Back in July, Citigroup announced that it was reconsidering its policy not to increase interest rates at any time for any reason.
There are reports today that it is increasing interest rates on up to 20 percent of its issued credit cards by an average of 3 percentage points.  Here’s the news story.  It seems to [...]

It hasn’t been a particularly good month to be a credit card company or a credit card processor.

American Express - Moody’s announced on Thursday that it is reevaluating American Express’ rating because of concerns over its credit card business and lending exposure.  (Details are in Reuters).  Moody’s cited a number of factors in the press [...]

On the eve of the Beijing Olympics, Citibank has begun issuing yuan denominated debit cards.  Read more at Reuters.

In its effort to save itself from the credit crisis, Citibank is risking alienating the majority of its customers and federal legislators and regulators as well.  Citibank started with a controversial new student loan policy announced after the Federal Reserve proposed regulations that would prohibit the announced practices.
Now, Citibank feels comfortable reconsidering promises made to [...]

Malaysia must have felt left out of the Ultimate Credit Card party because Citibank is now issuing the Giant Credit Card for Malaysian consumers.

If you thought that you had the best credit card for rewards, gas discounts, or airline miles - you may need to rethink your credit card choice. Apparently, Citibank unveiled the Ultimate Credit Card today.  The credit card is “a lifestyle experience with unbeatable international and local offers … to keep cardholders at the cutting [...]

Congress and the Federal Reserve are currently considering legislation and regulation to alter potentially deceptive and misleading practices in the credit card and banking industry. If you haven’t seen the proposals already, and would like more information, then you can get find it at the Federal Reserve’s press release here and the subsequent press [...]