I went to my local Taco Bell to buy some food and paid with my Shell Citibank Mastercard, which I have had for years, to have it declined! I have never missed a payment, always paid in full, and have never had any problems with them or that card.
When I called Citibank customer service, all they had to say was that my Equifax report had something on it that prompted them to close it.
So lo and behold, I ordered a copy and reviewed it. There is absolutely nothing that is negative in my report so I decided to call back again and this time they said that hundreds of thousands of accounts were closed this morning and that I will be receiving a detailed letter soon as to why.
Has this happened to anybody else?
Message edited by: ymehuuh on 2009-10-14 20:17:50 CDT
To enter a coupon code in your post please enter the following info:
Coupon Code:
Coupon Offer:
Merchant:
Expires (optional):
Restrictions (optional):
saving...
Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.
I think the time to boycott credit cards is just around the corner. If stores would man up and give a 3% cash discount or the reward program would die (like should happen in Feb 2010) then people may start flocking to cash again.
tante said:I think the time to boycott credit cards is just around the corner. If stores would man up and give a 3% cash discount or the reward program would die (like should happen in Feb 2010) then people may start flocking to cash again. One problem is, stores incur a cost to handle large amounts of cash. I dont know what that is but suspect it is not insignificant compared to the 3% discount.
uutxs said:tante said:I think the time to boycott credit cards is just around the corner. If stores would man up and give a 3% cash discount or the reward program would die (like should happen in Feb 2010) then people may start flocking to cash again. One problem is, stores incur a cost to handle large amounts of cash. I dont know what that is but suspect it is not insignificant compared to the 3% discount.
Especially at places like Taco Bell - I imagine it would be very easy to readily steal $0.50 per transaction and make good money over the course of a shift.
I think the problem with cash is that it's just too messy. A friend of mine works at Fry's and he could get fired easily just by not being able to balance the cash on his assigned tray. It also elicits theft and crime, in my opinion, both by a broke employee and those hoodlums who get free money by pointing a gun in your face.
I have two other Citibank cards and customer service said they were fine, but of course no guarantees.
Btw...I like to pay with credit card on all purchases because there's a record of all my transactions to see how I am spending my money, regardless of the amount.
The same thing just happened to me today as well. I tried my Citi Shell Mastercard at 2 places today and they both declined my card. I called customer service and they told me that they were sending out a letter that had something to do with Equifax. I am very pissed by this because I use my card regularly and pay it off every month. I tried calling back later to find out more info and they said their system was down. So I have a suspicion that something is going on at Citi with closing out people's accounts.
tonedef99 said:http://www.consumerloanwire.com/news/210324-shell-mastercard-cash-back-rewards-decreasing I call BS. From the article: Citi and Shell announced that the co-branded Shell MasterCard will be dramatically reducing Cash Back rewards on fuel purchases from three percent to one percent. The card is no longer being issued and Shell hopes to transition to a customer loyalty program rather than credit card rewards programs. 1. Just where did they announce it? Can't find the announcement anywhere. 2. The Cash Back on Shell gas was 5%, not 3%. 3. It's still being offered here (easily findable from www.shell.com), complete with 5% gas/1% elsewhere Cash Back. Click through to the application, and there will be a link to T&C from Citi, which also states the same rebate program.
Hope I'm right.
Message edited by: olegos on 2009-10-14 22:46:26 CDT
Mine is still good for 5%. They just tried to charge me a membership fee, because I didn't make 9 purchases in a year (I was off by seven days). They waived the fee. Maybe I am lucky that I have been using it lately.
Add one more account that went dead this morning. I will give them a call tomorrow morning to find out what is going on but if this is true then a little damn courtesy would have been nice.
I have Home Depot Mastercard issued by Citibank. Citibank has decided to close The Home Depot Credit card program effective Oct 31, 2009. I received a letter from Citibank two months ago explaining that it was the business decision to close the program, which it had nothing to do with one's credit score or history. Citibank also said in the letter that the rewards will be honored until Feb 2010.
uutxs said:tante said:I think the time to boycott credit cards is just around the corner. If stores would man up and give a 3% cash discount or the reward program would die (like should happen in Feb 2010) then people may start flocking to cash again. One problem is, stores incur a cost to handle large amounts of cash. I dont know what that is but suspect it is not insignificant compared to the 3% discount.
they also pay a fee to CC companies to be able to accept CCs as payment per transaction
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com.
