Comments on: Is Citibank Becoming a Good Credit Card Company?

By: Balance Transfers Helper

Balance Transfers Helper — Tue, 20 Oct 2009 17:16:15 +0000

You are right Nancy. The visitors who are posting today are the lucky ones. I learned earlier in the year that a good percentage of people who recieve these opt out notices accidentally toss them in the garbage and don't learn of their rate increase until it is too late. I'm sure there will be tens of thousands of people pushed to the brink when they open up their credit card bill two months from now and learn their payment has doubled. Also, IMPORTANT EDITOR'S NOTE: This story was written at a time when Citi appeared to be turning a positive corner. I apologize for jumping the gun on this story though, when it was written, Citi was one of the only major companies not generating negative comments (the other company is Discover card, which continues to be a good credit card company.)

By: Nancy Pierce

Nancy Pierce — Mon, 19 Oct 2009 23:47:00 +0000

I too received a notice raising my rate from 11.29 to 29.99 in the next 45 days. After a call to the 1-800 number I was told that there was no chance of the rate being changed and I had a choice to accept the new rate or opt out and continue my “variable” rate until it was paid off. Even the variable rate will be much lower than their new fixed rate. I can predict many more consumers reach a point of not being able to pay any bills and losing more personal property. It is a shame that large companies are gouging the consumer to the way they are doing. I believe banks have forgotten it has been our taxes that have helped mark the funds for rescue that Congress has released over the past few months. Needless to say, once my account is paid off with the exiting “variable” rate, I will NOT seek another card from CitiCorp.

By: Rebecca Howell

Rebecca Howell — Mon, 20 Jul 2009 03:15:27 +0000

yes,citibank..and yes,closing acct.and not opening new acct. anytime soon…no benefit to me,more debtload,for what purpose?…you will be hearing negative things in the future,believe me.

By: Balance Transfers Helper

Balance Transfers Helper — Wed, 15 Jul 2009 17:23:34 +0000

Rebecca,

I strongly recommend closing the account and opening a new one, especially if you have a balance in excess of $1000. With a $1,000 balance, you will be paying $300 a year in interest at that rate. Also, you didn’t specify which company is doing this to you? Is it Citi? We haven’t heard much negative news about them for quite some time.

By: Rebecca Howell

Rebecca Howell — Wed, 15 Jul 2009 02:43:31 +0000

I received notification today that my interest rate will rise to 29.99 with in the next 2 months unless I opt out and with no chance of being offered a new card and repay my current debt at my current 15.24. After going up only 2 levels on the supervisor rung and put in line [among thousands of others,I am sure]for the call from the next level of supervisory talent,you can be assured I am furious.I have not had a late payment for over 36 months.I make more than my minimum payments to this entity as well as others.I am a widow on a fixed income with decaying property,no health insurance,no real investments and am feeling the siren call of bankruptcy.I was informed that at this time citi can not and will not budge from their position on raising my interest rate.So as far as I can see,I am getting [expletive deleted] with out benefit of being kissed.I had to fight with them the last time they tried to do this and felt blessed that I only went from 11.something to 15.24.they want 29.99? Take me to court.

By: Balance Transfers Helper

Balance Transfers Helper — Mon, 08 Jun 2009 15:14:50 +0000

Amy,

I hate to be disagreeable, but in most every case, 0% interest rates have a specific time limit on them, generally 1 year or less. While a few companies used to do 0% balance transfers for life in very rate instances, these cards actually required monthly purchases. If you still have the agreement, please email me a copy and I’ll take a look at it. If wrong, I will reconsider my position on Citibank. Unfortunately, however, I think there may have been a fine print trick you overlooked with this card.

Have you contacted Citi credit cards for more information? It would be helpful to know what they had to say.

By: Amy

Amy — Fri, 05 Jun 2009 18:24:15 +0000

You speak without having dealt with them. I have excellent credit and transfered a balance to Citibank using one of their Pay-up-front balance transfer offers. The promise is that after paying an up front fee of 3% your interest rate will be 0% IF you do not use the card for anything (a purchase would automatically nullify the agreement). I have made no purchases but today I am told that the offer I signed up for has expired and they now charge me 9.9% on my balance.
I read EVERYTHING in the agreement when I entered and at no time was an expiration mentioned. But now they changing their terms – and what can I do against this big company? very little What a disappointment Citibank! I obeyed their rules and they change them.