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@Anonymous wrote:How long does it take for everything to go back to normal after you received the letter? I am in the same situation but my online banking is still showing 2 accounts.
Because I had not received the World card yet when I called, I was able to keep using my old card without any interruption. When I checked the Citicards website later that day, the World card was already gone. They did send me a new card with my old account number on it (their system automatically does that); so when I got it, I activated it. I also finally received my World card, but I just shredded it as the woman had instructed me to do. The letter I got was just a formality; everything had already been resolved just from the phone call.
If you had already gotten and activiated your World card, the process might be different from what I experienced.
In answer to your question, my Chase card was converted to a World Master Card. This resulted in a large drop in my credit score because Chase does not report a credit limit, although they do show a "credit access limit" on my statements. I contacted Chase about this and they sent me a letter that I could send to creditors who don't like my new lower score. They REFUSE to report a credit limit or to change my account back.
I don't know what their game is, but I would appreciate hearing from someone who does. Also, to the person considering the Citi World Master Card -- DON'T. Tell them you want to remain with the account as it is already set up.
@Anonymous wrote:
In answer to your question, my Chase card was converted to a World Master Card. This resulted in a large drop in my credit score because Chase does not report a credit limit, although they do show a "credit access limit" on my statements. I contacted Chase about this and they sent me a letter that I could send to creditors who don't like my new lower score. They REFUSE to report a credit limit or to change my account back.
I don't know what their game is, but I would appreciate hearing from someone who does. Also, to the person considering the Citi World Master Card -- DON'T. Tell them you want to remain with the account as it is already set up.
Are you sure nothing else changed on your reports to cause your score to go down? My new CITI World MC just reported and my TU score went up 3 points. As with your Chase card, my CITI World MC does not report a credit limit or a high balance.
It's been two months since they "Converted me" to the World card and of course now my credit report doesn't shot citi card for Credit Utilization.
Is it too late to ask them to convert it back to Platinum Select?
@Mn_Vikes wrote:It's been two months since they "Converted me" to the World card and of course now my credit report doesn't shot citi card for Credit Utilization.
Is it too late to ask them to convert it back to Platinum Select?
The upshot though is that if a card's credit limit isn't used for util, neither is its monthly balance, so feel free to go wild.
I'm halfway kidding. Just because the monthly balance isn't used for util doesnt necessarily mean it's entirely ignored for scoring. I suspect some of the jolly moderators and/or hardened super contributors may be in possession of the authoritive answer.
I typically PIF at least once if not twice per month. But I also don't have a lot of CC's so this one card not showing a limit hurt my credit score and i find it sneaky what they did which pisses me off.
@Mn_Vikes wrote:I typically PIF at least once if not twice per month. But I also don't have a lot of CC's so this one card not showing a limit hurt my credit score and i find it sneaky what they did which pisses me off.
I used to feel the same way and took comfort in reading about the Credit card companies' evil tricks.
Have you had the pleasure of Alfred Hitchcock's The Trouble with Harry (1955)? A little boy asks his mother, How do you forget something? And she responds, By thinking of something else.
I thought of an Amex card, whose reported credit limit has worked very well for me.
Update!
I've had my CITI World MC for some time now. I pulled my reports from annual credit and I was shocked at what I saw. Here is how my World MC is reporting for each bureau.
EQ: reports CL and balance
EX: no CL, but reports high balance and balance
TU: no CL or a high balance, but reports just the balance
Boy, oh, boy!
the reason why a world master card dosen't report a limit is because there is no pre set limit. that means just like visa signature, you cant max out the card. it becomes sort of a charge card past its revolving limit.