No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
apparently citi sent out 100s of thousands of these notices just recently and quite a few (including me) have already reported success requesting that citi vacate the rj. why not try your luck and ask citi to reverse the rj and preserve the account before considering the opt out option.
i too was strongly considering opting out when i received the citi rj notice a few weeks ago, but luckily they agreed not to rj instead. i just mentioned that i like my card and woud enjoy building my v. good record with citi under the most favorable terms. i was dumbfounded when the account specialist responded that she could stop the rj and instead offered an apr decrease. in other posts, citi responded by reducing the orig. apr and offered a cli.
citi retention dept. back door: 1 (800) 444-2568
@score_building wrote:apparently citi sent out 100s of thousands of these notices just recently and quite a few (including me) have already reported success requesting that citi vacate the rj. why not try your luck and ask citi to reverse the rj and preserve the account before considering the opt out option.
i too was strongly considering opting out when i received the citi rj notice a few weeks ago, but luckily they agreed not to rj instead. i just mentioned that i like my card and woud enjoy building my v. good record with citi under the most favorable terms. i was dumbfounded when the account specialist responded that she could stop the rj and instead offered an apr decrease. in other posts, citi responded by reducing the orig. apr and offered a cli.
citi retention dept. back door: 1 (800) 444-2568
score_building:
I just called that number. I told the representative that I didn't have a good reason to use my Citi Dividend Platinum Select MC: I earn better rewards with Chase Freedom, and my Citi card has the highest APR of all of my major credit cards. He overrode the 16.99% APR ratejack, and I'm keeping my original PRIME + 4.99% APR.
Thank you, score_building!!!
that's really great news psychic, you're welcome and congrats heavan knows they are lucky to have retained someone with your remarkably well established credit record.
i hope the OP has success with citi too. GL!
I just got off the phone with them (great back door number BTW)
They are trained to make you believe there is nothing they can do regarding the Change in Terms Notice, however in my case I asked for an account review for purposes of decreasing my APR and it worked. You need to specifically ask for an account review for a lower APR. Not a change in terms reversal, like others have pointed out.
My APR is still 2 points higher than I started with, but not the 19 percent they were trying to raise it to.
Its my oldest card, issued in 1999 and no lates. Its literaly the conerstone of my credit record. I need to make sure this one stays open.
From a thread I made a couple days ago
My Citi card definitely just went from 11.99% to 18.99% for no reason. Had the card for over 4 years, never late once. APR should be 12.24% according to the website and since its a variable apr which is calculated by 8.99% + prime (3.25% at the moment) so I definitely wrote them an email to customer service complaining and asked for it to be lowered to at least the 12.24%
Reply message from Citi, same response when I called
Our records indicate your interest rate increased due to a change in your account terms. You were sent notification of the change in terms in November. If you do not wish to accept the new terms, please reply to this message.
Our recent actions are based on the significant changes in the financial markets. Our costs in borrowing money we lend to customers have gone up significantly and we are seeing dramatically higher loan losses and delinquencies for many of our customers. In managing to these significantly dramatic changes we must increase some of the prices we charge to customers.
Thank you for using our website.
Anyone who gets one of those notices really needs to call.
I was one of those that got a Citibank ratejack notice back in November saying my APR was going to go from 14.99 to 19.99%. I called them up (at the number on the back of the card, surprisingy) and asked about getting my interest lowered. Without any problem they brought me down to 8.99% + prime - which at the time would be 12.99%.....then I ended up with a CLI which I didn't ask for a couple days later from them. When my statement cut in December I was down to 12.24%.
But it's strange as I've been reading others stories on calling and it seems like some are being told "that's the way it is, there's nothing we can do" and some are having success. It might depend on who you get on the other end.
I just feel sorry for those who won't bother calling and take it as face value.
mark925 wrote:Anyone who gets one of those notices really needs to call.
I was one of those that got a Citibank ratejack notice back in November saying my APR was going to go from 14.99 to 19.99%. I called them up (at the number on the back of the card, surprisingy) and asked about getting my interest lowered. Without any problem they brought me down to 8.99% + prime - which at the time would be 12.99%.....then I ended up with a CLI which I didn't ask for a couple days later from them. When my statement cut in December I was down to 12.24%.
Prime rate dropped from 4 to 3.25 on December 16th. Yay!
Congrats on getting the orig RJ reduced! And welcome to the fora!