Complaint / Review
Citibank
Citicards Changed my balance transfered rate which was for the life of the balance

In early I have received a purchase and/or a balancetransfer promotion rate of 2.99 for the life of the balance. I have takenand advantage used $9000.in December12, I received a notice letter that says my promotion will expire October1. I immediately contacted Citibank about the matter and asked thecustomer service why my balance transfer rate has changed. No explanationwas given except they told me to provide a proof of the promotion. Therep also indicated that they found the promotion in their system but there isno documentation that I have it therefore I need to fax a proof of thepromotion letter. I acknowledged that I don't have the promotionletter; I have shredded it my transaction completed. Big mistake inmy part; I should keep it. Anyway, the Rep told me that she will give mea better rate of 1.99% for 2 years and should contact us if still the balancewas not paid off and we will extend it for you. This time I requested aletter from the Rep and I received it within 5 business days. Today whichis December 23; I contacted Citibank customer service which forwardscalls in Asia and requested an extension. Mr. Joe, in Asia told me that Icannot get an extension however suggested another offer which lasts 6 months inthe rate of 13.9%. Unbelievable, my credit worthiness is an excellent760. I immediately requested to speak supervisor. Jason thesupervisor told me the same thing and when I asked why the promotion rate ishigher than my APR. The supervisor said " your APR rate will changeto 17% your should received a notice letter. Why? The consumer defaultrate is high therefore, we change our rates for all our customers. Canyou believe this? This is outrages; my APR is changing because ofconsumer default rate. This is wrong and the US Government should havedone something about it; they are stealing millions from us, Americans. After 14 years of a loyal customer, I'm planning to close my accounts with Citibankand transfer the remaining balance of $3600 to my capital one card. I will never do a business with CitiBankAgain.