Citibank Can Kiss My Ass

I arrived home today to find a notice from my credit card company Citibank informing me of a rate increase. If my memory serves me correct, this is the second increase in less than a year. Now, this really doesn't affect me as I pay my balance in full every month. But, the action basically smacks me in the face for two reasons.

1. I've been a loyal customer for years. I've always paid my balance. I've always paid on time. They've basically never had a problem with me. No fraud. No lost cards. No shady purchases. I always call before I go on vacation. You get the picture.

2. This is the even more distasteful one. Citi has begged for and received at least $20 Billion (with a capital B) of taxpayer funds to pay for their horrible business decisions. We are also on the hook for $100 Billion (that B again) of bad assets should they fail.

Now, has any of the decision makers been fired at Citi? No. Has Citi performed any goodwill services to the citizens of this country? No. Have they even THANKED us? No.

Why should they? They can sit in their executive offices and make horrible greedy decision after horrible greedy decision with no accountability whatsoever.

So, in my anger I called Citi to express my displeasure. I told the customer service representative that my forthcoming vent was not directed at her and that I sympathized with her because I've been on the receiving end many times. She gave me some spiel about the price of borrowing money has increased and blah blah blah. I gave my $0.02 (probably $0.002 with inflation though Citi would charge me $20 for it) and was asked if there was anything else. I told her no and to have a good day.

Well Citibank, you've definitely lost a customer today. I will still keep the account open to keep my credit score up, and since it is tied to my American Airlines frequent flier miles (who I have a bone to pick with too), but rest assured I will use my State Farm Bank card when I need to use one. At least they haven't asked for a bailout.