Quote:
Originally Posted by arthurb999
You can opt out and they freeze your rate and don't let you use the card anymore... it's worth a shot...
|
I happened to opt out of a rate jack from citi and can still use my card until it expires in 2 years. I get balance transfer checks weekly from citi. Also by opting out my interest rate is actually down 2%. I was in your spot OP and was confused as to what to do. I had carried a large balance on my card and was shocked when the increase letter came in. I made a number of calls to citi to talk them out of the increase and finally happened upon a very nice customer service rep who suggested to me that I opt out of the increase and to call them before the card expires and negotiate new terms at that time since I have 2 years to go. She said they will most definitely work with me cuz if they didn't they would lose all of their good customers and wouldn't have much of a business if they just went ahead and closed everyones accounts. That's just my experience and word on this matter.