I was unemployed at the end of 2018. Despite being unemployed for a year, I never missed a payment. After becoming employed again, I started to pay 3x the minimum in order to reduce debt. My credit was impacted due to issues with other creditors, however, I continued to pay for Citi. In April 2019, Citi decided to lower my credit limit to only a couple of hundred of dollars of what I owed. I called and they said as long as I paid on time they could increase my limit after a couple of months. I continued to pay and once I made some headway, they decreased my limit again in Aug. 2019, less than four months from the first one.
I have been diligently working to improve my credit score, as I want to refinance my house and my car lease expires in 2019. However, my credit card utilization continue to increase because of Citi’s action. It is damaging my score, ruining my purchasing power and also creating emotional distress.
It is obvious that the company is trying to drive me out and close my account despite my good payment history. I did complain to the Consumer Financial Protection Bureau, but they are only stating the same thing as they are stating in the letters I received.
What would you like the company to do to fix the problem? (optional)
I want my credit limit increase to its original amount, at the very least, as well my interest rate lowered. If not, I will ask for compensation due to the increased fees caused by the negative impact created by higher credit card utilization.