Credit card or prepaid card -- Problem when making payments -- Complaint #4979750
Complaint Overview
Complaint ID: 4979750
Company: Citibank, N.A.
Product: Credit card or prepaid card
Sub-Product: General-purpose credit card or charge card
Issue: Problem when making payments
Sub-Issue: Problem during payment process
State: New York
ZIP Code: 14609
Date Received: 2021-12-06T12:00:00-05:00
Date Sent to Company: 2021-12-06T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
In XXXX or XXXX of XXXX I opened a new credit card account and took advantage of a balance transfer promotion. I paid a fee of {$91.00} to transfer a balance of {$3000.00}. The promotional rate given was 0 % until XX/XX/XXXX. I also made additional purchases on the card totaling {$2100.00} which also had a promotional rate of 0 % until XX/XX/XXXX. In XX/XX/XXXX I took advantage of another offer on the same account and borrowed {$4800.00} on a Flex plan@ 8.99 % with a fiver year term. I've been making extra payments so the balance transfer and additional purchases will be paid off before the 0 % promotional rate expires in XX/XX/XXXX but the credit card company is applying the extra payments to the Flex loan because it has a higher interest rate ( 8.99 % versus 0 % ). This means that while I'm saving the 8.99 % interest on about {$4500.00} now, beginning in XXXX I'll be paying about 25 % interest on about {$2700.00}. Saving roughly $ 22/month now is going to cost me about $ 56/month next summer! I was told by the credit card company that the system can not be over-ridden to apply the extra payments to the promotional balance rather than the Flex balance. This is a poor excuse since other credit card companies offer the account holder the choice of how to allocate payments. ( I can do that on my XXXX credit card for example. )
Frequently Asked Questions
What is Complaint #4979750 about?
Complaint #4979750 was filed against Citibank, N.A. regarding Credit card or prepaid card specifically about Problem when making payments. It was received by the CFPB on 2021-12-06T12:00:00-05:00.
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 or prepaid 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.