Citi 6 month soft pull CLI declined

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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MemberSince99
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Citi 6 month soft pull CLI declined

Postby MemberSince99 » Thu Jun 19, 2014 7:05 pm

I expected it after all I don't carry a balance and I haven't put that much spend on the card. Even though it said it would not generate an inquiry, I went and checked after I got declined and there was no new inquiry. So fortunately they would true to their word on that.


More than anything it was to see if where I thought I stood with them is where I stand. I think that I can safely say the answer is yes. I'm sure if I at least gave them a bunch of spend which isn't happening, or carried a balance which will happen over my dead body, I could probably work that SP CLI someday, but at this point, I think Citi is going to go. Frankly I just have other lenders I'd rather give the spend to, nothing personal, just business, just as my decline on the CLI was business and I would have reached the same decision. I don't blame them. But I just don't need/use this card.


So this will be the first one closed. Discover is hanging on by a thread. If anything goes after this, that will be next. It's hard to close them out they are nice people, but again business is business....so I'm going to consider if there is a spot for it in my wallet. Even if I close them I STILL have too many cards in my opinion. I'd IDEALLY like 3 of them - the two Amex cards and Associated. I just really don't want to close Freedom or BofA because they have decent limits. But frankly those 3 would be a great core for me and make my life easier. I'm going to at least entertain the idea. And Chase and BofA have done nothing to me either it's just I really want to make life as easy as I can. That's all it is.


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Postby MemberSince99 » Fri Jun 20, 2014 5:13 am

On that note, I went to the Discover site this morning and sent a message asking them to close.


I'm serious about downsizing to a set of core cards that want my business and giving them that business and just going with that.


I'm done with the days of trying to please companies that my customer profile isn't much of a fit for (like Citi and Discover) - if they want your business they'll let you know and take care of you and if not, why give them swipes and keep them around.
I'm done too with having a billion cards to try to squeeze every cent out of rewards - this card for 5% on this, that card for 3% on that, etc until you have so many cards you need to keep track of them in a spreadsheet to maximize your return. I mean if I am THAT worried about saving money, I'll just spend less. I don't care that much about maximizing every rewards penny I'd rather build good business relationships with a core of companies and leave it at that. The rest will take care of itself. Not knocking those who try to optimize every penny it's just that is the kind of analysis I have to do for work and when I'm on my time it's the LAST thing I feel like doing.


So now, honestly, the Freedom and BofA card are on the hot seat. I can't close Freedom as I have a charge coming through on it today but after it posts and I pay that who knows. Nothing against Chase at all, but I'm serious about making my life easier at this point, and as I've stated 3 cards, the two Amex and the Associated is about as easy as it gets. We'll see, but I'm not really currently using either card except a small recurring charge and that's a waste of those cards.

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Postby MemberSince99 » Fri Jun 20, 2014 6:56 am

BofA also closed. I'm done for now. 4 cards is still one more than I want long term but I may work with that for now and see how it goes.

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Postby kcm7 » Fri Jun 20, 2014 10:23 am

MemberSince99 wrote:I'm serious about downsizing to a set of core cards that want my business and giving them that business and just going with that.
I'm done with the days of trying to please companies that my customer profile isn't much of a fit for (like Citi and Discover) - if they want your business they'll let you know and take care of you and if not, why give them swipes and keep them around.
I'm done too with having a billion cards to try to squeeze every cent out of rewards - this card for 5% on this, that card for 3% on that, etc until you have so many cards you need to keep track of them in a spreadsheet to maximize your return.


This is a really good point. I know a couple people who are credit card hoarders. And they'll complain about what one card or the other is doing/not doing. So why won't they just cancel the card that's ticking them off and use the ones that treat them well? Ask them that, and you'll get an earful about how one doesn't simply cancel cards. Ever.

I know some people enjoy juggling cards and maximizing rewards and all of that, but at some point you need to think about the value of your time.
Cards:

-Capital One Quicksilver
-Barclaycard Arrival (no AF)
- US Bank (no rewards)
-IHG

MemberSince99
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Postby MemberSince99 » Fri Jun 20, 2014 12:22 pm

Exactly. That's where it is for me. I'd rather concentrate on giving the lenders who have shown they want my business swipes. I simply don't make and spend enough to keep a lot of them happy and profitable on me. So if I have many cards, some are simply not going to be happy with the business I can give them. It's not really fair to them to leave a card open just to have it open when they can't make a profit, and it's not fair to me to have to babysit an account I'm really not using. Hence why I've closed certain cards. And it's not just about limit - BofA gave me a generous starting limit. It's just that I don't have the swipes to go around.


I still feel I have one card too many but with 4 cards it's a lot easier to handle one than to have 9 cards as I had a month ago. I'm thinking for the time being I will keep the Freedom open though. And there is the thing about diversification - to a point it's good. One extra card isn't that much work. But I'm happy giving the swipes to Amex and Associated.


Some will think I did a crazy if not evil thing, but they don't have to manage those cards when they judge either. I deal with enough stress from work, so I try to avoid it when I'm on my own time. As long as my cards fit me and my lifestyle it's all good. I don't judge if others have 30 cards, I just can't imagine how they can manage them all. But if they can do it, I gotta tip my hat to them.

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Postby MemberSince99 » Fri Jun 20, 2014 5:17 pm

Just out of curiousity, I read the reason for the decline. The reason they gave is "too many new open accounts". Yep, true enough. Well I have a few less accounts open now....

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Postby MB131174 » Sat Jun 21, 2014 5:04 pm

You know, I'm to the point where I want simplicity too. I have strayed from my one-card-for-everything plan and it ended up biting me in the badonkadonk. Not seeing my total spend on one card let me get out of hand on spending simply because "this card for this reward, that card for that reward, and oh hey! this card for that simply because!! yay!" I didn't see my total, over-all spend and about fell over when I added up my total balance due for one month. So much for rewards. I got a different wallet, one that has 2 card slots. In the top slot is my Hyatt Visa Signature with the $15,000 limit. More than enough. Second slot is my corporate visa that work issued me. Everything, literally everything, will be going on the Hyatt again. I usually find I get between 2.5 and 3 cents value when cashing in for rooms, so I'm pleased. All spend. One card. Simple. Done. Bam. Nice thing is the card also gives the free annual night, more than offsetting the yearly fee. Plus the no FTF and the fact Chase is going to be switching to chip & PIN... I feel this card is a winner. For me. #ymmv
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Postby MemberSince99 » Sat Jun 21, 2014 7:11 pm

If that's what works best for you I'd say go for it, with the caveat that "optimal" scoring requires 2 or 3 cards according to FICO. Plus having a backup card isn't a bad idea as well as having more than one type (say Visa and Amex).


I just had too many for me personally to manage. When I got them it was always my intention to just try them out and compare them and keep the ones I liked best. Usually those companies also want my business and show it. Chase seems to be kind of indifferent to me but frankly I don't blame them because I burned them. But I also burned Amex yet they let me back in and gave me a CLI so maybe Chase will eventually come around too (though I know they are not really known for soft CLIs). Actually Chase really doesn't have to do anything else honestly.


But anyway, I am quite happy to live with 4 cards. I keep thinking 3 would be ideal but 4 isn't really that much more. The way I'm doing it now is, Amex EDP is for lunch, bills that take Amex, and gas and groceries which gets me to the 30 transactions a month to get the bonus. Platinum is for travel. Associated is for my car payment and rent (which don't take Amex) and anything else that doesn't take Amex. Chase is really the only thing I haven't figured out how to work into the mix yet. So as you see I can't keep a bunch of lenders happy (profitable) and in fact I still have pretty much more than I can feed, but I'm not currently looking to close Freedom (and that's why I say 3 would be optimal both for my usage and for my score).


I will probably never understand how some on FICO keep track of 25 to 30 credit cards (and also actually use them). Even with a spreadsheet it seems like a part time job.

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Postby MB131174 » Sat Jun 21, 2014 7:28 pm

I'm keeping all my cards. Might run like $5 on each card every 6 to 10 months to keep them "active".
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Postby supercoolman » Sat Jun 21, 2014 10:59 pm

what's so good about the Associated Bank Accelerated Rewards VISA besides the high limit?



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