• Report: #975826
Complaint Review:

Citi flex account (citi bank)

  • Submitted: Thu, November 29, 2012
  • Updated: Wed, January 16, 2013

  • Reported By: kevin — brea California United States of America
Citi flex account (citi bank)
po box 6248 Siuox Falls, South Dakota United States of America
  • Phone: 1866 720-2495
  • Web:
  • Category: Banks

Citi flex account (citi bank) Increased interset rate from 7.9 to 29.9% Siuox Falls, South Dakota

*UPDATE Employee: Listed in agreement sadly.

*Consumer Suggestion: Ripoff Help

*Author of original report: Update

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i have been with citi bank for over 5 years and approx.   3 years ago they closed my account for no reason, they stated that they stopped offering the flex  and closed my acct.never late on a payment until i had to stop my auto pay with them and all my creditors  because of fraud, I was late  by 2-3  days 3 times and without notice or any calls from them until now, telling me that my interest rate went from 7.9% to 29.9% and that i now i owe late fees. i asked to talk to someone in charge , when i got someone on the line they where no help, they stated that the acct. was closed and they cant decrease the interest rate, i stated that if that was so then how did they raise it. he said we can raise it even if you are late by 1 day... help.

This report was posted on Ripoff Report on 11/29/2012 07:33 PM and is a permanent record located here: http://www.ripoffreport.com/reports/citi-flex-account-citi-bank/siuox-falls-south-dakota-57117-6248/citi-flex-account-citi-bank-increased-interset-rate-from-79-to-299-siuox-falls-sout-975826. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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1Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

Listed in agreement sadly.

AUTHOR: Know0neGnome - (United States of America)


Penalty APR. The Penalty APR may be applied to your account if you:
make a late payment or
make a payment that is returned.
We set your Penalty APR based on your creditworthiness. If the Penalty APR is applied to your account because you
make a late payment that is not more than 60 days late or make a payment that is returned, it will apply only to new
transactions and may continue to apply indefinitely. However, if the Penalty APR is applied to your account because your
payment is more than 60 days late, the Penalty APR will apply to both existing and new transactions. It will no longer
apply to existing transactions if you make the next six consecutive minimum payments when due. If you do not make
these six consecutive minimum payments, the Penalty APR may continue to apply to both new and existing balances
indefinitely. Effect of APR Increases. If an APR increases, interest charges increase. Your minimum payment may increase
as well.
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#2 Consumer Suggestion

Ripoff Help

AUTHOR: yourrights - (United States of America)

Know your ripoff rights.  The government now has a powerful agency to stop bad banking practices.  You can file a complaint at http://www.consumerfinance.gov/complaint/
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#3 Author of original report


AUTHOR: kevin - (USA)

So I filed a report with the BBB and Citi Bank called leaving a message saying that they would look into correcting the issue.Three days later then I was able to speak with someone I was told there was nothing they could do. That in deed I was late and technically they could increase my rate after 1 day late one time. They just make up anything they want to increase my interest rate; I explained to them that I received no email or letter stating that the rate would be increased. Also, I explained that according to my bank bill pay the payment was sent 2 days before they processed it, HOW CONVENIENT FOR THEM.. So I was late according to them 2 times by 2-3 days after being on time for 5 + years which was because I had to stop auto payments due to fraud in my account and having to change my account #. This is Robbery.

What ever happened to the 10-day grace period? How can they just increase my flexible spending account from 7.2% to 29.9% for this? Nowhere on any paperwork that I have does it say anything about after being late 1 day can they increase my
interest rate. Which raises another question, how can they raise an interest on a closed account? Is that even legal?? Also, they (not me) closed this account because; they say they dont offer it anymore which I can understand; however, the issue
I have is that it has been negatively reported on my credit report.  About three years ago out of nowhere on my credit report was reported that the account was CLOSED BY CREDITOR. My credit score has been affected in a negative way by this action from Citi Bank.

Actually, it should have said closed by consumer NOT by credit grantor due to the fact that the account was not closed from something I did or did not do.
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