Consumer complaint received 2022-12-17
Product: Credit reporting, credit repair services, or other personal consumer reports 
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account information incorrect
Company: CITIBANK, N.A.
State: MI

Complaint:
My name is XXXX XXXX, and I am responding to the request in regard to my credit report. I have contacted Macys to inform them of my financial situation on several attempts during the COVID pandemic XXXX, only to be turned down each time. This is the only account on my credit report that has closed during this time due to the fact that they didnt offer me any assistance. All of my other accounts are in great standings, and I fulfilled all of my agreements with them as I would have if Macys had given me the opportunity. Instead, they denied me help during a world pandemic/shutdown. Lied to me, closing my account without my knowledge or consent. Then continued to illegally charge me interest and fees. 

XX/XX/XXXX - XX/XX/XXXX Called Macys to inform them that my family and I were getting sick, and I had to take time off from work, I had no way to make my payment. 

XX/XX/XXXX Still suffering from Covid and I started losing family members, I was told there wasnt any help. 

XX/XX/XXXX Received letter not that my account was closed, but to update my account information and get my account on the right track. And maybe if I qualify, they can offer a solution for my financial difficulties. 

XX/XX/XXXX Called in and asked for help once again ( I was never informed that my account was closed ). I Explained that I was trying to assist my family with burial. I was told to make partial payment to show good faith, and this would allow me to keep the account open and get COVID assistance. ( Why would I only make a partial payment? This was an agreement Macys offered me to keep my account in good standings ). I made the payment, and they turned around and closed my account anyway. They continued to charge me interest and fees for several months after my account was closed. They lied to me. Closing my account ruined my credit and stopped me from assisting my family with burial. I had no way to bury my family. This was devastating for me. ( Statement included to prove payment and the fraudulent interest and fee charges ). 

XX/XX/XXXX Received denial letter with no valid explanation why? 

XX/XX/XXXX Received another letter asking for more information regarding COVID assistance. When I called it was only for them to collect information for repayment and demand me to pay the balance within 6 months. Most of these companies received pandemic funds to assist account holders like me, what happened to that assistance? Can someone investigate to see if any of these companies ' received funds and hold them accountable for not assisting me? 


XX/XX/XXXX at XXXX - I called XXXX, spoke to XXXX and I found out that my dispute was processed wrong? I called the agency directly to resolve this and the agents themselves processed the disputes. How was it done wrong? Or is this sabotage because of the profitable agreement they have with the companies? Favoring XXXX company and not allowing me to work with another, or just holding me back from opportunity? She even saw the neglect to help in a pandemic crisis and the fraud that I have proven with the extra interest and fees for the months that my account was reported closed XXXX, XXXX, and XXXX. 



Fraudulently Charged I was told to make partial payment to show good faith, and this would allow me to keep the account open and get COVID assistance. They state on my credit report that they closed my account XX/XX/XXXX ( during a time that I really needed my credit for family burial ) and continued to charge me interest for XXXX, XXXX, XXXX. ( Statements provided ). I had no access to my card. 

UNFAIR CREDIT SYSTEM - UNFAIR CREDIT REPORTING The average consumer isnt educated on how the Credit Bureaus generate business with banks and companies for profit. Or that they even make a profit at all? 

The credit bureaus invade your privacy without your knowledge at the age of XXXX. They buy/sell your financial information to companies/institutions also known as data furnishers = banks, credit-card issuers, and loan companies for profit. 

They track your credit score until it reaches an acceptance point ( called prescreens or trigger list ). Allowing them to target low-income families knowing they need help, offering high interest rate products creating deeper debt. 
Wealthy families wont accept these high interest rate offerings, they automatically see failure. Plus, they arent desperate for help, so the bureaus send them the low interest rate card offers with higher credit limits to entice them. 

They track your score by utilizing an unfair mathematical system they call an algorithm. Along with whatever notes the companies/data furnishers want to put in the system to hold you back from doing business with any other companies/lenders or because they feel you owe them money or were late on payments. 

I understand the government utilizing this information for employment and law enforcement agencies. But allowing these companies the same authority and access is clearly proven to be unfair, devastating and a major disadvantage for consumers and families. They are not using or reporting information ethically or accurately. 

These companies get to go to their computer and put in whatever they want, and it affects my future, lifestyle, work, health, etc. But most importantly it affects my credit score. It adjusts automatically/immediately as soon as they press enter. But when you dispute something as a consumer, it doesnt change your score back to what it was previous to what was said by the company. Even if you have proven the company to be wrong, it only comes back as accurate and remains on your credit? This credit scoring system only favors/benefits the companies, not the consumers. 

As a consumer, I have to go through this rigorous process called a credit dispute only to get pushed through an automated system. I am so irrelevant to them that they dont even have a real person to look at what I am forwarding to them. With my dispute, I spent money on several occasions to send in additional information proving discrepancies/inaccuracies/fraud and no one even looked at it. 

I am very concerned about this credit scoring process it is very controversial and is forced on us as consumers. Consumers who are not aware/educated on this credit scoring process feel as if they have no choice but to comply, experiencing neglect, invasion of privacy, and selling their personal information in order to get help/assistance in a time of need. Or to just simply build credit in order to exist in this unfair algorithm world that they have created to line their pockets and are forcing us to live in. 

How is this happening when there is a law that banks are obligated to meet good faith standards regardless of the customers financial situation or credit score. They can't predict what your financial future holds, nor should they be able to hold you back from future opportunities.

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