Having The Last Laugh for Bad Products, Poor Services and Broken Promises


September 3, 2010

Tags: hidden fees, Citibank

Citibank Tries—And Fails Again—To Collect Hidden Fees

Buried in the 3rd paragraph of the 3rd page in this month’s Citibank’s credit card statement was a notice of next month’s $85 “annual membership fee.” Each year Citi tries to sneak in fees for each of my Citi cards. Call to the toll-free number with: Drop the charges or I’ll drop the cards. Citi quickly complied.

Yet I am on Citi’s side: Since we-the-people bailed out Citi, I want Citibank to hide those highly profitable fees on other people’s credit cards. If Citibank gets better at hiding fees and annual membership charges, maybe it won’t need another bailout. It might even increase interest above the current of .04% on its High Yield Savings accounts.

Citi did try: I stumbled onto the annual fee notice tucked into the discussion of Citi’s settlement of a class action suit about rate changes and delinquent fees. (Will Elaine benefit? Don’t know Elaine? See my post “I Am Elaine” for July 4.) Try harder, Citi!