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strive4credit

Citizens Bank trickery!

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My credit has no negatives...............until now!

 

I sign up for a checking account at Citizens Bank. I accidently overdrafted the account which triggered a line of credit. I was unaware and everytime they called about the overdraft they never mentioned the line of credit. So now I have a thirty day late on my report. I went to the branch, the manager acted powerless and said I would have to dispute it with the bureaus before they could do anything. He was under the impression that after the dispute that the bureaus would contact their offices, analyze my reason for the dispute, and a decision would be made. Really!? Should I really believe that some bankers really don't know about the real way bureaus contact original creditors?

 

Anyway my plan is to send the dispute with a reason I have never used "misinformed about the account"......I know....weak right? Send a copy to the big wigs along with a goodwill letter and see what happens.

 

Anybody have any contacts for me or any suggestions or critiques?

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Always dispute first as "not mine".  You can always give different reasons for the dispute later.  

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I sent an email bomb to the big wigs and I just got a call back. He sounded like he would be able to help me but we will see. I hope he don't give the whole "we can't make adjustments....blah blah blah!" Here's a copy of the letter I sent.....It must have got to somebody important:

 

I have had the honor and pleasure of having accounts with Citizens bank. I appreciate how good your service has been. I have the utmost respect for Citibank as a financial institution and an American company. I have even written letters of praise on behalf of the people at my local branch.

I recently had to close one checking account and start a new account. I was under the impression it was the same type of account. Also based on my consistent patronage at that particular branch I just assumed that the account would be set up based on my needs and history with the bank.  However, the account that was set up had a feature in which an overdraft triggered a line of credit. I was unaware that was a feature of the account. As a result of this oversight, the occurrance was reported to the credit bureaus as a 30 day late.

Maintaining a good reputation with financial institutions is critical. In addition, maintaining that good reputation with Citibank is extremely important to me. My credit is excellent with no negative entries however your recent entry has severely affected my credit score and this one late notation is causing me great stress.

I am writing this letter to respectfully request your consideration in making an adjustment based on the circumstances that caused this single late payment. I am fully aware of the policies on accurate reporting. However it is up to the discretion of the company to make any adjustments and the credit bureaus advised me that they will report anything they are instructed. Therefore, a company does have legal discretion and permission to remove any account it chooses from the credit report. I'm hoping that Citibank will do that in my case for this account. I would be eternally appreciative if you would send a request to the credit bureaus to adjust this entry.

I plead that you may help me and take into consideration how good of a customer I have been and will continue to be. I own a few properties and I have a pending refinance. With the cash back I was looking forward to establishing a money market account and re-establishing an investment account with Citizens. Also my scores would then be good enough for me obtain another mortgage preferably from Citizens bank. Please contact me if there are any details needed. Thank you in advance.

 

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UPDATE!!!!

 

Just came from the branch to pay on this line of credit triggered by an overdraft (a feature I did not request) and the manager was like "That email you sent caused a little problem. How did you get those email addresses antway?". So I told him that if this situation cant be resolved, the next letter is going to really cause a problem. As a matter of fact does the CFPB exist? 

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