Citibank closing credit card accounts

If you are a Citibank credit card holder and find that your credit card is now closed, don't take it too hard. There are basic reasons why a credit card company will close on an account. Some of these basic card card reasons are delinquent account, change in financial status, change in credit reports, change in income, and change in FICO scores.

You may not fall under one of these reasons and may in fact have been loyal, never been late, and have a solid job, income, and assets. Then the other reason is your bank is simply struggling.

MSNBC:

NEW YORK - Shannon Burdette tried to pay with her Shell Mastercard after filling up her gas tank this weekend but found the card rejected.

Confused, she called the customer service line on the back of the card, issued by Citibank, and was told the account was closed because of something that appeared on her credit report. But when the Sykesville, Md., resident got a copy of her credit report online, the only negative thing she saw was "closed at credit grantor's request" on the Shell MasterCard account.

"They said there was a routine review," said Burdette, who maintained that she and her husband, Brian, used the card regularly and always paid the bill on time.

Burdette isn't alone. People across the country have been reporting similar experiences in postings on various consumer Web sites.

Citi confirmed the basics. The bank said in a statement it "decided to close a limited number of oil partner co-branded MasterCard accounts." That includes not only Shell, but Citgo, ExxonMobil and Phillips 66-Conoco cards