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Low Credit Limit with Citi
Old 09-20-2016, 10:19 AM   #1
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Low Credit Limit with Citi

I learned about the 2% cashback thru Citi Bank credit card last year on this forum. I applied for a card, was given a $6100 credit limit. I've paid my balance in full every month and on time. We are taking an Alaskan cruise next summer, my final payment will be due in February, probably around $9K. I requested an increase on my credit limit, it was denied. Last year's taxable income was $102K, we have no debt, home is paid for, retired five years ago. CITI is going to send me a letter explaining why I was denied an increase, they wouldn't tell me on the phone.

Why would I have been denied? I think around $3K is the most we've had charged in one month this past year. We have a credit score of just over 800. I do realize I can pay half the cruise cost in January and the other half in February.
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Old 09-20-2016, 10:34 AM   #2
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When you filled out the application for the CC did you state your household income was 100K ?

This could be an opportunity to get the Chase sapphire preferred or even the sapphire reserve card as you would easily hit the $4K spending in 3 months for the bonus.

I suppose the only issue is you would lose all CC travel insurance as no card would have paid for the entire booking.
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Old 09-20-2016, 10:39 AM   #3
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I applied to Citi 2X M/C to raise our credit limit due to large upcoming house expenses, and they refused, not b/c our income is too low, but b/c they wait 6 months between credit limit increases and we'd just gotten one.

So far I have gotten around this by making twice-monthly payments, thus keeping the balance low enough to keep adding more charges. Could you pay for half the Alaskan trip balance now, and half later?
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Old 09-20-2016, 10:42 AM   #4
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I'm not sure what income I listed when I applied for the card. I think when the card was issued the credit limit was around $5K. I asked for an increase and have my income listed as $75K. It was increased to $6100.

When I spoke to customer service just now, I looked up last year's taxes and saw the $102K.
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Old 09-20-2016, 10:56 AM   #5
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Maybe by Oct, you will have waited long enough for a credit limit increase to 10K ?

Probably you need to suggest the limit amount, because otherwise they might just have some rule of a 20% or 30% increase, when you want a 50% or even 100%.
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Old 09-20-2016, 01:41 PM   #6
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They usually look at your total revolving credit. Do you have a bunch of credit cards, store cards, etc.?

Also, I have had the problem many times where I closed accounts, but the credit card company only puts the account on some sort of hold, but it still shows on your credit report. I only realize this when I pull my credit report and see the account still listed. Discover Card was the hardest one to get rid of.
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