Citibank lowering limits?

[Anonymous]

Just signed into my SYW Card (Sears old Mastercard) slashed from 3,000 to 1,800 this morning...large purchase of $2500 with 12 months 0 interest..balance is at 1675.00 with 7 months still on 0 interest...My Shell Mastercard is at 0 bal and CL 2,000 and BestBuy Visa 0 bal and CL of 5,000.  No AA so far on my other Citicards...I hope no further action is taken, but we will see in the near future....Just a FYI... 

[seattletravels]

Interesting. In light of current events,   I wonder if they're hedging their bets and taking other factors like job industry and income into consideration for the moment. 

[Anonymous]

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@seattletravels wrote:

Interesting. In light of current events,   I wonder if they're hedging their bets and taking other factors like job industry and income into consideration for the moment. 

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That was always what I thought they did from day 1, regardless of the economy. If you are in the restaurant business as opposed to healthcare right now, there is certainly more risk of job loss in the restaurant industry. 

[Anonymous]

Just now checked mine. OK, for now. Yesterday, I did notice I had to re-sign up for the FICO score which I thought was strange.

[Anonymous]

On my bestbuy card went from 5k to 1k. It was paid off and the most I utilized was around half of the credit line. Maybe they are cutting lines that aren't used to the fullest while protecting their assets during this crazy time. 

no big deal but seems like citi is cutting lines more than anyone else from what I've seen 

[Anonymous]

They cut my bestbuy card from 5k to 1k. Zero balance but i did use it each month. Most I charged at one time was around 2500 and paid that off within 2 months so didn't carry it long. 

[seattletravels]

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@Anonymous wrote:

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@seattletravels wrote:

Interesting. In light of current events,   I wonder if they're hedging their bets and taking other factors like job industry and income into consideration for the moment. 

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That was always what I thought they did from day 1, regardless of the economy. If you are in the restaurant business as opposed to healthcare right now, there is certainly more risk of job loss in the restaurant industry. 

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Yeah it makes a ton of sense.

[blindambition]

Sorry about the CLD. At least it wasn't closed. I'd say Sync, Amex, and Citi. Many factors go into their decisions. Buckling up just like us!!

[seattletravels]

They're on a roll, for sure.

[Anonymous]

I'm sure glad I paid off a couple BT balances the in last couple months. Though I still have two that just started, so I hope they're with FI's that aren't too nervous about it.