Originally Posted by accutrader

Hello,

I recently upgraded to a new Citi AA Platinum card that gave me 40,000 miles bonus and I was offered a relatively small credit limit of $10,000. I have also held a Citi AA Gold card for many many years now, and I have a very high credit limit, which I don't use, but I would like to transfer over to the Platinum. My goal is to transfer the credit limit from the Gold to the Platinum, AND cancel the Gold card. The gold card annual membership fee is $50, the Platinum is $95 (1st year's fee is waived). So I called customer service today and the representative told me that she can only guarantee a transfer of $10,000 to the Platinum, no more than that. I explained my predicament and she was able to offer me to waive this year's $50 membership fee of the Gold card, which by the way is the only balance I carry on card, allowing me to keep the card free of charge for another year, and still enjoy a large credit limit for any impending emergency (which I'm pretty certain I may not need at all). This time next year, the membership fee will kick in again, and I'll have to pay the $50 membership fee then....

Since I will NOT be using the Gold card any longer, does it make sense to cancel it altogether, and perhaps later on in the year request a credit limit increase to the Platinum? A credit limit of $20,000 is very high as it is, I have never reached anything above $10,000 in expenses with any particular card on any given month (I pay it down every month). But at the same time, I don't want to miss out on any privileges that shows that I'm an a trustworthy account holder that manages its large credit balance reasonably well (I know that a large credit balance does affect my credit rating, but I'm still rated as Excellent). Most importantly, if I'm to upgrade to a different Citi card down the road and claim its sign in bonus miles (which I can in 18 months), I don't want to be seen as a relatively new guy with low credit worthiness. From my perspective, high credit limit, high credit worthiness, and viceversa... Am I right here or not?

Any suggestions as to what to do from anyone having experienced something similar?
Thanks in advance!
A