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Citi closed all my credit cards :(((

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Citi closed all my credit cards :(((

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

 

Document_Page_1.jpg

 

Checked ExxonMobil and Best Buy: gone as well.




FICO 8 (7/24/19) EX: 682, EQ: 701, TU: 700

FICO 8 (10/14/19) EX: 710, EQ: 711, TU: 709
Message 1 of 43
42 REPLIES 42
New Contributor

Got Bushwhacked by City today: Happy Hump Day

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

 

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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).




FICO 8 (7/24/19) EX: 682, EQ: 701, TU: 700

FICO 8 (10/14/19) EX: 710, EQ: 711, TU: 709
Message 2 of 43
Established Contributor

Re: Citi closed all my credit cards :(((


@MacRoadie wrote:

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

 

Document_Page_1.jpg

 

Checked ExxonMobil and Best Buy: gone as well.


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








Shell FCU : 5K, Alliant CU Loan : $35000
Message 3 of 43
Senior Contributor

Re: Citi closed all my credit cards :(((

Yikes!

 

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

American Express: Platinum Charge, Optima, Business Gold
Barclays: Arrival+ WEMC
Capital One: Savor WMC, Venture VS
Chase: Freedom U VS, CSR VI
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity VS
Credit Union: Rewards Visa
FICO 08: (1.1.20) EX: 827 / EQ: 838 / TU: 833
Message 4 of 43
Valued Contributor

Re: Citi closed all my credit cards :(((

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.
Amex PRG (NPSL), Amex Blue Cash ($24K), Amex Simply Cash+ ($4K), Discover ($22.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($10K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($7.8K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($10K)
Message 5 of 43
Established Contributor

Re: Citi closed all my credit cards :(((

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.

Message 6 of 43
Valued Contributor

Re: Citi closed all my credit cards :(((

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

TU fico08=824 12/29/19
EX fico08=819 01/14/20
EQ fico08=830 01/04/20
EX fico09=827 01/04/20
EQ fico bankcard08=846 12/24/19
Message 7 of 43
Moderator

Re: Citi closed all my credit cards :(((

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.
"If there's a lack of money in your life, understand that feeling worried, envious, jealous, disappointed, discouraged, doubtful or fearful about money can never bring more money to you, because those feelings come from a lack of gratitude for the money you have."

"Reactions are powerful creators because they contain every element needed to manifest—they're a combination of thought, belief, and feeling in action. Positive reactions create more positive things, and negative reactions create more negative things. If you can respond to negative situations calmly and lightly, instead of with emotional turbulence, what happens next in your life will be so much better."

- Rhonda Byrne

Message 8 of 43
Super Contributor

Re: Citi closed all my credit cards :(((

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.
Message 9 of 43
Valued Contributor

Re: Citi closed all my credit cards :(((

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.
Message 10 of 43
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