Citibank lowering limits?

[UH_HUH]

Thank you for starting this post.

It made me want to check some cards

I have from their online banking sites.

Chase,Citi and Discover and BB&T

all required me to

add a security code sent to my cell phone,

and one wanted a security question answered.

No decreases. I then tried my CU cards and none of that.

I have the bulk of my credit issued through 

credit unions,and local banks,

most of them all offered

help if needed

from effects of Coranavirus.

Did not see that on the major banks sites.

Hoping everyone gets through this

without any major problems :-)

Keep kindness in your heart,

Cheers

[Anonymous]

---

@NRB525 wrote:

---

@Anonymous wrote:

---

@Anonymous wrote:

---

@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. 

---

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. 

---

I am not sure your statment is true, but I receive 9k CLI on 4 mths old Prestige...and I am in healthcare field.  My spending has been less than 10% of SL after getting SUB the first month.

---

Banks cannot take your line of work into account for credit granting.  The questions on "are you employed or retired" are more for categorizing your likely income stream.  Banks do use your level of reported income in CL decisions.  

---

So when you apply for credit, you put your occupation on there for what reason?

And so when a student applies for DISCOVER IT card with no credit history at all, but can get an unsecured card with a 1K limit because the student shows proof that he/she was accepted at a university, but someone who was not has to apply for a secured card, they don't take that into consideration either?

[seattletravels]

---

@Anonymous wrote:

My DC line was cut as well, down to within $100 of the balance. Perfect payment history over the years with them and on all accounts. Scores are all just under 700.

I've had Synchrony cut my line before on one card, at least it was a card that wasn't being used at all. I (used to) use my DC card frequently.

---

This is called balance chasing. 

[maynie]

Citi lowered my limit from $17,400 to $15,200 over the weekend, on a card I've had for about ten years with them. I am currently in an industry that is shut down because of COVID19 and while things are tough for me financially, I have not missed any payments on that card or any of my cards or loans. I do carry a balance on that card and considering my loss of income won't be able to pay it down quickly, but will keep paying on time while being killed with the interest rate. 

Discover lowered my limit last month as well ($20K down to $17K) so the Citi one did not surprise me. It's kind of annoying but understandable given the current economic climate and risk. At this time continuing to pay everything on time is even more important than an optimal score so plugging away to stay afloat until we get through this insanity.

[pete19103]

---

@maynie wrote:

Citi lowered my limit from $17,400 to $15,200 over the weekend, on a card I've had for about ten years with them. I am currently in an industry that is shut down because of COVID19 and while things are tough for me financially, I have not missed any payments on that card or any of my cards or loans. I do carry a balance on that card and considering my loss of income won't be able to pay it down quickly, but will keep paying on time while being killed with the interest rate. 

Discover lowered my limit last month as well ($20K down to $17K) so the Citi one did not surprise me. It's kind of annoying but understandable given the current economic climate and risk. At this time continuing to pay everything on time is even more important than an optimal score so plugging away to stay afloat until we get through this insanity.

---

@maynie  Sorry to hear about the CLD but it could have been a lot worse; they could have cut your limits down to a couple  grand or even closed your cards so the relatively minor decreases are actually an encouraging sign that they are not TOO worried about your accounts.  Hope you are able to get your limits back to where they were before; good luck!

---

---

[maynie]

Circling back around as Citi just did a second CLD from $15,200 down to $13,500 today. My industry has yet to return from the COVID shut down, but I've been paying it perfectly along with all of my accounts so this is clear balance chasing. Losing $3K towards my utilization hurts for sure, but also feels like there isn't much I can do about it at the moment. Will be happy once I get this paid off so I can tell Citi Bank to go kick rocks!