Citibank says no to staggered credit card payments
People should regularly read Victor Agustin’s Cocktales Column published in Manila Standard Today. He writes about talks going on around the business community, which, most of the time, turn out to be true. He also writes about what’s happening in the banking community so, from time to time, you can get to read some issues before it even reaches the ears of other reporters.
In today’s issue, a small anecdote about Citibank caught my eye. You can also read the entire column in his blog.
Most creditors are only too happy to receive payments from debtors in these trying times, but Citibank even penalizes with a P40 transaction fee those who opt to stagger and pay more than twice a month their Citibank-issued credit cards.
If this is true, then I am very, very, very angry. Hubby has a Citibank-Shell credit card and there are months when we pay on a staggered basis. If Citibank is indeed charging credit card holders who pay more than twice a month, then screw you, Citibank!