CitiBank Credit Card Complaint

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Post subject: Citibank warning

Clayton Fuller
Date: 1/2/2001 11:48 pm CDT

I believe Citibank has some questionable business practices. My Travelers credit card was acquired by Citibank in a recent merger. They would constantly be posting my payments late, even when mailed a week or more in advance. I finally had to resort to certified mail.

They also advised me that I had a credit limit of $70K, but when a balance transfer went over $50K they went on a rampage and tried to charge me over-limit fees as well as require me to pay off the "over-limit" amount immediately. They gave me some excuse that the credit limit wasn't really the amount they quote on the phone, but was based some kind of formula.

It was clear I had to dump them, even though I had over five years of good credit history with Travelers. Due to contested interest charges, I overpaid my account by over $250 when paying off the balance to make sure they didn't hit me with any further charges. I sent a letter requesting the account be closed and that they mail my credit balance. After 4 weeks without a check, I called and was informed that even though they had closed my account 3 weeks ago I had to request the credit balance be paid by phone!

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Board Monitor - CA
Date: 1/3/2001 10:57 am CDT

Clayton,

Thanks for your post! Let me preface my statements by saying that I have been a Citibank customer for about ten years and have been pleased with them (they do not sponsor our site and have not paid me to say this!). Having said this, last year there was a class action law suit filed against them regarding late fees (though they did not get near the bad press that First USA got). You can read more details by following this link:

http://www.bankrate.com/brm/news/cc/20001025a.asp

You might considering filing a complaint with the FTC (http://www.ftc.gov).


Best Regards,
Curtis Arnold
CFCCT P.R. Director
http://www.cardratings.org

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Brandon
Date: 1/6/2001 12:25 am CDT

I have also had a citibank account for years and have had no problems with them posting my payments late.(Knock on Wood). It's hard to rely on a third party such as the post office and it is even harder to prove that they would be holding payments. I would just say that if you don't like them get out to anybody. I would do the same if I thought something was out of the ordinary.

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