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Credit limit increase denied.


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I'm so irritated with my Citi mastercard. I've had this account since 1992 and NEVER late. My limit is at 700. Not much. My balance has always been around that, but since my repair efforts, I've made several payments each month and now it is at 60. Even when we were having money problems which messed my credit, I still made my MC payments. They were minimum, but they were still made.

Last week I requested a limit increase through the online site. I hate asking in person. I didn't call because I didn't want them to think that I wanted the increase so I could run out and use it up. So today I get a letter telling me that because of derrogatory information on my report they can't honor my request.

Yeah my report is not super. They pulled Experian (my lowest 579). Doesn't history with a company make any difference in this type of situation? I am thinking of calling and asking a representative if they can help, but am discouraged. Is there anything they can do to raise the limit anyway? Is begging on my part effective?

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I'm so irritated with my Citi mastercard. I've had this account since 1992 and NEVER late. My limit is at 700. Not much. My balance has always been around that, but since my repair efforts, I've made several payments each month and now it is at 60.

...

Is there anything they can do to raise the limit anyway? Is begging on my part effective?

Am I correct that your CL is $700 and the balance is almost $700? That shows up as nearly maxed out, and they are probably going to be a little reluctant to raise your limit.

You could try a reconsideration letter. I recently tried 3 of 'em. 1 outta 3 worked. Chase gave me a $400 CL CC.

If there's any way you can pay down the balance, at least some, do it. Getting the util under 50% should be your minimal goal. Optimum util is between 1% and 9%. If you pay it by the next payment due date, it should get reported to the CRAs when the next payment cycle closes.

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No, my balance now is $60. I'm going to try to call them this week. I just hate talking to these guys.

I recommend writing for several reasons.

1) You don't like talking to them already so you'll be going in disadvantaged and "off your game".

2) The simian you talk to on the phone likely isn't the person who needs to hear your pitch, and it's unlikely they will correctly convey your words to the person reviewing your request.

3) You can collect your words and thoughts, form them up, and make sure you're presenting yourself well before sending it off.

Take a look at a recon letter that worked for me.

http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=269660

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No, my balance now is $60. I'm going to try to call them this week. I just hate talking to these guys.

I would give them a call. However, rather than ask for the CLI directly, I would politely ask the person why it was denied and what you might to do to get the CLI approved in the future. This changes the relationship so the person on the other end is no longer being defensive, but is now actively trying to help you. Then you can sneak in a request for them to reconsider granting you a CLI.

Good luck!

-r

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  • 4 weeks later...

Finally called them today with no luck. They said they look at overall credit and there was no way around it. The funny thing is, they pulled EX. I looked at my report and they aren't even reporting this account on EX. I did point this out and they said they would fix this. They said I could wait a month and they could pull again, but the baddies they originally refused me for, will still be there.

I let them know that WAMU just approved me for a $4000 limit, so my business will be with them. I'm not closing the account, only because of it's age, but it will be used very minimally. So much for customer appreciation.

The only thing they did budge on was finally elimination my yearly membership fee and dropping my interest rate by .42% (Gee thanks).

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I'll be brutally honest.

You should be thankful to even have a Citi card with scores like yours. You aren't going to get large CLIs until your FICO and income look good to them. Also, I only do the non pull CLI request on the website. If I get the form, I just wait another month. Only automatic no pull CLIs for me.

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They're FAKO. I thought the increase was worth a shot. Citi only does hard pulls (atleast thats what they told me) even through the website. The only reason I even tried is because I recently got the WAMU with $4000, and my discover, which I had as long as the citi and even had to get on a hardship program a couple of years ago, gave me a substancial increase as well as an interest rate drop. I'm not going to let the Cl bother me. I just thought they would have some appreciation for my being a good customer...silly me.

You should be thankful to even have a Citi card with scores like yours.

My scores didn't look like that when I originally got the card.

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Did you originally get the card through Citibank or was it bought by them through an acquisition?

No clue. It was one I got my first year in college. I do know that it originally was a Visa and now is a Mastercard.

4K from WaMu huh? Juniper and WaMu have to be the most bi-polar CCC's on Earth. I know people with FICO's over 750 that can't get approved for a WaMu card. Truly UFB.

I wasn't expecting it. I got a pre approval through the mail and thought WTH, I'll give it a shot. It has no AF and interest rate of 12%. My mortgage is through WAMU, but foreclosure was started (never completed) 4 years ago, so I didn't think it would work. I also just got a card through Juniper (National Parks) with a CL of $2000, but the Interest rate is around 16%.

Maybe I should pull my FICOs just to see what they say. I've been working of trying to repair these last months to get a good auto loan. That accomplished, I thought I'd try to obtain a few more cards to better establish myself. Really didn't think I'd get any worth keeping. Now I'm just going to take my time and try to fix the rest of the baddies. I'm not rushed.

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They're FAKO. I thought the increase was worth a shot. Citi only does hard pulls (atleast thats what they told me) even through the website. The only reason I even tried is because I recently got the WAMU with $4000, and my discover, which I had as long as the citi and even had to get on a hardship program a couple of years ago, gave me a substancial increase as well as an interest rate drop. I'm not going to let the Cl bother me. I just thought they would have some appreciation for my being a good customer...silly me.

My scores didn't look like that when I originally got the card.

I'm guessing when you originally got the card, you hardly had any scores at all. You said in a later post that you got the card when in college? WaMu seems to be really generous with CLs. They just gave me $2K and my FICOs around in the 650s with nothing derogatory younger than 2-3 years, yet I can't get a Citi card even when I get the invites in the mail. Go figure. That being said, Citi did just refinance my auto loan at a much better rate than I was paying, saving me about $75/mo.

I'd think with scores in the 500s and recent history of that card being maxed, they're giving you plenty of love giving you the credit at all. Just because you can pay the minimum $15 each month doesn't mean they'll automatically give you a CLI. A monkey can do that. Clear your credit for many years and get your scores in the 7s and you'll get tons of love. 580 is no where close to being good.

(just being honest)

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