Citi Secured Card still not graduated after almost 7 years

[hsdubb19]

This is my oldest card with 6 Years, 3 Months of positive history.

No late payments at all.

I just got a letter stating that they want to continue to review my account for another 12 months.

This is ridiculous. I have other cards with limits up to $60K and my other cards have a minumum of $20K limit.

My Fico Scores are also at 750+

I would like to continue to support CitiBank since they helped me rebuild my credit but after seven years of positive history, they still want to keep me as a secured customer.

I contacted customer service who recommended me to write the credit department a letter. I will try and update. 
If anyone has gotten them to reconsider, please let me know.

When calling for a product change, they say that they cannot until the card matures.

[Linnaea]

Wow,  this is so wrong on many levels. Me personally I would close it.  I don't know much about Citi but can you product change? Sounds like a carrot on a stock situation.   Or the when a man days a woman for years but won't put a ring in her finger.  I say runaway until you catch them.   Close it.  The positive will report for several years.    But I'm no pro.  I will let others chime in.  

[hsdubb19]

They said no product changes until the account matures which they refuse to do.

[GZG]

the citi secured product isn't good, as you're finding out -- ridiculous 

if you want to pay back citi's generosity in them giving you a card, get another one of their cards. Assuming you don't have much recent credit, I can't imagine you not being approved. Get a double cash w/$200 limited time SUB or get very nice 5% categories with the custom cash or something and add a staple card to your credit card portfolio 

[NoMoreE46]

That is quite a  long duration. 
Did you have any history with Citi before this card? 

I would SD it and app for something you want.

[Horseshoez]

I'd close the card if the amount of the security deposit was anything more than a couple hundred dollars; it simply isn't worth tying up your money for no benefit.  As for Citi, I know *some* financial institutions allow you to apply for unsecured cards while also having a secured one; you might want to simply apply for a different Citi card, and regardless of whether you are approved or not, close the secured one.

[Lou-natic]

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@hsdubb19 wrote:

This is my oldest card with 6 Years, 3 Months of positive history.

No late payments at all.

I just got a letter stating that they want to continue to review my account for another 12 months.

This is ridiculous. I have other cards with limits up to $60K and my other cards have a minumum of $20K limit.

My Fico Scores are also at 750+

I would like to continue to support CitiBank since they helped me rebuild my credit but after seven years of positive history, they still want to keep me as a secured customer.

I contacted customer service who recommended me to write the credit department a letter. I will try and update. 
If anyone has gotten them to reconsider, please let me know.

When calling for a product change, they say that they cannot until the card matures.

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Once a secured card has fulfilled its purpose it's time to let it go. If it "graduates" or not shouldn't be a consideration. In your case the card did what you needed it for and it's time to cancel it.

[Horseshoez]

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@Lou-natic wrote:

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@hsdubb19 wrote:

This is my oldest card with 6 Years, 3 Months of positive history.

No late payments at all.

I just got a letter stating that they want to continue to review my account for another 12 months.

This is ridiculous. I have other cards with limits up to $60K and my other cards have a minumum of $20K limit.

My Fico Scores are also at 750+

I would like to continue to support CitiBank since they helped me rebuild my credit but after seven years of positive history, they still want to keep me as a secured customer.

I contacted customer service who recommended me to write the credit department a letter. I will try and update. 
If anyone has gotten them to reconsider, please let me know.

When calling for a product change, they say that they cannot until the card matures.

---

Once a secured card has fulfilled its purpose it's time to let it go. If it "graduates" or not shouldn't be a consideration. In your case the card did what you needed it for and it's time to cancel it.

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I still have the card which started as my post-Chapter 13 secured card; it graduated in only six months and now, after almost 3.5 years it has Auto-CLIed itself up to a limit of $11,500; it is still my most used card. 

[Kforce]

As @Lou-natic , @Horseshoez  and @GZG  have said.

Once a secured card has fulfilled its purpose let it go. (graduation or not)

It should still report and support your history for a long time.

Close it, get your money back, and move on.

You said:

"I would like to continue to support Citi Bank since they helped me rebuild my credit"

I think you have paid back that debt, with seven years of them holding your money and

propper use and payment of the card.  

Do what is best for you from this point in time.

[hsdubb19]

This is my first and only Citi card ever no I never burned them or anything.

The credit limit is also $200 so that is the amount that they are holding on to.

I held out hope for it to be unsecured so I could PC to Custom Cash and continue using it since it would be my oldest card.