Does Anyone feel like Bailing

WR4981EF · 12-03-2008, 10:39 AM

Citi is raising the APR on accounts of those with A++ credit to 19.99%

lookout123 · 12-03-2008, 10:49 AM

My dad just received a very "uniquely" phrased letter from citi. He let my sister use his CC to buy her truck a couple years ago. Fixed 3% for the life of the loan. That is the only purchase ever made on the card and she only has about a year left to pay on it. The letter is confusing but once it is deciphered it basically says we want to raise your rate to 12%. Yeah, we agreed on 3% but we need more money. If you don't agree with us raising your rates you have to let us know in writing. If you don't want us to change the rate we won't let you use the card for future purchases. Funny.

ZenGum · 12-04-2008, 08:35 PM

Quote:

Originally Posted by lookout123

My dad just received a very "uniquely" phrased letter from citi. He let my sister use his CC to buy her truck a couple years ago. Fixed 3% for the life of the loan. That is the only purchase ever made on the card and she only has about a year left to pay on it. The letter is confusing but once it is deciphered it basically says we want to raise your rate to 12%. Yeah, we agreed on 3% but we need more money. If you don't agree with us raising your rates you have to let us know in writing. If you don't want us to change the rate we won't let you use the card for future purchases. Funny.

Since this does need a reply, I'm left wondering how the sentiments of "go fuck yourselves" are best expressed in legal jargon.

xoxoxoBruce · 12-05-2008, 01:52 AM

That's standard procedure for all the cards I've had. When they decide to jack the interest rate, the first time you use the card, the interest rate goes up on the unpaid balance. Doesn't bother me because I never pay any interest.

lookout123 · 12-05-2008, 09:26 AM

This time is a bit different though. This isn't one of the small print disclosures they expect you to simply ignore and throw away. This is a full on formal letter asking him to give them written and explicit permission to change his existing rate regardless of future use. Pretty funny really considering he doesn't and won't ever use the card.

TheMercenary · 12-05-2008, 06:28 PM

Quote:

Originally Posted by lookout123

This time is a bit different though. This isn't one of the small print disclosures they expect you to simply ignore and throw away. This is a full on formal letter asking him to give them written and explicit permission to change his existing rate regardless of future use. Pretty funny really considering he doesn't and won't ever use the card.

I would have to tell them to fuck off. No change in the rate.

12-03-2008, 10:49 AM	#2
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	My dad just received a very "uniquely" phrased letter from citi. He let my sister use his CC to buy her truck a couple years ago. Fixed 3% for the life of the loan. That is the only purchase ever made on the card and she only has about a year left to pay on it. The letter is confusing but once it is deciphered it basically says we want to raise your rate to 12%. Yeah, we agreed on 3% but we need more money. If you don't agree with us raising your rates you have to let us know in writing. If you don't want us to change the rate we won't let you use the card for future purchases. Funny. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

12-05-2008, 01:52 AM	#4
xoxoxoBruce The future is unwritten Join Date: Oct 2002 Posts: 71,105	That's standard procedure for all the cards I've had. When they decide to jack the interest rate, the first time you use the card, the interest rate goes up on the unpaid balance. Doesn't bother me because I never pay any interest. __________________ The descent of man ~ Nixon, Friedman, Reagan, Trump.

12-05-2008, 09:26 AM	#5
lookout123 changed his status to single Join Date: Apr 2004 Location: Right behind you. No, the other side. Posts: 10,308	This time is a bit different though. This isn't one of the small print disclosures they expect you to simply ignore and throw away. This is a full on formal letter asking him to give them written and explicit permission to change his existing rate regardless of future use. Pretty funny really considering he doesn't and won't ever use the card. __________________ Getting knocked down is no sin, it's not getting back up that's the sin

12-03-2008, 10:39 AM	#1
WR4981EF Non-Newbie Sort Join Date: Jun 2008 Location: Pennsylvania Posts: 6	Citi is raising the APR on accounts of those with A++ credit to 19.99%

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