Citibank has recently sent a letter to their Exxon Mobil Mastercard customers stating that they will discontinue this credit card program. Instead of switching customers to a different credit card product they are closing the customer accounts. In addition, Citibanks interest rates have more than doubled since the US financial crisis began.
Calls to Citibank result in refusal to switch customers to a different Citibank credit card and refusal to adjust interest rates. Citibanks solution is to have customers go to their website and apply for a new credit card and then hopefully use a balance transfer check to move any balances.
Why should ~20 year Citibank customers, that pay their bill on time, and with good credit, be forced to apply to Citibank when they already have an account in good standing? Customers will be taking a hit on their credit reports for Citibank closing the account and then would have to take a separate hit for applying for a new card. The US government bailed out Citigroup. Why? It is obvious from Citigroup's actions that they don't care about their customers.
Tell Citigroup to offer the opportunity for customers to move their Exxon Mobil Mastercards to a different programs and offer reduced interest rates!
