Consumer complaint received 2020-05-26
Company: CITIBANK, N.A.
State: NY
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Getting a credit card
Sub-issue: Application denied

Complaint:
On or about XX/XX/XXXX, I received a letter informing me that my Citibank XXXX XXXX Mastercard account which I had maintained for the last 32 years was closed due to one or more late or returned payments within the past 6 months. Upon calling to bring my account current, I was informed that I can request a review to reopen the account and to keep all cash-rewards points Ive accumulated while having an active Citibank XXXX XXXX Mastercard. During the phone call, I provided all information required for this review. On XX/XX/XXXX, Ive received a letter from the bank with very little detail, stating that the bank was unable to reopen this account. Additionally, on XXXX XXXX XXXX  I received communication that all previously earned cash rewards were forfeited due to the account being closed. I had multiple conversations between these dates with Citibanks customer service supervisors to reopen the account and to reclaim my points, or just to reclaim my legally earned cashpoints. They can only make the request to the credit cards group and have that department make a determination. Apparently, there are no other individuals at Citibanks credit card business that I can interface with regarding my credit application. 

To summarize, in the middle of a national pandemic where almost 40 million Americans are jobless and 100 thousand deaths, Citibank, after a 32-year relationship, abruptly closed my only personal credit card and therefore forfeiting all earned cash rewards which is estimated to be {$2700.00}. In addition, Citibank unreasonable refused to review or reopen an account for a long-term customer who has an exceptional FICO score of over 800, and who has never missed a single payment prior to this technical error from their own system. 

It is my belief that during this pandemic and shut-down, many companies are short-staffed. Companies do not have the same manpower to fairly and accurately complete a thorough review. Simply rubber-stamping decline as per the companys policy does not accurately reflect the Heartfelt Thanks Memo sent by XXXX XXXX Citibank XXXX XXXX XXXX XXXX XXXX, XX/XX/XXXX where he discussed understanding, flexibility, assistance, support as top priority and obligation. Regardless, during these unprecedented and challenging times, having my account reopened and reclaiming my cash rewards is vital for my family and for me as it is my only personal credit card. 

In this complaint, it is clear that Citibank has acted very unfairly to a consumer. At a minimum, customers who earned cash rewards or points through the use of credit cards should still be legally entitled to them for a stated period of time after the account has been closed either per customers request or by the institution. For a major US financial institution to unilaterally close a customers account for whatever reason then revoke all rewards earned without notice during a health crisis and soon-to-be a financial crisis is just unconscionable. I hope that this complaint against Citibank falls within the mission of the CFPB. I would like to thank the agency ahead of time and hope for a resolution shortly. 


Thank you.

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