Citigroup's "Hail Mary Pass":

How To Know Citigroup Is In Serious Trouble

Citigroup is in serious trouble. It's easy to tell by what they are doing.
Inquiring minds note that Citi Abruptly Shutting Down Gas-Linked Credit Cards.Citi (C) is abruptly shutting down credit cards linked to gas station partners.
The bank is offering few details:
The bank said in a statement it "decided to close a limited number of oil partner co-branded MasterCard accounts." That includes not only Shell, but Citgo, ExxonMobil and Phillips 66-Conoco cards.
The close date was Wednesday, and letters were sent out Monday to customers informing them of the change, a Citi spokesman said. The bank would not say how many cards were shut down or how much available credit they represented.
In a followup article the Business Insider notes ....
Citi Jacks Credit Card Rates To 29.99% On Unsuspecting Customers.Yesterday, we reported on how scores of people across the country had found their gas station-linked credit cards from Citibank had been canceled.
One reader, Rachel, emailed us and explained her frustration.
I received two letters by mail from Citibank yesterday. One said that because I always paid my account on time and that I was such a great customer they were increasing my credit limit. The next letter I opened stated that Citibank was raising my interest rate from the current 18.99% to 29.99%. (Power more at )