Citibank Credit Card Complaint

Citibank Credit card department,

Payoff process Georgia

Citibank Promotional Accounts Citibank provides credit cards for Sears, Home Depot probably many others. The Credit cards issued by Citibank can be store cards, that can be used only at the merchant only or a - or - that can be used everywhere. As part of the credit services, promotional accounts, i.e., " same as cash accounts '' is also provided. My understanding is that if a consumer has a promotional account and other charges on the credit card, consumer payments in excess of the minimum payment must be applied to the promotional balance first until it is paid off according to Federal Regulations. Citibank does not apply the excess amount to promotional accounts. Instead, Citibank uses some type of a hierarchy.


Unless the consumer is aware, the consumer is going to get slapped with the high interest accrued towards the promotional balance. Citibank does not to disclose the consumer how they apply the excess of the minimum payment. In my case, I would have incurred an addition $600.00 all the while I was making payments in excess of the minimum to pay off my promotional balance. When I called the Customer Service today - -/-/17 -, the representative told me about the convoluted hierarchy, which I do not understand. When I informed them that they are in violation of the Federal Law regarding credit card payment, the representative retroactively allocated my excess payments to the promotional balance and my promotional balance is paid off.