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Citi Mastercard / Closed Account without reason

1 LA, United States Review updated:

I received a notice from Citi Mastercard back in January telling me my account was being closed, they did not give any reason for doing this. This is very unfair and uncalled for and I know I'm not the only one to have this happen, I've always paid my bills either before or on the due dates (never late). I had this account for 5 years, its ok though I don't need them or their high Interest cards. I'll continue to pay them off and then tell them exactly what to do with their Citi Mastercard.

Bl
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  • Mg
      28th of Jan, 2009
    0 Votes
    Citi Mastercard - Interest rates
    Citi
    United States

    Rate went from 6.99 to 14.99 no reason for it, my credit score is excellent. I called customer service they said everyone is going up. 45 billion in bail out and they still increased their rates for no reason. I OPTed out and closed account. I read where the government passed a law making it illeagal to do this. The problem is the law takes effect july 2010. This is stupid becauise by then the rates will be where they want them. Most people plan their bills and expenses if you double the bill they probably will be more likely to default. Why would the government not put this law into effect now to help people instead of 2010 to help the banks. Last but not least it is all the banks not just Citi.
    MGP
    Sodus, NY

  • Mc
      2nd of Sep, 2009
    0 Votes

    I received the same letter today Sept 1 2009, (letter dated Aug 27) from Citibank (South Dakota), ''As a result of a recent review we found it necessary to close your Citi MasterCard account. Your account was reviewed by a credit scoring system that assigned a numerical value to various items on your credit report. The information did not score a sufficient number of points to keep your account open.
    Not having been delinquent, no collections filed against us, same line of balances I have carried over the last few years, was a little strange that it was cancelled. Now I am running across the same complaint on a number of website such as this involving the same card. Perhaps this is Citibank's way of getting out of this 0% interest card. But I fear this also maybe messing with mine and a lot of other people's credit scores that don't deserve have a cancelled card on their reports

  • Bl
      9th of Dec, 2009
    0 Votes

    Mcm1701


    The Letter I received from these lowlifes is the same as yours I found it last month. I still feel that what they did is very unfair to people who want to keep their Credit Report & Score in good standing. Now they've been talking about charging us for not using our Credit Cards. I think its pretty damn sorry to be forced into using Credit Cards that you can't afford to pay on because of the steadily increasing high interest rates put on them. The day this happens is the very day I tell them to kiss ###, file for bankruptcy, and never use another Credit Card ever again.

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