So, Archie has a Citibank credit card -- no balance, low interest rate. He got a letter the other day and it stated that "due to inactivity" Citibank was closing the account. So Archie went digging around and realized he hadn't activated the new card when it was sent to him and he called Citibank to try and activate it and stop them from closing the account.
And they said no. They said no to a good customer who pays his bills and would use the card -- he just let it slip past him that a new one had arrived. Citibank has tons of customers who are negotiating paying pennies on the dollar of what they owe, and they are getting rid of a long-standing customer.
Guess what? This is why the financial people are in such trouble. Because they would rather have loads of customers who charge the world and then can't pay it back than people who are responsible credit users. People who use their cards and pay them off every month. People who live below their means and only bust out that card in the case of an emergency.
Sure -- Citibank is not making any money on us. But they're sure as hell not losing any. And, while we work very hard to stay in good financial health, there is always the possibility that we might have an actual need for some credit and might pay a Citibank not only the principal, but any accrued interest. But, no. Not now.
So good for you, Citibank. We have other credit cards, but we won't ever do business with you again.
Oh, and let me say that I love having this stupid problem. Seriously, being able to complain about a dumbass credit card company when it isn't actually costing me money? Priceless.
But Citibank still sucks.