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Credit card rant!!! How come when I wanted a credit limit increase I didn't get it?

B

bujuranks

Senior member
About 6 months ago I was near my credit limit and I wanted to charge an emergency car repair that would put me over my limit by about $200. I called my credit card company (Citibank Visa), explained the situation and asked for a credit line increase. My payment history has been pretty good, I haven't been late or missed any payments in the last 2 years or even longer. I always paid more than the minimum. They said no of course 🙁. So, do you think they wanted me to go over my limit so they could charge me the over the limit fee? I didn't make that charge of course. Since that time I have used the card about twice. During that time I have made my usual timely payments. The card company has increased my limit twice and has sent me at least two of those transfer other credit card balances at a lower rate with no transfer fees offers.

Why couldn't they give me the small increase I was looking for back then? Is this a good time to call them to ask for a lower APR? I want to pay off that only card and then be back to my cash paying days. I only made big purchases when I have the cash for it. Now those were the days. 🙂. I did a search, there are a lot of credit card topics but no rants :Q
 
I'd say ditch them too. Is this your very first card?

Damn, that limit is like having a F+ 😉😛 (Sorry, couldn't resist)
 
No this isn't my first card. This is about my 5th or 6th but this is one of the very first cards that I got. Right now it is also the only card that I have left. I paid off the others and closed them. I will ditch them once I am finished paying it off. Maybe I should look into finding another company with a good transfer rate and ditch Citibank. 🙂😉
 
Originally posted by: m2kewl
I'd say ditch them too. Is this your very first card?

Damn, that limit is like having a F+ 😉😛 (Sorry, couldn't resist)
Click to expand...

Hm... /me thinks someone needs to re-read the original post very carefully.

Josh
 
Next time you go on a shopping spree, use only that credit card and then pay up the huge bill on time. Thats what I did and my credit limit doubled.
 
Some credit card companies will allow you to make credit limit increases only at very specific intervals. They are quite inflexible.


Yes, it might be a good time to ask for a lower APR. I told my provider that I had already received preapproved offers from other CCs and was thinking of transferring my balance and dropping them. It worked for me.
 
Q: Credit card rant!!! How come when I wanted a credit limit increase I didn't get it?
A: Read the decline letter they've sent you for the exact reasons.

Make all your payments on time, do not apply for any other new credit or increases for at least 12 months, and then request another increase. I know it sucks, I've been there and know how it feels.

Good credit doesn't happen overnight.
 
another way to try and get it increased is call them up to cancel.. the specialist will ask you why, tell them exactly what you told us.. and i guarantee you that if you've been a good customer they will increase it... ive done this before w/ capital one..
 
Citibank is a bunch of pr1cks. Do yourself a favor and dump these clowns. Capital One is pretty good and offers online payment.
 
They generally will decide when you deserve an increase. It's based on algorithms and has nothing to do with your desires or needs. They're the lender, in control, and Citibank is a huge corporation. You are merely an ant.

I think they look for high balances that are paid off in large chunks. That tells them you have cash and discipline. Late payments are a big no-no.
 
dont complain.. i cant even get a card! and i make good moneys
Click to expand...
bob970, this is not meant to be a complaint just annoyance.
Consider yourself lucky. I would try and keep it that way if I were you.
Once you get caught up using a credit card it is going to be a good while
before you can break the habit. It is a responsibility that sometimes you
are going to wish that you didn't have to begin with.
 
Originally posted by: bujuranks
About 6 months ago I was near my credit limit and I wanted to charge an emergency car repair that would put me over my limit by about $200. I called my credit card company (Citibank Visa), explained the situation and asked for a credit line increase. My payment history has been pretty good, I haven't been late or missed any payments in the last 2 years or even longer. I always paid more than the minimum. They said no of course 🙁. So, do you think they wanted me to go over my limit so they could charge me the over the limit fee? I didn't make that charge of course. Since that time I have used the card about twice. During that time I have made my usual timely payments. The card company has increased my limit twice and has sent me at least two of those transfer other credit card balances at a lower rate with no transfer fees offers.

Why couldn't they give me the small increase I was looking for back then? Is this a good time to call them to ask for a lower APR? I want to pay off that only card and then be back to my cash paying days. I only made big purchases when I have the cash for it. Now those were the days. 🙂. I did a search, there are a lot of credit card topics but no rants :Q
Click to expand...

well i am like u, a true customer and pay bills on time, create a online CC aacount and request a credit limit increase every 3-4 months, it will let u, i have been getting $2000 increases every 3.5 months. from 5k starting i am at 12k now 🙂 at his rate i will be at 20k pretty soon, works for me
 
Originally posted by: sandigga
another way to try and get it increased is call them up to cancel.. the specialist will ask you why, tell them exactly what you told us.. and i guarantee you that if you've been a good customer they will increase it... ive done this before w/ capital one..
Click to expand...

it always works with capital one, i did it, they offered, canceled anyways
 
Originally posted by: JellyBaby
They generally will decide when you deserve an increase. It's based on algorithms and has nothing to do with your desires or needs. They're the lender, in control, and Citibank is a huge corporation. You are merely an ant.

I think they look for high balances that are paid off in large chunks. That tells them you have cash and discipline. Late payments are a big no-no.
Click to expand...

right on, i buy a lot per month, carry a large balance, then pay it off in full, u will get huge increases in the long run

 
Originally posted by: iamwiz82
$200? How old are you? You said 2+ years. Go get another card, do a balance transfer and forget Citibank.
Click to expand...

Wow. Great advice on how to ruin your credit. Balance transfers are seen as signs that you cant handle your own debt, so you bounce from low rate to low rate.

On the other hand, ONE wont do too much damage......

Only do BTs when you absolutely have to, and make sure its decent. if the card offers you 0% for 6 months, make damn sure you check the APR after the offer expires. Often it'll shoot up to 19.9+
 
Originally posted by: OneSyberTroop
Originally posted by: iamwiz82
$200? How old are you? You said 2+ years. Go get another card, do a balance transfer and forget Citibank.
Click to expand...

Wow. Great advice on how to ruin your credit. Balance transfers are seen as signs that you cant handle your own debt, so you bounce from low rate to low rate.

On the other hand, ONE wont do too much damage......

Only do BTs when you absolutely have to, and make sure its decent. if the card offers you 0% for 6 months, make damn sure you check the APR after the offer expires. Often it'll shoot up to 19.9+
Click to expand...

1 bank transfer wont hurt your credit. I have done it to get out of my high risk student card and go to a low interest AMEX Blue. Obviously if his limit is only $200, his interest is going to be sky high.

 
When auditioning this new card it would be of benefit you to do all your negotiating at this time. It's when they want to get you in the door that they will be the most flexible to interest rates and balance limits.



 
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