Why is my credit limit so low?!

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
8 posts
btownsoccer22
 
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Location: Indiana

Why is my credit limit so low?!

Postby btownsoccer22 » Wed Mar 13, 2013 9:50 pm

So I applied for a Citi Simplicity Visa card and got approved, but one with a $500 credit limit. However I have a Citi Diamond Preferred with a $8300 limit, Amex Blue Cash with a $6500 limit, and a Amex Gold.

I don't know why I only got approved for $500 dollars on the Simplicity. Any ideas why my credit limit is so low?

Thanks


namvet
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Postby namvet » Thu Mar 14, 2013 2:15 pm

If you have several recently opened credit cards that may be the reason. Six months of good pay history should get you a CLI.

mattymatt808
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Postby mattymatt808 » Thu Mar 14, 2013 4:40 pm

You also technically already had $8300 available from Citi, which could justify their decision not to open up that much more to you.
$2500 First Hawaiian Bank (6/10)
$4500 CHASE Freedom (2/13)
$3500 Citi Forward (2/13)
$2000 Discover it (2/13)
$9600 AMEX BCE (3/13)
$10000 CHASE Sapphire Preferred (7/13)
$5000 CHASE Ink Plus (8/13)

ncosky290
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Postby ncosky290 » Thu Mar 14, 2013 4:50 pm

Because it's Citi! Call and see if they can move some of your limit from the Diamond. The simplicity card isn't that good with rewards I think anyways.
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-

btownsoccer22
 
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Postby btownsoccer22 » Thu Mar 14, 2013 5:45 pm

Thanks guy. Also this is off topic but how do I add information to my signature?

MaxPunishment
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Postby MaxPunishment » Sun Mar 17, 2013 6:29 am

mattymatt808 wrote:You also technically already had $8300 available from Citi, which could justify their decision not to open up that much more to you.


This. There's a certain limit of how much total credit a bank will issue to a certain individual, so looks like when they issued you the Citi Diamond, they pretty much gave you that entire amount. You can try to call a rep and argue the limit up and just say the card is unusable as if you charge $200 to it you'll already be at 40% utilization or alternatively you can transfer some of your limit from the Diamond to the Simplicity

Dman316
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Postby Dman316 » Wed Apr 17, 2013 10:12 am

btownsoccer22 wrote:Thanks guy. Also this is off topic but how do I add information to my signature?


You have to wait until you reach around 10 posts and it will be available in your profile options.
My Cards

Chase Freedom Visa Signature: $5.2K
Capital One Quicksilver Visa: $7.5K
Discover IT: $5.5K
Huntington Voice World Mastercard: $1.6K

In the garden indefinitely.

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Z06Biker
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Postby Z06Biker » Thu Apr 18, 2013 3:52 pm

I had the same issue about 4 years ago. Had a Citi Platinum Select with $8300 limit. Applied for the Diamond Preferred and got it with a $1K limit. It was such a joke that I immediately cancelled and made them remove the credit inquiry.
AMEX: PRG Gold, Business Simply Cash, Business Costco, BCE.
Chase: United MileagePlus Club, Sapphire Preferred, Amazon Rewards
Barclaycard Arrival World Mastercard
HSBC Cash or Fly World Mastercard
USAA World Mastercard, USAA Platinum Mastercard
Wells Fargo Business Platinum
USC Credit Union Mastercard



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