I've noticed on threads the mention of apr's being raised but for the most part no reason was given by the member. i understand that if your late with Citi 1 day they can bump the rate up? What other reasons would allow CITI to increase your rates?
Tommyy, They can do an A/R and see you may be in trouble with other cards {either late pays or a high debt/cl ratio} and decide to price in additional risk on your account.
With me, I had a paid collection for $50 put on my credit repots (it was not mine, but that does not matter). Citi bumped my rate to 24.99%. When the bogus collection was removed, they did not lower the rate. Tomorrow I am making a very large payment on my Citi, then asking them to reduce the rate. Then I am applying for another two Citi cards.
This happens due to sloppy credit reporting chalk full of errors and the rigged shell game F I C O Profitability factor taking advantage of the endless stream of errors . BTW/ this is not a CITI exclusive as the opportunity to gouge you under the system is open to all.
1/How does it matter ? a-You are getting charged for Intrest you don't owe. b-You have a fake Fico score. c- You have a false credit report. 2/I would not pay the increased rate .
