Consumer complaint received 2024-01-01
Product: Credit card — General-purpose credit card or charge card
Issue: Trouble using your card — Credit card company won't increase or decrease your credit limit
Company: CITIBANK, N.A. (OH)

I am writing this letter to formally express my profound distress and lodge a complaint against the actions taken by your institution, which have caused and perpetuated severe damage to my financial standing and mental well-being. This complaint is also directed towards the associated entities, including XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I have always paid on time, over the minimum payment and many times the complete balance. I believe the erroneous information by XXXX provided Citibank and outlet to target me as a non-asset as I have always met my commitments and was not a significant source of income for Citi as a result. 

In XX/XX/2023, an erroneous report of a XXXX late payment was placed on my credit file by XXXX XXXX. Despite my immediate and repeated efforts to rectify this misinformation, your institutions responded by drastically reducing my available credit, closing my accounts, and denying further credit extensions based on this false reporting. These precipitous actions were not only premature but lacked a fair and thorough investigation into the validity of the claims against my credit. 

As a result of your actions, I have suffered an immediate and irrecoverable impact on my creditworthiness. My FICO scores experienced a substantial average drop of over XXXX points, shifting my credit standing from good to poor. This single incident has erased years of diligent financial management and will require a prolonged period to recuperate fully. The enduring impact on my creditworthiness is a long-term hindrance that will affect my financial decisions and opportunities for years to come. 

Moreover, the continuous cycle of credit limit reductions and account closures, particularly in the aftermath of resolving the erroneous report, has trapped me in a state of financial and emotional despair. Attempts to manage my situation, whether by paying off a card or reducing the balance, have been met with immediate closure or further credit limit reductions, maintaining an unsustainable level of over 95 % utilization. 

This situation has not only damaged my financial health but has also taken a significant toll on my mental health and the stability of my family. The inability to access equity in my home due to lingering negative marks on certain reports, inaccessible to me as a consumer, has further exacerbated my distress. My FICO mortgage score has plummeted into the XXXX, a testament to the severe and ongoing repercussions of this issue. 

I implore your institution to undertake a thorough review of the actions taken in response to the erroneous information provided by XXXX XXXX. It is imperative that your institution recognizes the gravity of its actions and the profound impact they have had on an individual 's life. I seek a fair and immediate resolution, which includes a full restoration of my credit limits, removal of any unjust negative remarks, and compensation for the financial and emotional damages incurred. 

Your prompt attention to this matter is not only expected but necessary to begin rectifying the immense wrong that has been done. I trust that you will approach this complaint with the seriousness it warrants and respond accordingly with a plan for resolution.