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Citibank Credit Cardextortion by citibank

Review updated:

I've had a Citibank credit card for years. I've always made my payments on time and more than the minimum balance. I signed up for their autodraft program. I went onto my online banking this month to check on my balances and noticed no payment had been drafted? I then had to go back to their website and make a manual payment 8 days after the original draft date. I received my next scheduled bill with a $39 late fee and a raised interest rate to 29%!!! I called them to ask to remove the fee and they denied it 3 days later. I called a second time to get it removed and my interest rate returned to its original rate. I get the run around again and am told there is nothing that can be done? What kind of company ### on it's customers who try to do the right thing and fix an honest mistake? I'll never do any business with Citi again and will do everything in my power to get my employer to drop all business with CITI world wide. If you have been burned this way too I urge you to convince as many people as possible NOT to do business with them.

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Comments

  • Si
      Jul 04, 2009

    I agree. In the older better ways of doing business, companies would forgive someone if they were late once with a payment if they had a good record. Citi sends their statements out late so you have very little time to send payment back and the moment you are late even a day, they raise you. I am in the process of canceling my accounts with them.

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  • Ju
      Jul 09, 2009

    i have the same problem with my card. the rate went from 14 to 24 to 29 percent in 3 months. when i called to complain, they told me they had the right to increase my rates. they said they sent me letter informing me of the increase months earlier. never received any such letter. this week they call and say i can make a payment over the phone. i said will you change the rate back to 14% and decrease the amount of finance charges. they said no and tell me the rate went up because of purchases i made. then said i was 24$ short on the payment one month. never had a problem with this card when sears owned this account. i suggest that all citi card holders stop paying their cards and drive citi bank into bankruptcy. oh wait they will get bailout money anyway.

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  • Mn
      Jul 09, 2009

    The very same thing(s) have just happened to me! I did not receive a bill for June, and this past weekend (July 5, 2009) realized it while checking my calendar on which day each bill was due. I contacted them, but it was too late. My bill was due June 26 and it was July 5 now, and they had raised my interest rate to over 29% and a late fee of $39. I DID NOT RECEIVE A BILL!! I believe they do this just to be able to tack on charges and raise fees. They are not willing to help me in any way, even though I have always paid my bills on time. Now the mere interest is what I normally would pay in making a payment. Can anyone help me?! I'm so upset I can hardly stand it!

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  • Ma
      Jul 23, 2009

    Well I have not been late, have made all the payments on time. I have been making minumum payments only. But I have had this card for over 8 years. We have lost of 60% of our income right now so minimum is all we can pay and as I said always on time. I got a notice yesterday that our 7.99% Interest rate is going to 29.99% almost Quadruple (23.99 + prime which comes out to 29, 99) This does seem like extortion. I would love to know who I could make a complain to. I think there should be an investigation.

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  • Bi
      Oct 20, 2009

    I juat received a letter today that my 10.99% platinum card is going up to 29.99% also.Never late, always paid up or paid more than the minimum.

    So thought I'd check out The Complaints Board, see what ya got on here.

    Evidently they are doing it to everyone. Extortion is right.

    I am closing my Citi card as well as my Chase card. They both can't stick it.

    They can take my tax dollar for the bail out and give the crooks they have for CEO's bonuses and then turn around treat us like this.

    Biting the hand that feeds them.I hope they both fold. Everyone needs to opt out and bankrupt the ###s. Next time there won't be a bailout.

    They are scrambling to get this ### in effect before the new credit laws take effect. That is why the government is trying to push it through quicker.

    There has to be something that can be done. Any other business would not be able to take part in such underhanded deeds and get by with them.

    And when and if they ever start sending out those pre approved low interest rate cards again, I am sending it back and telling them where to go.

    Many of people who defaulted have gotten forgiven. But the responsible consumer who pays their bills is being punished.

    Here is another site I was reading earlier. http://www.consumeraffairs.com/finance/citibank.htm

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