(Ditto “Total Collapse Coliseum” … actually, that’s even funnier!)

Citibank
c/o Customer Service Center
P.O. Box 6218
Sioux Falls, South Dakota 57117-6218

RE: ACCT **************************

I write this letter to exercise my right to Opt Out to the Change In Terms. I want to Opt Out.

As a customer of Citibank for more than four years I felt that you needed to know how upset I am with this new change in terms. Your decision communicates to me that you no longer wish to do business with me. This account is used to stock the shelves of a retail store which I own. I have been very thankful for the generous line of credit and predictable fixed interest rate on this account. It is largely due to this account and the accommodation of a large cash advance from it last year that has allowed me to successfully begin and grow a new retail business.
To announce a significant rate increase and change in terms on the verge of the holiday shopping season is bad business. Look at what a goldmine my small account has been for Citibank. I use my credit line to purchase retail inventory. Guess what happens to that inventory? It is purchased by customers swiping Citibank cards through my cash register. I understand that things don’t look great for Citibank right now and you’re scrambling to keep it all together. This appears to be a knee-jerk reaction from Citibank. If my customers are affected by these changes, as I anticipate they are, they will be less likely to use their cards and more likely to file bankruptcy. As this ripples through the economy, and the Prime Rate comes back up to a typical level, I wouldn’t be surprised to see retailers such as myself cease to accept credit payment at all.
In a time when the economy desperately needs people to keep spending money, you have just made it the official policy of Citibank to discourage spending.
Regards,

Brian D. McClerren
Owner
Media Cocktail
Lopez Village, WA

If companies aren’t forced to pay a price for receiving bailouts, there’ll be no end to it.