Complaint / Review
Citibank N.A
Citibank Abruptly and Summarily Reduces HELOC Credit Limit Based on Blanket Appraisal

Citi imposed a sudden and unannounced reduction in
the credit limit on my home equity line of credit source account. My original
credit limit was $218,000. The bank summarily and abruptly reduced and froze it
at $128,000. I've never been late on a payment. My Citi credit-account balances
have always trended downward, historically, and I have a high credit score.By
suspending my credit without notice, the bank has deprived me of access to a
line of operating credit that I need to live and perform my freelance job.
Unfortunately, I've been parking all of my extra cash in this account — all
paychecks and other receivables. I made a large payment/deposit of $17,250 to
bring down the balance. This was all of my monthly cash buffer. I used the
account to escrow my own property taxes and to save my quarterly income-tax
payments.