Citibank N A Complaint - 29% Interest! - Credit Card
CALIFORNIA -- I have had a Citi bank card for years (10+) my limit was $20,000 and for years I have paid on time and often in full. Then like most people we lost our jobs, I called to work out arrangements, my balance was $8000, I was told I could pay $464 a month for 3 months to get me current then resume usual lower payments & my status would remain open, I paid the 3 months on time automatic withdrawals then one week after my 3rd payment I got the harassing calls again and was told that I was still behind $2000 and when I asked how that could be I was told that my interest rate was 29% and since they had reduced my credit limit to well below by current balance I had tons of fees, over limit !!late, interest rate at 29% I owe now $12000 I haven't used card for probably a year or more and my balance is up $4000...in interest and fees, The clincher, if I wanted to close my account they would drop the interest rate to 9% how nice of them !! All while they continue to receive government bail out money.
When is it all gonna stop and when are these banks going to be investigated and put in jail for the crimes they commit ? The only option is to file bankruptcy and screw them back, either way I am screwed credit wise. Write your congressmen !!!