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CitiBank Complaints - Credit Rate Increase

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CitiBank

Posted: 2009-10-21 by   jrflipjr
Credit Rate Increase
Complaint Rating:  0 % with 0 votes
Company information:
San Angelo, Texas
United States

I have also suffered the 29% interest hike, on my personal credit card, rudely enacted by Citibank. I understand the times we are in require desparate measures. I feel their pain - I am in the military and deal, on a daily basis, with the outcries of people opposed to US military actions, worldwide. To that end, I have never used my military status for personal gain, however I feel justified in saying that I sacrifice a lot to defend the freedoms and people of this country so some appreciation would welcomed. As an active duty member who has a great credit rating and having never been late on payments, I am truly outraged that my family and I now have to sacrifice even more to ensure the profit margin of Citibank continues to increase. Is that what my service means to this company? What is truly insulting is that, as a military member, I am bound to use Citibank for business expenses. I wonder how much Citibank is fleecing the US government on interest rates for this program. I believe in the right to make profits as any American, however, when you step on the toes of those who defend your right do do so, then you have crossed an ethical line that will (hopefully) come back to bite you in the rear. I'll be sure to advise all my military friends to avoid Citibank!
Comments United States Credit Cards
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 25 days ago by   Rafael Reyes 0 Votes
I agree 100% they did it to me and my family also..
 13 days ago by   MeltologyMom 0 Votes
I have had a rate hike of 50% since January of this year! That was from about 13% to 20% now. I also make all payments on time, have a credit rating of 820 and a balance history of just about $500 a month (i.e. LOW RISK). So did Citibank just do this increase across the board, and not on a case by case basis? We know they have the statistics on all of our accounts - so why do they do this? I'm 'opting out' of these new 'terms' as my card doesn't expire until 2012 (so I can keep my rate of about 17% until then - still outrageous). They can terminate me then, as I DO have the option to choose a company that won't stick it to me to keep their profits up or to compensate for all those poor individuals who lost their jobs and had to file for bankruptcy.

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