I have been a Citicard customer for several years and have always made my payments on time. My last payment was also made on time, and I paid my balance in full as I normally do. However, Citicards posted it to my account only the next day after the due date. They charged me a late fee of $39 and $9 of interest on my paid-in-full balance, and raised my APR to 26%. It was about 5% before.
When I contacted them, they told me it was all my fault and that my account was now in default, and that I have to make a year of on-time payments to get out of default.
I asked them to close my account and immediately paid it off. Nevertheless, two weeks later they sent me a statement with another $7 of interest on nobody knows what. The balance of my account was 0.
I don't argue with these thieves anymore. I believe that my payment was posted late because of some problem in their online system. However, they don't want to accept it, and even if it was late, the punishment of a late fee plus interest plus an insane APR is way above what I could tolerate after being a good customer for years.
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