CitiBank Credit Card Complaint - Credit card rate hike
Citibank raised my interest rate to 29.99% for no good reason. This all happened just before the Obama Credit card act passed and went into affect. I was a long term good customer and paid each month on time and more than amount required and had a rate of 12.99%. A Little high but, oh well, I paid. Then for no good reason, they raised my rate and closed my account. The only reason they will give me is that I am a "potential risk". So I refuse to pay anything at all to them!! and have told them so!!! My credit is borderline any way because of them. They call me every other day asking for payment and I tell them no way until I have in writing a better rate than 29.99%. So far no one from Citibank will help me. It's outrageous that banks can get away with this. Alot of good the Credit Card Act did consumers. It just gave the credit card companies the time which they used to review and raise rates.