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Citi Bank has recently decided to screw over long term loyal customers by closing down their credit lines or drastically reducing them due to so called "blemishes" on their credit reports. Even better is that they are giving little or no warning.
Does it matter if you pay your Citi bills in a timely manner? No. Does it matter if you have financed thousands and thousands of dollars through Citi in the past and paid them thousands in interest? No.
Basically you will get a recorded voicemail saying that you should call Citi with a specific pin number to avoid charges when using your Master Card. Then when you call the number provided, another machine (not human being of course because they don't actually care about human beings) will tell you that due to something they found in you credit history, your limit has been dropped to your current balance therefore leaving you with a "maxed out" Citi card which further hurts your credit score.
Is there a specific demographic being targeted? It doesn't appear that way. From wealthy lawyers and doctors to working class families, all are getting smacked in the face for being loyal to Citi over the years.
One disturbing reason they are cutting credit lines is that "customers don't have enough debt with them". AKA they are not making enough money in the form of interest from your account. This is not only unfair but immoral. People have been on cruises and been denied their vacations for this. People have been turned down at grocery stores and publicly embarrassed from Citi's actions. Some people have even had to ask strangers for gas money when arriving at the gas station on an empty tank only to find out that their credit card has been denied.
Hey Citi thanks a lot for nothing! We hope you tank!