If you have a Citibank credit card you might want to check your next statement or look for a nasty little letter that is appearing in peoples mailboxes. In some cases people are reporting that their rates are being jacked from numbers like 7.95 all the way up to 16.99. It's called rate-jacking and it's exactly what Citibank is doing to it's loyal customers. Merry Christmas.
If you have a Citibank card you have until January to "opt out" of the rate jack and continue to use your card at the lower interest rate until the card expires. At that point your account will be closed and you will have to find a new card.
A word of caution though, if your credit rating is bad or if you are cards are all maxed out or you have no other source for a credit rating like a loan than you might want to think about cancelling your card. If you can find another card or perhaps speak to the customer service department like this guy did in comment number 13.
Good luck and I would love to hear some of your Citibank horror stories.
