doublegunshop.com - home Forums General Discussion DoubleGun BBS @ doublegunshop.com Citi account closed

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.