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Posted by Bob Wang on September 19, 2007, 8:32 pm
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Margaret:
Yes, I got the same letter, and I actually think it's a good idea for me.
The World MasterCards have no preset spending limit, so you can go over the
limit w/o having to worry.
(Just not TOO far over)
Another benefit is that I like to "hide" my available credit, so there is
not a problem of "He's got SOOOO much credit already, why should WE give him
another card."
IOW, the World MasterCards DO NOT report actual credit limit.
That is actually a problem for people who don't have a LOT of credit
already, since World MasterCards look like they are "maxed out" all the
time, and their overall utilization percentage would go up.
I actually put most of my spending on my Amex Platinum anyway, same
situation, looks maxed all the time, but about a quarter-century of history
probably counts for something.
In theory, Citi MAY report high balance, but I guess we'll see ;-)
Right now, the only thing that goes on my Dividend is Comcast, so I wasn't
really worried about going over-limit anyway, but as I said, I like the
change.
But, seriously, *IF* you don't have a lot of other cards, and you ARE
putting a lot on the Dividend, your utilization is going to go up, and your
FICO is going to go down as a result.
Bob
>>>
Heh heh, actually I probably should have said 2lbs. I was referring to
the length of my post, er tome. :-) BTW, Bob, the irony of all this is
that a couple weeks ago, I got an offer from CitiCards that they were
going to automatically "upgrade" my Citi Platinum Dividends card to the
"world" version, but it would mean changing my credit card number. As I
don't travel much at all, my main concerns were the dividends not be any
less than I get with my current card, and that my CC num not change,
because I have so many payments autocharged to it. My water/electric co
is famous for screwing up whenever I've moved their payment to another
CC, for one.... And now my number's going to change anyway. Ah well,
such is life.
BTW, this morning when I did my daily download, my CitiDiv card
downloaded a couple "normal" transactions, then a few of the weird ones
mentioned in this thread, and then I got another ~$200 balance
adjustment (charge) when Quicken reconciled. I've found Citibank to be
pretty good when it comes to customer service, esp the few times I've
had to resort to disputing a charge, so I don't really have any concerns
that this will get worked out. I just find it strange indeed that I can
use the card but not see any transactions on the web site, and that
Quicken downloads ... well, I won't repeat myself any further. :-)
When I first got the letter from Citi that they were going to "upgrade"
my card, I almost posted hoping you'd have a comment on the difference
between these cards ... I know you're one of -- if not *the* CC expert
on this group. :-)
<End tome 2>
Regards,
Margaret
Bob Wang wrote:
> Margaret:
>
> Anyway, my $2 worth. ;-)
> <<<
>
> WOW!
> Usually I'm only charged $0.02 ;-)
>
> Bob
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Posted by Bob Wang on September 19, 2007, 9:10 pm
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Margaret:
Hmmmmmm.
I should have looked at my credit reports before answering.
I always ASSUMED that World MasterCards do not report credit limits.
Well, my Saks World MasterCard actually DOES report the credit limit, but
marks the card as "Flexible Spending Credit."
So, if Citi does the same thing, forget what I wrote about utilization :-)
Bob
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Posted by Bob Wang on September 19, 2007, 9:19 pm
Please log in for more thread options Margaret:
OK, I think this will be my last word on the subject.
I have 3 Citi cards that are "no limit," PremierPass Amex, MasterCard and
Hilton Visa Signature.
Citi DOES NOT report credit limit, DOES NOT report high balance on those 3
cards.
So, I expect Citi will be doing the same with the Citi Dividend World
MasterCard.
Bottom line, caution about utilization MIGHT still be valid, time will tell.
Bob
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Posted by Bob Wang on September 19, 2007, 9:24 pm
Please log in for more thread options Please, please tune this out, people who are not interested.
My Citi PremierPass Elite level MasterCard is actually a World MasterCard,
so Citi's treatement of other World MasterCards SHOULD be similar.
Bob
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Posted by Andrew on September 20, 2007, 8:04 am
Please log in for more thread options Bob Wang wrote:
> Please, please tune this out, people who are not interested.
>
> My Citi PremierPass Elite level MasterCard is actually a World
> MasterCard, so Citi's treatement of other World MasterCards SHOULD be
> similar.
>
> Bob
...and after all this, I still didn't get the magic keystroke! :-)
--
-------------------------------------------------------------
Regards -
- Andrew
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