Citi sends unrequested credit cards

[nhboy]

"Citi (C), the nation's largest bank, is issuing 3.5 million credit cards to department store customers who didn't request them — a step that consumer groups say raises privacy concerns and could expose consumers to identity theft.

This month, Citi is sending general-purpose MasterCards to Macy's (M) customers with credit card accounts that have been inactive for two to four years. Citi bought those credit card accounts last year."
LINK

 

[Patch Tuesday]

"Citi (C), the nation's largest bank, is issuing 3.5 million credit cards to department store customers who didn't request them — a step that consumer groups say raises privacy concerns and could expose consumers to identity theft.

This month, Citi is sending general-purpose MasterCards to Macy's (M) customers with credit card accounts that have been inactive for two to four years. Citi bought those credit card accounts last year."
LINK

Sign of the times. As the housing ATM has run dry, the credit card companies are stepping in to fill the void.