- Platinum Member
- Posts: 93
- Joined: Wed Aug 17, 2011 10:53 pm
- Location: USA
It's also determined in general by your credit score and report and this is what the rep said generally translates into:
- too many accounts with balances = your debt to credit ratio is negatively impacting your credit score
- accounts with small credit limits = potential indication of your income level and/or that you are still kind of "new" in establishing your credit history and/or have not established any big ticket credit in the installments department
Also, Citibank is famous for not wanting their current customers to have too many credit cards/carry too much debt. Despite the fact that my debt to credit ratio wasn't even 10% for my Citicard and despite the fact that I have excellent credit and have maintained excellent credit for the last 7 years, I still got the preapproved account paydown offer for the chance to pay down my card with Citibank matching my payments up to 30% or whatever it was in exchange for the card's limit being cut.
When I called them after seeing the email and website notification, they apologized to me for sending me out the mailer and when I asked them who the mailer had been geared towards and why I had received one out of the blue, they told me that they had a lot of customers who had multiple lines of credit open with them with high debt to credit ratios and so were giving incentives to help them pay the debts off. I asked if Citibank would think it bad if I wanted to apply for one of their other cards and they said 2 shouldn't matter, but more than two can become kind of iffy.
I have a business card with Chase and Chase told me the same thing, but in a much less polite manner.
AMEX: Everyday (MR), Macy's (cobranded)
MASTER: Citibank Dividend Platinum Select (non-World version)
VISA: Chase Amazon Signature, Chase (bank issued)
GE: Care Credit (medical expenses), Macy's (store), JCP (store)
AMEX: Costco True Earnings
VISA: Chase Ink Cash