Goodbye Citibank!!!!

September 7, 2010 at 11:40 am (credit cards)

I did the dead! I finally closed my odious Citibank credit card last week!!!!!!! I had a minimum 0.50 charge on my account. I guess I wasn’t careful and didn’t fully pay off my balance, leaving a few cents on it, and they have a minimum charge if the percentage is under a certain amount (it was). I called to ask about it, wondering if this was part of the “spend at least xxx dollars or you will be charged a fee” concept I’ve been hearing about.

Luckily it wasn’t, but it still gave me an excuse to talk to customer service. I asked about my account closure, if that was still going to happen due to my previous opt-out of a rate hike (when I started my debt-free journey) and she said that it was. She also offered to close it for me right then, and I said what hey, let’s do it! So my account is officially closed!

I’m still vaguely surprised that they offered to close it. Maybe their customer service agents are tasked with reining in credit as much as possible. Still, it seems so strange that they’d volunteer to close my account so early (I had about 10 months left on it).

I just checked my credit karma account to see the impact on my credit score, but it doesn’t seem to have been reported yet. I will definitely see a big impact I think – I’ve had this card for 18 yrs 8 months (!) and the rest of them are all 3 years and younger. It also has a huge credit limit, $16,500, so my credit utilization will increase quite a bit too, and in a very bad way. Oh well, can’t do much about that.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: