Citibank has begun closing customers’ accounts without telling them and get this raising their interest to 29.99%. Well I have two cards with Citibank aka Shitibank and got a noticed in the mail 2 days ago that one of my cards will be jumping to 29.99%. Well I used to use this particular card all the time…never keeping a balance for longer than a month or two at the most. Last year, I got a letter saying my 8% interest rate was jumping to 18.99%. I called them and asked them what is going on! They replied back with a response with “it’s because of the financial crisis..blah blah blah…” Well the exact time they raised my interest rate to18.99% last year they are doing it again this year. Effective November it will jump to 29.99%, why?? Financial crisis. Well this card will never be used again until the interest rate is lowered.
There are thousands of people who either got their cards canceled without proper notification or got their interest rate increased to 29.99%. The AP reported that “Citi closed the accounts on Wednesday, but sent out letters Monday informing customers of the change. So Citibank waits until the last minute to tell customers, most of whom probably didn’t receive the news before their cards were shut down.”
Are you in the same boat? Did this happen to you too? Comment here
