Got a CitiBank Credit Card? Watch out - snakes are on the slither!

**Greebo** · 11-20-2009, 11:27 AM

http://news.yahoo.com/s/ap/20091120/...nding_required

Customers holding Citibank cards will be required to spend a minimum amount per month on their card, OR ELSE. Some customers will face minimums as high as $750/month.

SNAAAKES! RUN!

**Russ** · 11-20-2009, 11:36 AM

I have a better name for them but I like this forum and don't want to be booted.

**Dixie** · 11-20-2009, 12:15 PM

I guess I'll be opting out of my Citibank cards. Thanks for the warning, Greebo.

**NikoSan999** · 11-20-2009, 12:43 PM

They raised our rates months ago. Called them and they lowered as long as made on time,. This could change things, maybe not. If they do then they quit being paid. Period. Tired of dealing with them and the others. I'm just tired period

**frugalfranny** · 11-20-2009, 12:56 PM

And bet we see more of this type of thing before the dirt 'all shakes out'........

I do hope people will keep posting about the changes they get; as this keeps the rest of us on our toes to 'watch for the snakes' that might be coming our way!!

I will be canceling any card that makes changes that I don't like.

I STILL think, in the end, some smart (credit card) business will come in and figure out that they don't need to be quite so greedy and offer cards with no annual fee, no minimum purchase, etc. But you will have to have excellent credit to get it. Anyone remember, years ago, way before all the credit crap started going on........how hard it 'used to be' to get a Sears card?

**frugalwarrior2** · 11-20-2009, 12:58 PM

citibank is our gas card switched over from exxon/mobil when they got out of the CC business so it will be interesting.

My other CC's (2) just anounced they will go to 20.99% and 19.99% effective Jan. I guess I just got a self-control boost. I have personally paid those rates. Disappointed I just overstocked groceries to cut back on that bill now Iwill have to use it to pay extra (already paying it down) to make up the interest diff. but also use it occasionally (and send the payment right away) to keep non-use charges away. Too much work.
Thanks for the heads up on the other CC charges.

**madhen** · 11-20-2009, 12:59 PM

I just sent my final payment to my Citibank card a few days ago. As soon as the statement arrives, showing zero balance, I will be cancelling it. I started with FIVE cc's, and I've been cancelling one per year. This is Citibank's year.

That will leave me with two cards, and the bell is tolling for one of those!

**Greebo** · 11-20-2009, 01:02 PM

Originally Posted by frugalwarrior2

citibank is our gas card switched over from exxon/mobil when they got out of the CC business so it will be interesting.

My other CC's (2) just anounced they will go to 20.99% and 19.99% effective Jan. I guess I just got a self-control boost. I have personally paid those rates. Disappointed I just overstocked groceries to cut back on that bill now Iwill have to use it to pay extra (already paying it down) to make up the interest diff. but also use it occasionally (and send the payment right away) to keep non-use charges away. Too much work.
Thanks for the heads up on the other CC charges.

If you close the account now, it should freeze the rate and as long as you don't miss any payments, you shouldn't experience any new fees, I believe.

**frugalwarrior2** · 11-20-2009, 01:12 PM

My thought is to close one immediately. I want to keep one temp. for emergencies because my DH will be traveling to Camen Islands and Bermauda before xmas. He may also have to go to Zurich and Hong Kong in Jan. He is handicapped from a serious accident he had 5 years ago. I always worry I may need emergency tickets because of his health.
While we have been after our debt we still have a ways to go. I am still paying on the accident due to quick shuffling I have to do to revamp the house due to his needs then.
Even though xmas was going to be cash I think it just got smaller. I really am tired of all the "goodies" and the mess and stress anyway.

**wunsagin** · 11-20-2009, 01:23 PM

Not any more. We had two accounts with them, paid them both off when we got a letter that our rate was being raised to 25.99%.

We have perfect credit. Flawless.

Dh cancelled them last week, before he hung up they offered him 3% until 2011.

He pretty much told them they were snakes and he refused to do business with such a "low-life, shady, questionable company."