I called CitiCard with a question about my account and, after I got my answer, the operator offered me a balance transfer with zero interest for several months. I said that I did not want to do that because this was the card I used daily and I did not want to incur an interest charge on my regular purchases. We have used this card since 1996 for all our grocery, gas, etc purchases and then just pay it all off at the end of the month.
I was assured that having a balance transfer would not cause interest charges to be incurred on our daily purchases. I asked the operator to confirm this with the supervisor, which they did and I was assured by a second person that there will be no interest charges on our daily balances because I have an unpaid balance transfer.
I have now received my statement with (you guessed it) an interest charge on the average daily balance of our regular purchases. When I called I was given an entirely different story about the interest charges and told there was nothing they could do about it. They did give me a zero percent window of three months so I can transfer over to a different card.
It is obvious that this company is on a campaign to tell consumers anything, including absolute lies about future terms, to generate these balance transfers. The REAL game plan is to then begin charging interest on daily balances! They figure (and they are probably right) that most people won't take the time to call or won't even notice, but CITI will make millions on the additional interest charges. Great plan, but exposes just how unethical and uncaring this company is.
Thank you US Government for mortgaging our future to bail out companies like these, so they can then prey on Americans as they struggle with the recession!