Will Citi Pay Me? citi never pays

Citi cancelled my credit card because I would not pay its annual fee. But a Citi Retention Supervisor overruled that move and reinstated my credit card minus the annual charge of $85. Result: A $52.20 credit balance. Alas, none of that avoided a DECLINE when I attempted to use my Citi card to pay a $30 parking charge. The right questions unravel the mystery:

Q: Why does Citi deny the reality of my credit balance?

A: Because it needs the money. Besides, I am a deadbeat. Citi is sending me a message: You seem to think this is your money. To Citi’s way of thinking, a deadbeat pays the balance in full each month but never pays any extra fees, like a Late Fee or Monthly Service Fee. Deadbeats just charge up a storm and pay-in-full at month’s end. Why give a deadbeat any money, especially his own?

Q: Why isn’t Citi nicer to taxpayers who bailed them out?

A: Citi does not see us that way. Citi believes the Fed bailed them out, i.e., the cash came directly from the printing presses, not taxpayers’ pockets. (It’s like Citi owns the Fed, which in a way it does.) Citi’s Retention Department wants to retain me because it is in the retention business. Citi’s Service Department wants to lose me because it is in the service business. The President’s Office (the place where consumerists are sent) is “looking into it” because it is in the business of looking into things to look out for. Due to people like me, the departments have no time to talk to each other.

Q: Does Citi ever pay for being late?

A: Never. Citi believes in top-down banking. Citi has had my money for over 5 weeks. I asked each department, “What about my fees from Citi?” I explain my fees are like theirs: Add to my balance of $52.20 the following: A $35 late charge plus15.24% interest on the $52.20 and send me a grand total of $87.86. Retention and Customer Service people laugh nervously, but the Office of the President sternly says, “Mr. Selden, customers pay us, we do not pay them.”

Moral: Be careful when giving Citi money. They may never give it back. And they sure won’t pay back at the interest rates they collect. So when Citi needs its next bailout, instead of a bucket of newly printed cash, just send the bucket.


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