Skip to comments.Citi starts closing Mastercards without warning
Posted on 10/20/2009 6:41:41 PM PDT by John.Galt2012
No law, including the Credit CARD Act that has started to take effect, prevents banks from closing down credit accounts without warning. Credit card issuers all maintain the right...
(Excerpt) Read more at msnbc.msn.com ...
Perhaps you should rethink the “Mrs. POS” moniker......
Well... I knew a house, food and a big TV was in there but, I never imagined all this other free stuff was in there too.
You haven’t lived until you’ve heard someone wonder how the gubmint can pay for their wedding.
Aren’t they giving warning before they shut down the accounts?
Wish I’d known that 15 years ago. Oh well, how about my divorce? Will they spring for that?
Me too, and they ALSO decreased my credit line, which harmed my credit rating!
Chase just gave me another 2500 on my credit line. I have a balance and I pay well over the minimum every month. I travel so I use it in hotels and for food and gas.
I think they are raising rates through the roof on good accounts to beat the new bill limiting such rate raises = so, thanks a lot, government - all you did was hang us out to dry.
I called this week to see about lowering the rate, pointing out that they may have noticed I haven't been using the card since the hike - but they wouldn't budge. They cited the economy as to unstable - yada yada. This is unusual. Card outfits were always amenable to lowering rates with good customers = I have always paid well above minimum payment and always well before due date.
> trying to minimize losses on bad credit card accouns
hmm. Too late. But this is what they all should have done, all along, instead of giving credit to people who could not pay, taking losses on those, then ripping off creditworthy customers.
Yep, they’ve narrowed it down to just that last thing now.
Slimy no good bastards!
As of today, ACCOUNT CLOSED!
Near the end of the article it says Citi had $8 BILLION in consumer credit losses in Q3 including both mortgages and credit cards. And they say that will continue to track the unemployment rate upward (duh!).
We should expect Frank, Dodd, Rangel, Pelosi, Reid, et al to come out soon with a proposed law that will stop them from closing credit cards.
Only the lurking Dummies and Puffington Hosters won’t get it.
“Oh well, how about my divorce? Will they spring for that?”
Perhaps - do you have a “redistribution of spouse” clause anywhere?
Close it. I don’t care.
Last month I purchased a firearm with my Amex card. Now the $600 or so is not in my normal spending pattern. I have no limit, and the balance due was something like $400.
I got a call from Amex stating that I was nearing an amount that would require that they suspend my spending. I told them that was OK, because I wasnt going to use it any more. The one time event was going to be paid as soon as I got the bill.
They wanted me to pay the current $400 AND the $600 that would appear next month.
I told them to screw. The $400 would be paid by the due date, and the other would be paid when I got the bill next week.
I have never been late. I have always paid it in full.
What is this world coming to?
“Citi is just about to go under...”
Oh joy. Guess who holds my mortgage?
As long as the Fed gov’t owns over 1/3 of Citi, it’s not going under. The gov’t will make sure of that.
No, but she does.
Happened to me a couple of months ago. They closed an account I hadn’t used in years. Honestly, I was keeping it open merely as a backup, in case my primary card was lost/stolen. Oh well, I can do that without Citi, good riddance guys.
yes thats a problem. yes Barney isn’t fit to clean pig feces
Hey if broadband internet is a right then a credit card surely is.
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