topic Re: Citi Account closed ? (plz help) in Rebuilding Your Credit

Citi Account closed ? (plz help)

IonZephyr — Thu, 18 Feb 2016 19:47:34 GMT

Hello everyone!

I have had a Citibank account (DC card) which was only opened since July 2015... I was never late on the card, but i found out yester-morning that the account was closed (turns out i had two payments get returned, which i ended up paying later thru a different payment acct/method).

Due to the returned payments, they decided to close the account..

My question here is, I was planning to pay the remaining balance on this account tommorow in full... Since I was never late on the account and i seemingly was building a good (but short) credit history on this account, do I need to look for a Pay for deletion on this account? is there any need since the payments were always on time? should i just have this account stay on my history even though its closed?

just want to see if theres any need for PFD here. any input?

Re: Citi Account closed ? (plz help)

Anonymous — Thu, 18 Feb 2016 19:50:13 GMT

Did the payments that were returned end up causing a late status?

Re: Citi Account closed ? (plz help)

Anonymous — Thu, 18 Feb 2016 19:53:06 GMT

If the payment was returned that is considered late. Only thing you can do is call and beg them. You can't do PFD with original creditors. You can only explain your situation and hope they will do a goodwill adjustment. Look for those letters.

Re: Citi Account closed ? (plz help)

IonZephyr — Thu, 18 Feb 2016 19:53:41 GMT

nope. always on the time for the past 7 months i had the card. very bummed it was closed

(thanks for the quick reply)

Re: Citi Account closed ? (plz help)

IonZephyr — Thu, 18 Feb 2016 19:56:55 GMT

thanks Archange1,

thats a fact i overlooked (that i cant do PFD with citi. lol, im guessing thats only for collection agencies and whatnot?)

im guessing i will just pay the remaining balance tommorow and leave the account as-is on my report (closed)

Re: Citi Account closed ? (plz help)

Anonymous — Thu, 18 Feb 2016 19:59:12 GMT

Give them a call, ask to reconsider. You never know, and stand to lose nothing by asking.

Re: Citi Account closed ? (plz help)

IonZephyr — Thu, 18 Feb 2016 20:23:51 GMT

thx for the suggestion, SFinger, but i did try that yesterday. representative said they couldn't reinstate the account & to feel free to apply for a new Citi card -_-

EDIT: just called again and same result . shucks

Re: Citi Account closed ? (plz help)

RobertEG — Thu, 18 Feb 2016 20:28:46 GMT

Not all late payments on accounts are reportable to the CRAs as lates.

If your payment is past the due date, it is late under your account agreement, but does not become reportable as a 30-late until it remains unpaid for 30 days past the billing due date.

While it is asserted that you were never late, how is the creditor handling it?

Apparently, they have considered you to be in default under the account agreement.

Have they also reported 30-lates to the CRA? If so, when did you finally make good on the payment?

As for the closed status, that is immaterial to delinquency status. Closed simply means you can no longer accrue more debt on the account.

You can, however, continue to accrue derogs.

As for a PFD, you can offer a PFD to a credtior or a debt collector.

However, in your case, the OC can still report monthly delinquencies, so a PFD offer does not have much meaning.

You must pay or they can continue to escalate delquency, or eventually do a CO or refer for collection.

Re: Citi Account closed ? (plz help)

IonZephyr — Thu, 18 Feb 2016 20:29:48 GMT

clean as a whistle. no 30 day lates whatsoever.

even before i sent those couple of "returned payments", i already fulfilled the minimum payment ammount at that point of time

Re: Citi Account closed ? (plz help)

IonZephyr — Thu, 18 Feb 2016 20:40:15 GMT

thx for all the prompt replies ^_^ much appreciated (ill just pay it off tommorow and be done with it)

Re: Citi Account closed ? (plz help)

Anonymous — Thu, 18 Feb 2016 20:58:13 GMT

Just make the payment and write a goodwill letter to make sure they do not report you as 30days late. Only reason to be worried is if they reported it as late, if not, the account will be on your file as an account in good standing for 10 years. Helpful if you ask me <3

Re: Citi Account closed ? (plz help)

settleordelete — Thu, 18 Feb 2016 23:05:28 GMT

Try the Citi Simplicity card. 0% for the first 12 to 18 months with no late fees.