Citibank Credit Card Complaint

Citibank Credit card department,

Payoff process Missouri

The Home Depot offers consumer credit cards which are serviced through Citibank. They periodically offer extended payment terms with no interest charges if paid within -, -, -, or - months depending on the amount of the purchase. The extended terms purchases accrue interest at 25.99 % which is only charged if you fail to pay the balance in full before the extended term expires. The problem is the way that they apply payments that are made on the account. The online payment system does not allow the customer to direct which balance that you want your payment to reduce.


or more extended terms balances ( which must be paid in full by a specified date to avoid the deferred interest charge ). The Citibank system will automatically apply a payment to current month purchases before applying anything to the extended terms purchase balances. Obviously, they try to make sure that you do not get the extended terms purchase paid in full before the expiration so that they can collect the accumulated deferred interest charges. As a result, I have stopped making any new purchases on my Home Depot credit card which forces Citibank to apply my payment to the extended terms purchases. However, they are still applying the payment to the extended term purchase with smallest amount of accumulated deferred interest charges hoping that I will fail to get the larger balance paid in full before expiration.