I just got home and checked the mail and found out that Citibank is raising the interest rate on my credit card (which I have NEVER been late on, and as a matter of fact have a balance about half of my limit) from a fixed rate of 9.99% to an APR of 29.99%. That's an increase of 20%. TWENTY PERCENT. Their explanation is that to continue to prove customers with access to credit, they have to adjust their pricing. 20% is, in my opinion, usurious charges. I closed my account to lock in the current rate that I have so I can pay it off. Oh, get this, they have a program that let's me get a credit for 10% of that interest if I make my minimum payment on time. Even taking into account that lovely little program, it's still a raise of TEN PERCENT.
I was told to have a happy holiday season.
Citibank can kiss my ass this holiday season.