Re: Citi Diamond preferred

I agree that a $200 card isn't of much value in your situation, and I agree it's weird that others are offering you CLIs but Citi will not, and I agree that closing the card is harmless to you, so if it bugs you, why not close it.

 

What I don't understand is why you want low CLs, or why you would close a card with a low CL if you want low CLs, or why you would turn down a CLI from Discover or any other card you are not in the process of closing.

 

Pretty much I am confused on the details, but on the main point of closing the card, go for it, sounds harmless. Good luck!



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 10 of 19
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.