Though I had an iPad Pro

jquest68

macrumors regular
Original poster
Jun 26, 2016
102
13
Georgia
I thought I was gonna get the iPad Pro 10.5 when I went to BestBuy. Apparently my card is cancelled in March. I bought an iPen in October thinking that I was gonna get an iPad Pro by Feb-Mar but people told me that a new one was coming out so wait.
I waited and then I go to the store and felt so embarrassed when they told me my card was cancelled by Citibank. Man I really wanted it but they said I had too many inquiries. I had $1000 credit limit and was gonna trade in my iPad Air 2. So now I have to wait a while to get it.

I just had to share my sad story, lol.
 

roccobladr

macrumors 6502
Jul 25, 2011
294
35
I thought I was gonna get the iPad Pro 10.5 when I went to BestBuy. Apparently my card is cancelled in March. I bought an iPen in October thinking that I was gonna get an iPad Pro by Feb-Mar but people told me that a new one was coming out so wait.
I waited and then I go to the store and felt so embarrassed when they told me my card was cancelled by Citibank. Man I really wanted it but they said I had too many inquiries. I had $1000 credit limit and was gonna trade in my iPad Air 2. So now I have to wait a while to get it.

I just had to share my sad story, lol.
Sad, but not as sad of a story as the 2007 Mets ;)
 

OKLY

macrumors member
Jun 12, 2017
51
45
Malaysia
I thought I was gonna get the iPad Pro 10.5 when I went to BestBuy. Apparently my card is cancelled in March. I bought an iPen in October thinking that I was gonna get an iPad Pro by Feb-Mar but people told me that a new one was coming out so wait.
I waited and then I go to the store and felt so embarrassed when they told me my card was cancelled by Citibank. Man I really wanted it but they said I had too many inquiries. I had $1000 credit limit and was gonna trade in my iPad Air 2. So now I have to wait a while to get it.

I just had to share my sad story, lol.
The time will come, patience is all you need.
 

jquest68

macrumors regular
Original poster
Jun 26, 2016
102
13
Georgia
Too many inquires? Not understanding why it was cancelled.
I guess it means too many credit cards. I have about 4 plus my debit bank. The reason why I had so many is because of school. I had to buy books, pay for classes and other supplies. Sucks wish I hadn't but I had to. But they're almost paid. I guess I'll have to wait a while. maybe working an extra shift at work.
[doublepost=1498243729][/doublepost]
Not paying tends to cause it to be canceled. So does opening up too much new credit that you cannot afford.
I was good at paying my BestBuy. Whenever I buy something I pay it off before the "no financing fee" was over. I bought my iPad Air 2 from there and finished paying it off in less than 6 months. Too much new credit could be, because I had to get credit cards for school. Moving to another State is expensive when you're being charged out-of-state fees.
 

DcGamer05

macrumors regular
Mar 27, 2011
210
50
Danbury CT
You should call and ask why it was cancelled. Maybe it was for fraud reasons. You should really find out. You should also be monitoring your credit with credit karma. It's not the best but it's a good tool.

I have 6 credit cards and have not had one cancelled on me. There has to be underlying reason and you should contact them to make sure your other cards are safe.

Also to if your utilization is too high on your cards try to pay down some debt before charging more. And also pay more than the minimum otherwise cards with interest will take forever to pay off.
Credit is very important these days and you should definitely monitor it and handle it with care.

Believe me 4 cards is not a lot. I just opened up my 6th card the other day an Amex everyday card so as long as you manage it properly you'll be fine.
 

Bart Kela

Suspended
Oct 12, 2016
865
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Lenders look at your entire credit situation, not just your account with them or your recent payment history.

In this case, Citibank noticed a high amount of credit for your income and a large percentage of that credit being used, meaning you owe a bunch of money on your other cards. That likely convinced Citibank to decline to renew your credit, as you already owe a lot to other lenders they considered you too high of a risk.

Having a bunch of credit cards isn't inherently a risk. However having a high percentage of credit usage on those cards is. As DcGamer05 mentions, having four cards isn't a lot. I have five myself and my current credit utilization is less than 0.23%.

Credit reports also show lenders whether or not you have been punctual with your payments to various other lenders.

Debit cards do not show up on credit reports, they aren't credit.

It is important to manage your credit well these day, it's not just cellular phone companies and credit card issuers that look at your credit. A clean credit report with a high credit score will reduce interest rates from lenders for things such as mortgages and auto loans. I believe more insurance companies, landlords and employers are also pulling credit reports.
 
Last edited:

alecgold

macrumors 65816
Oct 11, 2007
1,100
546
NLD
6 cards is a lot over here. I know it’s different in the states.
I have one card, rarely used as all I pay is debit/cash. Or I don’t buy.

Edit: but it sucks to have it withdrawn.
You should, as others have argues, look into this. I had two times my card suspended. Once because of a huge payment I made. Once because it had been used fraudulent all over the world for tiny amounts. Both times I was called by the issuer to ask if it was all right.
 
Last edited:

Trogdor796

macrumors regular
Apr 21, 2015
108
70
6 cards is a lot over here. I know it’s different in the states.
I have one card, rarely used as all I pay is debit/cash. Or I don’t buy.

Edit: but it sucks to have it withdrawn.
You should, as others have argues, look into this. I had two times my card suspended. Once because of a huge payment I made. Once because it had been used fraudulent all over the world for tiny amounts. Both times I was called by the issuer to ask if it was all right.
You should use your credit card though...that's what builds good credit. Just use it for stuff you are buying that you know you can afford. Like if you grab something to eat once a week, just use it for that, then pay it off every month/cycle, so you get no interest. If you use credit cards correctly, they can only help you, not harm you.

EDIT - not to mention that you get better fraud protection when paying with a credit card as opposed to debit, and often times reward points and extras like extended warranty and price-drop protection.
 

wib

macrumors regular
Nov 16, 2013
124
81
6 cards is a lot over here. I know it’s different in the states.
I have one card, rarely used as all I pay is debit/cash. Or I don’t buy.
I just wanted to say that I'm a cash person too, but I buy big things with a credit card for the convenience and extra protection. I actually save up cash all year around and keep it somewhere safe. When a new iPad or phone comes along, I pay with Amex and then pay the whole thing off the minute I get the bill with that cash. I wouldn't be comfortable going into debt to buy something, so only do it when I physically have the money to pay. I only use my c.c. for tech and flights, but cash for everything else.
 
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alecgold

macrumors 65816
Oct 11, 2007
1,100
546
NLD
You should use your credit card though...that's what builds good credit. Just use it for stuff you are buying that you know you can afford. Like if you grab something to eat once a week, just use it for that, then pay it off every month/cycle, so you get no interest. If you use credit cards correctly, they can only help you, not harm you.

EDIT - not to mention that you get better fraud protection when paying with a credit card as opposed to debit, and often times reward points and extras like extended warranty and price-drop protection.
I just wanted to say that I'm a cash person too, but I buy big things with a credit card for the convenience and extra protection. I actually save up cash all year around and keep it somewhere safe. When a new iPad or phone comes along, I pay with Amex and then pay the whole thing off the minute I get the bill with that cash. I wouldn't be comfortable going into debt to buy something, so only do it when I physically have the money to pay. I only use my c.c. for tech and flights, but cash for everything else.
I have a good friend that buys everything with his credit card. Candy, fuel, electronics, couch, clothing, anything. He appreciates the (excellent) insurance on the card. He pays his card back monthly.
Come to think of it, I bought my recent 10.5 with my cc as well. Apple Store debit system didn’t work. So I used my card. But that will also be paid back this week.

Fraud is hardly a problem with the debit bankcards here. They are not credit-card-like debit cards, they use the emv chip and if the card does get skimmed the bank reimburses you.

Credit building is done differently over here. With your income and some other data a maximum amount is determined that should be safe. So having a credit card lowers your remaking credit rating because it lowers the total remaining amount of credit. Personally leasing a car, having a mortgage, rent, alimony, loans, all those things are taken into account. If it is done right.

I don’t think either system is better by definition. IMHO paying with plastic is “dangerous” anyway because it doesn’t feel like spending/parting with money. 0,05 is the same as spending 1500 on a iPad Pro.
And I personally dislike to own anybody money. I don’t like it with friends, but I particularly hate it to own money to big companies like visa/banks/retail chains.
 

tambur123

macrumors member
Nov 1, 2012
50
63
I will never understand people who buy things they cannot afford or why somebody needs to own a credit card. Things are so very different in Europe from this point of view.
 

spiderman0616

macrumors 68040
Aug 1, 2010
3,451
3,688
It's not called "iPen". I'm also not wearing an "iWatch" or listening to music on an "iTouch". I sometimes wish Apple had never started the whole "i" thing.
 
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missbing

macrumors 6502
Sep 27, 2015
349
611
I will never understand people who buy things they cannot afford or why somebody needs to own a credit card. Things are so very different in Europe from this point of view.
If people are responsible and don't buy what they can't pay off that month credits card are great to use. Getting the right cards can give you cash back and rewards. For example I have an airline credit card that I use for everything (food, clothes, electronics, bills, etc) and each month I pay it off so I pay no interest but I get airline points with each purchase. I get a minimum of 4 free round trip airline tickets each year doing this.
 
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UOThief

macrumors member
Nov 23, 2015
45
37
Bay Area, CA
I will never understand people who buy things they cannot afford or why somebody needs to own a credit card. Things are so very different in Europe from this point of view.
If you pay off your credit card every month, it's a great, easy way to improve your credit score over time. Do this with multiple cards; even better.

Not the same in Europe?
 

inhalexhale1

macrumors 65816
Jul 17, 2011
1,019
644
PA
I guess it means too many credit cards. I have about 4 plus my debit bank. The reason why I had so many is because of school. I had to buy books, pay for classes and other supplies. Sucks wish I hadn't but I had to. But they're almost paid. I guess I'll have to wait a while. maybe working an extra shift at work.
[doublepost=1498243729][/doublepost]
I was good at paying my BestBuy. Whenever I buy something I pay it off before the "no financing fee" was over. I bought my iPad Air 2 from there and finished paying it off in less than 6 months. Too much new credit could be, because I had to get credit cards for school. Moving to another State is expensive when you're being charged out-of-state fees.
Why credit cards and not student loans?
 

Steve686

macrumors 68040
Nov 13, 2007
3,183
1,121
US>FL>Miami/Dade>Sunny Isles Beach>Condo
Hmm.

I have 6 credit cards. I keep them at low balances because it has a positive effect on your credit. Mind you, none of these are retail store cards.

You want to use them all just a little so you can have each issuing bank report you pay your bills on time to the credit bureaus.

I wonder if Citi cancelled your card because you may have asked for a credit increase and they reran your credit record?
 
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alecgold

macrumors 65816
Oct 11, 2007
1,100
546
NLD
If you pay off your credit card every month, it's a great, easy way to improve your credit score over time. Do this with multiple cards; even better.

Not the same in Europe?
Here, Europe, Netherlands, Credit building is done differently over here. With your income and some other data a maximum amount is determined that should be safe. So having a credit card lowers your creditrating because it lowers the total remaining amount of remaining available credit space. Personally leasing a car, having a mortgage, rent, alimony, loans, all those things are taken into account. If it is done right.

I don’t think either system is better by definition. IMHO paying with any plastic is “dangerous” anyway because it doesn’t feel like spending/parting with money. With plastic 0,05 is the same as spending 1500 (on a iPad Pro).
And also I personally dislike to owe anybody money. I don’t like it with friends, but I particularly hate it to owe money to big companies like visa/banks/retail chains.
 
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