citibank signup.. transfer amt versus unknown credit limit?

QuarkZero

Hello savers! :j

When I sign up for citi' card, I see that form asking if I'd like to transfer money from other cards. Correct me if I'm wrong but...

If you dont know what your credit limit is going to be, then how can you know how much to transfer from other cards when you join up?

If I exceeded the limit they were prepared to offer with tranfers then what would happen?

This is unnerving me as the terms & conditions state that you lose your supa-cheap promotional rate if you:

7.2 exceed your Credit Limit without our permission; ....

... and when you consider this...

25.6 A Balance Transfer or Cash Advance cannot be stopped or altered after it has been requested.
In my paranoid world-view this means that I'm playing "guess my limit" with a huge penalty for going bust! (ie. poor rate if you transfer too much)

Q1: What would happen if I exceed the limit or try to transfer too much?


or...
Q2. Should I sign up first and then transfer?
After all this site suggests that the citi offer honours the nice rate if you transfer inside 90 days...
http://www.moneysavingexpert.com/cards/balance-transfer-credit-cards#cheapest

BUT... I cant find that info stated anywhere in the offer, or T&Cs and card-people have been know to change them at will

(sorry for the essay)

qz.

QuarkZero

Right ... apologies already if you have just read my last huge post, I've just found under "Rates and Charges"

"Balance Transfers 5.8% for the life of the balance for all balance transfers made within 90 days of account opening date"

therefore... I'll sign up first and see what happens. case closed

qz.

bambi1980_2

Hi,
Wish I had followed your lead....

I signed up for a Citibank card and put on that online application that I wanted to transfer £4600 from Barclaycard. Within a week or so Citibank sent me a pin number. They hadn't sent me any documentation stating what my credit limit would be prior to this. I have since discovered that they only gave me a credit limit of £3000 and paid off £2700 of my Barclaycard debt. So now I am stuck with two credit cards!
I rang up Citibank and spoke with an advisor explaining that I don't want the card now and she simply said 'it's too late'!:mad:

I would strongly advise you to stick to your guns and do a balance transfer after you get your card. It's all a scam if you ask me!!