Universal Card (CitiBank) Complaint - Want to get Financially Raped? Go Universal/CitiBank

Review by bewareof hilton on 2006-12-14
LOS ANGELES, CALIFORNIA -- I have been an member of AT&T (formerly) Universal AT&T Card (great company) since it's inception approximately 20 years ago. All was fine until Citibank (HEAVY Arab Investment) took over. They offered me a teaser rate to move my "debt" over to them. I agreed but naturally didn't read the fine print. I pay my bills on the weekend (usually very late PM) and several times when I attempted to make an online payment I would get a response that the "system was down". Never thought much of it until I missed two deadlines (both due to computer downtime issues). WELL - Citibank (Saudi Bank) raised my either 1.99% or 2.99% rate to 30+% rate. When I called I got the usual runaround. They couldn't care less about a 20+ year customer. They came back with the canned phrase that their system has minimal downtime and it must have been "". I didn't realize I had to time my payments to their system maintenance/downtime schedule. I'm approaching 60 years of age, have excellent credit, and feel I must warn whoever is reading this that beware of this scenario. For the sake of the argument one can call this failure to make a timely transaction my fault for not anticipating computer down time (no problem) however I would HIGHLY recommend you find a more friendly U.S. company. If you really want to know about CitiBank do some research and you may be amazed on the Arab connection. Citibank also owns more than you think and is slowely/rapidly taking financial control over more and more American's life's. Think about it.
Comments:5 Replies - Latest reply on 2006-12-15
Posted by Hugh_Jorgen on 2006-12-15:
I don't know where you get your "heavy Arab investment" information from, but Citigroup is a public company. It's 65% owned by institutions and mutual funds. Of it's top five individual shareholders, not one appears to be Arab, in fact one is Prince Charles. As far as your credit card, they won't lower the rate, so contact the other credit cards you transferred balances from and see if any of them will make you an offer to move your business back.
Posted by Anonymous on 2006-12-15:
bewareof hilton: I understand your concern and am doing research on this matter. I think you got something here and here are a couple of places to start:
A Pan-Arab Investment Kenneth C. Crowe


Parties Performing Outsourced Activitieshttp://www.citibank.com/hungary/homepage/others/kiszervezesi_e.htm

Posted by bill on 2006-12-15:
If compouter downtime caused you to miss 2 deadlines then you obviously waited to the very last mninute to pay your bill. I thought about the Arab connection and came to the conclusion that your statemnts are ridiculous. As a non Arab stockholder in Citibank, I would appreciate it if in the future you would be more resposable and pay your bill on time.
Posted by Timboss on 2006-12-15:
Check here: http://www.snopes.com/rumors/citibank.htm Best you can do is just switch banks.
Posted by *Brenda* on 2006-12-15:
Why not just make a payment by phone instead of the internet?

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