Consumer complaint received 2021-06-26
Company: CITIBANK, N.A.
State: DE
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Closing your account
Sub-issue: Company closed your account

Complaint:
Citi recently close all my 4 credit card accounts on XX/XX/XXXX without any notices. I contacted Citi on XX/XX/XXXX via chat. The associate on the chat could not find out the exact reason. He directed me to call ( XXXX ) XXXX. I made multiple calls to ( XXXX ) XXXX on XX/XX/XXXX and XX/XX/XXXX. After spending hours over the phone, nothing was resolved. None of the Citi associates could find the exact reason other than telling me that accounts were closed by the bank. Of course, I know the accounts were closed by a bank that was Citi. I was then directed to call XXXX and duly called however the robot voice on the other end of the phone told me that my accounts could not be serviced. I am deeply concerned about the disconnect between Citi 's backend departments who may close accounts with seemingly no reason and the front-end associates who were supposed to help customers with questions on account. 

I am also hugely disheartened by the way Citi mistreated a good loyal customer like me. I have been a loyal Citi customer and used these accounts regularly for purchase. One of the accounts is the oldest account I have had with more than 8 years of history with Citi. I have made all payments to these accounts on time and never ever been delinquent. I just can not fathom what the rationale was for doing such damaging things to a loyal customer in such a hasty manner without even the slightest courtesy of giving an advanced notice or giving the customer a chance to clarify any doubts that might have prompted Citi to close accounts Closing these accounts also causes multiple serious issues to me. First, it will negatively impact my credit score greatly. Citi closing my accounts will likely cause my FICO score to drop and cause me to get a higher mortgage rate. One of the closed accounts is the oldest account I have ever had, more than 8 years of credit history with 100 % on-time payments. Now the credit history is gone for no reason, caused by Citi. I had been planning for refinancing my mortgage to take advantage of the historically low mortgage rate but Citi just threw a wrench into this.

Secondly, I have relied heavily on Citis credit cards to get access to revolving credit. By closing all my accounts, Citi shut me out from over {$50000.00} credit at a time I am still trying to get over the COVID-19 pandemic. It is just unimaginable that Citi who promised to provide customers with the support and solutions to help meet customers banking needs ( check your website declaration! ) just did the opposite to a good customer when the customer needs the help most to get over the pandemic.

Last but not least, Citi robbed me of over {$7000.00} by wiping out all my cashback rewards upon closing the accounts. Over the years I have put most of my spending on the Citi cards because of Citis 2 % cashback reward promise of the double cash card. I have accumulated cashback over the year and there was over {$7000.00} cashback rewards in my closed accounts. These cashback rewards were as good as cash because it could have been used as statement credit to pay off any purchase balance. By closing the accounts and wiping out all the cashback rewards, Citi robbed me of over {$7000.00} while still demanding me to pay off the full purchase balance on the closed accounts. This this a UDAAP issue!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation