When you’re approved for the Citi® Double Cash Card – 18 month BT offer, Citi sets a credit limit based on your income and credit history. Many consumers have reported receiving starting credit limits between $1,000 and $10,000 with the Citi® Double Cash Card – 18 month BT offer card. Although credit limits in that range are most common, it’s possible to get more or less than that. For example, some people have gotten $25,000 to start, and others have gotten $500.
A high credit score increases your chances of a high credit limit. Here are the average credit limits for Americans by their credit score range:
- 781-850: $9,543
- 661-780: $5,209
- 601-660: $2,277
- 500-600: $966
- 300-499: $509
Most successful applicants for the Citi® Double Cash Card – 18 month BT offer card have a credit score of at least 700. So, to get this card, you’ll likely need to be in one of those top two ranges, which could help you qualify for a credit limit from $5,000 to $10,000.
That’s not guaranteed, though. You can’t be 100% sure what your starting credit limit will be until you’re approved for the Citi® Double Cash Card – 18 month BT offer card. Fortunately, you may be able to increase it quickly if you’re not satisfied. Some cardholders have successfully requested credit line increases immediately after getting the card. You can ask for a credit line increase with Citi either by calling the number on the back of your card or online by following these steps:
- Log in to your Citi account.
- Under the “Services” tab, click “Credit Card Services.”
- Click “Request a Credit Line Increase.”
- Enter your annual income and your monthly mortgage or rent payment.
- Submit the form.
You’ll receive a response right away letting you know if you got the increase.
Your starting credit limit is especially important if you’re planning to get the Citi® Double Cash Card – 18 month BT offer to refinance debt. Since it has a 0% intro APR for 18 months on balance transfers, it’s one of the best balance transfer credit cards and can save you quite a bit of money. The amount of debt you can transfer will depend on your credit limit. Your balance transfers, plus the 3% balance transfer fee (with a $5 minimum), can’t be more than your card’s credit limit.
That could be an issue if your starting credit limit is lower than you’d like. If you have $5,000 in credit card debt and Citi gives you a $2,000 credit limit, then you can’t take full advantage of the balance transfer offer.
To be fair, this is a possibility with any balance transfer card. Every card issuer sets your credit limit when it approves you for a credit card. There’s no way to know in advance if your balance transfer card will have a large enough credit line for all the balances you want to transfer.
The good news is that Citi makes it easy to request a higher credit limit. Even if you’re not approved for the amount you want at first, you may be able to get an immediate increase.
View more information: https://www.fool.com/the-ascent/credit-cards/citi-double-cash-credit-limit/