My balance carried a promotional rate of 1.9% for as long as it remained unpaid.
Looking over my statement just now, I saw that for the past 7 months I have been billed roughly 11%. The bank says I failed to answer a change in terms, or some kind of conversion, and that this made me lose the promotional rate on the balance.
That really bothers me. Notices about changed terms arrive constantly, and they are long and tedious to read. It never occurred to me that an agreement could be altered backward in time merely because I did not respond. I assumed such clauses applied only to future events, such as a missed payment.
They have said they will restore the rate from now on, but not for the past months.
All of us should join forces and take these people to a show like 20/20. Judging by the other posts, the fraud here is no accident. I once considered Citibank a respectable company, and I cannot believe it is permitted to do business like this.
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