I recently got a letter from Citi that they are not limiting their transfer fee to the traditional $75 anymore. I always promoted Citi’s Credit Cards until now. When I used to be a regular user of Citi’s credit cards I transfered thousands of dollars to my account and I had to pay 3% of the transfer fee but up to $75. Before I can transfer $4,000 with just $75 fee but if I were to transfer the same amount now then I have to pay $120 which is 3% of the $4,000 plus their current APR rate.

They have a great APR of 1.9% for transfers and I guess that they want to eliminate their $75 maximum fee to balance out their low APR. I know I used to promote Citi Cards before but after this I recommend you not to open any credit cards with them.

Like this article? Subscribe to the FULL RSS feed! Or add this site to Technorati Favorites

714 Views