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Citi jacking up credit card interest rates

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AMERICAblog reader William writes:

I just saw that my Citi Smith Barney visa card is now charging me 15.99% on standard purchases.

Last month my rate was 8.99%.

I just got of the phone with a Citi representative. She said there was a notification that went out with last month's billing statement, but I didn't notice anything.

She told me that I could opt back to the 8.99% rate, but that I would not be able to renew my card, when it expires, that the account would close.

They take a big tax payer bailout then they screw their tax paying customers.

I'm fucking livid.
(excuse my language)
More on this problem here.

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