Home Depot
Late Fees Over $250 Charged on a 40 Cent Balance

Recently I attempted to purchase a new washer/dryer from my local Home Depot because they had 0% financing for card holders. I tried my card but was told the account had been closed. No problem. I applied for credit again and was refused, and I was told I would be receiving a letter explaining why. Easy enough, right? Wrong.

The reason for the refusal was sent to me with a bill showing a balance of $250.54, in addition to a letter from a collection agency. Upon a closer look, I saw that the late fees and interest for the year totaled $250.14. I never received a statement or used the card this year. Now let's do the math. The difference between the fees and interest and the current balance is $0.40. Yes, 40 cents. Citibank decided to accrue late fees and interest on 40 cents from the beginning of the year, totaling over $250.

The folks at Citibank are a bunch of crooks. Beware, and check your statements carefully.

Company: Home Depot
Country: USA

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