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Citi Diamond preferred

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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
Regular 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 | QuickSilver One | Open Sky | Kohl’s | BB&T Spectrum Cash Rewards | OverStock
Starting Scores 05/2019: EQ:519, EX:525, TU:574
Message 2 of 19
Frequent 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 CL: $21,100
Fico 8 Scores:
12/2018:
03/2019:
06/2019:
09/2019:
Goals:   550 by 12/2018 600 by 3/2019   650 by 6/2019   700 by 1/2020   750 by 1/2021 800+ by 1/2022
8 derog. (all settled 1/2019)     |     Inquiries: 10, 9, 6     |     AoOA: 10.0yr     |     AAoA: 5.2yr     |     AoYA: 0.4yr
Message 3 of 19
Established 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 8 scores are deceptively high. My profile is very young with a lot of recently opened accounts and large number of inquiries. No derogs. Over 5/24 until summer 2021.

Authorized user / Corporate

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Unsecured personal loan from Coastal, $1,000, 05/19-08/19.

Goal cards: Ducks Unlimited, Chase Sapphire Reserve (or Preferred, haven't decided). Increased CLs across the board.
Long-term goal: Legitimate 770s on EX/EQ/TU, able to qualify for most normal credit products. Prime-rate mortgage.
Message 4 of 19
Established Contributor

Re: Citi Diamond preferred


@Batwood1 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.

 

 











Current

Goal Cards

Message 5 of 19
Frequent 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 CL: $21,100
Fico 8 Scores:
12/2018:
03/2019:
06/2019:
09/2019:
Goals:   550 by 12/2018 600 by 3/2019   650 by 6/2019   700 by 1/2020   750 by 1/2021 800+ by 1/2022
8 derog. (all settled 1/2019)     |     Inquiries: 10, 9, 6     |     AoOA: 10.0yr     |     AAoA: 5.2yr     |     AoYA: 0.4yr
Message 6 of 19
Senior Contributor

Re: Citi Diamond preferred

 


@Batwood1 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
Community Leader
Mega Contributor

Re: Citi Diamond preferred


@Batwood1 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. 

EX 759 EQ 774 TU 753


Message 8 of 19
Community Leader
Valued 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: 19.7k
Amex BCE: 18k
Citi DC: 5.7k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 9 of 19
Established 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 8 scores are deceptively high. My profile is very young with a lot of recently opened accounts and large number of inquiries. No derogs. Over 5/24 until summer 2021.

Authorized user / Corporate

Closed but still on reports: ExxonMobil, $950, 10/08-02/11 (Equifax only) | Citi secured, $200, 045/19-09/19 | Capital One secured, $300, 04/19-08/19 | My Jewelers Club, $5,000, 05/19-08/19 | Green Dot Primor, $300, 05/19-08/19 | Unsecured personal loan from Coastal, $1,000, 05/19-08/19.

Goal cards: Ducks Unlimited, Chase Sapphire Reserve (or Preferred, haven't decided). Increased CLs across the board.
Long-term goal: Legitimate 770s on EX/EQ/TU, able to qualify for most normal credit products. Prime-rate mortgage.
Message 10 of 19
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