CitiBank Redux

Last September I wrote about my Citibank business credit card being cancelled due to the number being reported as compromised. Well, it’s happened again. Yesterday both Jeff and I were informed that our card numbers were possibly stolen and that Citi would have to issue new ones. No word yet on my personal card.

While this is slightly inconvenient, what really pisses me off is that Citibank will not reveal the name of the merchant who allowed the security breach. I believe I have a right to know and to possibly avoid using that merchant in the future, but no matter how hard I pressed, the agent I talked to either didn’t know or wouldn’t tell.

It’s almost enough to make me change banks, and I thought it funny that when the agent signed off with “Thanks for using Citi” it came across as “$hitty”.

I do like the fact that Citi was proactive in contacting me and closing the account, but the fact that they are willing to hide the identity of the real culprit bothers me. The merchant should be held accountable. At OpenNMS, when we take credit cards we use a system that does not store the number or any detailed information once the payment is processed. I can honestly tell our customers that their payment information is not stored by us.

So, did anyone else get “the call” and have to replace their credit cards? Is there some information that I’m missing (as a Google search doesn’t turn up anything recent)?


4 thoughts on “CitiBank Redux

  1. It is a *lot* easier to track business expenses with a credit card than with cash. I’m up to six people now and having to deal with all of their separate purchases would be a lot harder without it.

    I never carry a balance and I do redeem my miles (grin).

    For my personal card I always use a “virtual” number when purchasing on-line, which adds some layer of protection.

    I like using credit cards – much more than debit cards. Plus, I find I spend more when I have cash – it does burn a hole in my pocket.

  2. @tomjedrz of course, that article is true, to a point, but is also wrong, at least for me.

    But Dave, I *do* friggin’ pay mine off 100% every month. Just because 60% of people don’t doesn’t mean *I* am one of those people.

    None of the things discussed on that post really has anything to do with credit card numbers getting misused or stolen, which affects debit cards as much as it affects real credit cards (which is what that Dave fella smugly says he uses exclusively).

    Credit cards have their faults, but they can be used properly. In the end, the merchant *should* be held liable for the breach.

  3. I hate credit cards. They are poison. It took me several years to shake loose from them when they got their hands around my neck in college. They cheat .. intentionally posting payments late to generate fees, skipping bills, lying over the phone, etc. I don’t do business with people or entities I can’t trust.

    Do you trust Citibank?

    “It is a *lot* easier to track business expenses with a credit card than with cash. … ”

    I can believe it, to some extent. They can make nice reports.

    Are you aware that each individual is personally responsible in the event that the business is unable to reimburse them or pay the bill? Say, for instance, that OpenNMS goes bankrupt and can’t pay the credit card bill. The employees will be chased by the credit card company for the unpaid balance.

    “Plus, I find I spend more when I have cash – it does burn a hole in my pocket.”

    Then you are not typical .. every study has shown that people spend more using credit or debit cards than with cash. And this does not account for the risk and the costs of the card.

    Take care.

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