Consumer complaint received 2024-09-12
Product: Credit card — Store credit card
Issue: Fees or interest — Problem with fees
Company: CITIBANK, N.A. (WA)

I made XXXX purchases in XXXX ( the XXXX & XXXX ) on my Home Depot card issued by Citibank totalling {$84.00}. After paying the bill in full the following month, having made no further purchases Citibank is holding me in debt to the tune of {$100.00} and has deeply injured my credit standing with the credit bureaus and has reduced my credit from {$5000.00} to {$500.00} after charging me excessive fees. 

I made a payment of {$50.00} XX/XX/XXXX at XXXX I returned a total of - {$69.00} XX/XX/XXXX at XXXX I made a purchase of {$58.00} XX/XX/XXXX at XXXX I made XXXX payment {$25.00} XX/XX/XXXX at XXXX I believed the account was paid in full and have made no further purchases My payment was 7 days past its due date and this generated a {$29.00} late fee and an interest fee of {$2.00} totally {$31.00} on a payment requirement of {$29.00}. I complained to the customer service several times explaining that I believed this fee to be excessive and possibly illegal. 

These are the fees generated since the XXXX purchases that totaled a mere {$84.00} XXXX late fee {$29.00} XXXX interest {$2.00} XXXX interest {$2.00} XXXX late fee {$29.00} XXXX interest {$2.00} XXXX late fee {$40.00} XXXX interest {$2.00} XXXX fee reversal - {$40.00} ** XXXX late fee XXXX ** XXXX interest {$2.00} ** ** the last XXXX fees were all on the same statement which means I really received no credit My current balance sits at {$100.00} which is all fees and interest on a balance that was paid in full on XX/XX/XXXX. These fees exceed the new federal law that was passed on XX/XX/XXXX and went into effect on XX/XX/XXXX that does NOT allow late fees to exceed {$8.00} per billing cycle and ALL my purchases were made AFTER the law was passed. All late fees ( except the XXXX fee ) were charged AFTER the law was FULLY IN EFFECT and far exceed the {$8.00} maximum. These fees ALSO VIOLATED Washington State Legislature RCW code 63.14.090 which clearly states that accounts with a balance below {$100.00} which are paid within 10 days of their due date can not assess a late fee that exceeds 10 % of the daily balance and the minimum charge can be {$2.00} which I paid leaving me a balance of XXXX cents which would not have generated any further late fees. Clearly these fees violate both federal & state laws. The initial late fee & interest exceeded the payment by over 100 %. 

Please help! Citibank is negatively reporting my account as late which is incorrect and is not supposed to be reported negatively unless my account was 30 days late. They also decreased my credit limit from {$5000.00} to XXXX which I find discriminatory based on the circumstances of their shark style lending & late fees. This has had an EXTREME effect on my overall XXXX XXXX which dropped over XXXX points leaving me at XXXX. I am currently shopping for car insurance and this NEGATIVELY effected my rate which had been lower due to a deduction for good credit with my previous score of XXXX. This has also caused a soft pull that generated a negative impact on my XXXX account that reviewed my credit and closed my account. Please help! My credit was EXCELLENT prior to this nightmare.