What is The Credit Limit For Citi Custom Cash Card?

What Is the Citi Custom Cash Card?

The Citi Custom Cash Card is a Citi credit card that allows you to choose a spending category each billing cycle to earn 5% cash back on up to $500 in purchases.

That means you get to pick where you want your high rewards to go, whether it’s gas, groceries, restaurants, drugstores, home improvement stores or many other options.

This card has no annual fee and a modest welcome bonus, but it really shines in its long-term earning potential if you frequently spend in one of the eligible 5% categories.

How the Citi Custom Cash Card’s Credit Limit Works

The Citi Custom Cash Card has an initial credit limit. Here’s how it works:

Initial limits range from $300 to $10,000, depending on your creditworthiness. Citi will determine your initial credit limit based on factors like your credit score, income, and existing credit limits with other cards.

After making 5 on-time minimum payments, you can request a credit limit increase through Citi’s website or mobile app. Citi may perform a soft credit check.

Limits can potentially reach $100,000+ with excellent credit and payment history. But increases happen gradually. Don’t request one too soon.

You can use nearly all of your available credit limit. Citi allows credit utilization up to 95% before excess activity fees kick in.

Carrying high balances close to the limit can negatively impact your credit score over time. Try to keep it below 30% if possible.

Making more than the minimum payment each month helps. Even paying a little extra knocks down balances faster over time.

Citi can also lower limits without warning if your financial situation changes. Missed payments may trigger reductions too.

Be strategic when charges start to approach your existing credit limit. Pay down balances before requesting an increase, or switch some spending to another card temporarily if you’re getting close to maxing out the Custom Cash Card.

What Credit Score Do You Need for the Citi Custom Cash Card?

Here’s a breakdown of the credit score ranges Citi typically looks for:

Excellent credit: 750 and higher
Good credit: 700 – 749
Fair credit: 650 – 699
Poor/Limited credit: Under 650

As you can see, while it’s possible to get approved with a score as low as 700, your chances are highest if your score is over 750. The higher your credit score, the more likely you’ll not only qualify, but also receive the best terms like lower APRs.

Why Your Credit Score Matters

Issuers like Citi use credit scores to evaluate how risky it might be to approve a new account. Higher scores signal you have demonstrated responsible credit behavior in the past. This includes things like:

Making at least minimum payments on time
Keeping credit card balances low
Not opening too many new accounts recently

All of these factors can influence the benefits and terms you are offered. So the higher your score, the better.

If your credit score isn’t where you’d like it to be yet, there are steps you can take to boost it over time. Paying all bills on time and keeping credit card balances under 30% of the limit are two impactful ways to start improving your credit health right away.

Tips for Getting a Higher Credit Limit on the Citi Custom Cash Card

The Citi Custom Cash Card starts with a minimum credit limit of $500. However, there are ways you can try to increase your limit over time:

Make all minimum payments on time. Payment history accounts for around 35% of your FICO credit score. Staying current on all debts shows lenders you can responsibly manage more credit. Setting up autopay is an easy way to never miss a payment.

Keep credit card balances low. Try to keep your balance below 30% of your current limit. Credit utilization ratio makes up another 30% of your score. Lower balances prove you don’t over rely on credit. Consider paying down cards before requesting more credit.

Check your credit report for errors. Mistakes on your report can unfairly lower your score. File disputes over inaccurate personal or account details. Higher scores make you eligible for bigger limits. Monitoring your report also guards against identity theft.

Ask for periodic credit limit increases. After 5-6 months of responsible use, request a higher limit. Income growth and positive history with Citi also boosts your odds for approval. Consider timing requests with expected salary increases.

Apply for other Citi cards. Getting approved for additional Citi credit cards can lead your current accounts to receive automatic limit boosts, thanks to the bank’s internal policy. This avoids new hard pulls on your credit.

FAQ: Answering Common Questions About the Citi Custom Cash Card Credit Limit

Here are answers to some frequently asked questions.

1. How is the credit limit determined?

Citi considers factors like your income, existing credit limits with other cards, credit score, and overall credit profile when setting the Custom Cash card’s initial limit. Those with excellent credit scores (720+) typically qualify for higher starting limits.

2. What is the minimum credit limit?

The lowest credit limit offered is $500. If approved for a lower amount, Citi will counteroffer $500. This makes the Custom Cash card accessible even if you’re new to credit cards.

3. How can I increase my credit limit over time?

After making 5-6 months of on-time payments you can request a credit limit increase online or through Citi’s mobile app. They may perform a soft credit check before approving increases. Your limit can also be increased automatically later on based on your usage and payment patterns.

4. Are there ways to know if I’ll get approved for a high limit?

Those with excellent credit (scores of 720+) and moderate existing credit card balances tend to get approved for higher Custom Cash card limits of $10,000 or more. Citi may initially counteroffer a lower amount if you apply for a very high limit.

5. What credit score is recommended for the best terms?

You can get approved with a score around 670, but interest rates are higher. Aim for a score of 720+ for the best chances at a 0% intro APR on purchases and balance transfers, along with a higher credit limit.

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