No. of Recommendations: 2
I wasn't interested in reducing my available credit ratio on my credit reports

Unless you are specifically wanting to decrease your credit score for some reason, I'm not sure why you would not want a lower credit utilization reported. It doesn't hurt anything to have a lower credit utilization, and it may hurt your credit score if you have a higher credit utilization.

My available credit is being inflated quite a bit because of this card, and so closing it will, I know, cause some kind of hit on my credit reports.

Is there a credit limit actually reported for this card? My experience with the no pre-set limit cards, although not with Citi, is that the credit limit isn't actually reported - what is reported is the highest balance that has ever been charged on the card.

Should I close the account or let Citi close the account whenever (if ever) they feel like it?

If you aren't using the account and have no intention of ever using it, then I would say to go ahead and close it, unless you are planning on using your credit score for something (car loan, mortgage, etc.) that you would be concerned about your score potentially changing. If you are interested in what happens to your credit score based on this closure, after the card has been closed long enough for the closure to be reported to the credit bureaus, you could check your score again. If you aren't all that interested in what happens to your credit score, then I would only check your credit reports to ensure that the account has been closed.

If the credit limit isn't actually being reported, and you have never charged anything on the card so there is a $0 high balance being reported, your credit scores may actually increase.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.