Consumer complaint received 2022-01-22
Company: CITIBANK, N.A.
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Incorrect information on your report
Sub-issue: Information is missing that should be on the report

Complaint:
Case # XXXX provides the original details on this matter. Citi 's response dated XX/XX/XXXX states that it confirmed that my account was converted from a CitiBusiness account to a personal account on XX/XX/XXXX and that at the time of conversion the account " did not update to report to the credit reporting agencies. '' I have spoken to the Citi Executive Response Team multiple times since XX/XX/XXXX and they initially maintained that the change from a business card to a personal card is what caused this problem ; however, they neither acknowledge any error on their part nor provide any reasonable explanation as to why my $ 24,000+ credit limit, my excellent payment history, or my open account have not been reported. 

I have maintained and insisted on my calls with Citi Executive Response Team ( ERT ) that I've never had a Citi Business card. Last week, I asked the representative from Citi to send me copies of my old Business Card statements, and she agreed to do so. Today I received a call from the Citi ERT member stating that she reviewed my old statements and concluded that I was right -- I've never had a Citi Business Card statement and that there seems to be an unexplained reason that back in XXXX Citi changed my card from a Personal Platinum Card to a Business Card, for just a few days, then back to a Personal ThankYou Rewards Card. I contend that this change was an administrative or computer error on the part of Citi, and had nothing to do with me, as I've never had a business credit card with Citi. 

Citi 's XX/XX/XXXX response was that they would report the past 12 months of credit history to the credit bureaus, but that they could not go back further than that. Clearly they can, as they were able to find my statements from XXXX, proving that they were in error in not reporting to the credit bureaus. 

Interest rates have increased dramatically from the time I first spoke to my lender ( XXXX percent XXXX fixed ) to now ( XXXX percent XXXX fixed ). The fact that my lenders have not been able to generate a credit score for me with any of the three credit bureaus has cost me dearly. I started applying for a {$1.00} XXXX loan to build my home on XX/XX/XXXX, which is when I first learned that I had no credit report. I still have not been able able to secure a loan, despite having significant assets ( cash, stocks, real estate ), simply because the lenders have no flexibility in processing a loan application if there is no credit score. My intent was to lock in a 2.5 percent fixed rate in XXXX and I'm now just hoping to get my score back ( my previous scores from earlier reports have ranged from XXXX to over XXXX ) in the next XXXX days. With rates continuing to climb, I suspect I'll be looking at a 4.5 percent rate or higher. 

The interest on a 2.5 and 4.5 percent fixed rate mortgage on a {$1.00} XXXX loan is {$500000.00} and {$980000.00}, respectively. In other words, my lenders ' inability to get a credit score for me, as a result of Citi 's errors, is likely going to cost me {$480000.00} over the life of the loan -- that is assuming I can finally get this fixed and secure a loan before rates continue to increase.

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