This has happened to thousands of Citi card holders. We're transferring our current balance to another card, and will never give Citibank another dime.

Also, a friend who saw the story said that she received a letter from Citi stating that they're raising her APR to 29.99%, despite on-time monthly payments and excellent credit score.

Obviously, this company is out of control.

Oh, one more thing. There was NO prior notice of the cancellation. The cards were cancelled on a Wednesday, and the letters were (allegedly)sent out the following Monday (I still haven't seen a letter).

Good thing we weren't on vacation somewhere with a hotel bill to pay.

So if the credit card company decides to cancel my card with no warning (or provocation!), will my credit score go down?

Well, you won't be able to charge more on the card, and have to pay off the balance before it's closed completely. Not sure the immediate impact on your score would be.
- ema

Last night, when I went to fill my tank, I was surprised that my Citi Shell card was declined at the pump. I showed the card to the attendant, who submitted it again, and again it was declined. I used another (Citi) card to pay for the gas.

I was surprised because I have always paid the balance in full, on time. Because of the Shell card rebate program, I have bought Shell gas 90%+ of the time for several years. Furthermore, because I use this card exclusively for Shell gasoline, the balances are not large – rarely over $200. I thought it was an administrative mistake.

When I went to the Citi web site, I could not log in. Finally, I called Customer Service.

The CSR informed me that, "My card no longer met their credit quality standards," and that they had closed the account. This, despite the fact that I have always paid Citi in full, and on time.

Citi apparently has received information from Equifax, and I don't know what it could be. (I do have an out-of-state speeding ticket that I have yet to settle, but all my financial relationships are in good shape.)

So I'm out. A perfect (if small) customer – at least on this account.

I am a small businessman. I use credit cards for cash management and operating cash flow. I am very concerned about the impact of Citi's action on the rest of my credit history, and how it can hurt my business.

I have large corporate clients, and I would not be shocked if they "pulled bureaus" as part of their procurement process. (Insurance companies do it when they review policies.)

Moreover, this action lessens my overall credit availability, and therefore lowers my FICO score. With the same dollar amount of credit usage, I now have a higher "balance to credit limit ratio", an important FICO driver. So my credit score will go down.

I do all my business with Citibank, including other accounts with much larger balances. In the past 5 years, I have paid Citi $271,000. I am very concerned that I will wake up one morning, and Citi will have closed my other accounts.

What do I learn?

Do not do all your business with just one bank. With one bank, you are completely at their mercy. And you cannot trust them. They can make decisions that can cripple your business without even telling you.

Ironically, the loyalty incentives banks give you make you more vulnerable to their policy changes. It costs more and it's more hassles to diversify, but you have to protect yourself.

Being a perfect customer is not enough. So tomorrow, I'll go shopping for other sources of credit. Going forward, no bank will get more than 40% of my business.

Wow, what a story! - eileen

I too received the mysterious 29.99% rate hike letter yesterday. Stinging all the more, I just negotiated a change to 5.99% for six months with Citi on this very account two weeks ago. Guess they don't feel obliged to honor our agreement.

When I called the customer service line, the rep quipped, "At least you weren't a Shell card customer. We closed down most of those cards."

if people are having trouble with their debts at the current rates how do these banks think people will pay at the higher rates? i recommend that eveybody not pay their credit cards for a month in protest to tell the banks were mad as hell and were not going to take it anymore.

But then every cardholder would owe a $30 late payment fee, and the banks would be happy, no? - ema

Yeterday, 10-19-09, I got a letter from Citibank stating the interest rate will be going from 14.9% to 29.9 %, effective in November. I have had this card since 1995, never been late not even once. I guess the billions of taxpayer dollars was not enough. Isn't this just blatant loan sharking??? Of course I was told I could opt out, something that will harm my credit rating, but I cannot,will not, and shall not feather their nest any further.

. I am one of the 1% of Bank
of America credit card customers who received a notice
that henceforth I would have to pay a $39 annual fee. I had
maintained that account (unblemished, I might add) for 15
years and cancelled it by return mail.

I don't think it will have a significant impact on my credit score
(well explained by your column) but frankly I would still cancel
the account even if there was a negative impact. Why would
anyone in their right mind pay a bank in order to be abused by it?

I also had my Shell card cancelled unexpectedly. I found out when I went to buy gas on Saturday. I still haven't received a cancellation notice and there is no information on my online account. It just so happens that at the same time my Shell card was cancelled, they approved my application for a Citi Expedia card. Now that they did this, I'm not going to use the Expedia card either.

Same story here, refused at the pump and by the attendant yesterday. A call to Customer service said the account may have been compromised and they tried to call me. Result, card #1 would be okay to use, I refused the offer to send a new card for the second. Have had the account since 1967 and was furious! I only fill up once or twice a month, but won't pay a service charge for a card. Thank goodness, cash still works -- so far.

This isn't just the gas cards they are doing things to.. My wife and I received letters stating they were bumping the APR to 29.99%. Or we could opt out of the account lock in our current APR and close out the account..

I too, have suffered an exorbitant APR increase to 29.99 % without provocation. All persons who are victims of Citibank should e mail all their friends and have them send e mails to everyone they know,(the domino effect),telling them about citibanks shenanigans, and once Citibank feels the sting of losing customers maybe they will straighten up, BUT...it's up to you to get the E mail rolling!!!!

My shell card was canceled with NO notice. My notice was an embarrassing experience at a retail store. To-date I have not received my letter. The rep who answered the phone was rude and cold. I have always had a pleasant experience with Citi, I'm socked and appalled. Between this and the massive bail out that they have taken from the US government and Saudi Prince Alwaleed bin Talal they will never get another dime from me. As a side note, I have never made a late payment and six months ago when they hiked my rate paid the card off in full. I am complaining each day on twitter with hash tag #dailycitirant. Join me!

I also went to the pump this morning and had the card declined. I called Citibank, and they said I did not meet their "criteria." That was a bunch of baloney, I have excellent credit. These companies are doing whatever the heck they want now that the government is starting to rule against them. Too bad, Shell will lose my $200+ I spend every month..

I am a small business owner who spends $3,000-$5,000 a month to fuel a fleet of trucks. We fuel each day and all drivers have(had) their own shell citi card. I was cancelled with no notice, and what a week it has been trying to place enough cash into the hands of each driver. . I have an excellent FICO at 743 and have never missed a payment, late, or over limit. Full balance has been paid in full each month for approx 3 yrs. My business has been compromised by CITI and I will never ever allow them another cent. I am so upset!!!!

I also had my Citibank Shell Mastercard refused at the pump. I only used this card to buy gas for the 5% rebate, never carried a balance, and always paid on time. In the eyes of Citibank I am their worst type of customer. They make little or no money by having to pay the 5% rebate on my gas purchase, they don't collect any finance charges because I don't carry a balance, and they can never collect late fees because I always pay on time. Citibank sees customers like me, and I am sure many others like me, as total liabilities and are just cutting us off. What they don't realize is they are ultimately going to lose more due to customer bad will and negativity they are creating then the money they will save by closing the accounts of loyal customers. A perfect testament to the penny wise and pound foolish adage.

And don't forget those interchange fees! Merchants have to pay the issuers every time you swipe your card ... so they make money on every purchase, whether you carry a balance or not. --- lfk.

cards close

Outlaw ALL usury now. Its immoral, in just about every religion, to engage in usury.

Deuteronomy 23:19 "Thou shall not lend upon usury to thy brother."

Put the money-shifters to work in the fields. Some honest work would do them well.

Cancellation of a credit account whether by the cardholder or issuer directly affects your credit, FICO score. If the card credit limit is small enough (as in some oil cards) your FICO will not take much of a hit. If however the credit limit on the card is high it affects the ratio of credit used against that which is available. This accounts for 30% of your total FICO score, so before you say it's OK for the card issuers to close your accounts at will, remember it's your FICO score taking the hit.

Thanks for the info. - eileen

I am so glad the truth is being broadcast throughout media concerning Citibank's unprofessional conduct with their loyal customers. I also, found out my card was canceled when I went to fill my car up with gas. I immediately called Citibank from my cell phone while still at the gas station, and found out that they really didn't have an answer for me other than, a decision had been made by higher ups in the bank to terminate my account. Being a customer in excellent standing I was taken back by their lack of responsibility to inform me, their customer, prior to canceling my card. It's been a week now from Wednesday's termination date and I am still waiting for the alleged letter that was sent out. Doubt if I see it soon since I had to find the truth from the morning news yesterday. Citibank reported a two billion dollar loss for their first quarter. It's probably best that we have parted business because they are going straight down the drain to BROKE!

I called citi about my card being declined at local shell station. They said they do periodic credit report review and I did not meet requirements of an "internal number". I heard this from 3 different people. I kept asking for someone else hirer up to call me back (and they did) At 8 pm last night an assitant Vice Pres of Custer relations contacted me and said that I am "not profitable" ie pay complete bill on time. So they could not keep me as a customer. They were nice about it but it sure sucks.

Whoa! I can't believe how honest they were being. Definitely sucks. --- lfk.

Was reading this article and have/had a Shell Citibank card. I called to check on available credit and was told the card was cancelled on 10/14/09 and a letter of explanation had been mailed.

Go figure!

Sue, I'm sorry you heard the bad news from us. That's worse than being dumped by text message, or fired by e-mail! --- lfk.

I found out my card was cancelled when I tried to use it. It had a balance that I was paying more than the minimum on that has never been late. Wonder what Shell and Exxon think about this? When I called they told me it was because of something on my credit report (bull). Also when I asked why they didn't notify us they said that they were sending letters. Still don't have a letter as of Wed. Tried to use the card Monday. And this helps Citi how? Less customers means less interest.

Our cards were cancelled as well. Over five years with never a late payment (on this or any card or bill). We got screwed with TARP, now this... What the hell is happening to this country? Why the hell do I pay my bills on time? I should just sit on my a$$ and have Obama take care of me.

I don't know this fact, but it appears that if you paid your balance in full every month, you likely were cancelled. I know, I know, never say never...but I will never be a customer of Citibank again.

It seems Citi, and possibly other banks, are trying to make their policy changes now BEFORE President Obama's new policy on credit card practices go into place.

Citi also increased my rate from 3.99% to 14.99%. With my current balance there's no way I can pay that monthly payment AND live... What are we to do?

My wife an I had our shell account closed also, we found out when she tried using the card to get gas. We used the card mostly for getting gas, sometimes for other things, but always paid the bill in full and on time. (I guess we were not profitable for Citibank).

So the banks wont' give credit because the mess they created, and they take away credit if we pay our bills on time.

I think we all should stop paying are credit card bills, to any bank that got TARP money.

But Erick, then the banks could just charge us late fees! --- lfk.

This EXACT thing hapened to me this morning trying to fill up gas at Shell. The card said it was declined. I called Shell and they gave me a bogus story about how I had some negative reports on my Experian report. I checked my Experian report right away and fount that my report was spotless. This is very frustrating considering since 90% of Citi is OWNED by the tax payers. We are being punished for being upstanding responsible American citizens. What is this world coming to when we have to carry debt under our belts to be patted on our backs??

Well I found out through a letter. Stating that it was closed because prior delinquent credit history. Ok if my credit is so bad why is it in the low 800. I called they said they are changing the way they do business. That is fine go and take your bailout money from my taxes and eat. Will never do business with them again

I just negotiated a lower rate with them earlier this month to take effect this month & today I received s letter stating my acct was suddenly closed due to delinquency on my credit report ...? I have NEVER paid them late in the 3 yrs that I have owned this card! Im furious!

I too learned that my card was canceled without notice while attempting to pump gas. As of today, I have not gotten a letter explaining WHY??? I also have my own business and used this card for multiple work trucks. I have been a customer for 20 years and have never been late and pay about $600+ a month to Shell.I think this was a poor business move and I will NEVER do business with Citi AGAIN!. I will change any account that may be under Citi Immediately to another bank. Looks like Citi has poor customer service as well as a bad future!

This happened to me also. The first thing that happened was the card was declined at the gas station. I did not check on it because I was in a hurry. Then, I got a bill from my electricity providor because the bill had not been paid. I had used the card to set up automatic payments for the account. I just spoke to a customer service rep and got the same run-around as everyone here. This is soo annoying. I can see that it is affecting some of you here worse than it has affected me and this makes me even angrier. Would be great if everyone in this country could jus stop using the "services" of these companies and let them fail.

My Shell card was also canceled. I tried to fill up my tank but was denied. I logged into my account online and everything was fine. I was expecting to receive a new card--I thought maybe my account was compromised and they would send me a new one. But instead I received a letter saying that it was canceled due to "too many revolving credit lines". I have not actually CANCELED three cards last month, so I have 3 fewer cards than I did when I applied for the card.

I payed on time and paid my balance in full most of the time, so I was not a profitable customer.

Just a note to those who say that you are a "great customer". CitiBank sees people who pay on time in full BAD customers. They lose money that way. Keep that in mind.

Account closed, same experience. I suggest sending a letter to Shell Oil in Houston, TX. I did by advising them their brand has been impacted by this decision. I use it for a small fleet. 4, 000 per month. None of that will be Shell going forward. I noticed no one talked about rebates or points. According to the morons in customer service those items are forfeited due to accounts being closed. I await to see if my last statement gives me credit for it. class action to follow if they steal the rebates.

A lot of places don't even accept credit cards anymore or charge extra if you use a credit card because of the banks charging unreasonable fees. Don't the banks realize if we all revert back to cash, they'll be the first ones to miss out?

I got the notice from these clowns the other day too. I had been putting most of my charges on another card to earn free flights and was looking to pay down my bills despite also being laid off.

All of these companies - Healthcare, Credit Cards, other Corporations are showing their true colors in this economy. I think it is a good wake up call and I have taken notice from it. And I'm glad President Obama & Co. are putting their feet to the fire. It has been too long.

Same thing happened to me. I am disabled in a wheelchair last Thurs, Oct 15th I stopped for gas at the Shell station. It was terrible weather I tried to use the card and it would not go through finally it said call card issuer. I had to get back in my vehicle to get another credit card and get back out again. After all of this I was very frustrated! Called Citi thinking there was an error as I pay my acct in full and on time every month, only to be told my acct was closed. When asked why I was told it was because of something on my Equifax credit report. I told them I knew there was nothing negative. I asked when they were planning on notifying me and she said a letter would be sent out. I then asked to speak to a supervisor and then I was told according to their terms and cond they can close accounts at any time and that all rewards and promos are forfeited including the $30 statement credit. After quite some time she said she would give me the stmt credit . Still have not seen it on my acct yet and have not recd the letter. What a way to do business!!!!

THE SAME AS MANY OTHERS MY CITI SHELL GAS CREDIT CARD WAS CLOSED WITH NO WARNING. I HAVE OTHER CITI CREIT CARD ACCOUNTS BUT I WILL NO USE THEM ANY MORE I WILL GIVE MY BUSSINESS TO OTHER BANKS I ALSO HAVE PERSONAL ACCOUNTS AT THIER BANK SUCH AS CHECK ACCOUNTS AND CD'S
I'M CLOSUNG THEM ALL

Same story different person.
I wrote Cancell card on the statement and paid in full.

Will make Adjustments.

I thing the real reason the cards where
cancelled is because everone does paid in full.

I came home today (10/23/09) to find a letter from Citibank cancelling my CitiExxonMobile Credit Card. This is a card that I obtained for my niece 8 years ago and pay when the bill comes in - immediately. Now she is in upstate New York in college and uses this card for gas and food, she works for her tuition. I worry that she will get stuck somewhere without gas and a card that has been declined. If Citibank had the courtesy and professionalism that they claim to have, why didn't they give people ample notice? I am more than willing to get another card but this is a pretty crummy way to handle a situation. Since she also charges her cell phone to the card will she have service to call me. Thanks so much Citibank. I really need this stress. I am immediatelt closing my Savings account, Checking account and moving all investments. I urge everyone to do likewise.

They got me too!

They gave me a automatic credit line increse last week, becuase I was such a great customer they said, no late payments in 8 years doing business and all...

And I'm not a "bad" risk! I have a steady middle class job and do not leverage myself at all with debt - at saving a quarter of my income faithfully since my first emplyment, I'm the most frugal person I know. I only use cards to keep them active for my credit scores (which will go down now!!!)

As others have said, I do frequently pay off my balance.

But it doesn't help to complain to Shell, mine was a Conoco- Phillips 666 - BP Platnum Mastercard. Can you go to the Chicago next week to tell Citi what you think at the Banker's Convention? http://showdowninchicago.org/ In NY? Citi's CEO Vikram S Pandit lives at
1021 Park Ave #10A
New York, NY 10028. Make a say!

• I have called customer service twice now. I travel out of state every other weekend to see my husband who works out of town. On my way back my card was declined. I went into the service station because I thought it was just a problem with their pump. To my surprise and dismay it was declined inside also. I went back out and called customer service to hear exactly what you all also described.... My account was closed due to information found on my Equifax credit report during a routine credit review. I pay for a 24 hour credit monitoring service so I assured the CSR on the other end of the phone line that there was nothing on there that would cause them to close my account. I would have already been notified if there was a problem. After talking to them several minutes and all but screaming at the person on the other end out of total frustration I realized that I wasn't the only one this had happened too and they really didn't know what or why my account had been closed. All they had been told was the line we all got and were trying to do the best with the situation they could. I have (had) two accounts with them that I pay off in full every month. One I purchased about 1000.00-1300.00 a month on and the other anywhere from 3000.00 to 6000.00 a month which were always paid on time and always paid in full. I then tried to explain to them that I have been a customer since 03 and I didn't understand after being a good customer how they could leave me stranded like they have. There is a level of customer service missing in our businesses these days. Lets just assume that they made this decision because they were losing money on people like us (those that earned their discount and paid their account in full every month). They still were very unprofessional and unfair in the way they have treated their loyal, responsible customers. They could have at least sent a notice in a statement giving their customers notice of their business decision and then announced the cancellation date in the statement so that people had time to plan. I did receive my letter finally yesterday 10/22/09 and it stated that they cancelled my credit card because I had too many inquires in the last 12 months. This was nowhere near what they told me on my inital call. Not to mention are you kidding me? Too many inquires? I then called back today because it just angered me again to think about how they treated us. I called demanding that they fix the statement that would go on my credit report and that they also owed me for the rebate I would have received on my statement next month for my purchases this month. They told me that they were told they would not change how it was reported on my credit never mind my excellent history with them, but they would credit my rebate amount. I told them that this would not be the last phone call I made and if they thought that their poor, unprofessional business decision would just go away they were wrong. I was unfair and unjust. I also asked to speak to someone in their company that could fix the way it would be reported and they told me there was no one to talk to. So I asked that my account I noted with the fact that I would continue to pursue this issue until it was corrected. I don't know maybe some sort of class action law suit would get their attention. I was thinking about the impact one bad business decision can make. Not only have they hurt their good and outstanding customers they have also hurt other business owners. Think about how Shell station owners will be affected also. We work hard to have good credit and it is not acceptable to be treated this way!

Just found out the same thing happened to me. And I *work* at a Shell station! Anyone who reads this please note the jerks at citibank are responsible, not anyone at any Shell station.

Same story as the rest of you. If you played by the rules they set up, ie.; paid in full and on time, you are considered a liability. I get it, I don’t like it, but so it goes. They will not see any of the other benefits of having me as a customer again and I would guess Shell Gas will be hurt by this also. But what really upsets me is that I was not given the opportunity to cancel the card myself. At lease that way I could avoid the negative connotation on my credit report that I was a “bad consumer” who had to be cut off. I’d like to at least avoid a potential FICO score hit I don’t deserve. Does anyone know if there is anything, we as a group, can do to avoid the negative credit score fall out our scores will take as a result of the actions taken by CITI?

Six days after paying off more than my card, they sent a letter cancelling my card. So much for customer loyalty of 3 years and never paying late. Customer service was no help, giving out scripted birdbrain answers to pacify me. I guess if I had a million dollars in Citibank, my card would still be active. I'm writing a letter to Citibank's president and sending a copy to Congress. This is a company that got taxpayer bailout money and this is what they do. Anyone with money in a Citibank account should pull it out and go elsewhere.

They must have received a ton of criticism for randomly canceling , because my card was declined(paid on-time, no where near limit) around Oct 20 & is now working again...

Also got a card randomly closed on me, always paid on time... I also received a letter earlier this year that was going to raise my interest rate to some exorbitant amount which I declined. They then said they would keep my account open until my card expired, 10/2011. Then October came :/ I little more warning would have been nice... no more Shell gas for me for a while

God bless the money lenders......

I wish I had read this prior to my online application for a shell credit card. This Citi Bank sucks!!!!!!!!!!!!!!!!!!!!!! No business will be coming from me.

It was obvious that they cancelled our cards because we pay on time to avoid interest rates out of this world.. double catch though... pay late pay high rates..pay on time get cancelled.. someone should open an investigation at the govt level and look at this consumer discrimination.. I am through with citibank

For me, it was the same story. The Shell Master Card was refused when I was purchasing a battery for my car. All payments have been on time and my balance was less than 10% of the limit. When I called Citibank later in the day, it was the same flim-flam conversation. In checking my other cards, I noticed that the Exxon-Mobil card is also Citibank, and so I am waiting for that shoe to drop. The card refusal took place on October 19, and the letter that I eventually received on the 22nd was dated October 15, though the envelope carried no postmark. My bill was dated October 13, and failed to credit the rebates earned. I’m guessing that the decision to close the account was made well before the 13th.

My wife has a credit card with J Jill, which, unfortunately, is issued by Citibank. She always pays in full and on time, so Citi’s action against her may be moot – they raised her interest rate to 25.99%! Loan sharks here in Illinois are blushing.

To complain further I did call Shell at 888-467-4355. The person there emphasized that this assault on customers was all on the part of Citibank, and that Shell was in no way involved. She further stated that they did not even know about these actions in advance. (I wonder if top management at Shell was aware.) For me, the equation is very, very simple: no Shell rebate credit card equals no Shell purchases, and this is the message that I conveyed. I urge others to call, but you must be sure to press 8 when you enter the automated hell. Other numbers will switch you over to Citibank. A person can also send an email complaint to shellcustomercare@shell.com , and I have done that. The president of Shell Oil Company is Marvin E. Odum.

I have yet to fight the earned rebate credits – did someone say class action? What is additionally irritating about Citibank is that they are doing all this while using our taxpayer funded bailout money.

What can we do about this? Here are some ideas:
• Write to your senators and representative, and let them know of your frustration and anger over Citibank’s action, especially while using (your) taxpayer money.
• Advocate that the government raise the interest rate that it is charging Citibank to the same level that Citi is zapping its customers.
• Recommend that the government “call” the loan to Citibank. In other words, maybe Citibank is neither too big nor too arrogant to fail.
• Suggest that perhaps the credit card industry, too, needs to have a “public option”.

This happened to me and my husband. We opened a Shell/Mastercard account in June because it gave us 5% off gas, which was great. Then I went to get gas last week and it came up declined. My husband called them and they told us that Citibank had closed the account because of an adverse Equifax report. We both checked our credit reports, and neither had anything on there that wouldn't have been there when they originally ran our credit to open the card.

I was on a trip in August when my Conoco/Phillips 66/Union 76 card was declined. I was also told that the account was closed because of the adverse Equifax report. I immediately went on line and checked our credit reports only to find out that the only negative report came from Citibank, the result of which was a problem on their end that I had to call and fix when my card was declined back in August. I received a letter dated October 15th stating I had a serious delinquency, a totally fabricated lie. Then, I received an account statement dated October 8th (arrived after the letter???) with a credit balance. When I called this morning regarding all of this I was told there was nothing that could be done. When I questioned their decision they told me they don't look at each and every account, they simply look for possible risk. POSSIBLE RISK? What the hell?!

Epilogue. On November 3 I received a surprise call from a supervisor at Citibank. She stated that my closed account had been selected for review, and they would offer to reinstate it with the same Terms and Conditions that it had previous to the cancellation. She assured me that my unpaid rebates would be credited. I agreed. I do not know which button that I pushed caused this magic to take place. Was it this posting, my complaint to Citibank, or the email letter that I sent to the President of Shell? The supervisor would not shed any further light on this, so it will undoubtedly remain a mystery.

I have a MasterCard issued through Citi Bank. Two months ago I got a notice my limit would be dropped to my current balance and the account would be reviewed in 6 months to determine if the limit would be raised again. Since I never miss a payment, but do keep balances I pay off periodically throughout the year, I did not think much of it. However, 2 month later I get a notice my APR will increase dramatically in November unless I "OPT OUT". If I "OPT OUT" they cancel my credit card immediately, I can pay the balance under the current terms, and I forfeit my rewards points! I am shocked, this is the only card I have had for YEARS and have never had any issues....

Same story here, ecept my card was Exxon/Mobil card but again managed by Citi. I paid my bill every month and on time. when I recieved my letter it said I had lates and an collection action.
When I got my credit report from equifax there was no such thing. Nothing paid as agreed. Face it they don't want our buisness, they prefer those who don't pay so they can charge late fees or charge 29.99% interest. time to let your legislatures know how Citi is running wild. Also the gas companies tell them there more than one gas station you can go to.

Even i have the same problem with my credit card from Citibank. When i used after 3 months of its issue it had a particular limit, after using it i paid it within 30days time, then i got the letter at my postal address for paying the dues.I was shocked, freak again the same story.

I'm interested to know if reducing my 'available credit' by 30% would hurt my credit more than simply defaulting on this card and telling Citi where to shove the 425% rate hike they have just slapped me with. Of course defaulting on one card gives the other two license to rob me blind too so I can't win either way. It's amazing that they are happy to let some people walk away from their debts yet those of us who are still doing the right thing and paying what we owe are socked with the bill.

Defaulting would be far more devasting to your credit score than just having your credit limit reduced. Besides, even if you are upset with the change in terms, you owe the money, right? Saying you won't pay back charges that you made, likely would not want others to lend you money, either, in the future. - ema