Hello, I have a CITI Premier Pass acct. which is a no p...

[Anonymous]

Hello,

I have a CITI Premier Pass acct. which is a no pre-set Credit Card.  I beleive it reports to the bureau the current balance as the as the credit limit.  So, this means my balance is always at the 100% usage.  I have also seen Maxed out in my reports.  Is this right?  and how would i try and fix this situation so I can improve my score.  Please advise.

Sach

[Tuscani]

Convert it to the Div Plat Sel Citi card.

[Anonymous]

Hi Tuscani, Will that not create a new account in my credit history? thanks, Sach

[Anonymous]

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@Anonymous wrote:
Hi Tuscani, Will that not create a new account in my credit history? thanks, Sach

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I also have PP card and I called them to try and convert to a different card, they said that I would be getting a brand new card with a new account number. So I'm assuming that's going to be another credit card shown as new on my CR. Haven't done the conversion yet though. Just waiting for the right time...

[Anonymous]

Hey bajrasca what were those scores if you dont mind me asking?and congrats too you...

[Anonymous]

bren39, My scores are just below 700 right now. Congrats for what? sach

[Anonymous]

Actually I thought you had just gotten the approval...well its a good card so congrats anyway...

[Anonymous]

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@Anonymous wrote:

Actually I thought you had just gotten the approval...well its a good card so congrats anyway...

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Citi PremierPass Card is really good - with the thank you points and mileage points... I just wish they didn't have that preset spending limit bull that nobody ever uses. lol

[Anonymous]

I have a PP acct which I got back in Dec.  I do have a balance on it - and it does report that balance each month but not the limit.  It did not affect my scoring much at all.  In fact, when I got the card - and it reported with a balance right away since I did a balance transfer - my score did not go down.  I think somehow the Fico Algorhythem knows it. 

[Anonymous]

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cbu wrote:

I have a PP acct which I got back in Dec.  I do have a balance on it - and it does report that balance each month but not the limit.  It did not affect my scoring much at all.  In fact, when I got the card - and it reported with a balance right away since I did a balance transfer - my score did not go down.  I think somehow the Fico Algorhythem knows it. 

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It's utilizing you "high balance" as your proxy credit limit... It just figures that if you had a balance that high, that you have at least that high of a limit.  This is just what Crap One does,among others, and they are supposed to be changing this sometime this year according to a recently released statement.