Citi reducing lines

[Anonymous]

I've only ever carried a BT balance on my Diamond Preferred, generally never higher than $2,500 due to Ut purposes. Always made large payments during that time. My typical card activity is usually only a couple Bennies at most per month, but often a 0 Balance on both card.

Recenly they gave me an increase on both. 

Any time there is an economic road bump balance carrying can be viewed as more of a risk, especially if it isn't being paid down at a reasonable pace. They're not doing anything you wouldn't if you were in their place.

[K-in-Boston]

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@Anonymous wrote:

If you made a payment and they reduced your limit after then you are being balance chased.  Without more data, it is hard to speculate any further.

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This exactly.  Citi isn't reducing lines for most people (lots of credit line increases posted here lately, in fact).  Citi can and will balance chase for overall high utilization, particularly when combined with making minimum or near-minimum payments, to mitigate potential losses if they feel the risk of default is going up.

The good news is that as long as the card remains open, once your profile improves you can ask for credit line increases and they grow right back where they were, or higher!

[Anonymous]

Sorry for the CLD OP. If you have balances on other cards you may want to make sure you're paying at least 3X your minimum payment so they don't slash you too. Now is not the time to look risky. Citi isn't one of the twitchiest lenders so when they start slashing, it's time to dig deep into your profile and see what spooked them. 

By the way, the bottom of your signature, @K-in-Boston 

[Anonymous]

No I was making substantial payment much more than minimum. Did not know a post would cause criticism and argument. I was trying to alert people.

[credit_is_crack]

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@Anonymous wrote:

By the way, the bottom of your signature, @K-in-Boston 

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@Anonymous @K-in-Boston 

I didn't even notice it until you pointed it out, but I know I read about this topic earlier 

[credit_is_crack]

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@Anonymous wrote:

No I was making substantial payment much more than minimum. Did not know a post would cause criticism and argument. I was trying to alert people.

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@Anonymous 

You're good -- the initial post was just a bit thin on details so it was hard to try and understand what was actually happening. We all understood the aftermath, but were hunting for the cause. It caught my eye because we have seen quite a few lines cut, but I had not seen hardly any regarding Citi so when it came up, it caught a lot of eyes (I personally have a doublecash with an unnecessary limit and figured "alright -- they'll be coming for me" lol)

The alerts are always appreciated! 

[Anonymous]

I am thinking thatccspending so much time trying to figure this out. Just pay all debt and stay away from credit. I am 64 years old and have had credit for many years and a former credit card banker with a large bank.

[Wavester64]

**off topic**

@Anonymous , I see you have a relationship with Andrew's (so do I, car loan refinance) was wondering have they ever offered you to try for one of their CCs? For me, 19-months in, and not a peep.

[Wavester64]

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@AverageJoesCredit wrote:

Thank you,  unfortunately i cant make large payments on a 0 balance but thanks for headsup

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I got you beat @AverageJoesCredit  I recently had some credits on there, so I can't make large paymenst on a negative $300 balance 

[Anonymous]

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@Anonymous wrote:

No I was making substantial payment much more than minimum. Did not know a post would cause criticism and argument. I was trying to alert people.

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You were being vague at best though, like simply saying the wind is blowing. Whenever a statement like this is made people want Data Points for a better understanding on why it might have been done. And sometimes can offer the affected person some insights, which might possibly assist in a remedy to the situation. Or help prevent further AA from other Lenders.

Posts like this often get started with important info left out which can panic some people.