Citibank's credit card division went and lost a bunch of customer data so theyve had to reissue peoples cards. This sort of thing seems to happen (not only with Citi) with startling regularity, and its about time there were penalties and tougher rules for this.
Here's the note Citi send me today:
Things like this are pain enough for anyone, but for people on vacation the automatic cut off date of 6th October doesnt give people a lot of time to get back from vacation and stop their primary payment mechanism from being suspended.
The real irony was that when I called to activate the new card they had the gall to try to sell me fraud protection! If you didnt lose my information I wouldnt need the protection, but thanks for the offer.
Its ok, Citi is either going to get broken up via government or shareholder intervention soon enough. Having some more competition in the market will lead to higher standards.Although given last weeks mergers this may take some foreign banks to come in and precipitate the changes
sigh... more banking fail...
- Reply by Philip James, Sep 27, 2008.
Sorry - pic taken with my iphone... I'm not much of a David Bailey...