Consumer complaint received 2020-06-25
Company: CITIBANK, N.A.
State: VA
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:
In early XX/XX/2020, I received a letter from Best Buy Credit Services ( Citibank ) stating that as a result of a recent review of my account my Best Buy Visa credit card will not be renewed. After a credit dispute regarding an inaccurate report of delinquency was resolved on XXXX XXXX 2020, I wrote Best Buy Credit Services Citibank on XXXX XXXX 2020 to advise them that they had used a credit report that included an error to review my account. I let them know that the error had been corrected and sent them evidence of the error and the correction and I requested that they review their initial decision using a correct credit report. 

My Best Buy Credit card expired on XXXX XXXX 2020, and I was notified of its non-renewal on XX/XX/XXXX. Given the fact that when a credit card is renewed it is mailed in advance of the renewal date, the decision to not renew my card must have been made over a week before the expiration date of XXXX XXXX 2020 and over a week before the notification date of XXXX XXXX 2020. However, this information was concealed from me. In fact, my XXXX  credit report shows that an account review credit pull was made by Best Buy / CNBA on XXXX XXXX 2020 using a credit score of XXXX ( after the reporting error was corrected my score increased to XXXX ). Had I been advised of the review of the credit report that contained inaccurate information, I would have been able to appeal and ask for review prior to them closing my account. Best Buy / CNBA clearly has the ability to make communications available immediately to consumers via electronic communications.

For Best Buy / CNBA to elect to conceal the decision for 10 days, especially when they make other communications immediately available by electronic means, is in bad faith and unfair and abusive to the consumer as it prevents them from making appeals if erroneous information was used to make the decision. 

It is also unfair and abusive to the consumer to refuse to re-evaluate a credit decision when presented with information that proves their decision was based on inaccurate information such as a lower score caused by inaccurate credit reporting. 

Over a month after I sent my letter, on XXXX XXXX 2020 at approximately XXXX, I received a call from Citi executive services. I spoke to the representative and he explained that there was no way for them to review the account decision. He acknowledged that he had received the information showing that the credit report that they reviewed had an error. He told me that there was no way that they could re-evaluate that decision using correct information. He advised me that the best that he could offer was that I re-apply for the card. I let him know that would damage my credit and would unlikely result in a new account being issued because of the current pandemic credit situation, and he did not disagree with me. 

The representative told me that I would be receiving a letter. I asked specifically that the letter include in writing Citibanks representation that they were unable or unwilling to review the initial XX/XX/XXXX decision using an accurate credit report. The representative initially told me that the letter would state that the decision was based on credit reporting information. I told him that would not be sufficient and that it needed to state that they would not or could not review the initial decision using a corrected credit report. He told me that he would include that in the letter. 

The letter I received does not include that information. Nowhere in their letter does it acknowledge their receipt of information supporting that the credit information used was or could likely have been inaccurate. Nowhere in the letter does it state that even with that knowledge they are either unable or unwilling to review their XX/XX/XXXX decision using correct information. 

During my phone conversation on XX/XX/XXXX I advised the representative that I wanted the representation in writing so that I could forward it to their corporate business partner Best Buy as I believe that their actions are harming Best Buys business reputation. I wanted Best Buy to be aware of the consumer experience with their lending partner. The requested information was either intentionally omitted so that I would not be able to send such a letter or it was omitted in error. 

I request a review of the credit decision to not renew my card using a credit report that does not include incorrect information using usual review standards for a card renewal, not standards for new account application. 

I request a letter that includes the information that was promised to be included in the XX/XX/XXXX letter.

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