Box 6000
The Lakes, NV 89163-6000
RE: Violation of Account Terms
To Whom It May Concern:
As written in a letter dated November 12, 2009, to me concerning changes in terms, of which I have enclosed a copy for your edification, I phoned not once but TWICE in November 2009 to opt out of the changes and have my account closed under the current terms. Those terms were for an annual percentage rate in effect since December 3, 2008 up until the billing cycle ending January 22, 2010.
Nonetheless, my latest billing cycle ending February 19, 2010, reflects the increased percentage rate – at the default rate, no less – as if I were to opt in for the change. Again, I opted out of the change in terms, because quite frankly the increased annual percentage rate is absurdly ridiculous. Further, there is absolutely no justification for the increase in percentage rate, as I have never defaulted nor been late with a payment. You expected me as a cardholder to adhere to these terms, and yet you failed to do it yourself. As far as I am concerned, as is my lawyer, you have violated not only federal legislation aimed at reigning in such devious practices – not least of which is the failure to notify me of the increase in a reasonable timeframe, as mandated by legislation – but also the terms of the account agreement, and have therefore made it null and void.
As a journalist, I have covered many atrocious news items, but never have I been a personal witness to a thing as your practices that are nothing short of modern-day indentured servitude. You take taxpayer money to bail your asses out of financial troubles that were yours alone, and then expect the very same card member taxpayers to continue funding your enterprise through absurd means as astronomical percentage rates. Your company and everything associated with it makes me sick.
A cardholder since 1999, I am appalled at the treatment I have received over these past ten years. As such, you can go to hell before you get another dime from me, and I vehemently refuse to pay any further on this or any future balance due to your violations of the card member agreement. Be advised that my lawyer is currently drawing up papers to put forth a class action suit due to these violations.
Sincerely,
Citibank Sticks It To Customers - And Congress
©2010 Steve Sagarra
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