Citi Platinum Divident/upgrade to Thank you

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LivinSocial
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Citi Platinum Divident/upgrade to Thank you

Postby LivinSocial » Sat Feb 15, 2014 7:45 pm

So basically I have had the Citi Platinum Divident card for the last 4 years. not that great of a cash back program-maybe every 18 months you can get a $50 check for their rewards.

Anyways I was on the phone with the lady at CITI regarding a CL increase (which was denied) and she suggested that I "upgrade" to the thank you rewards card. basically its a different rewards program and my info would transfer over.

I asked her if this was the same as me essentially applying for a new cc but she said no. HOWEVER, after more questioning from me, she did say there was a chance my credit line/APR rate could increase/decrease. I have a low credit score (597) right now and this current card is the highest limit at 3,500. am i crazy to consider her offer of upgrading? how likely is it that my limit will decrease? i need this limit so I cannot afford for it go down. I thought it was a simple card transfer....

can anyone clarify this for me?
thanks!


CC Deville
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Postby CC Deville » Sun Feb 16, 2014 1:16 pm

I have never heard of them lowering a credit line due to an "upgrade" or product change but they do raise and lower APRs depending on the card that you transfer too. Back in 2004 when I changed my Platinum Select to a Dividend my APR raised 1%. Others have reported that their APR went down when switching to Thank You. Having said that, the computer program does all the work for them; so they will evaluate your account and that 597 could have an impact on what changes on the account.

If I had a 597 and somehow the banks didn't already shut my accounts down I think I would keep a low profile but that is just me. Let us know what happens.

rockyrock
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Postby rockyrock » Sun Feb 16, 2014 3:51 pm

CC Deville wrote:
If I had a 597 and somehow the banks didn't already shut my accounts down I think I would keep a low profile but that is just me. Let us know what happens.


+1

It's possible if you do a PC they will conduct a HP which may reveal more leading them to find you less worthy thus reducing your limit.

Not too sure about Citi policies but some only do SP when requesting a CLI.

Good luck.
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DavidNY
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Postby DavidNY » Sun Feb 16, 2014 6:46 pm

CC Deville wrote:If I had a 597 and somehow the banks didn't already shut my accounts down I think I would keep a low profile but that is just me. Let us know what happens.


This .



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