Citi Flex Line of Credit
from Citibank

Same happened to me my limit was just cut from 12,000 to 9,700 barely 200 over my balance. BoA did the same thing cut me from 15,000 to 10,000 I owe 9,400 on that one. i think there is some sereiuos pro active risk management going on. Both citi and BoA took tarp money so who knows what kind of trouble the U.S. banking system is in.

owed 9500.00 credit limit 13000.00 citi flex dropped my credit limit to 8800.00 now im over the limit. and ive paid more than i owe every payment.still cant figure it all out.

never been late, always paid over the minimum and they slashed my credit line from $20000 to $7!

Never again. Got their Line, used it once, been paying on it over minimum, never late on theirs or anything else, they just cut my line to $125 over my balance (wiping out over 1/2 of my previous line). Today I did a BT to pay these bastards off and I will be paying 0% for a year on the BT. I closed the Flex line account, shredded the checks and sent the remains of the checks back with the fina…l payment.
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I thought that this was a nice thing at first. I decided to use it after having it for a year and I had a limit of $15,000 and I deposited a check into my checking for $5,000 and a month or two later they decreased my line of credit to what I had used so on my credit report it showed me as being maxed out. The next month they gave me an additional $300 on my LOC . I would be leary of them becau…se they are known for decreasing your LOC without telling you and I have read numerous reports about them on the internet.
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clark774 is right, having this line available increases the amount of available credit you have, which lowers your utilization percentage.

i signed up for it just to have it as emergency funds.

Is a great addition to one's credit portfolio, especially since they now report the credit limit on all 3 credit reporting agencies reports. Kudos.

Staff

The rate on the Citi Flex Line of Credit is competitive, but not great. I got my checks from them within 2 weeks of opening the account, which was fairly quick.

Currently, I don't use this at all, just as an emergency source of money. I was really impressed that they gave me a huge credit line of $23k.

Most of the times though, you can probably get a better deal with credit cards. But if… you are carrying a balance and stuck on some crazy credit card interest rate of 20% or more, this can really save me. My APR is 11.99%.
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