Citi

Have spent hours on hold, several different days, just trying too get some on the phone. Now just trying t close the account.

Given the widespread problems with stolen/hacked personal information, unwanted charges, phone scams, and supposedly "free" trials, here's how I pay for my online shopping.

CitiBank issues credit cards [go to: www.citi.com] with an optional feature they call VIRTUAL ACCOUNT NUMBERS. Plus, their website allows cardholders to sign up for account "notifications" to be sent via e-mail or as text messages.

After you login to your CitiBank online account you can create one or more brand new and unique 16-digit credit card account numbers, each with a specified maximum dollar limit (for example $50) and expiration date (for example 2- or 8-months from now). Each Virtual number is good for use by just one merchant.

When an online merchant asks for your credit card information, you simply provide the newly-created Virtual number, its expiration date, and (if requested) the 3-digit CVV/CVC number. When the merchant charges your Virtual Account, CitiBank's online data (and any notifications via e-mail or text message) will show that activity within about 10-seconds. (Fast!)

In my experience, the best parts of all this are:
-- I know immediately when my account is charged, and for how much.
-- If a hacker steals my Virtual Number, my primary credit card information is not at risk.
-- By setting a maximum dollar limit, I can avoid the "surprise" of unwanted recurring charges.
-- I can close my Virtual Account at any time. (Meanwhile, my primary account remains open and ready to issue new Virtual numbers.)

This has been working for me for a couple of years.

Citi is the worst credit-card company ever.

A few months ago, I ordered a product that turned out to be defective. So, I contacted the company that I ordered it from TWICE to let them know that it didn't work. Well, they never responded. As a result, I opened up a dispute with Citi.

Citi gives merchants 45 days to respond, and this merchant responded with a very vague, general response on day 44--and lied about not being contacted by me. Nevertheless, Citi immediately ruled in favor of the merchant!

Shocked, I appealed the verdict, but this time the merchant didn't even bother to respond to what I wrote. And guess what? Citi STILL sided with the merchant! Why? Because I didn't return the defective item on my own dime. Tell me—have you ever heard of a credit-card company that expects the CUSTOMER to pay to return defective items? Until now, I certainly hadn't.

Anyway, I called up Citi and told them what I thought. The woman I talked to was actually pretty nice, and said that the merchant was being extremely difficult and "didn't want to accept" a chargeback. HUH? Who actually controls the purse strings—Citi or the merchant? But at least she said that she would issue me a "goodwill credit" because I'd been a customer for so long.

While I appreciated the credit that the agent gave me, Citi should've never sided with the dishonest merchant in the dispute. Sadly, it seems that Citi's policy is: "The merchant is always right!" It didn't seem to matter what evidence I brought to the table—Citi basically just ignored it.

After paying off my final balance, I canceled my Citi card for good and haven't looked back. Please learn from my story and stay FAR away from this joke of a credit-card company.