Citigroup feels the need to tell their shooting sports industry customers how to run their businesses.

I did the only 'sensible' thing and closed a newly opened account.

My research on this company was inadequate before I decided to do business with them.

I'll be more careful in the future.

What did Citigroup do to cause you to drop them?

https://www.nytimes.com/2018/03/22/business/citigroup-gun-control-policy.html

Citigroup is setting restrictions on the sale of firearms by its business customers, making it the first Wall Street bank to take a stance in the divisive nationwide gun control debate.

The new policy, announced Thursday, prohibits the sale of firearms to customers who have not passed a background check or who are younger than 21. It also bars the sale of bump stocks and high-capacity magazines. It would apply to clients who offer credit cards backed by Citigroup or borrow money, use banking services or raise capital through the company.

Mmm, my gold Master card is from Citicards and it is also my AA Advantage card which gets a lot of $$ use.
It may be time for a change.

They were once a client of mine, but since I sold that business,,,

i closed my citi-corp acct in 1988.

citicorp is in the very competitive bidness of lending money to make money...as such, they and their competition monitor social trends, looking for opportunities to increase market share...apparently, a marketing decision has been made by citicorp to appear to embrace the current promotion for more gun control...it is a calculated risk, that gambles loss of a certain segment of the market, in order to gain a larger overall market share...

Maybe, they're enjoying their stronger bottom line over the last year and combining that with their appreciation of how data mining is steering the country in one direction to socialize with like minded folks at extravagant corporate entertainment events?

Don't over think this.

They're just assholes.

I'd cancel in a minute if I had their card. This kinda knee-jerk judgement is not anyone I'd want to bank with. I checked as soon as I heard of the policy change.
I don't own nor want an AR but as long as they treat me like I do, I'll respond in like manner.

+1 Shotgunjones... best observation yet.

If I'm reading this, and Argo44's link correctly, Citibank is attempting to control its' business customers who sell firearms.

Since all gun buyers who buy firearms from FFL's are already required to pass a NICS Background Check, that requirement is meaningless. And since all parties seem willing to simply allow the ATF to ban the sale of bump stocks, that part is likely meaningless as well.

That leaves Citi's decision to try to prevent firearms retailers from selling long guns to adults under the age of 21... something some retailers such as Wal Mart are already planning to do. I have mixed emotions about that one. I know it is wrong on so many levels. But I also know that large numbers of young adults seem to be quite willing to give up their Constitutional Rights and allow themselves to be discriminated against because of their age. Part of me wants to try to save them from their own foolishness, but another part of me wants to let them hang themselves.

I think it is time we started talking about raising the age to drive a car, which would save hundreds of times as many lives. That might get their attention. And maybe it is time to talk about raising the age to vote since so many young people seem willing to give up our Constitutional Rights based upon emotion rather than reason.

Rule 1: Don't talk politics on a good technical site:
Rule 2: If you do, try this. 18 for driving, drinking, smoking, joining the military, voting; 16 for age of consent. (Pretty much is that anyway).

Well, since you violated Rule # 1, I'd like to point out that you forgot about the attempts to screw young adult U.S. citizens out of their right to purchase a firearm for hunting or self-defense. Some of those attempts are coming from young adults who are acting on pure emotion.

And I'd like to remind you that it is only because of pro-gun politics that we even have the right to own, use, and even discuss the technical aspects of our guns. You may not care for politics here, but ownership of guns and preservation of the 2nd Amendment are inseparable. And it is politicians who work to either preserve out gun rights... or take them away.

Or maybe you feel the time for discussion is not until the anti-gunners succeed in banning them???

Bingo!

I cut my Citibank card up about a month ago.

I have a Citi card and thank the OP for bringing this too my attention. Instead of cancelling my card though I will put it into the safe and never use it again. I have found out that just cancelling a credit card affects you credit rating negatively(not that I care). I will let them continue to keep me on the books. Let them continue to send me paperwork. Continue to spend whatever pennies they do to keep track of my acct. while the card sits unused forever.

What ???

Do you have proof that canceling a credit card, that has had an excellent payment record for it's life, negatively impacts your credit rating? I'd like to see that if you do. What are you supposed to do to get rid of it ............... just die?

SRH

After having numerous attempts by folks overseas to use my Bass Pro whatever card, I canceled it. Every other week someone would try to use the card number and I'd get a call from Chase to verify the purchase. They wouldn't tell me results of the investigation, but it didn't affect my rating when I canceled it. Never had issues with other cards, including another one with Chase. Gil

I've made something of a study of the mysteries of the FICO ratings.

There are multiple formulae that the 3 credit reporting agencies use.

In general, closing an established account DOES negatively affect a FICO rating simply because it reduces available credit. This can increase credit usage factor. It also reduces average length of credit history.

I followed the 'let it lie' strategy when I became disenchanted with Capital One years ago. Their 'no hassle' card morphed into a 'big hassle' card with a usury interest rate. I'm glad I kept it because it eventually morphed again into the 'quicksilver' card that pays me back a few hundred dollars a year. It's an old established account that adds credit history to my rating.

That said, I used the old 'open account, get discount' trick at Gander Mountain almost 10 years ago. The bank was Commenity Bank that serves several like retailers. I closed that after 14 months and it's STILL on my credit report as a positive factor.

So, these account histories can remain for a long time.

I'm not going to do business with people who wish to erode my civil rights. Others will fill whatever void is left by Citi, competition is what makes the world go round.

Kredit Karma . Spells out the details that affect your rating.
Shotgunjones, has spelled out basically exactly what they state.

My Citi card is through COSTCO. It replaced an AMEX card they had been using for years. I'm quite unhappy with Citi and would dearly like to tell them why I cut up their card, but I am also a regular COSTCO shopper. I will need to figure out how to replace their preferred card before I dispose of it.

Me too Lloyd3.

Post your results here please when you figure it out.

Since AMEX blew the Costco deal, Costco has been in bed with Citi and only accepts Visa cards.

I've been pleased with the Chase Freedom Visa. You will only get 1% at Costco, but the rotating categories may make some of that up for you.

I play the credit card rewards game heavily, and it takes 5 cards to cover everything to the maximum annual benefit. It's worth the time to me and my annual net is enough to pay dues at 4 gun clubs.

I don't have Costco here, and even if I did their association with Citi would drive me off. Sams Club or Walmart would fill that gap, being the lesser of the two evils.

These gun controlling bastards want an economic war, they shall have it.

Chase Freedom Visa huh? Chase is the bank that ate all the other banks, so I view them with some mild concern (& they can't seem to keep steady employees at my branch). But...their online services are first rate and they haven't (as of yet) gone political. I'll vote with my feet the minute they do.

Credit cards are clearly necessary anymore (try travelling w/o one) but....they can become a flaming pain in the arse. I only keep a bare minimum of two (for lots of reasons, security being the big one). An AMEX for business and a Visa/Mastercard variant for personal are more than sufficient. My wife gets suckered in to some retail versions occasionally for the perceived savings, but I see them as adding only minimal value for the added security risk.

I buy my gas a Costco too and their Visa makes that convenient as well. Blast Citibank for being a bunch nefarious commie twits!

I hear you.

If I could only have one, it would be the Capital One with 1.5% kickback on everything but that's a Master and no good for Costco.

Security is a minimal concern. In fact, the very reason I don't have any debit cards is the good fraud protection supplied by the credit card companies. They don't have your money yet, so there's no need to try to get it back like with a debit card.

They all have notification of use by e-mail or text if you prefer, and your limit is $50. They have detected fraud for me 3 times. In each case my liability was zero.

The worst risk is if their site gets hacked but consider that even without any internet participation at all by the customer, banks still have all your personal information online just waiting to be compromised. There is no hiding from this.

I always thought I would resist a cash free society, but since they pay me to use the cards I gladly do so. I'm such a whore.

I'm kind of in the same boat, we shop at Costco a lot, and with that card this last go round they sent us almost $500.00 that filled our freezer with meat.

TM