Consumer complaint received 2018-05-03
Company: CITIBANK, N.A.
State: TX
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Fees or interest
Sub-issue: Unexpected increase in interest rate

Complaint:
On or about XX/XX/XXXX, My concern is card issuers lack of comparison to the rate being charged to the rate to be charged for new applicants today based on the issuer 's pricing for new accounts.

Further concerns ; their lack of compassion and consideration in following reasonable polices to give any help due to my Identity Theft crisis inXX/XX/XXXX, whereas my credit score plummeted from XXXX ( GOOD ) to XXXX ( POOR ) condition, as if overnight. Failure for Consideration for credit line increase to provide for balance transfers to slow down the rate of pay-down. This would be achieved by reducing the minimum payment ratio from 10 % of the balance outstanding to 5 % for example or by offering payment holidays.

The rate increase and arbitrary charges for services without consideration for whether the factors that led the card issuer to increase your interest rate still apply.

Card issuer proceeded down the path where factors that led to the increase no longer apply and failed to decrease my rate and follow reasonable policies in doing so.

This behavior deprived me of ability to meet Hardships & Emergency financial needs during Family crisis at this time. My inability to qualify for access to reasonable lending leads me to predatory lenders which causes the need for me to seek & qualify for Credit card Debt relief and/or Chapter XXXX Bankruptcy methods. On or about XX/XX/XXXX My concern is card issuers lack of comparison to the rate being charged to the rate to be charged for new applicants today based on the issuer 's pricing for new accounts.

Further concerns ; their lack of compassion and consideration in following reasonable polices to give any help due to my Identity Theft crisis in XX/XX/XXXX whereas my credit score to plummeted from XXXX ( GOOD ) to XXXX, ( POOR ) condition, as if overnight. Failure for Consideration for credit line increase to provide for balance transfers to slow down the rate of pay-down. This would be achieved by reducing the minimum payment ratio from 10 % of the balance outstanding to 5 % for example or by offering payment holidays.

The rate increase and arbitrary charges for services without consideration for whether the factors that led the card issuer to increase your interest rate still apply.

Card issuer proceeded down the path where factors that led to the increase no longer apply and failed to decrease my rate and follow reasonable policies in doing so.

This behavior deprived me of ability to meet Hardships & Emergency financial needs during Family crisis at this time. My inability to qualify for access to reasonable lending leads me to predatory lenders which causes the need for me to seek & qualify for Credit card Debt relief and/or Chapter XXXX Bankruptcy methods. Have been a long time customer in good standing since approximately year XX/XX/XXXX.

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation