Credit card or prepaid card -- Closing your account -- Complaint #7383457
Complaint Overview
Complaint ID: 7383457
Company: Citibank, N.A.
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
State: Arizona
ZIP Code: 85142
Date Received: 2023-08-10T12:00:00-05:00
Date Sent to Company: 2023-08-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
This complaint is in regard to XXXX credit card accounts but I believe began with the inappropriate actions of my Citi credit card account. I have worked very diligently to build and maintain my credit in an effort to purchase my first home for my wife and myself. I was successful in obtaining a mortgage and did indeed purchase my new home. I applied and was approved for a Citi credit card which I used for making purchases to furnish my new home. I never went above my spending limit nor was I ever late with making timely payments on this or any of my credit accounts. I also have XXXX XXXX XXXX credit card accounts which I also used for this purpose. My income and budget were always kept in mind when making any purchase, and I never extended myself to put my budget or capacity to repay in jeopardy at any time. I received a letter from Citi that stated that they had reviewed my account as well as other revolving accounts and had decided that I had too many balances at or near the credit limit. They were, therefore, closing my account from any further use but I was to continue payment of the balance remaining. Shortly afterward, I received similar notice of account closure from the XXXX XXXX XXXX credit cards. This was devastating to my credit risk scores on all XXXX bureaus because closing the accounts displayed a high usage of credit card usage with no available percentage of credit. The age of my oldest credit account also affected my scores as well as my ability to obtain new credit which has left me unable to refinance my mortgage rate when/if the rates come down. Credit scores are supposed to evaluate a person 's risk of repayment based on their historical demonstration of an ability to repay in a timely manner. The actions of Citi, as well as XXXX XXXX, did not take into consideration my income or my history of repayment when making this arbitrary decision. I will note that I was never contacted by either of these institutions to make a large payment toward the balances to prevent this untimely closure. I also believe it is quite unfair to give a person a line of credit while at the same time not anticipating that party to utilize it. Please assist me in righting this wrong caused by these institutions. With Kind Regards, XXXX XXXX
Frequently Asked Questions
What is Complaint #7383457 about?
Complaint #7383457 was filed against Citibank, N.A. regarding Credit card or prepaid card specifically about Closing your account. It was received by the CFPB on 2023-08-10T12:00:00-05:00.
How did Citibank, N.A. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card or prepaid card) and describe your issue in detail.
Can I see other complaints against Citibank, N.A.?
Yes, visit the Citibank, N.A. company profile at readthecomplaint.com/company/citibank-n-a to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.