whats highest CITI limit possible??

Just wondering why you would want more that 25K in credit from citi.. do you hve a good deal that you are trying to take advantage of or something

 

I've never been over $25K, but I believe some people have. It may depend on the type of account, and I don't know that much about the Citibank accounts. It could be that $25K is the limit for that card.

If you think your credit qualifies for more, contact the executive offices and speak with them.

 

My father has a personal CITI card that he uses for business. He has a 60k limit. He had a 20k limit and then started using it for business, and asked for an increase. He had the card since the early-mid 80's when American Airlines started giving miles with the card. He sent in 2 years financials and they gave him a 60k limit. They capped some airline miles or pissed him off about AA airline miles, so he switched to using a First Usa/ Chase Southwest Airlines card (that he has had for many years) and they upped his limit from like 25k to 125k limit (it might have been a 2 step increase from 25k to 75k and then to 125kâ??I donâ??t remember), but they would decline the card every 19 transactions. After 19 transactions, he would have to call them and have them "Reset the card". He was using it for a lot of advertising (PPC Google and Overture and for other advertising). He got started using AMEX more because after they notice your spending pattern, they never, never decline the card. He puts about 500k a month on the AMEX and 150k on the First Usa. They will let you charge more than your limit if you pay the balance off several times a month. He is so anal about paying bills on time that he must have on off the highest credit scores possible. Unfortunately, I did not inherit that trait from him!

Dave

 

Why would you even need a limit that high? That's just asking for debt trouble and scares banks when you're going to get a mortgage.

 

It depends on your income. If you put a lot of money through a card but pay it off every month, you need to have at least three times what you charge so that you don't show over 35% utilization. The amount that is billed on your statement is what will show as balance.

If you make a very high income, a mortgage company would expect to see you have a lot of credit and handle it appropriately, especially if you're going for a big loan. If you are trying to get a $500k mortgage and had two or three cards at $20-$25K limit, they may think that for some reason you can't get larger limits and can't handle a loan that large.

It all depends on your circumstances. I only have a few cards anymore under $10K, and if they weren't old I'd ditch them. I may anyway.

 

If you can manage your money, make that much and can pay it off, you're not asking for debt trouble, you're using other people's money for a month.

 

I have a 26K limit on my account. I am sure higher limits are possible, however, it would probably be dependent on your income and other factors on your credit report. I combined a few accounts to get that limit. They have also granted a few increases as other cards increased my credit lines, perhaps to keep in check. I would never use such a large amount myself, but I am carrying a 10K balance and paying it down at 4.99% for the life of the balance, so it keeps my utilization levels low.

 

That's the way to do it, Matty. Make sure your utilization stays low.

Combining cards is one way to get higher limits.

 

Good idea. Only pay the minimum payments during the year, no sense in paying more than you have to at 0%. Keep the money on interest, pay it back and pocket the interest.

This is one way to build wealth, which should be your ultimate goal. That's why I always say credit in and of itself is not bad, it's the misuse of credit that is bad.