Citibank To Customer: Charge $750 And We Won't Gouge You So Badly

Mike says Citibank boosted his interest rate to 20 percent, then said they’d knock off half of it as long as he paid on time and charged at least $750 a month.

He writes:

I received a letter from Citibank today telling me they are hiking my APR to 19.99% They said “To continue to provide our customers with credit, we have had to adjust our pricing.” I can decline, keep my current terms and have my account closed at the expiration date.

They have a program to “help offset the increase”

1. Charge $750 a month
2. Pay my bill on time every month

If I do that, they will credit me back 10% of interest charged. A friend of mine got a similar offer, but only has to charge $500 a month.

Has anyone else out there tried to cancel their card over this? Do they just say “ok” or will they flinch and back down?

I wonder if Citi would have offered Mike another 5 percent off his rate if he agreed to get a tattoo that reads “Citibank Stooge” on his forehead.

If you’ve gotten a similar offer from Citi or any other credit card provider, tell your story in the comments.

(Photo: pstardesign)