"Credit Limit DECREASE"
Citi® Dividend Platinum Select® Visa® Card Review
Written by: wildrage2 on 2008-04-08
Overall Satisfaction
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wildrage2's review: 
My girlfriend and I were on vacation in Santa Barbara when her card was declined. After we were connected to India, the guy said something intelligence-insulting like 'we looked at your history, and it doesn't look like you needed all that credit' It was decreased from 3,000 to 1,000 with absolutely no notice. Her credit is a lot better than mine (700+), and she plans to try to get a hold of a real account rep soon.
My girlfriend and I were on vacation in Santa Barbara when her card was declined. After we were connected to India, the guy said something intelligence-insulting like 'we looked at your history, and it doesn't look like you needed all that credit' It was decreased from 3,000 to 1,000 with absolutely no notice. Her credit is a lot better than mine (700+), and she plans to try to get a hold of a real account rep soon.
17 Comments
Comment 1 by palten
Can They Do That? 
on 2008-04-08
Can they do that?
they didn't even give you a notice?
i think that's low..
-1 for Citibank
on 2008-04-08 Can they do that?they didn't even give you a notice?
i think that's low..
-1 for Citibank
Comment 2 by meya
That Is So Wrong on 2008-04-08
They act lke she had a $40k limit or something. Forget talking to a rep, I would just close my account. But yes they can do that when they feel like it.
on 2008-04-08 They act lke she had a $40k limit or something. Forget talking to a rep, I would just close my account. But yes they can do that when they feel like it.
Comment 3 by mcnally
I'm Closing The Account! on 2008-04-08
If that ever happen to me, i'll defintely close the account!
i can't imagine the embarrassment they caused you.
they don't even have the decency to inform you by mail or by a call.
that's why this bank is going under!
on 2008-04-08 If that ever happen to me, i'll defintely close the account!i can't imagine the embarrassment they caused you.
they don't even have the decency to inform you by mail or by a call.
that's why this bank is going under!
Comment 4 by arod
WOW..CITIBANK on 2008-04-08
I have Citibank I have one card and my wife has two and they have never lowered our cards but this is crazy good to know.
If that were to happen to us out of anger I will close it too.
We have years with CITIBANK and I never heard of this. Well I could say is that If your credit card went down you must have a delinquent account or something check your credit report this sounds fishy..
Good Luck,
Alex
on 2008-04-08 I have Citibank I have one card and my wife has two and they have never lowered our cards but this is crazy good to know.If that were to happen to us out of anger I will close it too.
We have years with CITIBANK and I never heard of this. Well I could say is that If your credit card went down you must have a delinquent account or something check your credit report this sounds fishy..
Good Luck,
Alex
Comment 5 by mark
Universal Default? on 2008-04-08
Does Citibank do universal default?
maybe that's the reason
but if this is my card, i'll CLOSE it right away... When the CS is giving me the info that my CL was decreased
on 2008-04-08 Does Citibank do universal default?maybe that's the reason
but if this is my card, i'll CLOSE it right away... When the CS is giving me the info that my CL was decreased
Comment 6 by eugene66
Reputation on 2008-04-08
Citi has done this to people I know so when you deal with them precede with caution because they have also been know to close accounts too.
on 2008-04-08 Citi has done this to people I know so when you deal with them precede with caution because they have also been know to close accounts too.
Comment 7 by mark
Close Accounts? on 2008-04-08
Eugene66
close accounts? What if you have a balance? Does that mean you have to pay them right away?
worse, are they going to give that to a collector?
now I'm scared!
on 2008-04-08 Eugene66close accounts? What if you have a balance? Does that mean you have to pay them right away?
worse, are they going to give that to a collector?
now I'm scared!
Comment 8 by arod
Well Hold On on 2008-04-08
If they close your account they allow you to pay it slowly they are always willing to work with you and most bank will also set up payments just so that you don't file bankruptcy... So don't worry about them closing you account this happen to my friend.
Thanks,
Alex
on 2008-04-08 If they close your account they allow you to pay it slowly they are always willing to work with you and most bank will also set up payments just so that you don't file bankruptcy... So don't worry about them closing you account this happen to my friend.Thanks,
Alex
Comment 9 by mark
Thanks on 2008-04-08
Thanks alex!
I don't have any Citibank yet, but the that thought scares me!
anyway, i'll try to apply to other cards before considering them
on 2008-04-08 Thanks alex!I don't have any Citibank yet, but the that thought scares me!
anyway, i'll try to apply to other cards before considering them
Comment 10 by eric
Citi Lowers CL on 2008-04-08
To be honest all banks do this procedure and they do give you warning but of course its after the decrease is done. Make sure you check and open any mail that you get from your banks. I find that to be the biggest culprit for people not knowing that there lines have been decreased. In this instance it could have been decreased that day and they send the letter that day.
on 2008-04-08 To be honest all banks do this procedure and they do give you warning but of course its after the decrease is done. Make sure you check and open any mail that you get from your banks. I find that to be the biggest culprit for people not knowing that there lines have been decreased. In this instance it could have been decreased that day and they send the letter that day.
Comment 11 by hjm331
RE: on 2008-04-08
They shouldn't send a letter. They should CALL the customer to let them know instantly instead of having tio put up with the embarassment of being declined,
on 2008-04-08 They shouldn't send a letter. They should CALL the customer to let them know instantly instead of having tio put up with the embarassment of being declined,
Comment 12 by wildrage2
Decrease on 2008-04-09
She's going to try to call them when we get home.
She hada 3k limit and was carying a $1500 or so balance for the past few months. Last week she made a payment of $750, and almost immediately they dropped the limit... As if they were waiting for her to get it under $1000 before they did it... Some reward, right?
I'm pretty sure her payment history is good on it and other cards. She's got around a 740 score and was just approved for a Chase Freedom.
Oh well...
on 2008-04-09 She's going to try to call them when we get home.She hada 3k limit and was carying a $1500 or so balance for the past few months. Last week she made a payment of $750, and almost immediately they dropped the limit... As if they were waiting for her to get it under $1000 before they did it... Some reward, right?
I'm pretty sure her payment history is good on it and other cards. She's got around a 740 score and was just approved for a Chase Freedom.
Oh well...
Comment 13 by rockin35
Target Visa Does The Same Thing on 2008-04-09
Hey Wildrage2
I did experience a similar situation with Target Visa about 3 years ago. The credit line was $6000 & I had balance trfrd 3 cards to this acct taking it to a max of $5100. I paid it off in about 2 years & by the time I got the bal to 1700, they reduced my credit line to $3000, then to $2000 in 06. By Feb of 07 the bala was 0 and guess what?!! They RE-increased my line to $5000 since June 2007 without me asking. I say, pay Citibank off, keep the card on your credit file/significant others credit file and don't use it except maybe once a year to keep it active.
Sheila
on 2008-04-09 Hey Wildrage2I did experience a similar situation with Target Visa about 3 years ago. The credit line was $6000 & I had balance trfrd 3 cards to this acct taking it to a max of $5100. I paid it off in about 2 years & by the time I got the bal to 1700, they reduced my credit line to $3000, then to $2000 in 06. By Feb of 07 the bala was 0 and guess what?!! They RE-increased my line to $5000 since June 2007 without me asking. I say, pay Citibank off, keep the card on your credit file/significant others credit file and don't use it except maybe once a year to keep it active.
Sheila
Comment 14 by nacholibre
Happened To Me Too on 2008-06-24
Recently CitI did the same thing to me. I had a $12,000 credit limit which I had just recently pushed up to it's limit to fund an investment opportunity. I sent in a payment for $12k last month to drop the balance. I went to use the card for a purchase a couple weeks ago and was declined. I called Citi right then and there and was told my limit had been dropped to $2,000 based on a standard, yearly review of review of my history. I think it is a line of BS as I have had this account since 1989 and they have never decreased my limit. They have regularly inceased my limit. I make a six figure income, have a relatively low house payment and my debt/income ratio is solid. They have other motives for doing this to people and they arent telling. My thoughts are that they have probably extended credit to waaayyy too many people who shouldnt have it and have most likely had a lot of defaults so they put some automated process in place that chops limits with only partial information to make the decision.
I will never do business with Citibank again.
on 2008-06-24 Recently CitI did the same thing to me. I had a $12,000 credit limit which I had just recently pushed up to it's limit to fund an investment opportunity. I sent in a payment for $12k last month to drop the balance. I went to use the card for a purchase a couple weeks ago and was declined. I called Citi right then and there and was told my limit had been dropped to $2,000 based on a standard, yearly review of review of my history. I think it is a line of BS as I have had this account since 1989 and they have never decreased my limit. They have regularly inceased my limit. I make a six figure income, have a relatively low house payment and my debt/income ratio is solid. They have other motives for doing this to people and they arent telling. My thoughts are that they have probably extended credit to waaayyy too many people who shouldnt have it and have most likely had a lot of defaults so they put some automated process in place that chops limits with only partial information to make the decision. I will never do business with Citibank again.
Comment 15 by hjm331
CLD's on 2008-06-24
CLD (Credit line decreases) are starting to become a popular trend and the targets are the consumers who have large limits. The banks are worried that the consumer can rack up charges at any given time and will not be able to pay them back with the way the economy is right now. They raised the credit lines of their good paying customers before our economy went down. Now, they regret it and decrease credit lines to protect themselves from losing money.
on 2008-06-24 CLD (Credit line decreases) are starting to become a popular trend and the targets are the consumers who have large limits. The banks are worried that the consumer can rack up charges at any given time and will not be able to pay them back with the way the economy is right now. They raised the credit lines of their good paying customers before our economy went down. Now, they regret it and decrease credit lines to protect themselves from losing money.
Comment 16 by mnlaura1
CitiBank Viscious Practices on 2009-06-20
I have had an AT&T Universal Card for 17 years. I have never been late on a payment, and usually make payments weeks before the due date. I have had a $2,000 limit for the entire 17 years. Yesterday, without notice, (after having made a $1,000 payment on the account last week, bringing the balance down to the vicinity of $900), CitiBank, the 'owner' of the card, decreased my available credit to $1,360.00 I spoke with an individual in their 'credit management' department, who explained the decrease was due to a recent check on me, on Experian.
Having just won a 9 month battle with melanoma cancer, and suffered the loss of my primary client of five years, (due to a new CEO's sweeping decision to eliminate all subcontractors who had contracts older than 6 months, without regard for the quality of my work or the value of my contribution), I have been struggling financially. My mortgage has suffered the brunt of this struggle, and I am working with them, committed to not defaulting and to avoiding foreclosure. I have not been late on any other payments.
CitiBank, after having my $1,000 payment in pocket, decided to take the cash and run. I believe that, had I not made such a significantly large payment on the account, they would not have taken this action. I am filing all possible complaints with every regulatory body and influential politicians.
The personal impact to me, is as follows:
I had intended to use this CitiBank card to travel across country to visit my mother who is dying, at an annual family reunion. I made the large payment, to cover the travel expenses, rather than taking cash. I am now unable to make this trip.
CitiBank has lost me as a customer, again, having been a customer for 17 years and never been late on a payment.
on 2009-06-20 I have had an AT&T Universal Card for 17 years. I have never been late on a payment, and usually make payments weeks before the due date. I have had a $2,000 limit for the entire 17 years. Yesterday, without notice, (after having made a $1,000 payment on the account last week, bringing the balance down to the vicinity of $900), CitiBank, the 'owner' of the card, decreased my available credit to $1,360.00 I spoke with an individual in their 'credit management' department, who explained the decrease was due to a recent check on me, on Experian. Having just won a 9 month battle with melanoma cancer, and suffered the loss of my primary client of five years, (due to a new CEO's sweeping decision to eliminate all subcontractors who had contracts older than 6 months, without regard for the quality of my work or the value of my contribution), I have been struggling financially. My mortgage has suffered the brunt of this struggle, and I am working with them, committed to not defaulting and to avoiding foreclosure. I have not been late on any other payments.
CitiBank, after having my $1,000 payment in pocket, decided to take the cash and run. I believe that, had I not made such a significantly large payment on the account, they would not have taken this action. I am filing all possible complaints with every regulatory body and influential politicians.
The personal impact to me, is as follows:
I had intended to use this CitiBank card to travel across country to visit my mother who is dying, at an annual family reunion. I made the large payment, to cover the travel expenses, rather than taking cash. I am now unable to make this trip.
CitiBank has lost me as a customer, again, having been a customer for 17 years and never been late on a payment.
Comment 17 by hits100
Re: Credit Limit DECREASE on 2009-10-10
Citicard is becoming nonsense. I have been with Citicards for 10 years. Apparently, one day I received a letter from Citicards saying that they have decreased credit limit on Business Card based on personal credit report from Experian. I have never been late on payments and carried zero balance over last 10 years on all credit cards.
Upon receiving credit statement from Experian, I realized that I owed $12K to many companies (including four cellular providers) which I never bought, used, or purchased. Dispute took only one day with Experian.
How can Citibank make such decisions? I know it's not entirely Citibank's fault but I was the victim of Citibank's actions too. This whole system is going down the drain!
on 2009-10-10 Citicard is becoming nonsense. I have been with Citicards for 10 years. Apparently, one day I received a letter from Citicards saying that they have decreased credit limit on Business Card based on personal credit report from Experian. I have never been late on payments and carried zero balance over last 10 years on all credit cards. Upon receiving credit statement from Experian, I realized that I owed $12K to many companies (including four cellular providers) which I never bought, used, or purchased. Dispute took only one day with Experian.
How can Citibank make such decisions? I know it's not entirely Citibank's fault but I was the victim of Citibank's actions too. This whole system is going down the drain!
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Disclaimer: This content is not provided by Citibank. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by Citibank. Review content is powered by Finance Globe.
