Citi closed all my credit cards :(((

[MacRoadie]

Same thing happened to me today: woke up to an email from Home Depot:

Checked ExxonMobil and Best Buy: gone as well.

[MacRoadie]

Woke up this morning to this wonderful email in my inbox:

ExxonMobil and Best Buy are gone too. I'd read about this happening to others, now I've experienced it first-hand. $1,200 balance on HD with a $6,000 CL (appliances), $125.00 on the Mobil card ($1,000 CL), and zero balance on Best Buy ($3,500 CL).

[sghosh5]

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@MacRoadie wrote:

Same thing happened to me today: woke up to an email from Home Depot:

Checked ExxonMobil and Best Buy: gone as well.

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Yes now you will be in their internal database blocked for long long time. All my citi accounts were closed though i have very good credit and i got approved for other cards, CLIs but not citi. I tried once after getting closed and the letter said their internal system does not allow me more credit ... smh...anyway i have better cards and don't give a **bleep** about Citi

[sjt]

Yikes!

How many of your open accounts have balances and what is your utilization?

[ChargedUp]

How quickly did you amass the cards that you have? Did your scores take a dip recently or did you miss a payment with them?
This is the first I've heard of Citi doing this over just the amount of cards that one has open.

[rbentley]

I think we are seeing all CC lenders contracting and tightening their UW.  Citi just removed most of the rewards (price rewind) from all their cards, and now closing accounts that were in good standing.  PenFed just this month slashed by 50% the maximum CL on its cards.  Navy has apparently tightened its "internal lending limit."  AmEx is doing CLDs.  Discover had changed its CLI policies.

I am glad my rebuild is largely done.  We are in for a period of credit tightening.  Fasten your seatbelts and put your trays in the upright position.  It may be a bumpy ride.

[sarge12]

I wonder if Citi is adopting the chase 5/24 policy....I actually had 2 snail mail notices of changing terms on both my Chase Amazon Prime, and my Citi double cash. The weird thing is both were for the same basic thing. They have added a flexible loan option to the cards that will allow the card holder to basically set up some of the cards CL to be used like an installment loan. I will not ever use it on either card, but I find it strange that the same option came for both cards on the same day. Has Chase bought Citi, or vice versa? Surely I would have heard about a major bank merger like that. I mean really, the lowest interest was the Citi at 15.24%...they have lost their minds if they think I am going to do a 15.24% installment loan....#justsayno...#bankerbumpedhishead

[gdale6]

Another reason I detest Citi, these are finance accounts and these kinds are typically not included in such shut downs. I will never own anything from Citibank again.

[kdm31091]

Credit is definitely tightening up across many lenders. While this is an unfortunate story it serves as a reminder to everyone to be careful with credit seeking, utilization, etc, etc.

[Anonymous]

We all knew this was coming. As churning and "gaming" the system has become widely adopted and discussed on the internet, credit lenders must be extra cautious from both losing money from SUBs and from people that will default on their balances.