Cancel CITI Card and the Apply ? Or Not

Discussion in 'Other Credit Card Programs' started by mrx900, Jul 25, 2012.  |  Print Topic

  1. mrx900
    Original Member

    mrx900 Silver Member

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    my annual fee is due for this CITI Thank You Premier card ; naturally, im going to cancel this...but heres my question. this card has an $12,000 credit line. Is it better to apply for OTHER CITI cards and then just move the credit line over to the new one from the Thank You card or cancel this first..and then apply for other CITI Cards? Im due for a churn anyways..
     
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  2. MX

    MX Gold Member

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    Great question. My personal experience with Citi has always been that they do not move credit lines between different products. When I was not approved for new cards due to high existing credit line, Citi reps would always advise to close or reduce exisiting lines, then apply again. However, I've also read accounts that they have moved credit lines on some occasions. If you apply for a new card counting on that and it doesn't work, you may end up with a delay and an extra hit on your credit report.

    Perhaps a blended strategy would be to start with a request to reduce the credit limit on your existing TY Premier -- then apply for a new card. Whatever approach you decide to take, please post an update here.
     
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  3. LXJenkins
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    LXJenkins Silver Member

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    I definitely would advise against asking for a reduction in credit.

    My experience with Citi has been the opposite of M7VO. When I haven't received an instant approval I've found that Citi is receptive to me volunteering to close one of my existing Citi cards in order to use that credit to be approved for the new card.
     
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  4. marcwint55

    marcwint55 Gold Member

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    You may want to contact the retention department at Citi and see if they will give you a decent offer to keep the card.
    In the past I had been able to move credit lines between Citi cards, but last time I tried they declined me and said they no longer allow that due to the recent laws enacted by congress.
     
  5. mrx900
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    mrx900 Silver Member

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    true...you never want to decrease credit lines....I remember that from back in the day......I think I'll apply for the CITI HHonors card, and then if I get rejected, Ill call in, and cancel this card, and *move* the credit line over to the new card.........now that I know they will do, cuz they did it with my AA cards I got....
     

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