Consumer complaint received 2024-12-17
Product: Credit card — Store credit card
Issue: Other features, terms, or problems — Other problem
Company: CITIBANK, N.A. (FL)

This is a follow up Complaint against Citi, Citi Reference Number : XXXX and their Best Buy store credit card, deceptive financing, predatory financing practices. Citi responded to my initial response, asking me what I was looking for after my complaint. Initially their response sounded as though they planned to make this right- however, when I responded that I wanted Citi to remove the outrageous interest charge they had applied to my credit card balance, which literally doubled my balance, Citi refused to do anything- informed me that I should have seen this info about the " deferred interest '' deadline on my statements, however, my bookkeeper had our statements set on " paperless ''. I NEVER SAW A STATEMENT or knew about deferred interest, did not even know best buy offered such a thing! Even had I seen my statements, however, the information about the Deferred Interest deadline was so very small, nothing gives a consumer any idea on just how much they can add, when they defer interest! But, I doubt I would have noticed it on the statements anyway, even had I seen my statement, which I had not. 

I did not know that this purchase was on a deferred interest plan, Best Buy claims that a customer is asked at the checkout if they are interested in the program on the tiny credit card terminal where you slide your card in, what kind of info could anyone get on that small machine?. I will swear I never was asked, never knew about it, and the day that Citi posted a $ XXXX interest charge, my card balance was only {$2100.00} - so, I ended up being charged over {$6000.00} for a TV purchased for my office, I never knew about a deferred interest program, was not asked, but they also can not furnish me with any signed document which proves I agreed to such a thing, was told what rate interest would be charged, or that I was told the deadline to pay. Even though I called Citi on the day this interest posted to my card balance, and asked them to grant me a one time courtesy, allow me to pay my balance in full and waive the posting of this interest charge, which they had just added then, they denied it, like a large " gotcha '' and informed me that if balance was not paid by the date on my statement, which I never saw, its too late! 

This is the most deceptive, predatory game I ever saw a large company do, to bilk customers out of funds, and literally double the cost of purchases! Posting this amount on my credit account killed my credit score, caused me to be denied for a mortgage, all because they say I approved such a program at the checkout desk, but Citi can't provide me with anything I signed to prove I knew about it, nor that I was explained rates or terms etc! How can this be legal? 

Why is the CFPB not stopping these credit card companies, who can not even prove that a customer even had knowledge of this deferred interest program they say we agreed to? Best Buy informs me that one question comes up on the credit card signature terminal at the time purchase is rung up, whether a customer wants deferred interest. Anyone, including the salesman, can click on that terminal, and, if that is the method used, how can customers ever know that such a question could cost them more than their actual purchase, thousands of dollars, as it did in my case, a {$2200.00} TV cost me {$2400.00} in interest, even though I had been making auto-payments all along. What recourse do I have here, this is just plain robbery! 

Also, even though my former bookkeeper had been making monthly payments, Citi charged me interest in the end, on the original cost of purchase, so, they charged interest on monies they had been paid along the way- how is this legal?. I have not, even now, ever been advised as to what rate this outrageous interest was charged at? 


How can I pursue my rights here? Citi responded to CFPB complaint, the same way they responded to me by phone, which was, too bad, GOTCHA!