FINAL ATTEMPT Before Escalation -- CitiBank Closed Account with 100% Positive Payment History

these guys are crooks


they lure working class people into excess debt to trap them into high
interest rates

there are no more loan sharks because the banking industry can now
practice usury - legally

our laws to protect the common man from this are a joke (which is the
fault of democrats AND republicans who have looked the other way for
nearly two decades)

when they weren't successful in luring you into this trap , they
dropped you

the low interest rates are the lure - since you didn't fall for it,
they don't want you to keep getting the low rates


other comments here may be valid but the bottom line is the low
interest rates are a lure -- based on the fact that you didn't fall
into the trap OR meet some other high and mighty criteria, they no
longer want you to get the low interest rate (which was NEVER anything
but a trap)

Good for you that you didn't fall for it -- then you would be paying
22 % or more on your 501 dollar balance (plus excessively high fees
for overlimit etc.)

count yourself lucky and burn the cards (after you cut them up)

Sounds to me like the other 14 accounts on your credit report are
what's getting you into trouble. Citibank is probably afraid that
you've bitten off more than you can chew, and if they give you a CLI,
you could also be getting the same from your 14 other accounts and
that could put you at risk.
I also have a Citibank card, and they continue to give me CLIs without
me even asking. This is probably because I only have 5 other lines of
credit on my report. Too much credit does not equal good credit. It
actually has an adverse effect, even if you pay on time.

My suggestion to you, if you value your Citicard the most, would be to
close out a lot of these other lines of credit. There has got to be
some that you aren't using. Closing them on your terms will not affect
you negatively.

I believe that the entire point of having a contract expire is that
neither party is obligated to continue the relationship.

It doesn't even matter what the "frivolous reasons" are -- they could
close your account because they think your trousers are too short and
you're showing an unseemly amount of ankle.

But at least at the moment the issue is utilization. Here's the
thing: how much debt you have is relative to your credit limit, not
to other people's credit limits. You owe them 84% of the amount
they'll let you owe. The fact that $420 doesn't seem like a lot of
money to you is irrelevant. The fact that it would look better if
your limit were $1,500 or $1,500,000 doesn't matter, because those
aren't your credit limits.

I do rather admire your chutzpah in responding to their decision not
to keep you at the current credit limit with a request that they take
you back with a higher one. But while it's an audacious thing to do,
I think it is also futile. They don't want you to have the credit
card, and you, the AG, the Governor, the FTC, the BBB, and
RipOffReport can't demand that they give you one anyway.

Sorry Paul,

Threats and name dropping and bullying and not being forthcoming on
what YOU consider "Several Frivolous reasons" then offering four lame
excuses why they should reconsider....eh, in a nutshell, I wouldn't
hold my breath waiting for a favorable response.

Citi Bank can weigh their risks and do what they want to protect their
interest. Until you're paid in full, They OWN you, they make the
calls.

Of course if we know the "frivolous" reasons, then it may make it
easier for us to see the big picture....

"I will notify my personal contacts within the Colorado Attorney
General and Governor's offices..."

I'd love to hear their responses, if any.

I seriously doubt in view of the fact they have closed your account
(for "several frivolous reasons") that they are going to turn around,
re-open it and triple your credit limit due to your demands and
threats. It appears that you no longer meeting their lending criteria
and they no longer want you as a customer.

What were the "several frivolous reasons" for not renewing your
account. Since you fail to mention them, I am assuming they may well
be valid and you are just trying to make CitiBank to be the bad guy.

I have never had a creditor refuse to renew my account. Then again I
don't buy things I can't afford ( I pay my balance in full every
month) Which of course the credit company's don't really like since
they make a lot of profit on high interest rates.