Complaint / Review
Citibank Platinum Select
Interest Rate Raised Despite Never Being Late or in Default

After being a great customer for Citibank, we got a notice that our interest rate was being raised. As per their contract, I knew we had never been late or in default to this company.

So I called, and the lady on the other end said she did not know why they raised it. I told her that I had excellent credit, or I wouldn't have been able to finance a brand new car at 0 interest just a few weeks before. We were also informed in a letter that if we didn't accept the new rates, our account would be closed and we could pay off the balance at the current interest rates.

I was told that we needed to contact the credit reporting agency to find out the reason why. The representative also said she had gotten a lot of calls for the same reason. I was not satisfied with the answer, so I called again and talked to a supervisor. She said it was based on my credit report and on being in default to another creditor.

Another lie and con. My credit report showed no such thing, and I already knew that. I told her this is a good way to lose customers, and good ones at that. She didn't act like she cared!

I want everyone to know about this small writing in Citibank's agreement, just in case. I think it should be illegal. Their contract states that if you are late to any creditor, your interest rate can be raised. This is being double penalized by these credit card companies. I was not late to anyone, but had I been, they could get away with also making you pay their company for how you dealt with someone else.

I am going to speak to everyone to get this stopped. Consumers should not be double penalized. Your actions toward one company should not benefit another. I would rather see the one you are in default to making the money than pay someone you have never been in default to.

Speak up, people. This company is giving us the shaft. Even good customers are being punished, and it's not right. You try and try to do what is right, which is pay your bills, and then you run into people and scams like this.

My rate had been raised to where I may never have gotten this paid off. Even when you are a respectful, good-paying customer, you can still get the shaft.