OMG! RAGING RANT HERE!!

Okay... normally I am SO not one to rant off and spew but THIS MORNING... OMFREAKING GOD! I AM SO ANGRY RIGHT NOW I COULD LITERALLY SMACK SOMEONE!

I've had my credit card with Citibank for 5 years now...it was LOCKED IN at 7.9% - never late...have paid it off many times over - just now went to pay it online and I look - and what do I see?!! OMFLIPPING GOD - MY RATE is now 14.99%!! I got on the phone IMMEDIATELY and wanted to know WTH caused it to DOUBLE!

I'm told and I quote "due to the financial situation our country and banking industry is in, we changed the rates."

Me: WHAT?! EXCUSE ME?! When did I get notification of this "change in rate"?

REP: "Uhm......I think it was December."

Me: "Really?! I have 6 months worth of STATEMENTS in front of me...NONE OF THEM have a WORD about change in rates. Dont you think I would have CALLED BEFORE NOW had I been notified of this sudden "change in rate"?"

REP: "Uhm... well...maybe we mailed out separate letters then."

Me: "Yeah RIGHT Dude...I dont think so. So.let me get this straight..we - the tax payers - just payed out the BUTT to bail YOUR BANK and EVERY OTHER BANK and GOD and COUNTRY out of the mess YOUR CEO'S got yourselves into - and you have the cahonas to raise our rates just because you "feel like it?!" Are you freaking nuts?!!"

REP: "I can change it back but I'll have to close your account."

Me: "Hmm..okay..so let me see now...I've been a faithful customer, NEVER LATE - ALWAYS PAID OVER THE MINIMUM - have a limit thats disgustingly high but never go there...paid this card off several times, had a fixed rate that isnt offered and cant be found anywhere on the planet any longer...that YOU DECIDED TO CHANGE SUDDENLY and you want to CLOSE MY ACCOUNT to give me the same rate I HAD LAST MONTH? Is this correct??"

REP "Yes ma'am. Its the best I can do...sorry it costs more to lend money now given the financial crises we are in. All the banks are doing this - every one."

ME: RAGING AT THIS POINT ...... *speechless to what he just said to me....for a moment...* "Really? REALLY?! It "costs more" to lend money? Oh buddy dont even get me started on the banking industries practices.... Close this account - you just lost a customer. I refuse to pay 15% interest - thats RAPE - because I pay my bills on time and I get screwed? No thank you....revert my interest rate BACK to 7.9% on the rest of what I owe and you bet your CEO will be getting letters from me along with my Congressmen, Senators and everyone else I know. Illegal and immoral practices is what got you people into this predicament to begin with - and yet...WE THE TAXPAYERS bail you out - yet we still get screwed in the end."

CLICK.




So...if you have a credit card - doesnt matter if its a store card or a regular one - CHECK AND SEE if your rates went up....

ARGH!

Sorry to hear about that. Just another reason Ill never get a credit card.

Wow! Thanks for the heads up Deb.

Had my card with the same company since 1987.
Paid it off several times over, been a loyal customer.
I did get the separate notice about rates going up. The only reason I'm not mad is I now pay it off EVERY month. And I earn 1% cash back each year.

I'm sorry you got caught off-guard Henny's Mom. It's been on the news that this was coming. 2009 is the year we all get a big financial screw with no bail-out for the little guy that is responsible.

OMG that's awful! I'd be fuming, too!

Quote:
Ive got a question. When businesses and companys raise rates and prices because they are struggling, do they not know thier customers are struggling too, and I for one dont get paid more because prices are going up.

They did the same thing to us, I know your pain.........

This has been happening to people all over the country. Folks, pay off your credit cards! Same thing happened to us, good faithful customers, never, ever late on a payment and suddenly from out of the blue we get a letter saying that our interest rate has doubled.

We NEVER received notification....I asked when they sent it they said "4 December" I asked HOW ....he first said.."In the statement" NOPE I have 6 mos of statements..not there. Then he said "Maybe separately?" NOPE Never got it...what address do you have? Right address...

I never got it.... I open EVERY piece of mail I get.... me and only me because I do the bills. I never recieved it.

This is just BS plain and simple.... another way to screw the people - thats it.

Count me among the screwed....at a time when our customers are hurting and payments are coming in reaallllyyyyyy sssllloowwwwwww