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Old 12-11-2011, 06:53 PM
 
Location: Tucson
42,835 posts, read 85,255,052 times
Reputation: 22814

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Something pis*sed me off big time a few days ago and I decided to share. If you have a Citi credit card you don't use, close it! Without any prior notification, Citi sent me a letter letting me know they closed a card I have with them due to inactivity. Now, my credit scores are above 800, I'm not about to take any loans, and I don't really care that much, but that's probably going to hurt my scores some in the short run - first, because the available credit is lower; second (and more important), it may show on the credit reports as an account closed by creditor, but it may not show for what reason! Most importantly, it's just a cheap, crappy, and customer-alienating move!

I couldn't find a e-mail on their website to send the feedback, so I pasted it in the live chat window. The dude told me to call and possibly fix the issue. Heck, I don't need your stinky card! I have and can have any card I want! I told them I hoped they enjoyed their "savings" (it all comes down to reissuing another piece of worthless plastic when the current one expires) because I have no plans to ever touch their "products and services" again!
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Old 12-11-2011, 07:27 PM
 
16,931 posts, read 15,814,635 times
Reputation: 10365
I "think" if the creditor closes it and not for a bad reason, it does not affect your credit score "too much."

Someone here with more knowledge than I might be able to set you straight on that one...

Sometimes having "less available credit" is a GOOD thing to creditors. The MORE cards and open accounts you have, sometimes creates a RISK to the Credit Card Companies and "that" in itself can LOWER your score...
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Old 12-11-2011, 07:38 PM
 
Location: Tucson
42,835 posts, read 85,255,052 times
Reputation: 22814
Quote:
Originally Posted by WannaliveinGreenville View Post
I "think" if the creditor closes it and not for a bad reason, it does not affect your credit score "too much."
It depends on whether the reason is stated or not.

Quote:
Sometimes having "less available credit" is a GOOD thing to creditors. The MORE cards and open accounts you have, sometimes creates a RISK to the Credit Card Companies and "that" in itself can LOWER your score...
That's true to some extent, but I haven't made any changes for years, so it won't be a good thing. Of course, I can always open another account tomorrow, but I don't feel like to.

Quote:
Someone here with more knowledge than I might be able to set you straight on that one...
Oh, I have a Ph.D. in credit reports. I had an ex years ago thanks to whom I spent a good year on fixing them.

Anyway, this thread is not about asking for help; it's about letting other people know what Citi does.
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Old 12-11-2011, 08:21 PM
 
Location: Wherever women are
19,012 posts, read 28,480,815 times
Reputation: 11309
Quote:
Originally Posted by sierraAZ View Post
Something pis*sed me off big time a few days ago and I decided to share. If you have a Citi credit card you don't use, close it! Without any prior notification, Citi sent me a letter letting me know they closed a card I have with them due to inactivity. Now, my credit scores are above 800, I'm not about to take any loans, and I don't really care that much, but that's probably going to hurt my scores some in the short run - first, because the available credit is lower; second (and more important), it may show on the credit reports as an account closed by creditor, but it may not show for what reason! Most importantly, it's just a cheap, crappy, and customer-alienating move!

I couldn't find a e-mail on their website to send the feedback, so I pasted it in the live chat window. The dude told me to call and possibly fix the issue. Heck, I don't need your stinky card! I have and can have any card I want! I told them I hoped they enjoyed their "savings" (it all comes down to reissuing another piece of worthless plastic when the current one expires) because I have no plans to ever touch their "products and services" again!
You can contest it. I have a dispute option in my experian/trans/something third files which has helped me dispute things in the past.

They closed it owing to inactivity, which is no big deal. Mine was a bigger deal where someone mistakenly sent my file to the collections department, coz the admin who worked at that apartment office failed to file my 50$ exit cheque when I left CO. Lazy chick
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Old 12-11-2011, 08:43 PM
 
Location: Tucson
42,835 posts, read 85,255,052 times
Reputation: 22814
Quote:
Originally Posted by Antlered Chamataka View Post
You can contest it.
I haven't looked at my credit reports for about 4 years, but I may in a few months, and if the reason is not there, then some stink IS definitely coming up. The thing is my financial life's been running smoothly and quietly for a long time (since I'm alone that is ) and I just don't feel like having such battles for no reason...
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Old 12-11-2011, 08:56 PM
 
Location: FL
20,695 posts, read 11,775,071 times
Reputation: 5448
Citi isn't the only one that closes accounts for no use. I have had numerous cards do that. I now rotate them every 6 months and put a tank of gas or go to the grocery store and put it on a card that I don't use.
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Old 12-11-2011, 09:08 PM
 
680 posts, read 1,843,331 times
Reputation: 592
Quote:
Originally Posted by Donna-501 View Post
Citi isn't the only one that closes accounts for no use.
Exactly.

The OP should have used his/her card at least once... I'm willing to bet that it was inactive for over a year.

OP, How was Citi to know that the you were ever going to use the card again?

Meanwhile, they are maintaining the account, reporting your "good" payment history, boosting your credit score with "available credit," and actually offering you a credit line should you need it.

You were "using" them to maintain your precious credit score... yet you were not doing anything for them.

Sorry... but the "customer" is not always right... and as much as I dislike big bank bullies, I think Citi was in the right.
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Old 12-12-2011, 06:45 AM
 
Location: Tucson
42,835 posts, read 85,255,052 times
Reputation: 22814
Quote:
Originally Posted by volk2k View Post
Exactly.

The OP should have used his/her card at least once... I'm willing to bet that it was inactive for over a year.

OP, How was Citi to know that the you were ever going to use the card again?

Meanwhile, they are maintaining the account, reporting your "good" payment history, boosting your credit score with "available credit," and actually offering you a credit line should you need it.

You were "using" them to maintain your precious credit score... yet you were not doing anything for them.

Sorry... but the "customer" is not always right... and as much as I dislike big bank bullies, I think Citi was in the right.
I don't have an issue with their wish to close it. I have an issue with the lack of prior notification. At that time I would've either used it or closed it myself.
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Old 12-12-2011, 10:27 AM
 
680 posts, read 1,843,331 times
Reputation: 592
Quote:
Originally Posted by sierraAZ View Post
I don't have an issue with their wish to close it. I have an issue with the lack of prior notification. At that time I would've either used it or closed it myself.
How long had you not used the card?

I'm still willing to bet it was at least a year.

Is prior notification really necessary?

You should have been responsible for monitoring your own inactivity by buying a 50 cent pack of gum with your card every month or so.

And by the way, Citi is not the only company that closes cards due to inactivity without prior notification.
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Old 12-12-2011, 12:59 PM
 
Location: Tucson
42,835 posts, read 85,255,052 times
Reputation: 22814
Quote:
Originally Posted by volk2k View Post
I'm still willing to bet it was at least a year.
As I said, that's not the point.

Quote:
Is prior notification really necessary?
Yes, it is. I opened the account, so unless I've discharged it in bankruptcy, I should be the one closing it.

Quote:
You should have been responsible for monitoring your own inactivity by buying a 50 cent pack of gum with your card every month or so.
I have no desire to complicate my bills in such a manner for no reason.

Quote:
And by the way, Citi is not the only company that closes cards due to inactivity without prior notification.
Wonderful.

In any event, I'm not here to discuss my financial habits with you. The thread is FYI. You probably work for some CC company. Nobody else would be having a fit.
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