That's a good question. I'm not sure what is the right answer to your question. I'll do some research in Google and get back to you if I find an answer. You should email the people at Lending Tree as they probably can answer it..

Nope.. I got two change of terms notices but the only thing that changes is how they calculate the minimum payment due..

It's pretty goofy actually. The minimum due will be:.

First, any amount that is past due plus any amount in excess of your credit line. Second, we add $5 if any annual percentage rate imposed on your account exceeds 19.99%. Third we add the largest of the following:.

- The amount of your billed finance charges.

- The new balance on the billing statement if it is less than $20.

- $20 if the new balance is at least $20 and not greater than $960; or.

- 1/48 of the new balance if the new balance excceeds $960.

If no annual percentage rate imposed on your account exceeds 19.99% and the largest of the above calculations is the amount of your billed finance charges, we add $5 to the calculation of the minimum amount due. However the minimum amount due will never exceed your new balance..

Is that the weirdest thing ever, or what????..

I got the same thing DaveLV got last week...

I GOT THAT TOO~~~.

I LIKE THAT EXTRA $5.00 BIT!!!..

Got it too..

I PFB'd Citi and got Prime + 2.9% about 8-10 months ago. Now I just got this "change in terms" memo in the mail that reprices the account to prime + 5.9(?) or 10.74%, along with the new calculations for the minimum payment..

I guess it's time for this card to join my other Citi account (Citi.You) in the SOCK DRAWER. Both are now 10.74% and I plan to use them only for BT promos..

Too bad it's a 17.5k CL and my oldest tradeline, otherwise I'd indicate non-acceptance and let them close the account...

I got the same thing too from citibank but no interest rate change.I was wondering if some gets their interest raised some, could it be that citibank is doing an AR at the same time to assess a person's credit risk,and include it with the change in terms?Atleast it sounds like it too me from a few of your posts.I have had my citibank card for amost 2 years now,and my purchase rate have remain the same...

Citibank will change your rate if you are not a profitable customer for them. You can call them up and ask them, some of the CSR's will be quite blunt and honest..

I charge about $1000-2000/month on my card and carry a decent balance on my BT for life. Every now and then I yank their chain by paying off the entire balance or BT'ing over to another card to remind them how good the pudding is ;)..

I've gotten a couple of notices lately: Chase, MBNA, DMB (I think), and now Citi. I got the one yesterday for the Plat Select. Current rate is 7.99; new rate will be 11.74%. The card hasn't been used much since last October, but I'm paying off a balance. I have a Universal card also, at 6.65%. I suppose that notice is on it's way....

Chase really ticked me off. I was paying 3.99 for life, and they offered 0% for a year with an increase. I took them up on it in July, now they hit me with 19.99% when the promo expires. Don't think I'll be paying that :-)..

Universal stmt just arrived, wife's APR changed from 6.65 to 9.74 with no notice sent in advance, only way I found it was to look at the APR section of stmt, and saw it changed from last month's APR..

Time to call and bitch or cancel I guess. Wife has always had spotless credit with all scores 760+. They can't get away with this with her!..

Richard could you e-mail me the letter you used to pfb citibank about the rate?.



Also, saar... when I called retention yesterday, she said you MUST call cs first and then CS said "we can only send you to retention if you plan on closing the acct after the call they will automatically close your acct".

Thanks..

Wife called Universal/Citi tonight about increase in APR from 6.65 to 9.74. They said it was due to the fact that Citi was losing money from the poor economy (yep, they actually told her that) and they had to get more money where they could, from the good cardholders..

They went on to say that they had been generous in the past by offering lower APR's but that their new business model needed to bring everyone that had lower APR's back "in-line" with their current APR offerings (9-11%). The supervisor said that they had or would be repricing 30 million Citi accounts..

Needless to say they won't budge on APR and she is BT'ing the balance and closing the acct.....

I just received $2500 CLI online. Last time they increased it for $1500 back in July. I also checked my most recent statement- no APR change...still 6.15%...

I've posted my comment on that in the thread where you initially reported it..

Saar..

18004442568 - citibank retention - if you call please report back if they would talk to you.

They wouldnt talk to me - told me call cs first.

Thanks..

I must say I really do love citibank... I called retention again and the guy lowered me from 12.65 to prime + 2.9%.

I guess I am now a prime customer.

I AM SO HAPPY RIGHT NOW..

THEY WILL LOSE EVEN MORE WHEN YOU PAY IT OFF AND EITHER SOCK DRAWER IT, OR PAY IN FULL EVERY MONTH!!!..