Credit Card Sudden Interest Hike
Author: Judy, Guest
Posted: Tue Aug 19, 2003 5:28 pm
Post subject: Interest Rate Gripe-Citibank!
I am so upset. I have a credit card with Citibank. They are deducting my credit card payment directly from my checking account. For the last year my payments have been on time. I found out that they pulled my credit report. On my report I have been late a couple of times with other creditors. A representative from Citibank told me that even though I was not late with them they increased my interest rate to 28% because there was something negative on my credit report and because there is a possibility I will be late with them. I asked a Citibank representative what did you find that was negative - they would not tell me. Now They deducted 198.00 from my bank account and the finance charge was 197.00. 1 dollar went to pay my 8,000.00 credit card bill. Can they do this?
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Posted: Tue Aug 19, 2003 5:28 pm
Post subject: Interest Rate Gripe-Citibank!
I am so upset. I have a credit card with Citibank. They are deducting my credit card payment directly from my checking account. For the last year my payments have been on time. I found out that they pulled my credit report. On my report I have been late a couple of times with other creditors. A representative from Citibank told me that even though I was not late with them they increased my interest rate to 28% because there was something negative on my credit report and because there is a possibility I will be late with them. I asked a Citibank representative what did you find that was negative - they would not tell me. Now They deducted 198.00 from my bank account and the finance charge was 197.00. 1 dollar went to pay my 8,000.00 credit card bill. Can they do this?
View our latest credit card ratings!
