Citicards raised their apr without me making late payments or receiving prior notification Columbus Ohio

It's funny. I emailed my story to President Obama. I had to email the story to many other people including Timothy Geithner. Wow senate was having hearings. Congresswoman Maxine Waters asked all CEO's from Credit Cards companies how many of them raised their APR's after receiving bailout monies. Every CEO raised their hands. WOW, we need to pass a law that would forbid Credit Card companies from doing these things to consumers. To date I have received no response for my complaints. However I did call credit card company and told them that I have had my credit card for a long time and that I have never been late and have always paid more than the minimum to that the representative from the bank agreed with me. He said he could lower the APR from 14.99% to 10.99% to which I responded ok, because I felt I had no other choice. The representative told me his credit card companies have done the same thing to him. He also told me that consumers are making up for those who aren't paying on their credit cards. I said isn't that wonderful. So the cost of everything gets passed down to the rest of us who are paying their bills on time. We have to fight this forever folks.

Reply to DK,

I didn't notice your rebuttal until now because Kentucky had a power outage and I had no internet.

According to ABC News, Citi was told by the administration to cancel the order for the jet.

Quote from ABC website,


The high-flying execs at Citigroup caved under pressure from President Obama and decided today to abandon plans for a luxurious new $50 million corporate jet from France...

ABC News has learned that Monday officials of the Obama administration called Citigroup about the company's new $50 million corporate jet and told execs to "fix it." Unquote.

I wonder what would have happened if no pressure was brought to bear on them?
If my facts are wrong blame the media not me.

Yes Citi has been in the process of changing the terms for almost all the cards, for some the change in terms letters started going out in November and for some cards the letters are going out now. The interest is going on Citi's cards and before January 2010 most other companies will be increasing their rates as well. The reason is because over the last 2 years the risk of unsecured debt has increased, ie more people not able to pay, banks lost money on those risks and for the next 5 years or so the costs associated with lending money are higher. Plus Congress is pushing to limit creditor rate changes, so the smart banks are going to increase their rates now before they are prevented from doing so later.

This is all within the standard card agreement and is actually legal.

Yes Citi has been in the process of changing the terms for almost all the cards, for some the change in terms letters started going out in November and for some cards the letters are going out now. The interest is going on Citi's cards and before January 2010 most other companies will be increasing their rates as well. The reason is because over the last 2 years the risk of unsecured debt has increased, ie more people not able to pay, banks lost money on those risks and for the next 5 years or so the costs associated with lending money are higher. Plus Congress is pushing to limit creditor rate changes, so the smart banks are going to increase their rates now before they are prevented from doing so later.

This is all within the standard card agreement and is actually legal.

Yes Citi has been in the process of changing the terms for almost all the cards, for some the change in terms letters started going out in November and for some cards the letters are going out now. The interest is going on Citi's cards and before January 2010 most other companies will be increasing their rates as well. The reason is because over the last 2 years the risk of unsecured debt has increased, ie more people not able to pay, banks lost money on those risks and for the next 5 years or so the costs associated with lending money are higher. Plus Congress is pushing to limit creditor rate changes, so the smart banks are going to increase their rates now before they are prevented from doing so later.

This is all within the standard card agreement and is actually legal.

They can change the APR at their whim, read the small print.

Are you aware of the "credit crunch"? Lenders are freaked out because they are terrified of losing money right now. Thank the shady lenders and people who lied on mortgage applications. Plus the govt is debating passing a limit on APRs, so card companies are trying to get their's while they can. If you have a problem with it, pay off the card and cancel it.

They can change the APR at their whim, read the small print.

Are you aware of the "credit crunch"? Lenders are freaked out because they are terrified of losing money right now. Thank the shady lenders and people who lied on mortgage applications. Plus the govt is debating passing a limit on APRs, so card companies are trying to get their's while they can. If you have a problem with it, pay off the card and cancel it.

They can change the APR at their whim, read the small print.

Are you aware of the "credit crunch"? Lenders are freaked out because they are terrified of losing money right now. Thank the shady lenders and people who lied on mortgage applications. Plus the govt is debating passing a limit on APRs, so card companies are trying to get their's while they can. If you have a problem with it, pay off the card and cancel it.

They can change the APR at their whim, read the small print.

Are you aware of the "credit crunch"? Lenders are freaked out because they are terrified of losing money right now. Thank the shady lenders and people who lied on mortgage applications. Plus the govt is debating passing a limit on APRs, so card companies are trying to get their's while they can. If you have a problem with it, pay off the card and cancel it.

You need to read the articles... they did agree to buy the jet in 2005 but have CANCELLED that deal since getting the money from the Govt. Please get your information correct before posting.

Bailed Out Citigroup Stimulates French Economy By Purchasing $50 Million Corporate Jet

Latest news headlines.

To everyone who reads this posting. Do not think of yourselves as stupid. You are not stupid. We are consumers and as such we have the right to complain when Banks do not treat us right. I for one contacted the following with my complaint. Ombudsman@fdic.gov, NJ Depart of Consumer Affairs, Senator Levin in charge of committee for Banking and Insurance, Senator William Pascrell, BBB.com. I do not care what anyone thinks. These banks are banking on us as consumers not reading our credit card statements. They always claim that they notified you in writing of the changes in terms. But know this it never reached me at all. So the banks are responsible for this inaccuracy. Please do yourself a favor call them back if you can if not contact everyone in your state who will listen to you. We must bombard the internet with emails pertaining to this. The bankrupcy rates will surely escalate if this practice continues. I was told by a customer service representative that we the religious paying consumers are made to pay for those who aren't paying their debts.