Wow...Citibank takes the cake.
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Wow...Citibank takes the cake.
| Tue, 08-16-2005 - 2:12am |
Well....I'm REALLY glad I'm declaring BKY now.
I just got my Citibank statement. I've never been late with them...and I had some really good transfer deals with them...5% till it was paid off.
Since I have been late on other cards, not with Citibank, the decided to raise my rate anyway...no doubt some fine print somewhere... so now it is...(get this)
30.25% !!!!
Wow!!!!! When Citibank decides to do you in...they do it good!
The payment $164, was 159 in interest!!!
Edited 8/16/2005 1:03 pm ET ET by az_tbone

Yes, unfortunately, it's the "Universal Default" clause that is in every credit card agreement now.
If you are late to *ANY* creditor, they can raise your rate to a default rate.
Basically credit card companies can raise your rate anytime they feel like it. :o
Becky
CL of 4th, 5th & 6th grade Scoliosis
Citibank did this to me a couple of years ago. I was in appeals with one of their divisions that sent me to collections. The short story is that it was a card I was not using and when we moved I called and gave them my new address. Well the dufuss on the phone only changed my street address not the city and zip. I had an automatic transaction that went through. We had no idea as we never got a bill. They ended up reinstating my account reversing all the charges, pulling me back from collection, but I don't think they ever fixed my credit report.
When I called the card that raised my rates and I explained it to the operator she was very rude anbd said she could fix my rate for 6 months but I had to get the other card to fix my credit report. I was so mad to see what can happen when they screw up!
Until your BK goes through I would call them, it doesn't hurt!
Nicola
All my best,
Danni