Citi Bank is a loan shark that will break your leg

TL;DR Citi Bank is indistinguishable from a neighborhood loan shark. They charged me an additional $109 USD in late fees over a period of three months due to an initial debt of $60 USD incurred in the same period.

I just received an email from Citi Bank telling me I owed $100.74 on my Costco credit card. Which confused me because I haven’t bought anything from Costco in the past year. It turns out that I overlooked the $60 Costco membership fee I was charged on 2020-03-02. Citi Bank charged me interest and a $29 late fee. On 2020-04-14 I paid the $60 membership fee but failed to include the $29 late fee and interest in my payment. Citi Bank then charged me a $40 late fee. I then sent them $10.41 thinking that would resolve the issue. That was based on their misleading web site that shows the activity for a given period without showing the total amount outstanding at the end of the billing period.

So, because I wasn’t paying attention, a $60 debt incurred three months ago accrued $109 in late fees, plus interest, over the same period. This is the sort of thing that makes me wish Senator Elizabeth Warren was president.

My Recent Citi Bank Transaction History