Consumer has PRISM/CBSD on her

At least it wasn't fraud, but just because it may not be illegal doesn't mean its unethical to open an additional account without explicit authorization. I'm making it my weekend project to find out what banks my other store cards are, and if its citibank, i'm cancelling it

Hi All,

Thanks to the last 2 postings for the information. I found out too that my PRISM/CBSD card was my old Macy's card being converted to a Mastercard.

Thank goodness -- worried it was fraud.

Thanks for the helpful hint.

))

I got both the citibank and prism alerts and I don't recall ever receiving a card. citibank told me they had no account in my name so I was really concerned. This should be illegal. It took all day on the telephone and I purchased the other two credit services to see if this was on my report. I never learne a thing until I found this site. Boycott Macy's

Thanks to the person who posted the 866 number. I just called it to cancel the two credit cards. I didn't want to give them my SS# to find the accounts, but I had to in order to cancel them. I hope this is the end of this problem.

Hi all,
I recently received a credit alert for this too, and during about 3 hours of calls, I did websearches on PRISM/ citibank and came across this blog - what a relief to know what the deal is! Awesome, and thanks so much for the info. Would have been nice for Macy's to send out notification prior to doing this, huh? Cancelling an account can have negative repercussions on one's credit, so this is no small matter.

I received a "new account" notification today (I pay for credit monitoring) from PRISM/CBSD. Called 866 510 2761 and it was explained that I "qualified" to have my inactive Macy's account converted to a Citibank MC. I explained I did not request any new credit account.

They claimed they sent an "opt out" letter to me in July and because I failed to opt out they were authorized to covert and open the new Citibank card account. They said the failure to opt out was essentially my authorizing the new account and, hence, the new credit listing.

They closed the account but adamantly refused to help in removing the new account (and subsequent closed account) listing from my credit report. They said they cannot remove the account from my credit report, because I did not opt out. Not sure how I could have opted out if I didn't receive the opt out letter, and asked how I could remove the credit report listing because I had not received the opt out communication. Again they claimed I authorized the new account when I failed to opt out and therefore it would stay on my credit report for 7 years.

They claimed they had the right to convert when I signed the Macy's application. However, it seems logical that the conversion would look more like an account change, not a whole new account listing on my credit report - new creditor name, credit limit increase of about 1,000%, new account open date of 9/17/07 verses the original Macy's account date of about ten years ago. Nothing in the credit listing references or is connected to my Macy's account. I wanted the new account (and closure) reference removed because it affect my credit score!!!

I feel this is grossly unfair. I did not request nor authorize this "new account". I did not receive the opt out communication, but they seemed to think I was lying. I am attentive to my mail and very active in monitoring my credit (FICO was 798 last month, and I have copies of about 3 credit reports per year for many years).

I feel it is shady to claim that failure to opt out is equivalent to my authorization. They said I could file a charge of fraud through the credit reporting agency, but the account would NOT be removed. In other words, my grievance would be overruled regardless of my requests and claims that I did not authorize this new account. INFURIATING!

I cant believe how a company can legally open a closed account and issue a ceditcard with a 6k limit! what kind of @#$% is this?

i just cancelled my account as well,..showed up on equifax as a new account. Citibank stated they bought all the old Macys accounts and are reopening them,..converting them to MASTERCARDS! WHAT if this card gets sent to an incorrect address? what a way to rip off the consumer and a way to line the banks pockets! DISGUSTING.....THIS IS INVASION OF PRIVACY AND SHOWRT OF STEALING PEOPLES MONEY!

I'm in the same boat with everyone else here. I was checking my FICO score and I was wondering how it had dropped points from the past month when in all actuality it should have been alot higher and I saw as one of the negative factors behind this was because I had just opended up a new Credit Card with an 8,000 credit limit 9/2007. This totally blew my mind. I found that it was that stupid CITIBANK SD, NA.CCSMC PRISM. I called Citibank to see if they had any answers about this and gave them my SSN and nothing came up. So I'm googling all these different ways to see what this is all about and I came across this Blog... THANK GOD. It definitley saved me time as far as looking for a # to get to the bottom of this.

So as I called to cancel this card the lady I was speaking to kind of copes an attitude with me as I tell her that I think this was wrong and my credit has now been effected by this and that I think we all should've been notified. She told me that an Opt-Out Letter went out which I never recieved. She also said that cards have already been mailed out. So she asks me if I want a letter sent to me Confirming the closing of my account and I told her yes. As I'm verifying my info with her, they dont even have my address right!!! SO NO WONDER I DIDNT GET THIS "OPT_OUT" letter they supposedly sent. And to make matters worth. If my card was one of the ones that got sent out, Well I guess someones got $8,000 they can spend on me.

I really think theres gotta be a way that we can fight this. I'm looking to buy a new car next month and if this in any way effects me, I'm going to be pissed!

It seems that Citi bank has just aquired macy's credit card division and is upgrading Macy's cards to Macys-Master Card. You can call 866 510 2761 and request them to close the account

I would also like to thank you for the 866 number. It's a relief to know that there is someone I can now contact about this!

I also got the same thing, call them and tell them its a Macy's card. I closed the Macy's account, since they changed the Marshall Field's name I have no love for them.

Closing the account is not enough!!! This has negatively affected my credit score! I did not receive any opt out notice, no new card, no communications of any kind. NOTHING! Just a new account with a $7K limit reference on my credit report (which reduced my FICO score).

I am pissed that Citi can claim to send me something, and because I never responded to something I did not receive they equate this to authorization to open a new account AND mail a card to an old address (which puts me at risk of ID theft) AND then adamantly REFUSE to cooperate in removing the new account listing from my credit report.

This should be illegal.

I would like to thank you for posting the information about PRISM/CBSD. I received a an alert from Experian a credit monitoring service that a new account has been opened in my name. The only contact you receive is an address in Hagerstown MD. After calling all over the place I found that Citibank has taken over Macy's accounts for credit cards and if you didn't reply to the request sent out in July of this year you are being issued a new Citibank Master card without your permission. Call Citibank at 866 510 2761

I received the same Citibank card (I hadn't used my Macy's acct for over a year). I called and cancelled it and the customer service was nice enough to explain that it was connected with Macy's. Apparently Citibank bought up the unused Macy's accts. Subsequently saw the mysterious Prism/CBSD on my credit report and am happy to learn that this has happened to everybody else, too.

I definitley agree with Rach17382. This too has lowered my FICO score. And this whole "OPT-OUT" letter is BS. If anything. If that letter is really legit, they should have made it that whoever wanted a new credit line to be open with Citi should have sent back or responded to the letter not.... IF YOU DONT RESPOND OR SEND BACK THE LETTER IT AUTOMATICALLY signs you up. I'm still pissed about this.