Citi Bank & Citigroup "Citi's Yard Sale"

  • Posts: 3479

Replied by hjm331 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

No it is reporting as a credit limit.


That's a first
9 years 3 weeks ago #1

Please Log in or Create an account to join the conversation.

  • Wanderer
  • Wanderer's Avatar Topic Author
  • Offline
  • Moderator
  • Moderator
  • Posts: 1261

Replied by Wanderer on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

I'm assuming that means it's reporting as a line of credit?


No it is reporting as a credit limit.
9 years 3 weeks ago #2

Please Log in or Create an account to join the conversation.

  • Posts: 3479

Replied by hjm331 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

As a followup, I have a World Mastercard and they assign what they term as a revolve line of credit. They report the revolve line of credit. This is good since it doesn't show as expenditures against your total credit bureau utilization without some line of credit backing the dollars spent.


I'm assuming that means it's reporting as a line of credit?
9 years 3 weeks ago #3

Please Log in or Create an account to join the conversation.

  • Wanderer
  • Wanderer's Avatar Topic Author
  • Offline
  • Moderator
  • Moderator
  • Posts: 1261

Replied by Wanderer on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Personally, I don't have any cards without a pre-set limit aka Visa Signature or World Mastercard cards. However, I've read that they don't report as revolving credit so therefore, it does need effect your utilization or your score. In other words, whatever that doesn't show up as revolving credit will not be factored into your overall utilization.


As a followup, I have a World Mastercard and they assign what they term as a revolve line of credit. They report the revolve line of credit. This is good since it doesn't show as expenditures against your total credit bureau utilization without some line of credit backing the dollars spent.
9 years 4 weeks ago #4

Please Log in or Create an account to join the conversation.

  • Posts: 3479

Replied by hjm331 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Personally, I don't have any cards without a pre-set limit aka Visa Signature or World Mastercard cards. However, I've read that they don't report as revolving credit so therefore, it does need effect your utilization or your score. In other words, whatever that doesn't show up as revolving credit will not be factored into your overall utilization.
9 years 4 weeks ago #5

Please Log in or Create an account to join the conversation.

  • Posts: 123

Replied by kdb030609 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Exactly. Almost any reward card going forward is likely to be a World or Signature to help offset the cost of the reward.


Does anyone know if they will change The way they figure out what your FICO is? Now that all the banks seem to be changing a lot of their cards to Visa Signature & World Mastercards since the card act. Considering the effect they have based on the way they report on your credit bureau. Because we all know they can have a negative effect.
9 years 4 weeks ago #6

Please Log in or Create an account to join the conversation.

  • Posts: 142

Replied by Rockin35 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Thanks Colonative, I'm glad someone else feels the same way!


Rockin35
9 years 4 weeks ago #7

Please Log in or Create an account to join the conversation.

  • Posts: 1257

Replied by ColoNative on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

I don't really get whats going on with Citibank.

I just got 1 Citi Mastercard preapproval letter in May, in June I recieved a Shell Gas Card preapproval and as of today, I recieved a Citgo Gas Card pre-approval.

Why send out so many offers, all to later change the citi-name and re-issue cards to everybody with a new logo???? I don't get it.

Rockin35


Hi Rockin! What do you mean re-issue cards with a new logo? You mean, upgrading from Platinum to World?
9 years 4 weeks ago #8

Please Log in or Create an account to join the conversation.

  • Posts: 1257

Replied by ColoNative on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Not really sure why they're sending out so many pre-approvals but I do know one thing and that's Citi or any lender being more profitable from Visa Signature or World Mastercard credit cards. Why? Two words


Exactly. Almost any reward card going forward is likely to be a World or Signature to help offset the cost of the reward.
9 years 4 weeks ago #9

Please Log in or Create an account to join the conversation.

  • Posts: 3479

Replied by hjm331 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Not really sure why they're sending out so many pre-approvals but I do know one thing and that's Citi or any lender being more profitable from Visa Signature or World Mastercard credit cards. Why? Two words: MERCHANT FEES.
9 years 4 weeks ago #10

Please Log in or Create an account to join the conversation.

  • Wanderer
  • Wanderer's Avatar Topic Author
  • Offline
  • Moderator
  • Moderator
  • Posts: 1261

Replied by Wanderer on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

I don't really get whats going on with Citibank.

I just got 1 Citi Mastercard preapproval letter in May, in June I recieved a Shell Gas Card preapproval and as of today, I recieved a Citgo Gas Card pre-approval.

Why send out so many offers, all to later change the citi-name and re-issue cards to everybody with a new logo???? I don't get it.

Rockin35


You ask a good question...? With Citi under pressure to right size and so on... I sure don't get it?!
9 years 4 weeks ago #11

Please Log in or Create an account to join the conversation.

  • Posts: 142

Replied by Rockin35 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

I don't really get whats going on with Citibank.

I just got 1 Citi Mastercard preapproval letter in May, in June I recieved a Shell Gas Card preapproval and as of today, I recieved a Citgo Gas Card pre-approval.

Why send out so many offers, all to later change the citi-name and re-issue cards to everybody with a new logo???? I don't get it.

Rockin35
9 years 4 weeks ago #12

Please Log in or Create an account to join the conversation.

  • Posts: 1257

Replied by ColoNative on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

I still have some pre approval offers from First USA for their platinum card(it was a big white envelope) from 97 in my files....boy i need a shredder bad


LOL. I still have my pre-approval for my Capital One card (my first card ever) from 12/97. Ah memories!
9 years 1 month ago #13

Please Log in or Create an account to join the conversation.

  • Posts: 359

Replied by eugene66 on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

I still have some pre approval offers from First USA for their platinum card(it was a big white envelope) from 97 in my files....boy i need a shredder bad:laugh:

I closed a couple of good cards in those days because i hardly ever used them.
9 years 1 month ago #14

Please Log in or Create an account to join the conversation.

  • Posts: 1257

Replied by ColoNative on topic Re: Citi Bank & Citigroup "Citi's Yard Sale"

Actually I pif all of my cards which makes the apr irrelevant but just out curiosity I asked to have my apr(13%) lowered and "bang" done I was like what lol. Discover is accepted everywhere I go but I make my cashback killing with them through shopdiscover which I have earned as much as 20% in some outlets


I do too for the most part. For me it is principle. If I am a long time cardholder and I have excellent credit, why jack my APR up?

I have had the APR's on all three of my Citibank cards lowered several times in the past 12 years and after a few months they always go back up.

Discover rocks.
9 years 1 month ago #15

Please Log in or Create an account to join the conversation.