I'll try to keep it short and to the point. Perhaps it's a lesson to have been learned and shared.
In 2017, I decided to open a new credit card up to help manage expenses for getting married later that year.
I began 2017 with a near perfect credit score and financial reports that I monitor on a regular basis. So the best matched offer for a card was one from Citi that came with 18 months 0% interest. I applied, got my approval notice and thought this will help me structure out paying for the wedding and hit the 18 month with either a very low balance or have the card paid off.
Open my card statement this month to see an interest charge. Figuring this card isn't even a year into it, I need to inquire.
After hitting some walls, I decided to take a hammer and contact Consumer Financial Protection Bureau (CFPB). Two days later I hear back from CITI as a response that I had never had 0% interest and that I had other months with small interest payments.
Was told that the card I applied for that the 18% 0 interest is an "all-or-nothing" when you get the card and just because you are approved for the card doesn't mean the approval applies to the promotion. The promotion has a set criteria that I must not have met. (No one I spoke to at Citi knew the qualifications or criteria).
Ultimately, I've been told that applying for a card with 18 month no interest card and being approved does not mean you're going to receive that and what you receive is described in your terms and conditions.
What Citi will do is give me 7 months interest free and take off my last interest payment for my issue.
Do I just accept that or continue to fight through the CFPB relating to advertising concerns?
Submitted January 30, 2018 at 09:33AM by KevinClose http://ift.tt/2npmbkU
