Citibank N A Complaint - Another Rate Hike Within A Year. This Sucks
Citibank just hiked our VISA credit card (issued through Key Bank) rate for the second time in a year by a whopping 5%.
We pay our bills on time and our credit rating is well into the 700's.
I think we made the mistake of paying it off the last time they made a rate hike. Probably made us less valuable to them. We let it run up a bit, but not much. Of course they might be trying to fix their financial problems on the backs of their customers. Dumb idea. That will just make it worse, not better. But what the heck, the government will bail them out with our tax money -- right?
Opt out provision will keep our old rate until 2011. Guess we'll pay it off by then and wave goodbye. Too bad. It was nice being able to pay by direct transfer from our checking account.
Bank of America has higher rates now, but after the Citibank hike, we'll be using the BA card and shred Citibank's.
I wish Key would do their own card. They seem to be less predatory than Citibank.