just tried for the cit advantage card so I could upgrade to the plat card. I have one already but after reading previous posts I figured why not try. I got the "needs further processing" which is a no. I called a citi rep last night and asked her why I am always getting the no to an increase when I try on-line.I always get the "low pay balance" I always pay double and triple the mininum.I actually just made a 3580.00 payment and got that answer. She told me that with a credit line of 5000.00 or over they like to see 5 or 6 times the mininum for 6 months.I think thats crap!
Zip,did she also tell you santa is coming in a few weeks? What they like to see is minimum payments forever.
She said she spoke with her supervisor and he told her to be sure to thank me for the large payment. I told her that it was kind of a strange comment as now they would not be making any money off me anymore!
The rep told you the truth. Increases & interest rates are determined by their internal scores. The scoring model assigns much higher values to customers paying well over the minimum payment. Granted, customers sending minimum payments represent more profit, but also a higher credit risk. By the same token, cash advances are great revenue generators for lenders, yet they too lower your internal score. Saar
