CitiBank - CitiCards 10yr Costumer Treated to 25% APR after ONE late payment! New York , New York

It's not a matter of is it legal or what's in the contract. The issue is you are a customer and you have a right to choose who you do business with. Of course the contract allows Citibank to rip off consumers and change the APR to 29.99% for one late payment, it's their contract. That's what these big banks do. Citi bank clearly is an unethical player in the banking industry. They thrive by charging outrageous fees taking money from people that are too busy to notice or do not want to fight back, it just a numbers game to them. That's why the moment a bank or any business steals or treats the customer poorly the customer must have the courage to change banks or not spend another dollar with that company. Vote with your dollars the BBB will not help you. My APR was changed to 29.99% also even after the bank admitted I was charged a late fee incorrectly they waved the late fee but the APR remains 29.99%. I have been told to request an investigation. I would rather not do business with anyone who treats me this way. I am telling everyone I know to walk away from this bank. I have stopped using my Citi cards completely. I will celebrate when they loose market share for their aggressive business practices maybe they will not go out of business right away but they are not too big to fail when they can not get anymore customers.

yes, those forms that should be VERY simple and easy to read.. ARE intentionally NOT! Citbank and others like them ( also including COBRA , insurance companies) prey on thee hope that we wont read it all...must WOULD be horrified if they did and might stand down. We need an overhaul and Im thrilled the current administration is standing up to these bullies. - I too have been ripped off by Citibank and treated  poorly after a long term great record with them even through some very tough times! They dont play fair and they dont play nice... f 'em! and their evil ways, and overbilled fees, balance! 

 They are skirting the laws and thumbing their noses at us all!  They think they are too big to be taken down -  and said so  - they "know i wont sue them!" 
They count on these behaviors or lack of resources... that is why we are all sitting ducks! I agree with most of whats in this post... unbelievable lack of ethics and customer service  and when they break the law... too bad... im just one little guy struggling to survive... I will pay everyone EXCEPT THEM now! Just my take what  little  have to pay them with AND SUE instead!
They are shooting themselves in the foot... if they were playing and earning fairly I wouldn't begrudge them the interest..  (that includes those freak'n blatantly greedy bonuses too!)

You guys are talking about different things..The last comment that was made was regarding a change in terms..which had nothing to do with the consumers acct or payment history. And I have to agree with the other comment made regarding the RiCA-Cardmember agreement.  Everyone who gets a credit card receives this but how many read it..If you read the terms you wouldn't be shocked that the rate when up. Yes you would want to get it back down but you were informed this could happen..So instead of blaming others..Take responsibility.

I was NEVER late!  I was a customer since the eighties.  I called and confirmed the same information inquiring why my rate was going to be increased to almost 23%.  Just because they CAN!  I opted OUT.  I had almost zero balance.  Opted out and paid it off. THEN, my acct was fraudulently used.  I CLOSED my account.  I do NOT care if it messes with my FICO score.  I'll take my chances.  Better than dealing with Shitibank.

I would just like to say that many clients find themselves in the same predicament, and although I understand it is a frustrating situation to be in you should be aware that it is in everyone's RICA (credit card agreement) that missing a payment can cause the APR to default up to 29.99%. This happens automatically regardless of how many days late you were or how long you were a client or what kind of payment history you have. It is fortunate for many, though, that new credit card laws will prevent this from happening for a first time late payment. I know this doesn't help you now, but the only thing I can recommend for you is to stay on top of your bill from now on and you may be able to get your APR repriced (if you didn't pay off the account yet.)

Citibank reduced my credit line. I been with citi for over 9 years.  They claimed that there was something on my credit report. When I took care of it, they said they can not do anything at this time. Wow, you think with all the money they spend on the Met, they will at least try to be nicer to they long time customer. My other citibank card, they tried increase my rate from 13.29% to 29.99%, for no reason. I told them to cancel it and I dont want a credit card company that tries to cheat their customers.