If you received an unrequested Citi MasterCard and don't want it:
- You should close the account using the telephone number provided with the card and follow up in writing. The safest way to close an account is to send a certified letter to:
Citi Customer Service
Des Moines, Iowa 50361
You should receive an account closing confirmation letter in 10 days.
- Cut up or shred the card before throwing it away
- Wait 30-60 days to allow time for the credit reporting agencies to update your records and then check your credit report for free at www.annualcreditreport.com or call 1-877-322-8228. This account could stay on your credit report for 7 years but should be marked as closed.
The effects of this new credit card on your credit score will vary depending on the individual consumer. However, issues you should be aware of are:
- If Citi checked your credit prior to issuing the card, it could look like an application for new credit and will temporarily drop your credit score
- If your new limit is different from the Macy's account limit, your available/utilized credit ratio would change and would affect your credit score either positively or negatively depending on the individual.
- Cancelling the inactive Macy's account and replacing it with a new Citi account could shorten your credit history (if your Macy's account was your oldest account) and lower your credit score.
If you are applying for a loan or mortgage in the near future or are concerned about your credit score you can check it by going to www.myfico.comor calling 1-800-319-4433. Be aware that you must pay a fee (discounts may be available) to obtain your credit score.
To file a complaint call the Office of the Comptroller of the Currency at 1-800-613-6743.