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Citibank (Souuth Dakota,). N.A. Complaint - Complaint - Sears Credit Card.
Sears Credit Card. - Complaint
I have been an account holder with Sears & Roebuck for 15+ years. I carried no balance on my credit line, never made a late payment. Recently went to Sears to purchase a freezer, and found out that my Sears Card had been cancelled. I received no notification and drove over 120 miles to a Sears store in West Virginia to make this purchase. I did not know why my account had been closed, but tried to re-open it and was declined by Citibank (South Dakota).
I want to express my dissatisfaction for the poor customer service I have received from being a loyal customer for 15+ years. I was informed I need to make a couple of small purchases a year to keep my account status open by a Sears employee. I shouldn't have to make a purchase just to keep my account open as I've been a customer for a very long time and have spent a lot of my money at this company throughout the years.
I think the actions by Citibank are unfair and unjust. I want others to know that this is happening and be aware. I will no longer be a customer of Sears & Roebuck.
I want to express my dissatisfaction for the poor customer service I have received from being a loyal customer for 15+ years. I was informed I need to make a couple of small purchases a year to keep my account status open by a Sears employee. I shouldn't have to make a purchase just to keep my account open as I've been a customer for a very long time and have spent a lot of my money at this company throughout the years.
I think the actions by Citibank are unfair and unjust. I want others to know that this is happening and be aware. I will no longer be a customer of Sears & Roebuck.
Comments:
Posted by tnchuck100 on 2010-12-23:
Wake up and smell the coffee. Today's financial world has changed dramatically. How good a loyal customer you thought you were means nothing to them. "Loyal" is an archaic term and means nothing in business today.
Good review. Others need to be aware a seldom used account may no longer be available.
Good review. Others need to be aware a seldom used account may no longer be available.
Posted by Zeigs on 2010-12-23:
Posted by ript on 2010-12-23:
tnchuck, "loyal" means nothing in most sectors of society today.
Posted by trmn8r on 2010-12-23:
You believe Citibank acted in an unjust and unfair manner, but you will penalize Sears by no longer shopping there. Seems like you may be penalizing the wrong party.
What happened to you is by no means confined to Citi. Many banks are doing this. There are multiple reasons. It costs money to maitain the records for your account, but more importantly banks are reducing risk due to the economy. Removing (inactive) credit lines from their books helps do that.
What happened to you is by no means confined to Citi. Many banks are doing this. There are multiple reasons. It costs money to maitain the records for your account, but more importantly banks are reducing risk due to the economy. Removing (inactive) credit lines from their books helps do that.
Posted by momsey on 2010-12-23:
The problem with talking about "loyalty" is that customers very rarely reward businesses for their loyalty. This review is a perfect example. Even though the OP was a very happy Sears customer for at least 15 years, she will turn her back on them because of the actions of the bank who handles their credit accounts.
So where's Sears' reward for their loyalty?
So where's Sears' reward for their loyalty?
Posted by werelucky on 2010-12-23:
You may of been a loyal customer but obviously you were not a frequent customer. How long ago was your last purchase with the card? If you don't use your credit card banks are within their rights to cancel it.
Posted by leet60 on 2010-12-23:
trmn8r +10. It indeed costs money to keep your account open, especially if you are not using it.
Consider a merchant keeping 10,000 $250.00 credit line accounts open ($250,000). If it costs them $2.50 to maintain the account it is coming off their bottom line.
I also have to comment, that if Citibank declined to reopen the account, it likely has to do with your credit profile. If you have too high a debt to income ratio, to much revolving debt or negative entries this is a common reason for a creditor to close your account on review, despite your years as a customer.
Consider a merchant keeping 10,000 $250.00 credit line accounts open ($250,000). If it costs them $2.50 to maintain the account it is coming off their bottom line.
I also have to comment, that if Citibank declined to reopen the account, it likely has to do with your credit profile. If you have too high a debt to income ratio, to much revolving debt or negative entries this is a common reason for a creditor to close your account on review, despite your years as a customer.
Posted by getoverit on 2010-12-23:
I'm inclined to agree with trmn8r and werelucky. A lot of companies don't just keep an account open indefinately when you're not making any purchases.
By the same token, they should have notified you that the account was cancelled.
I've had a couple of Citibank credit cards. They're seem pretty hard-nosed. They don't cut you any slack.
By the same token, they should have notified you that the account was cancelled.
I've had a couple of Citibank credit cards. They're seem pretty hard-nosed. They don't cut you any slack.
Posted by Fufu487 on 2010-12-26:
BANKS do this is general....my regular mastercard will go inactive if not used in 8 months. And how loyal of a customer could you have been if it had been that long since you used your card?
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