Getting CCs closed by issuer

[HiLine]

In case you are curious, this page gives you the full T&C's of your cards. And yes, you did agree to everything written on the document. 

https://www.citicards.com/cards/acq/cma.do

[longtimelurker]

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@ilovelisa wrote:

Has anyone asked,

How does the OP have 10 accounts with Citi alone?

And what type of cards are they?

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That really isn't hard.   Many people had multiple AA accounts with Citi, and you can multiple accounts of the same type over the years as they convert old cards into newer ones.

[enharu]

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@kaiotes1 wrote:

so if i had a savings account w 100k in it and they close it they can withhold my 100k right..

not gona reply to anything thats off topic anymore

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The problem is, you don't have 100k in your savings, and they are not withholding your imaginary money in your imaginary savings account.

In case you are confused: Saving accounts are accounts maintained by retail financial institutions that pay interest but cannot be used directly as money in the narrow sense of a medium of exchange (for example, by writing a cheque). These accounts let customers set aside a portion of their liquid assets while earning a monetary return. For the bank, money in a savings account may not be callable immediately and in some jurisdictions, does not incur a reserve requirement, freeing up cash from the bank's vault to be lent out with interest. Source: http://en.wikipedia.org/wiki/Savings_account

And your original question have been answered by many people in the first few pages.

Best of luck with your refi.

[HiLine]

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@kaiotes1 wrote:

so if i had a savings account w 100k in it and they close it they can withhold my 100k right..

not gona reply to anything thats off topic anymore

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No they cannot. Here's what the T&C for savings accounts have to say on that:

"We may close your account at any time with or without cause. We may try to notify you in advance should this be necessary, but we are not obliged to do so. If we close your account, we will send you a check for your final balance, if any, minus any applicable account fees and charges."

As found here: https://online.citibank.com/US/JRS/pands/detail.do?ID=CitiSavingsPlus

[09Lexie]

I think this topic has ran it's course.

Good luck in your refi and any other questions regarding refi/ mortgage should be posted in the Mortgage Forum.

[HiLine]

Good luck with your refi! 

[ilovelisa]

I still don't understand how you have 10 cards from 1 issuer.

[enharu]

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@ilovelisa wrote:

I still don't understand how you have 10 cards from 1 issuer.

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He is (or was) a big fan of Citi. 

[HiLine]

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@ilovelisa wrote:

I still don't understand how you have 10 cards from 1 issuer.

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If you could have 10 cards from any 1 issuer, that issuer would be Citi.

[longtimelurker]

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@ilovelisa wrote:

I still don't understand how you have 10 cards from 1 issuer.

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What do you mean?   HOw it is possible?  Why you want to?

As I said, with Citi, the easiest way is/was churning AA cards.   In the past, each card would get a minimum of a 30K AA miles, and often much more.  You applied for 2 at once (the famous 2-browser method) maybe several times, (business and personal) and you could do the same again after a while, without having to cancel the older cards.