Citi Credit Card - Citibank Credit Card
Rate Hike to 29.99% After Ten Years of On-Time Payments

I recently had an interesting experience with Citibank. I have been a card holder with them for well over 10 years. I seldom carry a balance (I do not carry a balance on any credit card unless it is a same-as-cash deal). That is probably why I did not notice when they jacked my rate up to 29.99%.

I am always on time for all my payments and always current with all bills. There is not a blemish on my credit report. Citi said I had too high a revolving credit balance, which is interesting, because all I have outstanding is a 4-year same-as-cash furniture deal ($2,800), a 3-year same-as-cash Best Buy deal ($700), and a 6-month same-as-cash deal ($440). When I asked more, I was told they needed to raise interest rates so they did not lose so much money. My reply was that since I am canceling, 30% of nothing is nothing, which is less than the usage fee you get when I make a transaction.

Perhaps Citibank is not the only one to do this, but I know I will never hold another Citi card again as long as I live. If this is how they treat a good customer with 10 years of clean history, I would really hate to see how they treat someone who was a bad customer.

30%!!! Geez, it is almost cheaper to go to a payday loan office!

Company: Citi Credit Card - Citibank Credit Card
Country: USA
State: South Dakota
City: Sioux Falls
Phone: 18665102761
Site: citicards.com

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