Should I Transfer My Credit Line??

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Dylan1982
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Should I Transfer My Credit Line??

Postby Dylan1982 » Sun Dec 30, 2012 2:35 pm

I have the Citi Thank You Preferred and the Citi Diamond Preferred cards, both have a CL of $4,600. I have never used the Diamond Preferred card yet.

Here is my question. Should I call Citi and see if I can take the CL from the Diamond Preferred card and see if they are willing to trasnsfer that CL to my Thank You Preferred card?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


agp
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Postby agp » Sun Dec 30, 2012 2:42 pm

Do that but leave a little credit on the Diamond Preferred so you can hold onto it to bring up your credit age.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

Dylan1982
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Postby Dylan1982 » Sun Dec 30, 2012 2:54 pm

agp wrote:Do that but leave a little credit on the Diamond Preferred so you can hold onto it to bring up your credit age.

How hard is it to do what I am asking to do? Do I just talk to the regular CSR to get my request done?

How much of the CL should I transfer to the TY card?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


agp
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Postby agp » Sun Dec 30, 2012 4:48 pm

I have never done it with Citi. Call CSR, should not be difficult.

I would leave the minimum amount allowed on the Diamond preferred then sock drawer the card. Besides, in case your card gets stolen or lost, you won't be liable to dispute big charges anyway since you can't buy much with a few hundred bucks.

Main Card: Amex Platinum
For gas: Penfed Platinum Cash Rewards
For travel & dining: Chase Sapphire Preferred

Dylan1982
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Postby Dylan1982 » Wed Feb 06, 2013 1:15 pm

I actually finally got around to doing this today, I called and talked to 2 CSR and both told me that what I want to do ins't possible.... Anyone else have any ideas?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

hjamespyun
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Postby hjamespyun » Wed Feb 06, 2013 2:31 pm

I think it may have to do with the CARD act not allowing any "changes" to accounts under a year old [though TBH I am not totally sure about this].

Maybe you can also try product changing any of the cards to something else that Citi offers when the first year passes? Just a thought :-).
Cards In Use
Chase Sapphire Visa Signature (Downgraded from Sapphire Preferred)
American Express Platinum (Upgraded from Premier Rewards Gold)
Citi ThankYou Preferred World Elite MasterCard

CC Deville
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Postby CC Deville » Wed Feb 06, 2013 5:28 pm

hjamespyun wrote:I think it may have to do with the CARD act not allowing any "changes" to accounts under a year old [though TBH I am not totally sure about this].

Maybe you can also try product changing any of the cards to something else that Citi offers when the first year passes? Just a thought :-).


+ 1 yup, they usually wont do any changes within the first year. As for after the 1st year: a few years ago when they upgraded my Dividend Platinum Select to World I asked if they would change the card to a Visa or AMEX to avoid the World "upgrade" (at that time Citi did not report credit lines on World) and they said that they were unable to make changes to accounts due to CARD Act (the account was 10 years old at the time). I have not tried (or needed to) change any of my Citibank accounts recently, but back between 2008-2010 they claimed the CARD Act prevented them from making product changes or combining credit lines.


hjamespyun
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Postby hjamespyun » Wed Feb 06, 2013 8:23 pm

That's odd you say that CC. I remember sometime between 2010-11 being allowed to product change my TY Preferred to TY Premier, though I never pulled the trigger. Having said that though, one rep said I was not allowed to, but another nearly did it for me; YMMV.
Cards In Use
Chase Sapphire Visa Signature (Downgraded from Sapphire Preferred)
American Express Platinum (Upgraded from Premier Rewards Gold)
Citi ThankYou Preferred World Elite MasterCard

paparoach429
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Postby paparoach429 » Thu Feb 07, 2013 2:15 am

I bank with Citi and when I was thinking about opening another credit card with them and combining the limits they also told me that they dont do that. Maybe its just a Citibank thing.

CC Deville
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Postby CC Deville » Thu Feb 07, 2013 3:33 pm

hjamespyun wrote:That's odd you say that CC. I remember sometime between 2010-11 being allowed to product change my TY Preferred to TY Premier, though I never pulled the trigger. Having said that though, one rep said I was not allowed to, but another nearly did it for me; YMMV.


Right, my only experience with them on that was in 2010 when I wanted to avoid the World MasterCard "upgrade." In hindsight it didn't matter because a) Citibank now reports the limits on World and Signature cards and b) they ended up upgrading most of the Platinum Select Dividends anyway in 2011 without needing an account number change.

Their response was that they basically blamed CARD Act for not being able to convert. Previously, Citibank was all too happy to convert networks, products etc. It may be different now and they have loosened up.



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