Credit card or prepaid card -- Problem when making payments -- Complaint #6195329
Complaint Overview
Complaint ID: 6195329
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: District of Columbia
ZIP Code: 200XX
Date Received: 2022-11-12T12:00:00-05:00
Date Sent to Company: 2022-11-12T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
This involves a general-purpose Citibank credit card. I pay my statement in full on the due date every month and so am never charged interest on my credit-card purchases. I recently took out a " Citi flex loan, '' which carries a XX/XX/XXXX interest rate and must be paid back monthly over a number of years. The loan balance is added to your outstanding credit-card balance. I tried to make an extra payment to the flex loan, above the minimum payment required, to reduce the interest that I will pay, but Citibank says that any extra payment must first go to outstanding credit-card purchases because those carry a higher interest rate. But my next credit-card statement is not due for XXXX more weeks, so I am not being charged any interest on those credit-card purchases until then ( and will never be charged any interest, since I always pay my statement in full ). I am, on the other hand, being charged interest on the flex loan. It is very misleading and unfair to say that an extra payment must go to the credit-card purchases -- supposedly because they carry a higher rate -- when that rate is not being charged because the statement is not yet due. And there should be a way for Citibank to apply an extra payment the way the consumer asks them to -- in this case to the loan that is currently charging interest rather than the credit-card purchases, which are not accumulating any interest. Instead, Citibank pretends like it is acting in the consumer 's best interest by applying an extra payment to the " higher interest '' credit-card purchases, when in fact by doing so Citibank continues to earn interest that it should not on the flex loan.
Frequently Asked Questions
What is Complaint #6195329 about?
Complaint #6195329 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 2022-11-12T12:00:00-05:00.
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.