Citi to Raise Credit Card Interest Rates

In an article titled "Despite Pledge, Citigroup to Raise Credit Card Rates, Blaming ‘Difficult’ Environment", Eric Dash writes for the New York Times that Citi is "reneging on a promise it made to tens of millions of credit card customers in good times" by raising interest rates - by 2 to 3 percent - on credit cards for its customers that haven't had an increase in the last two years. The increased interest rate will be communicated to cardholders in their November statements. The affected cardholders can then choose to decline the increase and continue to pay interest at the original rate but only until their cards expire.