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Author: mlk58 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308428  
Subject: Multiple Citibank cards? Date: 8/12/2002 1:45 AM
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I opened a Citibank MasterCard account in December to take advantage of a 0% BT offer. I paid it off a few weeks ago, about a month before the 0% rate expired.

This week I got a "pre-approved" offer for a new Citibank card, with no transfer fee and 0% interest through November 2003. I currently have all my remaining debt on a 0% card that is good through June 2003, and have plans to have it paid off by March. But it would be great to transfer some of it to a 0-until-November card, just to have a little breathing room.

Here's my question: Will Citibank open the new account for me, even though I have already accepted one of their 0% offers? And would it make any difference if I cancelled the existing account?

Thanks for your help.

mlk58
31 months down, 8 to go
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Author: xraymd Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 136323 of 308428
Subject: Re: Multiple Citibank cards? Date: 8/12/2002 2:22 AM
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Here's my question: Will Citibank open the new account for me, even though I have already accepted one of their 0% offers? And would it make any difference if I cancelled the existing account?

Greetings, mlk58, I went through this with Citibank this summer. I believe that you can have a combined total of 3 open cards with Citibank plus Universal (now owned by Citibank). I also applied for a Universal Card 0% 1-year offer but was turned down initially for having too many Citibank/Universal cards. At that time, I had my Citibank Aadvantage (American Airlines) airmiles card - paid off monthly, my Universal Card with a 5.9% for life of balance rate (with my outstanding credit card balance) and an empty Citibank card that used to have a balance on it at 0% but which had been fully paid off before any finance charges hit.

I was able to speak to someone in customer service who was willing to CLOSE the empty Citibank card and divert its credit limit for use in OPENING the Universal Card - once this was done, I still had a total of 3 open Citibank/Universal cards, this time 2 Universal and one Citibank. I used a balance transfer check made out to me to "pay off" the 5.9% for life so I could switch it to 0% for a year (I am also hoping to get this balance either completely paid off by then or else move what small residual remains to yet another zero-to-low rate offer at that time).

The bottom line seems to be this: if you are already at your maximum number of Citibank/Universal cards, consider closing one of them but ask to have its credit limit added to one of your currently open cards. Then apply for the new offer, asking for that "saved" credit limit to be used towards the credit limit of the new card. If necessary, try to to discuss your plan beforehand with the Application Status department (whose numbers are (800)662-7759 or (888)201-4523 - you need to have your offer in your hand when you call). They seem very helpful AND EMPOWERED to make this work for you. Good luck!

xraymd


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Author: shulamite One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 136333 of 308428
Subject: Re: Multiple Citibank cards? Date: 8/12/2002 8:09 AM
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mlk,

If that 0% pre-approval has your name on it, you can call Citibank retention (1-800-444-2568 direct, so don't lose this number) and ask them to transfer that offer to your current card.

No need to open a new account, no need to gnerate another inquiry. Just call retention, and tell them "I'd like to remain with Citibank b/c I've enjoyed ___________, and I'd like to have Citibank honor this pre-approval for a new card on my current card".


They'll do it on Citi pre-approvals and AT&T Universal approvals, too. You just have to fax in a copy of the pre-approval and it takes about 48 hours to show up on your current account.






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