Citibank rate hike 9.9% to 24.74%
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Posted by anon
(24.96.52.210) on October 15, 2002 at 23:14:49:
Help! I was unable to pay a MBNA Visa 4-02 thru 6-02 due to a family illness. They put me on a balance reduction program and I faithfully sent them 10% of my $12,000 balance over 7-02 thru 9-02. They reported my account past due each month and Citibank picked up on it and raised my rate from 9.9% to 24.74%. They tell me it is in my card holder agreement that if I'm late with any creditor they may raise my rate. This is the thanks I get for paying them on time and having their card since 1988. I cannot pay this interest on a $16,000 balance + my other debt as well. I have some assets but nothing liquid. Any suggestions?
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