Reply
Regular Contributor
Posts: 205
Registered: ‎04-17-2008
0

New Citi rates kicked in...

Received a notice in December 2009 from Citi regarding my AAdvantage AMEX card that the APR would increase from 14.99% to 20.99% starting at my February 2010 billing cycle. Glad I pay in full each month.

 

However, I did call them to ask about a 'product change'...I wanted to convert the AAdvantage AMEX to the AAdvantage Mastercard for no other reason than the AMEX card isn't as widely accepted when I travel overseas. I was told that due to the new 'credit card rules and regs' from our imperial federal government, Citi will no longer offer a 'product change' from its current customers. The CSR said the only way to get the card I wanted to 'switch' to is to apply for the new card. I wasn't buying it so I said 'thanks but no thanks'....with FICO scores hovering in the 720's, I don't think I'd qualify for a new card so why waste the hard pull?

Highlighted
Valued Contributor
Posts: 1,413
Registered: ‎04-18-2008
0

Re: New Citi rates kicked in...

[ Edited ]

IrishPM wrote:

Received a notice in December 2009 from Citi regarding my AAdvantage AMEX card that the APR would increase from 14.99% to 20.99% starting at my February 2010 billing cycle. Glad I pay in full each month.

 

However, I did call them to ask about a 'product change'...I wanted to convert the AAdvantage AMEX to the AAdvantage Mastercard for no other reason than the AMEX card isn't as widely accepted when I travel overseas. I was told that due to the new 'credit card rules and regs' from our imperial federal government, Citi will no longer offer a 'product change' from its current customers. The CSR said the only way to get the card I wanted to 'switch' to is to apply for the new card. I wasn't buying it so I said 'thanks but no thanks'....with FICO scores hovering in the 720's, I don't think I'd qualify for a new card so why waste the hard pull?


That part is interesting. Considering those phone reps are still in sales, applying for a new card adds to their goals. I had something similar pulled on me with FIA; I called a few years back asking for a rate reduction because my scores in no way justified the 16% I was paying so they insisted I apply for a BoA card and transfer the balance. Not thinking about it at the time, I app'd and they got another card out of me Smiley Indifferent As for Citi, it seems that you'll get a different answer from each CSR. There are threads indicating customers having issues or being denied product changes because they no longer did them (meanwhile, I completed one). Foolishness!

 

 

Message Edited by MrShush on 02-16-2010 08:49 AM
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.