Citicorp Deferred Interest Trap Springs Shut On Man Who Underpaid By $11

Citicorp Deferred Interest Trap Springs Shut On Man Who Underpaid By $11

I suspect some readers will say that Assefa Senbet is to blame for screwing up one of his final payments to Citibank on a deferred interest loan agreement. They’ll be right–it was his responsibility. But he didn’t skip a payment, and he wasn’t late. In fact, he frequently overpaid in order to pay it off early. Near the end of the loan, however, he sent in a check for $70 instead of $81. As a consequence, he’s now paying off $887 in deferred interest fees at a 30% interest rate. [More]

Forever 21 Aftershocks? Citibank Cancels Cards Due To Retailer Security Breach

Forever 21 Aftershocks? Citibank Cancels Cards Due To Retailer Security Breach

We’ve received queries from readers telling us that their Citibank cards have been replaced, and asking whether we’ve heard about any new security breach. Other than Forever 21 we haven’t, so we’re wondering whether they’re responsible for the stories below.