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The first online credit card was launched in September 1999. [2] It was only possible to operate an Egg account over the internet, or via their call centre. Egg specialised in savings and general insurance, together with loans, credit cards and mortgage products. [3] The business was sold in January 2007 to Citigroup.
On October 28, 2022, Citi also announced that AO Citibank agreed to sell a portfolio of ruble-denominated personal installment loans to Uralsib, a Russian commercial bank. Citi also agreed to transfer to Uralsib a portfolio of ruble-denominated credit card balances, subject to customer consents.
Discover is the third largest credit card brand in the U.S., with 60.6 million cardholders or about 8% of cards in circulation, placing it well behind Visa (48%) and Mastercard (36%), but slightly ahead of American Express (7.5%).
Citibank, as First National City Bank came to be known in 1976, made a further attempt in 1977 to create a proprietary credit card that was not tied to either Master Charge or Visa. The Choice card was, like the Everything Card, a regional credit card issued only by Citibank. It also proved unsuccessful, and its cards were reissued as Visa ...
On March 29, 2011, Irzen Octa, a small-businessman from Jakarta, was found lying motionless in Citibank's credit card collection department on the fifth floor of the Jamsostek Tower in Jakarta; he had been there to discuss an Rp 48 million principal debt on his Citibank platinum credit card.
The case has severely affected the reputation of Citibank Indonesia, which was also faced with a spectacular case of embezzlement by one of its employees around the same time. Bank Indonesia banned Citibank for two years from processing new credit card applications and outsourcing debt collection. References
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