Citi Bank Raised interest rate because payment was late 1 time SIOX Falls South Dakota

Unfortunately, that's why you sign a contract agreeing to the terms and conditions of having them loan you money. I'm willing to bet your contract does not state that they will keep your interest low even if you miss a payment. "We'll give you one strike, but after that we'll have to charge ya." Everyone would have credit cards then. If you'd rather not have the bill, maybe you should save your cash and pay for things when you can afford them. It's called living within your means. The only reason anyone should ahve a credit card is for renting a car, only becuase it's required, and then you can just use your debit card just the same. Read the terms and conditions of the contract the next time you sign one. I'm sure you'd have the same problem if you had a contract with a friend of yours and he missed a payment. You'd be all over it trying to get the money.