Help me! Under attack by Citibank

Discussion in 'After Hours Lounge (Off Topic)' started by Ryan Wright, Jun 23, 2003.

  1. Ryan Wright

    Ryan Wright Screenwriter

    Joined:
    Jul 30, 2000
    Messages:
    1,875
    Likes Received:
    0
    Trophy Points:
    0
    I need help.

    I have an $18k balance with Citibank. No, it's not irresponsibility, they gave me a fixed 3.9% for life rate and I transferred the balance of my truck to it. I've saved a ton of money on interest.

    Two months ago I made a payment online. Something happened, either I forgot to put the last digit in the account number on, or their system truncated it. I was given a confirmation number and told "payment accepted". A month later (last month) I received a statement saying my payment had NOT been accepted due to the last digit missing from my account number, and they had increased my interest rate to 28%, and charged me $400+ in interest and hundreds of dollars in fees.

    I called them on 5/28. They told me that they had credited all of the fees and fixed my interest rate back to 3.9%. I made a double-payment on the account to catch up for the previous month.

    Yesterday I got my bill. They hadn't fixed the interest. Now I have another $450 in interest charged to the account. I should have a total of about $50 in interest, but I've got over $850 now!! I just talked to a supervisor. She fixed my interest rate back to 3.9% but is REFUSING to credit the $850+.

    What do I do?!?! I sat here and argued with her on the phone but she won't give me my money back.

    Here's my line of thinking:

    1. I have a perfect credit rating. Absolutely perfect.
    2. I refuse to pay the $850. This is extortion, and bullshit. She said "Well you put the account number in wrong." I said "OK, let's assume I did. I'll pay the first $400 you charged me for my supposed fault. You then can credit me the other $450 because your agent screwed up." She refused.
    3. I've been told if I don't pay the $850 they will keep charging me interest based on that and will, eventually, send it to collections.

    So they're going to totally trash my credit rating if I don't pay their extortion fee. If they're going to ruin it anyway, hell, I might as well stiff them for the entire $18k. Either way, my perfect credit is ruined. I told her this and she said "Making threats against the account isn't going to help you." Well, screw them. Look, I have more than enough money to pay this. It isn't about that. It's about what is right and wrong, and what they are doing to me is wrong.

    What happens if I just stop making payments?

    What happens when collections starts calling? What can they do to me? Note that this is UNSECURED debt. They can't come take my belongings over it, can they?

    Can they sue me?

    What happens if I declare bankruptcy? Obviously I'm not bankrupt, but I'd be willing to do it to stick it to those asshats. I am more than capable of paying cash for everything for the next 7 years.

    Yes, I owe them the $18k and I know I should pay it. Up until now I never intended not to. But right now this is the only bargaining chip I have in this battle. How can I use it against them? All I want is the last two month's worth of back interest @ 28% reduced back to my normal rate of 3.9%. But if they're going to sue me and attack me and destroy my credit instead, then I might as well get something out of the deal. I figure I'm willing to trade ruined credit for not having to pay any of that debt. I mean, you know, if they're going to do it to me anyway.

    Please advise.
     
  2. Thomas Newton

    Thomas Newton Screenwriter

    Joined:
    Jun 16, 1999
    Messages:
    1,544
    Likes Received:
    35
    Trophy Points:
    1,610
     
  3. Tony Whalen

    Tony Whalen Producer

    Joined:
    Jan 29, 2002
    Messages:
    3,150
    Likes Received:
    0
    Trophy Points:
    0
    1. Talk to your lawyer.

    2. Talk to the BBB.

    3. Talk to your bank (or a different bank), and move the loan elsewhere. Even if the interest rate is slightly higher, it's better than dealing with this additional stress...

    Good luck! Hope this works out!
     
  4. Matt Gordon

    Matt Gordon Supporting Actor

    Joined:
    Jun 21, 2001
    Messages:
    534
    Likes Received:
    1
    Trophy Points:
    0
    1.) You need to formally dispute the charges in a LETTER to them. Phone calls are not accepted on this type of issue.

    2.) Get the woman back on the phone and use the six magic words: "Let me speak to your supervisor." I know she's a supervisor, but everybody's got a boss.

    3.) You are correct that this is unsecured debt. It is not backed by any collateral, such as your home, your truck, your HT... [​IMG]

    4.) Take the money elsewhere... another CC, a bank, anything.


    Matt
     
  5. Max Knight

    Max Knight Supporting Actor

    Joined:
    May 8, 2000
    Messages:
    531
    Likes Received:
    0
    Trophy Points:
    0
    If worse comes to worse, keep paying off until you get down to $850 (plus any new interest on that $850) and then quit paying. Keep records of every transaction and every contact.
     
  6. Jeff Ulmer

    Jeff Ulmer Producer

    Joined:
    Aug 23, 1998
    Messages:
    5,584
    Likes Received:
    0
    Trophy Points:
    0
    As said above, you need to formally contest the charges in writing. hopefully you have the name of the person who screwed up the original charge, and that of the last person you spoke to. Document the series of events, and explain the situation.

    Making threats, refusing to pay or declaring bancruptcy are not the way to deal with this. Just put everything in writing and formally request the interest charges be reversed.

    I would also look for a different credit card to transfer your balance to, you should be able to get close to 0% these days with a good credit history.
     
  7. Ryan Wright

    Ryan Wright Screenwriter

    Joined:
    Jul 30, 2000
    Messages:
    1,875
    Likes Received:
    0
    Trophy Points:
    0
    OK, I've calmed down somewhat and have decided that refusing to pay any of it was a stupid idea. I am looking into what the BBB, Attorney General, and FTC can do for me. Also, I have been told to look into the "Fair Credit Billing Act", which I will be doing.

     
  8. Ted Lee

    Ted Lee Lead Actor

    Joined:
    May 8, 2001
    Messages:
    8,390
    Likes Received:
    0
    Trophy Points:
    0
    you received the confirmation letter stating payment made correct? then, in everyones eyes, you made a payment. then they suddenly try to ding you?

    what happened when you told them you received confirmation from them that payment was made? even if you did goof, they sent you a letter.

    also, i can't believe she is being such a hard-ass. you even offered to pay the first set of 450 dollar fees? and they're still harping on you? [​IMG]

    definitely talk to someone higher up? i know you're stressing cuz you don't wanna blow your credit (which you've worked hard for) but slow down and try to talk to citibank first. i can't believe that someone higher up can't make a call on this?

    like someone said, everyone has a boss.
     
  9. Ryan Wright

    Ryan Wright Screenwriter

    Joined:
    Jul 30, 2000
    Messages:
    1,875
    Likes Received:
    0
    Trophy Points:
    0
     
  10. Kevin Alexander

    Kevin Alexander Screenwriter

    Joined:
    Apr 17, 1999
    Messages:
    1,357
    Likes Received:
    0
    Trophy Points:
    0
    The funny thing is that once this battle all over, no matter how fierce and bloody it was, and the debt is paid off, that CC company will act as if nothing ever happened and will send you another great offer in the mail to do business w/ them.
     
  11. MickeS

    MickeS Producer

    Joined:
    Jul 24, 2000
    Messages:
    5,058
    Likes Received:
    1
    Trophy Points:
    0
    What I for the life of me can't understand is why a business is willing to piss off a customer like this. It must be obvious to everyone involved that it was an honest mistake on your part, so why are they trying to screw you over here? It makes no sense.
     
  12. Michael Boyd

    Michael Boyd Second Unit

    Joined:
    Sep 19, 2000
    Messages:
    277
    Likes Received:
    0
    Trophy Points:
    0
    Hey Ryan, was that the first time you had entered your bank account number into their system? Ive been doing it for a year or so with no problems yet but your post is frightening me!
     
  13. Reginald Trent

    Reginald Trent Screenwriter

    Joined:
    Feb 18, 2000
    Messages:
    1,313
    Likes Received:
    0
    Trophy Points:
    0
    Quote:

    As said above, you need to formally contest the charges in writing. hopefully you have the name of the person who screwed up the original charge, and that of the last person you spoke to. Document the series of events, and explain the situation.
    -----------------------

    Do everything stated above however, I would no longer deal with that woman supervisor. All future correspondence should be sent to CITI Bank's top person their title could be C.E.O. or possibly President. Call their 800 # and ask who heads CITI Bank?

    This may seem silly but... once they tell you the name ask if there is anyone over that person. Once you are satisfied that you have the top person write them a calm, civil letter telling them you were unable to resolve the issue at the supervisory level and were forced to write the C.E.O.

    Whatever, you do resist you desire to totally bad mouth the lady supervisor. You must appear to be a thoughful and reasonable customer.

    I hope this helps, let us know.

    BTW you should also cc the letter to the Federal Trade Commision, they regulate credit.
     
  14. Jeff Ulmer

    Jeff Ulmer Producer

    Joined:
    Aug 23, 1998
    Messages:
    5,584
    Likes Received:
    0
    Trophy Points:
    0
    If you can find a card with a 0% interest there is nothing to stop you transfering the balance again in 6 months to another card.
     
  15. Mike Voigt

    Mike Voigt Supporting Actor

    Joined:
    Sep 30, 1997
    Messages:
    799
    Likes Received:
    0
    Trophy Points:
    0
    Do all of the above, get the credit to the account, wait a month - an then pay off the ENTIRE balance.

    They live off the interest rate. That is one of their main business lines. By paying it off, you are cutting into their bottom line.

    I know the rate is good - quite good - although frankly you can get in the 4% range from a credit union.

    Once you pay it off, your insurance payments will probably be reduced, as you're not forced anymore to carry the types of coverage the lenders require... that too is worth something...
     
  16. Ryan Wright

    Ryan Wright Screenwriter

    Joined:
    Jul 30, 2000
    Messages:
    1,875
    Likes Received:
    0
    Trophy Points:
    0
     
  17. Chris Lockwood

    Chris Lockwood Producer

    Joined:
    Apr 21, 1999
    Messages:
    3,215
    Likes Received:
    0
    Trophy Points:
    0
    I think I'll stick with paper checks for now. [​IMG]
     
  18. Matt Gordon

    Matt Gordon Supporting Actor

    Joined:
    Jun 21, 2001
    Messages:
    534
    Likes Received:
    1
    Trophy Points:
    0
    I pay my Citibank credit card bill every month this way, and it's set up where I don't have to enter in account numbers anymore. Once you get it right, it's pretty seamless. [​IMG]

    Sorry it didn't work out for you, Ryan... and I'm even sorrier that they've chosen to handle themselves that way. [​IMG]
     
  19. Ryan Wright

    Ryan Wright Screenwriter

    Joined:
    Jul 30, 2000
    Messages:
    1,875
    Likes Received:
    0
    Trophy Points:
    0
     
  20. Jeff Ulmer

    Jeff Ulmer Producer

    Joined:
    Aug 23, 1998
    Messages:
    5,584
    Likes Received:
    0
    Trophy Points:
    0
    Well, I'm glad to hear this sounds like it is being resolved, but in the future, it would be prudent to use the online account balance feature to ensure your payments actually made it through. Also, as you now know, always put these problems in writing, that way the other party can't claim you never called or there was a misunderstanding. A well drafted letter usually clears up these issues promptly, if not, they serve as good evidence should you need to pursue it further.
     

Share This Page