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Simplicity>Dividends?

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Valued Contributor

Simplicity>Dividends?

So, Citibank refuses to PC a Simplicity because it has no late fee ever or penalty APR. Citibank's 5% rotator, Dividends, is only available via PC. The CARD Act I'm sure plays a part because it imposes strict requirements for CCCs to raise rates. But I'm wondering what everyone's thoughts are on whether this policy will change, as many others do over time. I'd like to PC, if not, I may close it. Thoughts?







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 1 of 4
3 REPLIES 3
Moderator

Re: Simplicity>Dividends?

Depending on how the product was automatically coded at origination determines whether it can be PC'd or not.

Aside from the CARD Act, and if the Simplicity account has aged beyond 12 months, all you can do is keep checking. There are internal refreshes that move certain products to different tranches that may permit the PC at some point.
However, there's no specific timeframe when those occur. But, PCs with Simplicity (although infrequent) do happen.

Message 2 of 4
Established Contributor

Re: Simplicity>Dividends?

Apparently there's an old (white) version of Simplicity that earns TY points that could be PCed but all searches here and elsewhere indicated that the current version of the Simplicity cannot be PCed and that's a Citi policy. If someone has a DP on a successful Simplicity PC I'd love to hear about it. 

Message 3 of 4
Valued Contributor

Re: Simplicity>Dividends?

@FinStar I’m very excited to hear they PC Simplicitys, though infrequently. I am patient.

Can you please guide me to any example of where there was a PC with a Simplicity?







Installment loan reported this month,so technically, I'm at 2 months, but AoYA points were NOT reset. When new CCs hit and it is reset, I'll put the number it is.+1,+2,+2(Forgive typos, mobile.)(Everything said is Just IMHO.)
Scores updated AUG 4, '19. Since then, 5 HP dings to add; will update again.
Message 4 of 4
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