too stupid to deal with

Citibank Invents "Pretend Rate" For Credit Card

Citibank Invents "Pretend Rate" For Credit Card

Citibank has changed the terms of Victor’s credit card agreement, and in the process they’ve created a bizarre rolling refund arrangement that will make his interest rate jump to 29.99 percent, except that actually it won’t, eventually. Maybe. Update: Another reader sent us a copy of the letter, and the arrangement is even less favorable than we first thought (see below).