Citi Takes Action on Dormant Credit Card Accounts as Losses Surge
Friday, 12 July 2024, 16:39
Citi's Strategic Decision
In a proactive effort to address escalating financial losses, Citi has opted to close dormant credit card accounts.
Reason Behind the Move
The bank aims to minimize risks associated with maintaining underutilized accounts that contribute to rising losses.
Impact on Operations
This decision aligns with Citi's strategy to streamline operations and strengthen its credit portfolio by focusing on active accounts.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.