Surprise! Your Citibank Credit Card Is Closed.

As the banks and credit card companies continue to struggle with higher defaults, they are adopting a strategy of closing out credit card accounts preemptively. The idea is if you are not extended any credit then you can not default. You would question how will they make money then. They will continue to make money with revenues of customers already committed to making payments on existing balances. They will continue to ask for taxpayer money through government bailouts. Then they will l