@Anonymous wrote:ihcole, how low were you able to get CitiAAdvantage? I'm at 13% on my AAdvantage now but I want to be like you when I grow up with an even lower AAdvantage APR.
I'm also at 13 with them. That's the lowest they'll go with me for now. But my SDFCU and Amex revolvers are in the 7-8 club, one in the 9.
When my AA was approved it was super high. I got them to knock it down four days in a row. That was fun. Online chat = 
@Anonymous wrote:
@Anonymous wrote:The maximum APR Citi lists for the Double Cash isn't 28%. Chances are the OP is paying a penalty APR which is regulated by the CARD Act, which is the law.
Citi's terms and conditions are fluid enough where they can determine the APR. I wouldn't assume otherwise since you don't know the OP"s profile nor Citi's end of things.
Since the card was PC'd from a different card, other terms may be applicable as well once the PC was enacted.
The OP should not even worry about the APR on this card since as he mentioned, he has other cards with low APR if he wishes to carry a balance. Someone really shouldn't be carrying a balance on a rewards card, anyway, for the reasons that everyone previously mentioned.
There isn't one card in Citi's portfolio with a 28% APR. Their maximum is 23.24% when you apply.
When you PC a card, the terms change from what the old card had to what the new card has... When I PC'd from a TYPref to a Double Cash, I received a late fee waiver.
I do agree that a balance shouldn't be carried on a rewards card, but cows don't fly either.
@lhcole77 wrote:
@Anonymous wrote:ihcole, how low were you able to get CitiAAdvantage? I'm at 13% on my AAdvantage now but I want to be like you when I grow up with an even lower AAdvantage APR.
I'm also at 13 with them. That's the lowest they'll go with me for now. But my SDFCU and Amex revolvers are in the 7-8 club, one in the 9.
When my AA was approved it was super high. I got them to knock it down four days in a row. That was fun. Online chat =
Say it isn't so, ihcole! You were my APR-lowering hero and I had hopes for lower. 
I have some cards in the 8% range as well, but had hopes to get AAdvantage down even further (perhaps to 11% or 12%) based upon your excellent example. I think I remembered reading of someone getting it down to 12, even though that is below the published rates.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:The maximum APR Citi lists for the Double Cash isn't 28%. Chances are the OP is paying a penalty APR which is regulated by the CARD Act, which is the law.
Citi's terms and conditions are fluid enough where they can determine the APR. I wouldn't assume otherwise since you don't know the OP"s profile nor Citi's end of things.
Since the card was PC'd from a different card, other terms may be applicable as well once the PC was enacted.
The OP should not even worry about the APR on this card since as he mentioned, he has other cards with low APR if he wishes to carry a balance. Someone really shouldn't be carrying a balance on a rewards card, anyway, for the reasons that everyone previously mentioned.
There isn't one card in Citi's portfolio with a 28% APR. Their maximum is 23.24% when you apply.
When you PC a card, the terms change from what the old card had to what the new card has... When I PC'd from a TYPref to a Double Cash, I received a late fee waiver.
I do agree that a balance shouldn't be carried on a rewards card, but cows don't fly either.
Regardless of what other cards are out there, Citi can make its rules and the OP won't win against a big bank. 
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:The maximum APR Citi lists for the Double Cash isn't 28%. Chances are the OP is paying a penalty APR which is regulated by the CARD Act, which is the law.
Citi's terms and conditions are fluid enough where they can determine the APR. I wouldn't assume otherwise since you don't know the OP"s profile nor Citi's end of things.
Since the card was PC'd from a different card, other terms may be applicable as well once the PC was enacted.
The OP should not even worry about the APR on this card since as he mentioned, he has other cards with low APR if he wishes to carry a balance. Someone really shouldn't be carrying a balance on a rewards card, anyway, for the reasons that everyone previously mentioned.
There isn't one card in Citi's portfolio with a 28% APR. Their maximum is 23.24% when you apply.
When you PC a card, the terms change from what the old card had to what the new card has... When I PC'd from a TYPref to a Double Cash, I received a late fee waiver.
I do agree that a balance shouldn't be carried on a rewards card, but cows don't fly either.
Regardless of what other cards are out there, Citi can make its rules and the OP won't win against a big bank.
People can and do win (and some lose!) against Citi in Small Claims Court, when cases have been brought against them related to MS. But in this case, I would
a) as humuhumunukunukuapuaa said, see if that APR is marked as a penalty APR. I can imagine that it isn't, just transferred from the old card. Now there it probably was a penalty rate, at least at some point, so there might still be something actionable
b) Verify you met the "reset" conditions of the CARD Act, 6 consecutive months of on-time at least minimum payments, starting immediately after the rate hike (there needs to be a review every 6 months, so if you don't start on time, you could have a year of penalty APR)
If both conditions are met, there could be a CARD Act violation, and now that CFPB admiinisters the CARD Act, submit a complaint to them, and they can take on Citi. If CFPB sides with you, your APR will be reset, and you may get some money back (or have to go to SCC to get that)
And probably do it soon, as if there is a "Change in Control" after the Nov elections, I don't know the future of the CFPB!
@Turbobuick wrote:Whether its 8% or 28, you won't pay it if you don't carry a balance. Yes, they can be stubborn. You can cancel the card and reapply or beat them at their game and pay in full each month. The whole purpose of a rebate card is to earn money back which is quickly negated with any interest payment. If you absolutely must carry a balance get a lower interest non-rebate card.
Meh They have been generous in lowing my APR on my Citi AAdvantage to 13.49%. Granted they won't lower my Citi TY premier which is still at 23.49% but meh I have 11.99% cards and atm my Amex Hilton is giving me a promo 6.99% for a year. Also my costco card has a 0.00% promo until March 2017.
@Anonymous wrote:
@kdm31091 wrote:Unfortunately sometimes when your penalty APR gets applied, the account gets "stuck" and despite the passage of time the APR will not be lowered.
Since the point of the card is the 2% rewards and not financing purchases, just use it for the rewards and resign yourself to not pay interest. I know the 28% APR feels like an insult, but you can beat Citi at their game by just never paying them the interest. Even if the rate were 9.5% it would not make sense to regularly revolve a balance because it wipes out any gains you get.
If it really bothers you, you can close it -- you mentioned SD'ing for AAOA purposes -- keep in mind the account remains on your report for 10 years after closure so your AAOA won't be impacted either way for quite a long time.
Not sure why Citi thinks they can get around the CARD Act.
Penalty APR's should only be applied for a maximum six months if you're 60 days or more late.
Actually they really aren't getting around it.... All cards state they can enforce the penalty APR on you if you have A) one late payment or B) a return payment . They also don't state IF or when they will lower it...
@Anonymous wrote:
@beautifulblaquepearl wrote:There's a lot of good information in this thread. Thanks OP for sharing your story. I would look into the CARD Act like someone else mentioned to see if Citi is in violation. If you find they are not, you have a decision to make sock drawer or close and reapply. Personally, I wouldn't let a high APR prevent me from earning the 2% cash back, but I do understand your frustration with the situation. Best of luck!
If Citi is in violation of the CARD Act, the OP should have the grounds to sue Citi for all of the extra interest charges accumulated after the 1st six months of when the raised APR took effect, plus court fees and other costs.
Lol A) they aren't and B) good luck ... the lawyer fees alone will probably put you into bankrupcy should you follow that path.
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:The maximum APR Citi lists for the Double Cash isn't 28%. Chances are the OP is paying a penalty APR which is regulated by the CARD Act, which is the law.
Citi's terms and conditions are fluid enough where they can determine the APR. I wouldn't assume otherwise since you don't know the OP"s profile nor Citi's end of things.
Since the card was PC'd from a different card, other terms may be applicable as well once the PC was enacted.
The OP should not even worry about the APR on this card since as he mentioned, he has other cards with low APR if he wishes to carry a balance. Someone really shouldn't be carrying a balance on a rewards card, anyway, for the reasons that everyone previously mentioned.
There isn't one card in Citi's portfolio with a 28% APR. Their maximum is 23.24% when you apply.
When you PC a card, the terms change from what the old card had to what the new card has... When I PC'd from a TYPref to a Double Cash, I received a late fee waiver.
I do agree that a balance shouldn't be carried on a rewards card, but cows don't fly either.
Regardless of what other cards are out there, Citi can make its rules and the OP won't win against a big bank.
People can and do win (and some lose!) against Citi in Small Claims Court, when cases have been brought against them related to MS. But in this case, I would
a) as humuhumunukunukuapuaa said, see if that APR is marked as a penalty APR. I can imagine that it isn't, just transferred from the old card. Now there it probably was a penalty rate, at least at some point, so there might still be something actionable
b) Verify you met the "reset" conditions of the CARD Act, 6 consecutive months of on-time at least minimum payments, starting immediately after the rate hike (there needs to be a review every 6 months, so if you don't start on time, you could have a year of penalty APR)
If both conditions are met, there could be a CARD Act violation, and now that CFPB admiinisters the CARD Act, submit a complaint to them, and they can take on Citi. If CFPB sides with you, your APR will be reset, and you may get some money back (or have to go to SCC to get that)
And probably do it soon, as if there is a "Change in Control" after the Nov elections, I don't know the future of the CFPB!
Eh if this ends up in small claims and stays there... I also wouldn't bother.... either just close it or deal with imho ... not worth the trouble.