Citi card

scott_lithgows

Got the letter today,will be reading future bills very carefully.As in my earlier post the small print in an earlier bill removed the lob from the year 2049,I will be looking for more small print in the future.

100mel

I had the letter too - originally relates to a BMI card - took it for the apparent free flight which did not materialise either - taken over by Citicard and new card issued in October 2009 and rate hiked - sounds like one shower is replacing another - citigroup need the money so I assume that they have just offloaded the whole lot

juanramirez

I got the letter today too. I recently cancelled the PPI on my Citi Card as I never knew I had it and when I did a closer inspection of my bill I found I was paying about £35/£40 per month in PPI alone! I am paying a minimum of £120 per month, which I have been doing for about 4 years without making a dent in the debt! I'm hoping I can still claim that back!

I still have £3K to pay off, so i wont be agreeing to any APR change at all!

KAT0079

Is it possible to reclaim the PPI which I unknowingly took out with a Citi platinum card? I too have received this letter and wonder if a claim can still be made? If not is it possible for me to cancel the PPI with immediate effect?

Sorry for all the questions but would be grateful for any advice!

never-in-doubt

KAT0079 wrote: »

Is it possible to reclaim the PPI which I unknowingly took out with a Citi platinum card? I too have received this letter and wonder if a claim can still be made? If not is it possible for me to cancel the PPI with immediate effect?

Sorry for all the questions but would be grateful for any advice!

Sure, cancel it and reclaim whenever you want - there are no restrictions if you have been mis-sold it. However if you've ever made a claim in the past, forget it

See here: http://www.moneysavingexpert.com/reclaim/

never-in-doubt

juanramirez wrote: »

I got the letter today too. I recently cancelled the PPI on my Citi Card as I never knew I had it and when I did a closer inspection of my bill I found I was paying about £35/£40 per month in PPI alone! I am paying a minimum of £120 per month, which I have been doing for about 4 years without making a dent in the debt! I'm hoping I can still claim that back!

I still have £3K to pay off, so i wont be agreeing to any APR change at all!

See my response above - go to the same part of the forum to read about reclaiming mis-sold PPi - http://www.moneysavingexpert.com/reclaim/

sophie-jade

I too have received this letter. I phoned Citi yesterday (before I found this thread) and asked them what the implications were for my 5.9% LOB rate. They basically said that they have transferred all their credit cards to CCAM and if CCAM decide to increase the rate, then they can. As you can imagine I was then quite worried.

The customer sales representative didn't sound very knowledgeable and I've found it reassuring to see Never-in-Doubt's comments that they would not be able to do this (quite frankly I have more confidence in N-I-D's knowledge about these things than anyone at Citi).

Guess I'll have to wait and see what correspondence if any i receive from CCAM.

never-in-doubt

sophie-jade wrote: »

I too have received this letter. I phoned Citi yesterday (before I found this thread) and asked them what the implications were for my 5.9% LOB rate. They basically said that they have transferred all their credit cards to CCAM and if CCAM decide to increase the rate, then they can. As you can imagine I was then quite worried.

The customer sales representative didn't sound very knowledgeable and I've found it reassuring to see Never-in-Doubt's comments that they would not be able to do this (quite frankly I have more confidence in N-I-D's knowledge about these things than anyone at Citi).

Guess I'll have to wait and see what correspondence if any i receive from CCAM.

Hiya

Trust me, they cannot hike the rate from the LOB rate given, yes they can make the terms variable (as can all lenders) but this means you have the legal right to refuse the rate increase and repay the balance at the existing arrangement, of course the card cannot be used after you choose this option - not that you'd want to either lol.

But you hold all the aces, the bank know nothing at the best of times and this just goes to confirm it - DOH!

Thanks for the vote of confidence,

tony-bs9

I had this letter a couple of days ago. Thankfully it came at about the same time that i'd nearly managed to clear my account. I've just written them a snotty letter, enclosed a cheque for the full balance (76p) and taped bits of my cut up credit card in the shape of a frowning face and sent that back in too!

n37077

Has anyone tried to close their Citibank credit card account as a result of this news? I called them today (be sure to use 020 7477 2645 not the 0870 number) and after 3 calls finally establishing there is a difference between my account number and my card number, they were unable to close my card. It has a balance of £0 (originally used for easyJet flight offers). They stated it was an 'interest bearing account' and could not be closed until after the next statement date - which is 7th May. Despite repeatedly telling the bloke in the Indian call centre that there was no balance therefore could not be any interest, he kept repeating the same statement about bearing interest. Unable to get through to anyone who could just do the simple thing of closing the account, left feeling quite frustrated. Wonder if calling in to Citibank on the Strand will yield a better result.....

n37077 and new to this board though a long time lurker.