It's probably just me and I admit that I am spoiled by getting nice increases on all of my cards including citi cards but this one has me stumped. I have a citi plat select business card with a 5K limit that has been at 5K for almost two years. I've never charged a purchase on this card but have used it extensviely for balance transfers so they have made money off of me. Is this the George factor at play or are they this anal with everyone? Feedback, please.
If you keep transferred balances on your CitiBusiness card, you may be making only minimum payments. That's the rational thing to do, but Citibank hates it. I continually get turned down for limit increases by Citibank because of "low paybal" or similar formulations. They recently turned me down for a credit card for the same reason.
How do they make money off of you? They don't get any fees off the BT itself except the fee you pay, and that's usually max $50. Even if you pay a fairly high APR (which you probably don't), they make more money off transaction fees - I'd think a better plan, if you want a cl increase, is to trade off which cards you do interest-free or low-interest BTs. -jpr
I've done 3 balance transfers for $2500 each. The last two were at 4.9 with no transaction fees. Monthly payments were $300.
