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Martha of Hamilton, NJ November 17, 2009

I've had my Citibank Mastercard for 14 years, and am a good customer--paying off my monthly balance and only occasionally racking up late fees, which I always paid within the next 30 days. In April 2009, I was informed of a security breech at Citibank, and was told I would receive a new card in the mail. I never received the card, checked my balance--which is only available to me online via an electronic-notifications only account. I checked my online account, and it showed a 0 balance. When I didn't receive the card, I left the account alone. No subsequent statements that showed me anything by a 0 balance.

In July 2009, I received a call from a collection agency in Kentucky telling me I was overdue in my payment and owed an additional 160+ in late fees and rates. WHAT? How could I have a balance when my account showed 0? Well, Citibank does not care to keep long-term dedicated customers--after several phone calls to explain what happened, paying off the amount within 30 days of first knowledge, and asking Citibank to take some responsibility for what is a flaw in their system--my balance was removed by some "SEC TRANS" after a security breech, and I am supposed to know what that means, I will be hounded until I make the now-200 payment.

I consider this fraudulent activity on their part in posting an incorrect balance after being the ones to close down my account. I will likely have to pay the amount, and my credit rating is suffering. Citibank has lost another good customer, and I will not be surprised when they fold as a company. Reduced credit rating, loss of long-term good credit standing, loss of money.

sandra of richmond, CA November 17, 2009

CITIBANK sent me a letter raising the interest rate on my credit card account to 29.99 percent. I am a senior citizen on social security. Of course I shut down the account at the 15 plus percent interest they had raised it to a few months ago. Doesn't the US Government own a good piece of CitiBank? Is this a government-approved raise on senior citizens? The government paid CitiBank loses out of our taxes. Now I must tighten my belt and spend all of my retirement funds to CitiBank-- which is owned by the government! I certainly cannot buy anything new-- nor can millions of Americans whose interest rates were raised. The banks are insuring that the economy will not improve-- and we will all struggle to pay banks inflated rates with our last savings. Why? Can't government do anything about this? They own the darn banks.

Julie of Groton, MA November 17, 2009

My husband and I got a letter stating our interest rate would increase to 29.9% or, at our choosing, we could close the account. We have credit ratings above 770 and have never been late with a payment. We did increase out balance this year because we did a house renovation, but as I said, our payments were all on time, and we were on course to pay off this card by the end of the year, if not earlier. This is a lousy way to treat a good customer. Use our taxpayer dollars and then stiff good customers. What a business model.

Alexander of New York, NY November 14, 2009

I am a consumer with very good credit standing. (No late payement, good credit rating, pay more than the minimum due) However over the last several months, I have received interest rate increases from several banks (Citicard, AX, Capital One) ranging from 4 to 5% on EXISTING BALANCES. In light of the current economy, and the bail out which all of us provided for these banks, there needs to be an immediate cap and limitation placed on increases of existing balance. I feel that the credit card reforms that were passed earlier this year have become an open door invitate for these increases. If you opt out of these cards and have your accounts eventually closed by them, you risk your credit standing. I urge consumer affairs to rigorous in bring these tactic to Congress' attention.

Teresa of Ontario, CA November 14, 2009

Just received the same letter as everyone else stating that my interest rate was going to be changed from 11.24 to 29.99. Called and spoke with rep who just stated it was so that they could extend credit to other people. I have never been late on a payment or gone over my limit. I kept telling him that 29.99 was equal to their default rate and he just kept saying the same thing over and over. My only option is to opt out. I have had this card forever and had transfered my balances from other cards to this one and now I have to close it. I can't believe there is nothing I can't do about this. I have ever referred my friends to this company in the past.

Angela of Germantown, MD November 13, 2009

I recieved a letter stating on 12/19/09 my interest rate will go from 13.9% to 29.9%, I called and talked to a representitive and she said I had two options A. Stay with the rate and make my payments and will not be able to use my card or B. Agree to the 29.9% and use your card. I explained that I am never late on my payments, I all ways pay more than the minimum. She said I have no other options, I asked if I could talk to someone else to negociate a lowere rate and she said no.

Steve of Streamwood, IL November 13, 2009

Citi bank sucks. I have a citi rewards card with a rate of 7.99 excellent credit my score 850. In July I was contacted telling me my card was going up to 14.99 because of the economy same with my discover. Now I just received a letter that its going up again to 18.99 that crazy seriously My card has a limit of 10,000 and all I owe is 50 bucks. I'm canceling them this weekend.

Travis of Universal City, TX November 13, 2009

I have been a citicard holder for the past five years and have been very happy with them. I have refered them to friends and family over the years. I have never missed a payment and was always in good standing. I just recieved a letter saying my account has been closed. When I called they told me that they would keep it opened if I agreed to a rate increase from 7.9% to 14.9% they told me it is so they could be competitive in the market and provide credit for their customers. It appears that all they are doing is losing customers and they don't seem to care or have a good reason. I am very dissapointed and will make sure I retract my recomendations for this company. How is it possible that a company can recieve a government bailout for billions of dollars and then screw their loyal customers that can pay their bills. How did taxpayer money contribute to charging taxpayers more money to have credit from a company taxpayers bailed out? This is unfair and unethical. They should be held accountable for their actions.

Thomas of Aurora, IL November 12, 2009

On November 1, 2009 I received a letter from Citit Bank saying that they were raising our annual percentage rate from 14.99% to 19.99% on December 20, 2009. On January 1,2009 my interest rate was 6.37%. This will be the second time this year my rate was increased. I have a credit line of 19,000 and we pay off the balance each month. Experian Credit Bureau say's my credit score is 910. We have never been late on a payment. I understand that Congress is going to limit the rate that credit card companies are going to charge but My God it's too late they are doing all their rate increases before any legislation is effective. Is there no relief from this injustice. What are my alternatives other than discountinueing my credit card. I spoke with Citibank on the phone and they could not change my rate to a lower rate because their expenses are now higher. My only real alternative was to discountinue my card. Please help me with this. My wife and I are both retired and I think this is an injustice at the very least.

Ted of Sioux Center, IA November 11, 2009

Citi closed an account that had been open for over 4 years without notice, and without providing me any reason in writing. We received no letter. I tried to use the card and it was denied for purchase. They promised a letter from their legal department explaining further which policies were used to make the decision, but the letter never came and we were offered no grevience process.

I would like more information about what I can do in situations like this. Is there any one or a business you can refer me to that can explain the processes credit card companies use to make these descisons. When I asked one of the representatives about whether closing the account would negatively impact the credit score, she said "I am not a credit education specialist maam."

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