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Path: utzoo!watmath!clyde!burl!ulysses!harpo!decvax!ittvax!dcdwest!sdcsvax!sdccs6!ix21
From: ix21@sdccs6.UUCP
Newsgroups: net.consumers
Subject: More problems with Citibank Credit Cards (Repost)
Message-ID: <1454@sdccs6.UUCP>
Date: Wed, 2-May-84 17:58:00 EDT
Article-I.D.: sdccs6.1454
Posted: Wed May  2 17:58:00 1984
Date-Received: Fri, 4-May-84 03:48:36 EDT
Organization: UCSD Medical School
Lines: 33
Keywords: Visa,Mastercard,Diner's Card, Carte Blanche

This article is being reposted because several people said they
received the article truncated.

There has been some discussion about the value (or lack thereof -) )
of Citidollars.  I recently received their latest copy of their
regulations for their credit cards which contained some disturbing
fine print.

First they stated that if your balance is subject to a finance
charge, the finance charges on new purchases commences on the date
the purchase is made and not the date of posting.  Which means
if buy something on 5/1 but the merchant does not take the slip to
the bank till 5/15, you still pay the interest on the period between
5/1 and 5/15.  To my knowledge no other credit card calculates
finance charges in this manner.

Second I noticed the usual statement about about the rights you have
when you have a disagreement with a merchant for a product over $50
and purchased within your home state or within 100 miles.  What was
unusual was a statement was a statement that the cardholder waives
all rights not granted by this law.  I never tried getting Citibank
to help with a problem with a product before, but when I had a
problem with a product I bought with another Bank's credit card,
they credited my account instantly without any hassles.

Maybe I am being overly suspicious or a nit-picker, but I prefer a 
credit card that does not have a lot of fine print.

David Whiteman