Wow...Citibank takes the cake.

iVillage Member
Registered: 07-10-2001
Wow...Citibank takes the cake.
5
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
Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Tue, 08-16-2005 - 9:39am

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

iVillage Member
Registered: 06-16-2004
Tue, 08-16-2005 - 10:52am

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

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iVillage Member
Registered: 07-10-2001
Tue, 08-16-2005 - 1:05pm
No need to call them...all payments to all cards are stopping immediately. Need the cash to pay divorce legal fees for new Custody Evaluation and my BKY atty says, if you know you're going BKT, there's no reason to pay further.
iVillage Member
Registered: 09-20-2004
Tue, 08-16-2005 - 5:55pm
You know, i saw that, too. We have Universal card through them, and I was reading the fine print. Seriously, isn't there a limit as to how much these companies are allowed to gouge people??? (Obviously not!!!)We've always had enough credit available to us that we could do the shuffle if we were having financial difficulties,, but I can't imagine what would have become of us if we did not. Hang in there! heather
Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Tue, 08-16-2005 - 7:52pm
Wow!

All my best,
Danni