Credit card -- Fees or interest -- Complaint #18331383
Complaint Overview
Complaint ID: 18331383
Company: Citibank, N.A.
Product: Credit card
Sub-Product: Store credit card
Issue: Fees or interest
Sub-Issue: Unexpected increase in interest rate
State: Tennessee
ZIP Code: 37013
Date Received: 2025-12-28T12:00:00-05:00
Date Sent to Company: 2025-12-28T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX, I purchased a XXXX XXXX phone from Best Buy for approximately {$1300.00} and opened a My Best Buy credit card issued by Citi XXXX XXXX at the time of purchase. I was told the purchase would have 0 % interest, and I made monthly payments of {$50.00} consistently for the duration of the promotion. At no point during the application or purchase process was I verbally informed that this was a deferred-interest promotion, nor was I told that paying {$50.00} per month would be insufficient to avoid interest. I was not clearly informed that I needed to pay a specific amount each month or pay the full balance by a specific date to avoid interest being added retroactively. In XX/XX/XXXX, after the promotional period ended, I discovered that approximately {$940.00} in deferred interest had been added to my account, leaving an unexpected remaining balance of around {$890.00}. This came as a shock, as I believed I was on track to complete payment for the phone based on the information provided at the time of sale. When I contacted Citi XXXX XXXX, I was informed that the promotional expiration and payment requirements were included in monthly statements. However, the critical nature of deferred interest and the consequences of not paying the full balance were never clearly explained or verbally disclosed when the account was opened. I relied on the information given to me at the time of purchase and acted in good faith by making consistent monthly payments. I believe this situation reflects inadequate disclosure and a lack of clear explanation of deferred-interest terms, which led to significant and unexpected financial harm. I am requesting a review and adjustment of the deferred interest charges, including full or partial removal of the interest assessed, as a goodwill or courtesy adjustment.
Frequently Asked Questions
What is Complaint #18331383 about?
Complaint #18331383 was filed against Citibank, N.A. regarding Credit card specifically about Fees or interest. It was received by the CFPB on 2025-12-28T12:00:00-05:00.
How did Citibank, N.A. respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Credit card) and describe your issue in detail.
Can I see other complaints against Citibank, N.A.?
Yes, visit the Citibank, N.A. company profile at readthecomplaint.com/company/citibank-n-a to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.