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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!!!!
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.
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.
@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.
@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.
@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.
"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?
@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.
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.”
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!