I was thinking of applying for a Citi Diamond Preferred or Simplicity for the 18 months 0% interest. I'm having the siding redone on my house and I'd like to be able to pay it off over 18 months instead of up front.
If I don't get approved for enough limit on the new Citi card (or if the amount is such that I would have to max it out to pay for the siding), then I was wondering if Citi lets you move credit limit from one card to another like AMEX does.
If they only approved me for a $5000 card, then could I take $5,000 off my current double cash card and stick it on the new card to give me a $10,000 card, for example?
@ilove2learn wrote:
I was speaking with the executive office and they flat out told me no. It blows my mind how the people on here are more knowledgeable than the employees of these companies. I appreciate your detailed correction!
A Discover card rep once told me that they didn't transfer available credit either, but I knew from this forum (and from having done it previously) that they did. I had to explain and escalate to get to someone who knew what to do. For them, it only worked if you had a current available CLI, although I can't recall if it needed to be on the donor card or the recipient card.
You are absolutely correct that there is a lot more knowledge on this forum than what the folks answering the phones know.
@FinStar wrote:
@ilove2learn wrote:
They use to, but not any more.Actually, this is not accurate. They still do, but it's a little bit of work that most folks don't want to go through.
OP - Citi doesn't reallocate limits in the way some lenders like Chase or BoA does, for instance. In a variety of cases, the request would need to be escalated since most of the agents are not familiar with the process. There are a couple of caveats with this, though. The first, any reallocation request will be a HP (not SP). They pretty much treat it as a CLD (donor card) and a CLI (recipient card). You can only transfer up to a specific amount that the donor card allows. For example, some cards have low thresholds of $500, while others may be ~$2,000, for example.
Thanks for the information!
That's unfortunate that it requires a HP, although maybe if I do it right when I get the new card they can go off the HP from getting the card? I guess I'm putting the cart before the horse though, and I'll just go ahead and apply and see if I get a good enough limit to pay for the siding without maxing out the card. If the limit is high enough, I won't have to worry about whether they'll transfer some available credit from my other Citi card.