Citi Bankruptcy...do you think it will impact all of us with Citi CCs?

[dukie41181]

My husband and I were talking about starting to look for a new credit card just in case. I'm looking for everyone's thoughts. Does anyone have a credit card that you'd recommend?

[karenj2]

wait, what?!?!? Can you post a link? I have a citibank card (my first, actually) too...

[TwinFoxes]

My husband and I were talking about starting to look for a new credit card just in case. I'm looking for everyone's thoughts. Does anyone have a credit card that you'd recommend?

Citi didn't go bankrupt. CIT did. Is that what you mean? They are separate entities. So breathe easy. :)

Or maybe you mean you think they'll go bankrupt in the future?

[kristenk]

I'm not positive, but I don't think that CIT Group (the company filing bankruptcy) is the same as Citibank/Citigroup (credit card company).

[luvmypeanut]

I can assure you Citi did not file for bankruptcy. My DH works for them. Your credit cards are fine.

CIT group is not the same as Citicorp.

[clc053103]

Nope, they aren't bankrupt. However, I had a very terrible experience with Citi last week I want to share.

My credit card was declined at a local business (yes, embarrassing as can be when I know the sales person). It's not a card I use often either. So I call in- it takes 3 tries because the first time I'm disconnected. The second time the guy I tell my story to disconnects me (and clearly they are having a party in the background with applause and everything). The third time, the guy tells me I was declined because I didn't pay my bill last month- um, I made no purchases and received no bill. He then tells me to pay in full my current month's balance plus a $29 late fee and he will reopen it. I say no, I didn't get a bill- he says I did, I didn't pay it, CITI sent me an email warning me last week (no, they did not I am sure of this) and that I need to pay it all. I had this card since 1995- I've never had a late payment, you will waive this, I never got a bill. HE fights me and says no, I have to pay it now. I ask to speak with a manager- she discovers that I accidentally paid 10 cents less than my September statement- clearly, not a big deal. Since I owed a balance of less than $1 in October, I didn't get a statement to pay. Then, the next month they charged me $29 late fee for the 10 cents I didn't pay, the system never sent me the email it said it did because it was, again, 10 cents, and then they shut down my card.

The manager i spoke with was fantastic and got a good laugh over the 10 cents nightmare, waived all fees and corrected the situation. However, I think the automated blunders I experienced over 10 cents that could end up on my credit rating are not worth ever dealing with this bank.