PRISM/CBSD: what does it mean on my credit report?

Thank you all for providing the phone number. I had the same issue where a new account was opened without my permission in Sep 2007 in PRISM/CBSD /// CITIBANK USA, NA/CCSMC-SPEC account. Found out by calling the 18665102761 number that both of the above accounts are one and the same. It is a citibank - MACYs account. Found out that they had automatically upgraded my CC account!. Apparently they claimed to have sent a letter stating the upgrade of an account that was long closed!. The letter supposedly claimed that my account would be automatically upgraded unless I declined the offer!!!. I was able to call upand cancel the new account... Thank you

A horrible scam to ruin your credit!!!!!!!!!!!!!!!! They should be arrested and convicted for this fraud!!!!!!!!

Same story here. I just pulled my creditreport 20 minutes ago, reading through it and wondered when and with whom I opened an account with in september...thx to this forum I know its because of my Macy's Card.

Glad I googled this bullshit. I am fighting mad. And thanks to all you people for posting responses. Saved me alot of wasted time & frustration. I am in the same situation. First, a letter comes happily explaining my "new account" which I never opened & second, the Equifax alert. GRRRRRRRR....I'd like to ring some necks over at Macy's & Citibank. Total bullshit shady business practices. If in fact, my old Macy's account was transferred over...that damn letter I got should've stated that same fact.

I'll be on the phone in the a.m. chewing out some ****. I hope I get it resolved because I WILL NOT be providing any ss # info to these idiots.

****Adult term removed - Jason

So, is there anything we can do about this or did we sign some kind of fine print allowing macy's to sell our account when we applied for it?
Btw, why do some of u dont wanna give out ur SS# number to cancel the account?

Thanks all for the information - this just happened to me as well (old Macy's account). I called the number and all they needed was my (old) phone number. Can't believe they get away with this BS!! Hopefully, this is the last of it...

PRISM/CBSD means that a credit card you have been using has been transferred to CitiBank Mastercard or CitiCorp. What Citibank does is notify you through the mail of this transfer, and if you don't call them to indicate you do do not want their card, you automatically receive their Mastercard card in the mail.

Yes, it is a scam. Unfortunately, CitiBank is counting on you to NOT READ your junk mail carefully.

Here's what it says on your Experian report:

New Account xx/xx/07
PRISM/CBSD
PO BOX 6003
HAGERSTOWN MD, 217476003
Banking; New Bank/Credit

I did not receive the card CitiBank claimed they sent me. I called 1-800-950-5118 to cancel the card, to check to make sure the balance was still at zero, and to report the card as lost or stolen.

Does this BS negatively affect your credit score?

It dropped my score 10 points.

Same thing happened to me. I just closed the new card but I'm willing to join in with anybody that wants to investigate the legal aspects of all of this.

I mean, where does it stop. We're told that a credit card with a zero balance makes our credit score look better, but if we don't use the card, some other entity can work with the card issuer and we end up with a new credit card. I'm really irritated about this and I'm sure there has to be some action we can take.

Thanks to whoever posted that phone number. I saw the activity on my credit report and it was indeed CitiBank. The guy told me the card had not been activated yet. I told him my Macy's account had been closed for years and that I never authorized this new card. He closed the account- which is funny since he tried to explain I never really opened it! Regardless, this is a total scam and I'm calling BBB right now!

Just had the ccsnc spectrum/cbsd show up on my monitoring service also. Class action anyone? We can fight back

I too received a statement from TU about a new account, but I had also received this Citi card beforehand. On the Citi card letter, they have a toll-free cancel number which connects to an automated message and allows you to cancel; so they must know they are doing something shady...

I received a credit Alert email from PrivacyGuard that a new account was opened in my name. The account was CCSMC SPECTRUM/CBSD. I called 866-510-2761 and pressed # to bypass having to enter 16-digit account number. Customer Service rep told me Citibank has "taken over" Macy's accounts not used for last 2 to 4 years AND CONVERTED them to MasterCards. Amazing they are allowed to do this. I was able to cancel it over the phone.

Contact information:

U.S. Attorney General's Office
U.S. Department of Justice
950 Pennsylvania Avenue, NW
Washington, DC 20530-0001
AskDOJ(at)usdoj.gov.

Citibank: 866-510-2761

Macy's: 1-800-289-6229

Google consumeraffairs.com and Macy's to get a good website with more information on fighting back.

Just got a call from a card holder asking this very same question..did a google search and got the answer...thanx