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Moderator Emeritus
llecs
Posts: 32,880
Registered: ‎08-04-2007

Yay! for AA

Adding our story to the masses out there. DW received a ratejack on her Citi Platinum Select. It went from 10.24% (her lowest at the time) to 29.99%. Basically the rate went from being the best to the worst. Never ever never late. PIF every 4-6 months; used every 2-3 months. And cleaner CRs than when she opened the account (FICO up 60-100 pts depending on the CRA).

 

This wasn't a surprise, as we knew it could come one day, but we should be keeping $0 reported anyway. I can see how frustrating it is if someone goes through this. I can see a scenario whereby someone does a BT into a lower rate card, like in my example, and then gets hit with this. We usually don't read our statements like we should, but these buried rate changes can sure catch someone by surprise. We were hit with the ratejack back in late November but just noticed it with January's statement. DW wanted to call and protest. I told her to get in line.

Senior Contributor
score_building
Posts: 3,509
Registered: ‎01-10-2008

Re: Yay! for AA


llecs wrote:

Adding our story to the masses out there. DW received a ratejack on her Citi Platinum Select. It went from 10.24% (her lowest at the time) to 29.99%. Basically the rate went from being the best to the worst. Never ever never late. PIF every 4-6 months; used every 2-3 months. And cleaner CRs than when she opened the account (FICO up 60-100 pts depending on the CRA).

 

This wasn't a surprise, as we knew it could come one day, but we should be keeping $0 reported anyway. I can see how frustrating it is if someone goes through this. I can see a scenario whereby someone does a BT into a lower rate card, like in my example, and then gets hit with this. We usually don't read our statements like we should, but these buried rate changes can sure catch someone by surprise. We were hit with the ratejack back in late November but just noticed it with January's statement. DW wanted to call and protest. I told her to get in line.


I received the notice in the mail a while back and the current APR is also listed right on the main page when you log in.  I got the same RJ from 10 to 29.  my sense is that unless you can't PIF or BT there is probably no utility in calling, they like imposing a default rate on paying customers, no shame whatsoever.  Unreal.  I want some interest payments on TARP money --29.99 perhaps :smileytongue:

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)
Senior Contributor
creditwherecreditisdue
Posts: 4,923
Registered: ‎04-19-2009

Re: Yay! for AA

Arg and arg. Sorry both!

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