The credit limit for the Citi® Diamond Preferred® card starts at $ 500 and can go up to $ 10,000 for the most creditworthy borrowers. According to our research, the average credit limit for borrowers with good to excellent credit (a credit score of 661 or higher) ranges from $ 5,209 to $ 9,543. Many applicants report having received credit limits ranging from $ 3,000 to $ 5,000, although some report limits of up to $ 16,000.
Your credit limit will depend on a variety of factors, and there is no way to know what your credit limit will be until you apply. To have the best chance of getting a high credit limit for the Citi® Diamond Preferred® card, you will need excellent credit, sufficient income, and a low debt-to-income ratio (DTI). Your DTI is your overall credit card debt divided by your overall credit limit, and it’s a good idea to keep that number below 30%.
A high credit limit can be helpful in maintaining a low DTI, which will improve your credit score. It’s easier to do when you have a higher credit limit, but it’s still possible with a low credit limit as long as you keep your balance to a minimum.
If you are not satisfied with the credit limit on your Citi® Diamond Preferred® card, you can request an increase by logging into your account or calling Citi customer service. An on-time payment history with your Citi® Diamond Preferred® card and no recent negative ratings on your credit report will improve your chances of approval.
Keep in mind that these requests sometimes cause your credit report to drop sharply, which could lower your score by a few points. You can ask before submitting your request whether Citi will perform soft or hard pulling. Citi may also perform an automatic credit limit increase for cardholders who have accumulated a positive history or seen an improvement in their credit score.
If you plan to use the Card to complete a balance transfer and pay off debt, you will need a Citi® Diamond Preferred® Card credit limit high enough to cover your balance transfer plus the transfer fee. balance. You can make a balance transfer of $ 500 or more, but the balance transfer cannot exceed your credit limit. Keep in mind that you might not be approved for a credit limit that can cover the debt you are paying off, in which case you will only be able to transfer a portion of your balance.
If you are not getting approved for the Citi® Diamond Preferred® card credit limit you want, use your card regularly and pay it off in full and on time each month. After you have established a positive relationship with Citi and seen improvements in your credit score, you may be able to get your credit limit increased.