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Scott McMahan
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Citi Deserves To Fail
THURSDAY, NOVEMBER 20, 2008
Posted by: Scott McMahan | more..
1,150+ views
Citi deserves to fail. They do not need to be bailed out. I would be happy if Citi ceased to exist as a bank. I was an AT+T Universal Card holder since the card came out in 1993. Somehow, Citi bought this card from them and I found myself what I never wanted to be: A Citi customer.

Citi started sending the statement later and later and later. The statement would close on a certain day of the month, but the statement would not be mailed until a week later. Then a week and a half. Then two weeks. By the time I got the statement, I barely had enough time to get the payment to them. If I had not stopped using the card, I guess they would have eventually mailed the payment after the due date?

Calling them produced little results. They offered to change the due date, but that was not the problem. They wanted unlimited access to my bank account to take the money out electronically, but I am certainly not going to do that. Eventually, after a written letter explaining the problem, someone "rebooted" the whole thing so I got the statement sooner, but by then I was happy to leave them behind.

I got another credit card, which is working out much better. My mortgage holder gave me one. This, ironically, hurt my credit score because I took out an additional line of credit. Surely, any consumer smart enough to leave Citi deserves a better credit score?

So if the name "Citi" and its business practices goes away forever, I won't cry. Let them fail.

Category:  Miscellaneous

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