Credit card -- Fees or interest -- Complaint #10912739

Complaint Overview

Complaint ID: 10912739

Company: Citibank, N.A.

Product: Credit card

Sub-Product: General-purpose credit card or charge card

Issue: Fees or interest

Sub-Issue: Unexpected increase in interest rate

State: Montana

ZIP Code: 59801

Date Received: 2024-11-23T12:00:00-05:00

Date Sent to Company: 2024-11-23T12:00:00-05:00

Company Response: Closed with explanation

Timely Response: Yes

Consumer Disputed: N/A

Submitted Via: Web

Consumer Narrative

My XX/XX/XXXXXXXX Costco Anywhere Visa Card by Citi statement included a notice that they were making changes to my Annual Percentage Rate ( APR ) from 19.99 % to 23.99 % effective XX/XX/XXXX. They said they had checked my credit score via XXXX on XX/XX/XXXXXXXX and it was XXXX. The explanation they gave for changing the rate was as follows : 1 ) My current APR was lower that what they currently offer consumers with the same score who apply today ( I've had this card for over 3 years ) 2 ) My current credit profile shows the following problems a ) Balances vs limits is too high b ) Most recent account opening is too short c ) Too many accounts with balances d ) Too few accounts currently paid as agreed. Reasons a, b, c & d are all false and untrue. I only have 3 open credit accounts to my name and none have high credit limits -- Costco Citi card is the highest, actually. I'm not sure whose credit score or history they are looking at but it's not mine because non of those reasons applies to my credit or history. I went to my XXXX online account to check my credit score and it is currently XXXX. XXXX also shows the same credit score. It had been at a low of XXXX on XX/XX/XXXXXXXX but it hasn't been below XXXX at any point this year. I can also see that Citibank never pulled a soft or hard credit check through XXXX on XX/XX/XXXX. My account history shows they ( CitiBank ) pulled soft credit checks on XX/XX/XXXXXXXX XXXX XXXX XXXXXX/XX/XXXX and XX/XX/XXXX of this year. There was nothing pulled from XXXX ( as they reference in their letter ) on XX/XX/XXXX. I called the Costco Citibank customer service to ask who I could speak to about the errors they are basing this large increase on and getting it reversed as my payment history with them is stellar. I was told, on two separate phone calls to them, there was ABSOLUTELY NO ONE I can speak to in their organization about changing this rate or reporting the errors they've based these changes on. SERIOUSLY???? I also went to my local Costco location to report this. They can't do a thing but I want them to know that there is potential consumer fraud being committed by CitiBank. I only throw up this red flag because they were adamant ( and I spoke to XXXX different CSRs ) that nothing can be done. I asked for a referral to a " higher up '' or the credit division and they said there wasn't any recourse. Do you understand why I'm not only frustrated but concerned and angry? If they made wholesale changes to the base rates, they should simply say so. I asked that question but was told they can't speak to me about my credit report so it must not be a company wide increase.

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This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.

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