Citibank
Interest Raised to 24.99% and $50.51 Finance Charge on Payoff

I had an account with Citibank about three years ago. Because I did not return the agreement terms paper, they closed my account, but I continued to make the payments until about the time of the anthrax problems.

My bill was due on the 9th of that month, and they received it on the 10th. My interest rate was raised from 12.99% to a default rate of 24.99%. I tried in vain to get it taken back. I wrote and was told that after six months they would change the interest. To my surprise, the interest did change, but only for new purchases, which I would never see because the card was closed.

At the beginning of November, I took out a home equity loan and sent a check for $2,434.00. I owed them $2,434.13, so I also sent a check for 13 cents. My bill total at that time was $2,434.13, and that is what I sent. To my surprise again, because my payment was mailed and posted late, I got a $15 late charge, a 2-cent finance charge, and a $50.51 finance charge. After I spoke to a manager, I was told I should have called them to get the exact amount. The exact amount showing on my bill was $2,434.13, so I ended up cursing at her and she hung up on me.

I guess they know they are ripping people off. I paid online every month and had no problem with the bill, but as soon as a mailed payment goes out, it is "oh, we got it late." These companies are so wrong to do this to consumers.

I have chosen to contact the Federal Trade Commission, and if I have to get a lawyer, I will, because I am not paying the $50.51 finance charge. Anyone and everyone who reads this, stay clear of Citibank. They are evil and money hungry, and there are no worthy credit card companies out there anymore!

Company: Citibank
Country: USA
State: Nevada
City: The Lakes
Address: Po Box 6035

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