Citibank, I look forward to parting ways!

November 2, 2009 at 12:22 pm (credit cards) (, )

I recently heard that Citibank, in preparation of the upcoming consumer credit protection bill being enacted in February, raised rates significantly, to 30%, for some of its customers. Yet another reason I’m glad to be closing my account with them!

You’ll remember my post last winter, when they sent me a notice of increasing rates. I could choose to opt out, but they would close my card at the date of expiration and I would have to pay off the balance at that time. As a long-time customer of 18 years, I did open it in college after all and it was my first credit card, this is how they repay my loyalty? Well screw them, I said at the time. This just makes me extra glad that I’m going to get rid of the card next year.

Oh, I plan on closing it myself iin advance of that date, which will be much better for my credit score. But it makes my poor, little consumer heart glad to give them the old heave-ho. I don’t carry a balance, and always pay them in full 100% and have for the last year.

I can’t wait until my debts are paid off. I can tell you I don’t plan on using credit cards much anymore!!

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