Consumer complaint received 2016-09-13
Company: CITIBANK, N.A.
State: CA
Product: Money transfers
Sub-product: Domestic (US) money transfer
Issue: Incorrect/missing disclosures or info

Complaint:
On XX/XX/XXXX we have an outstanding balance of {$3000.00} interest free credit line loan with Citibank. Free interest expires on XX/XX/XXXX for this remaining {$3000.00} balance. On XX/XX/XXXX we accepted another CitiBank interest free offer loan of {$5000.00} on the same account. I wrote down the important details of this transaction over the phone. {$3000.00} was added to the {$5000.00} making a total of {$8200.00} OUTSTANDING loan INTEREST FREE payable effective XX/XX/XXXX up to XX/XX/XXXX For XX/XX/XXXX we paid {$45.00} minimum payment, for XX/XX/XXXX we paid {$750.00}, for XX/XX/XXXX we paid {$500.00} -- All interest free as contracted. 
Then for this coming XX/XX/XXXX scheduled payment, Citibank charged us {$25.00} interest alleging that the free interest outstanding balance of {$3000.00} had expired on XX/XX/XXXX. This was not our understanding ; our understanding of the agreement as discussed over the phone was that the balance of the old loan had become part of the interest free outstanding loan of {$8200.00} payable effective XX/XX/XXXX. It was not disclosed to us that the old loan of {$3000.00} free interest feature continues only up to XX/XX/XXXX and that after XX/XX/XXXX we will be charged of interest. There was a fraudulent intention to trap us into paying interest. Because of this entrapment, I declared to Citibank Supervisor that we are not paying this fraudulent interest charge and be part of Citibank conspiracy to defraud consumers. 
The previous Citibank Supervisor offered some kind of solution that he would forego the interest charge if we pay the balance of the first interest free loan. Today I called Citibank and spoke to another responding Supervisor named XXXX that we are paying the remaining balance of the first interest free loan as suggested by the previous Supervisor. Supervisor XXXX declined telling us there was no such offer of adjustment by the previous Supervisor. This rude Supervisor XXXX did not know that we recorded what transpired which exposes him as a liar. He claimed he is the authority representing Citibank when I asked to speak to his superior. If this is so, Citibank then is determined to scalp consumers for even a miserable amount of interest of as little as $ XXXX/mo but probably amounts to $ millions/mo for thousands of consumers it dopes like me and my wife. 
The solution I want which is fair is we will pay all the outstanding balance of the old loan which Supervisor XXXX claimed still exists immediately provided that we are not charged of the fraudulent interest that was not disclosed to us when we consolidated the XXXX loans into an interest free single obligation. The non-disclosure was a violation of the disclosure law. The other reason why we do not want to pay this fraudulent interest is that we do not want to be a willing participant to Citibank 's conspiracy to defraud innocent consumers like us. 
I want this published so that the innocent public maybe warned not to conduct business with Citibank and become victims of this well hidden interest scam. XXXX XXXX. E-mail address : XXXX. XXXX XXXX, 2016 -- XXXX XXXX XXXX time, California.

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 non-monetary relief