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Be a good consumer... - Paint It Black
Living the American dream one heartbreaking piece at a time
feren
feren
Be a good consumer...
Apparently Citi thinks I have been neglecting my duties to help stimulate the local, national and global economy. To this end they decided to send me a small envelope with a pull-out message inside.

Needless to say I felt sort of like Korben Dallas when I pulled the little sheet out of the envelope and saw "Dear Feren, congratulations!" I was half-waiting for a little mechanical-sounding voice to crow, "You're a winner! Hah-hah-hah!" when I read that opening line. I read down a little further and saw "For your card ending in 6080, we have granted a credit line increase. Your credit line is now $18,400. It's our way of thanking loyal card members like you." Yes, they really printed the limit in boldface. At the bottom was a little jibe that made me smile. Underneath the CEO's signature they printed a little line that read, "P.S. Enjoy your higher credit line of $18,400 today." Yes, little minion, go and spend! Incur interest and merchant fees so that we may remain profitable!

I love it when somebody's intentions are so transparent.

Still I was a little perplexed by this development since I'd just received a credit line increase from them about two months ago. Maybe they're getting nervous since I haven't spent any money with the card recently. Still, it's always nice -- if dangerous -- to have a higher credit limit. I know that I can handle the responsibility and I'm pleased to think of the positive effect that this will have upon my credit score. According to the credit score simulation program I've got access to this increase will reflect well upon me when I go to buy a house. I'd have a perfect score if I didn't have those late payments back in 1998 and 1999, but I can't change the past and I've learned from my mistakes.

Most amusing to me was when I opened up Quicken to update my CitiBank profile (Quicken can keep track of the credit limit of any card you set up in the "Banking Center."). When I clicked on "Credit Limit" it showed me what had been, until just recently, my Citicard's limit. The maximum amount I could spend on the card until this week? $12,600. And now I've got a credit limit of $18,400. That's a $5,800 limit increase.

Very cool.

I come back feelin' like a fool who's believin'

Current Mood: amused amused
Current Music: Various Artists - Orbital - Halcyon

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Comments
angelwind From: angelwind Date: June 23rd, 2003 07:25 pm (UTC) (Link)
I remember when Discover upped my limit from $1500 to $2000...man did I get myself in trouble with that.

Credit is evil anyway.
urocyon From: urocyon Date: June 23rd, 2003 08:27 pm (UTC) (Link)
Gotta boost it up just a bit more so you can afford that V480 you were gonna get me. So close!
vakkotaur From: vakkotaur Date: June 24th, 2003 02:34 am (UTC) (Link)
Some money & finance radio program had a question about why credit card companies increased credit limits. It seems the answer is that there are many folks will use a set fraction of the limit. So if someone is willing to let $200 ride on a $2000 limit card, they might up it to $4000 to hopefully get $400 riding on it. Makes sense - for the card company. For the customer, paying it off as fast as possible makes sense.
hightensile From: hightensile Date: June 24th, 2003 05:08 am (UTC) (Link)

Would it burst your bubble...

Ya' know, I've gotten the same two notices in the past three months but I take a completely different spin on it. I take it as bad tidings for Citibank and I wonder how they could be worried about their profits at a time when, one would think, everyone would be using their credit cards with a 'smoke 'em if you've got 'em' mentality.

Troubling, most troubling.

In the meantime, I can almost afford this!

(Not.)
--Kit
jingle From: jingle Date: June 25th, 2003 05:51 am (UTC) (Link)
*pout* Your credit line is $560 higher than mine! No fair! =( Cit-iiiii! *pokel* Feren got more than I did!
Seriously, paying this off will be a task, but now that I'm working a second job and making an extra $500 or so a month, I can help stomp it down a little faster.
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