Consumer complaint received 2021-02-12
Company: CITIBANK, N.A.
State: CA
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:
Hello I am the owner of Grocery store and used business credit card called Costco Citibank.

On XX/XX/XXXX I suddenly got the letter said " We ( Citi Bank ) closed your account '' and I was so stunned to see it bc I have been very good customer who pays the bill on time and my business is running very well. I immediately called customer service line at Citibank, and the associate told me he doesn't know the reason. and I asked what will happened to the rewards ( Costco Rewards value {$3500.00} in business, and {$500.00} in individual ) that I accumulated, and then he said it will be forfeited. I'm so upset to hear that they close my account by force and forfeit my money? And I didn't hear the reason? 

The letter contained the message that " I may request a statement of specific reasons for the action taken to close your account '' So I sent a letter and even faxed the request letter on XX/XX/XXXX. And I haven't heard anything from them at all since. 


After a second thought, I really can't believe that the points are forfeited because the account has closed. And wonder what if the banks takes advantage of this rule to the customers like close the account on their end, not pay the reward? 

So I called Citibank again. The another associate advised me differently than before. 
He said of course I can get the point but Costco Citi Credit card 's points are available to use after XX/XX/XXXX. After XX/XX/XXXX they send out the check so I need to wait until then and the points are ready for you regardless of the closure of the account. That made a lot sense to me cause the situations vary so everybody has the right to gain the rewards as those rewards are based on how much they pay. 

I waited for about 3 months until XX/XX/XXXX. Even though I haven't heard anything Citi bank about the request a statement, I didn't care too much. I would rather move on, burn the bridge with Citi bank, and focus on re-gaining the rewards. That is all I wanted. 


On XX/XX/XXXX, today, I called Citibank, The associate said the rewards were forfeited as the account has closed.I was so stressed out to say again and very furious about the fact that former associate gave me the false information, and I missed the prime time to take care of this matter in a timely manner. I trusted what he said and waited until now to call to request the rewards get available by now. 

I was connected with a supervisor XXXX in Arizona, she confirmed that rewards are forfeited and there is nothing she can do. And she, as a supervisor, does NOT know the reason why the account is closed. ( I enrolled auto pay, so I am never late and pay in full. Really don't know the reason on my end ) I rather asked what can I do for this insane situation? 
My account has closed all of sudden- request the reason - not hear any - was advised to wait until rewards available - turned out rewards can't be available She answered the account closure is not her department choice, but credit card 's choice. 
I asked she can escalate this issue to the department. She said she can't. There is no channel I can talk with them. 

I lost opportunity cost- I could have earned more rewards if I use another bank. 
I could have been happier without all these headache and anger. 

I hope this made sense to CFPB and help me this insane situation to be resolved. 
All I want is getting rewards that I collect. All my business 's spending was made this card under pandemic era. 
I recalled the hard time in stocking the essential goods in my store by going Costco early in the morning, waited in long line. It was tough time indeed, and the result if this hard work is too bitter and insane. Please help. Thank you. 
XXXX XXXX

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