Really peeved and just need to rant.
Current stack:
Cap 1 Savor, $7400 limit, Nov 2023
WF Autograph, $1500 limit, Jul 2024
Bilt Blue, $3500 limit, (not sure how to categorize this – got the original Bilt in Jul 2024, which split into Autograph plus this Blue in February)
FICO 724 at time of the following
Via Experian, got an offer for Citi Double Cash 18-mo BT offer. Wanted to get into the Citi ecosystem anyway, thought I would use this to BT from Cap 1 some of my ~3000 ish balance.
Get approved, open the account, BAM $500 limit. Naturally the window for BTs to be initiated is 4 months, and Citi won't increase my limit for 6 months. Just spent an hour on the phone trying to get them to reconsider in a variety of ways and explanations but no dice. Their explanation was "well if your balance was lower on your other cards you would have gotten a higher limit with Citi", which is all well and good, but if my balance was lower on other cards I wouldn't have opened the BT card in the first place! Stupid circular logic and I'm so annoyed.
Am I just screwed by their algorithm or is there any actual method to make the most of this?
Citi f*cked me on a BT offer and I'm ANNOYED
byu/shamwellnoblethorn inCreditCards
Posted by shamwellnoblethorn
2 Comments
Just so I’m clear, Citi “f*cked” you because they didn’t give you as much of their money as you, for some reason, felt you were entitled to?
It’s not circular logic: lenders are in the business of mitigating risk. Not every customer with a balance is equally risky. You personally, along with your credit history, didn’t meet the standards they wanted and the limit reflects that. Doesn’t matter what your score is (which is easy to game and *not* the basis of lending decisions).
You don’t mention your income, but I’m assuming the debt and existing available credit is comparatively high relative to it.
I feel ya. I’m currently working on doing a balance transfer away from a Citi card and it’s friggin’ brutal.
Not to go too deep in the weeds but just getting them to tell me the correct address for balance transfers has severely impacted my opinion of them.
I doubt I’ll open another Citi card…unless income across a SUB that’s just too good to pass up.