Well, like many of you trying to rebuild credit, I find it frustrating and disappointing that while I am trying to repair what I have done, a company with which I had good standing closes my account. That company, Citibank out of Sioux Falls, South Dakota, in its judgment decided, without warning, to stop my progress toward better credit.
In the thoughtful letter they sent, they stated the following reasons why they closed my account. Serious delinquency: my fault. Amount owed to delinquent accounts: my fault again. Ratio of revolving credit balances to credit limits too high: THEIR fault, because they reduced my credit limit from $4400 to $2100 and I have a balance of $1800. That is the ratio, not my fault. Insufficient length of credit history: both our faults. Mine for closing or losing control and having bad credit, and then Citi's fault for closing this account.
How are you to establish a lengthy history if you close the only account that was going to make me regain that history? Either way, I have a bad taste in my mouth. I know I have been awful in the past. I also know that for the last 5 years I have worked my butt off to better myself and my credit.
Today, I will try to reinstate my account through the power of respectful communication. For now, though, I do not trust this bank or the TARP funds they received to stay afloat. I want to believe the system, but right now the system doesn't believe in me.
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