Whats up Citibank?

[Anonymous]

My APR is whats up and been up there for a since I had the card for 8 years or so.

Sitting at 22%, I applied for the card way back doing a balance transfer which helped

out to knock down cards. After it was paid off after 18 months @ 0% I put the card

on the idle. Maybe a few purchases here there nothing special. I called in for a APR drop

and they always tell me to call back in 6 months.

Ok, enough with that run around so I decided not to use it but keep active just for kicks.

I cleared up another round of debt last year. Scores then and now remain in mid 800's.

The other day I tried calling again, no go. Wont budge?!

Why are they doing this? Do I have to use their card more? To get "noticed"

[UpperNwGuy]

My experience with Citi a few years ago was that they kept the interest rate high when my overall utilization rate was high (across all cards, not just Citi cards).  Once I paid down my balances, Citi lowered my rate without my asking.  What's your overall utilization rate?

[Anonymous]

<1%

Cards are done. When used, paid immediately. I went through

alot in debt and seen I could have bought alot of things and watched

how they can make my money. Not no more.

Maybe i just leave it be and keep it active sometimes. Since last september

I have paid no interest and use my cards all the time and pay them off each week.

At the same token, I get balance transfer offers from Citi... I have no CC debt?!

Wifey on the otherhand doesnt listen and learn and no way in H is she using my cards.

LOL... anyways. Citi is bunk.

[Brian_Earl_Spilner]

I just read an interesting article about Citi and APR reductions. I'm about to hit up all my creditors as my score has gone up quite a bit in the last 9 months.

https://www.marketwatch.com/amp/story/guid/26313358-7BD0-11E8-8CC8-F9F80D1E3EC0

[Anonymous]

No Surprise

"The Act requires credit-card issuers to review and reevaluate APRs at least once every six months

and reduce them accordingly if the consumer has changed in certain ways, such as

if their credit score has improved."

Bottom line... Citi violated the Truth in Lending Act and got caught.
Who's next?

Better yet, a Chase card we have randomly denies usage on us.
That it... "Doesnt follow our spending pattern or our ways"... really?
Only emergencies they wont deny. Beat that, what happens when getting
a toilet then? Do I come your house to do #2?
That card can be put in their pipe or elsewheres and smoke it.
They too give the run around on APR reduction.

I feel im in pretty good w/ Discover though. No problems what so ever.

 

[Anonymous]

I had a similar issue. I got tired of reading all of these "Citi lowered my APR-third day in a row!!" postings here so I tried on all three of my CItibank cards (ranging from nearly 20 to over 18 years in age) with no luck whatsoever. The CSR's would only tell me that there were no offers currently on my cards.

Last year I received an unlreated survey invitation on my oldest Citibank account, my Diamond Preferred. Well I crucified them. As it turns out, Citibank actually reads those surveys because someone from their EO called me about my answers. After telling them my laundry list of reasons why I really do not care for them, she offered me an APR reduction on the Diamond Preferred card to, at the time, 8.99% V. That made me happy. Thanks to the Prime Rate increases it is now at 9.49% but still good. They still wont budge on my DIvidend or Thankyou Preferred-but then I rarely use any of my Citibank accounts.

TL;DR Citibank most likely wants to see more usage on your card. They figure if you are not using your account the APR is irrelevant. So if you want a better chance at an APR reduction with Citibank, use your card regularly for a few months and try again. 

[Anonymous]

---

@Anonymous wrote:

I had a similar issue. I got tired of reading all of these "Citi lowered my APR-third day in a row!!" postings here so I tried on all three of my CItibank cards (ranging from nearly 20 to over 18 years in age) with no luck whatsoever. The CSR's would only tell me that there were no offers currently on my cards.

Last year I received an unlreated survey invitation on my oldest Citibank account, my Diamond Preferred. Well I crucified them. As it turns out, Citibank actually reads those surveys because someone from their EO called me about my answers. After telling them my laundry list of reasons why I really do not care for them, she offered me an APR reduction on the Diamond Preferred card to, at the time, 8.99% V. That made me happy. Thanks to the Prime Rate increases it is now at 9.49% but still good. They still wont budge on my DIvidend or Thankyou Preferred-but then I rarely use any of my Citibank accounts.

TL;DR Citibank most likely wants to see more usage on your card. They figure if you are not using your account the APR is irrelevant. So if you want a better chance at an APR reduction with Citibank, use your card regularly for a few months and try again. 

---

Glad you posted your experiences. Seems they feel the same way about me. Also, like you I am not a big Citi Card user so it is tough for me to justify Apr reductions. But ... it would be nice (for my mind only as I don't carry balances). They stopped offering me BTs which is fine as I have other sources that give me no hassles. On the side, seems being in the 800s for FICO Scores around five years seem not to matter (interesting).

[Anonymous]

---

@Anonymous wrote:

No Surprise

"The Act requires credit-card issuers to review and reevaluate APRs at least once every six months

and reduce them accordingly if the consumer has changed in certain ways, such as

if their credit score has improved."

Bottom line... Citi violated the Truth in Lending Act and got caught.
Who's next?

Better yet, a Chase card we have randomly denies usage on us.
That it... "Doesnt follow our spending pattern or our ways"... really?
Only emergencies they wont deny. Beat that, what happens when getting
a toilet then? Do I come your house to do #2?
That card can be put in their pipe or elsewheres and smoke it.
They too give the run around on APR reduction.

I feel im in pretty good w/ Discover though. No problems what so ever.

 

---

I've done business with many banks and only one of them has willingly lowered my APR without me asking --- my local credit union that's too small to be well-known here, and my credit has been up and down significantly over the years. 

That section of law is stupid. I can understand an issuer being required to reduce the interest rate back to "normal" after six months on on-time payments if a late payment triggered the penalty APR, but I do not see how the government can force a business to charge less for someone carrying a balance if they don't want to, regardless of how poor or strong their credit report is compared to when said customer applied for the card. If you want a more honest lender, go with a credit union and don't do business with a large corporate entity like Citi. 

[UncleB]

---

@Anonymous wrote:

My APR is whats up and been up there for a since I had the card for 8 years or so.

Sitting at 22%, I applied for the card way back doing a balance transfer which helped

@out to knock down cards. After it was paid off after 18 months @ 0% I put the card

on the idle. Maybe a few purchases here there nothing special. I called in for a APR drop

and they always tell me to call back in 6 months.

Ok, enough with that run around so I decided not to use it but keep active just for kicks.

I cleared up another round of debt last year. Scores then and now remain in mid 800's.

The other day I tried calling again, no go. Wont budge?!

Why are they doing this? Do I have to use their card more? To get "noticed"

---

I'm in the same boat; after reading all the success stories about easy APR reductions I went on chat about my (now) little-used Diamond Preferred that's at 23.49% and was told there are 'no offers available' - I admit I was a bit surprised.  My scores are currently in the low 800s.

With no new BT offers, a sky-high APR, and no good PC options (assuming there is even an "offer" for one) this card will be in the SD for a while.  At some point if I become a Costco member I might see if they will PC to a Costco Visa (which would also take care of the APR problem) but otherwise I'm not too concerned about it.  It's possible that if I gave them some swipes they would come around, but honestly it doesn't mean that much to me anymore. 

[JustBPatient]

Why not PC your DP to Doublecash?  I think they make you wait a year but it can be done.  Good luck!!