Citi Bank credit card settlement affects nearly two million clients
Pat Conn likes to keep a close eye on her credit card statements each month.
“I have three and I check them regularly,” Conn said. “There could be something that’s not yours on your account and be charged for it.”
But something unsuspecting cardholders might not pay close attention to is the interest rate charged.
“I don’t check it because we pay it off monthly,” Glenn MacKendrick said. “I don’t get charged any interest. Honestly, I couldn’t even tell you what my interest rate is.”
Now nearly two million Citi Bank card users are getting refund checks in the mail. These customers were paying a higher interest rate than what was agreed.
Some as much as $260.
“It’s a shame that in today’s society if a consumer wants to get a lower interest rate, they actually have to call the credit card company,” Carmen Dellutri said, a business and personal injury attorney in SWFL.
Dellutri said that is why it is crucial card clients are paying close attention to their bank statements each month.
“You gotta monitor these things because otherwise you could be getting taken advantage of and it doesn’t take long,” Dellutri said. “Just compare last statement month’s statement to this statement.”
Consumers like Conn said although she pays off her credit card each month and does not pay any interest, she would like to know her bank is looking out for her.
“Absolutely, they should protect us in any way they can,” Conn said. “That’s what we’re paying them for.”