4.07% 18-Month CD ($25K Max) at Citibank - Nationally Available

Shane (anonymous) - #1, Thursday, August 6, 2009 - 10:12 AM

Since it's an 18 mo CD, you will have to pay the annual fee 2x (once this yr and once next), meaning the difference you'll earn is $625 (not $650 as noted).

Darryl (anonymous) - #2, Thursday, August 6, 2009 - 10:19 AM

I've heard secured cards have a severe negative effect on your credit score. Is this true? I have a relatively new credit history (2 yrs, about 7 month avg credit length; 4 cards), but if I deposited the max this would approximately triple my available credit.

Does this sound like a good idea to get save an extra $600?

john (anonymous) - #3, Thursday, August 6, 2009 - 10:26 AM

Why not cancel the card ? You do not need to use the card to get the cd rate from what I read. ???

john (anonymous) - #4, Thursday, August 6, 2009 - 10:40 AM

I just filled out the application and printed it and it printed in russian or dutch or ?? with someone elses' information - not my phone # or ssn. I filled it out again and it printed in english with my information. ??? Should I be concerned here ? really quite odd.

Doug (anonymous) - #5, Thursday, August 6, 2009 - 11:14 AM

My copy printed fine the first time.

Tony (anonymous) - #6, Thursday, August 6, 2009 - 12:33 PM

Where does it show the interest rate? I could not find it on the page.

larkin (anonymous) - #7, Thursday, August 6, 2009 - 12:43 PM

Click on "account disclosures" at the bottom of the page. A small window pops up verifying the 4.00%.

Anonymous - #8, Thursday, August 6, 2009 - 12:50 PM

According to a CSR, the annual fee is calculated staring from Jan 1st of each year, therefore, since June has already past, the fees for 18 months will overlap into the 2011, which means 3 annual fees will be charged.

Anonymous - #9, Thursday, August 6, 2009 - 3:09 PM

has anyone been able to confirm or deny that you can just cancel the credit card and avoid paying any annual fee and still keep the rate on the cd?

john (anonymous) - #10, Thursday, August 6, 2009 - 3:12 PM

That's my plan. Does not mention anything about keeping or not using the card once you have it. ?????

john (anonymous) - #11, Thursday, August 6, 2009 - 3:13 PM

TONY - the apy is 4.07%.

larkin (anonymous) - #12, Thursday, August 6, 2009 - 3:15 PM

Careful when cancelling the card...could mess with your credit to debt ratio and put a ding on your credit score.

Anonymous - #13, Thursday, August 6, 2009 - 4:04 PM

Information from CRSs at the branch and 800-number: CD and credit card accounts are treated as one. No matter which one (CD or credit card) you decide to close, the second one is automatically closed too and early termination fee (1 month of interest) applies.

Dominique (anonymous) - #14, Thursday, August 6, 2009 - 4:25 PM

Called CSR an hour ago, she said this offer only for people who want to establish a credit and doesn't have credit history, not for the ones who has one(bad or good). Citi then may deny your application. I'm tempted to send the application anyway. Any suggestions? Thanks.

larkin (anonymous) - #15, Thursday, August 6, 2009 - 4:30 PM

Anyone have a feel for when (if) the 4.07% locks in. Is upon receipt of gisnesheapplication or not until the credit card is approved. It seems this deal is more about the credit card than the CD. It would suck if they suddenly drop the rate while the application is in process.

Anonymous - #16, Thursday, August 6, 2009 - 6:07 PM

Nowhere in the terms does it say closing the credit card will result in closure of the CD. It does state the opposite, that closing the CD will result in the credit card being closed. If they actually open these accounts for people, I wonder what right they would have to close the CD if someone close the credit card account. Can anyone comment on our rights as an account holder?

Doug (anonymous) - #17, Thursday, August 6, 2009 - 6:27 PM

Stop your whining! BG finds you a fantastic rate on a CD, and you're already demanding "rights" as an account holder. Sometimes you just have to spend money to make money. Two or three annual fees of $29 ain't gonna kill ya.

Anonymous - #18, Thursday, August 6, 2009 - 7:32 PM

The bank's right to terminate the CD if you cancel the credit card is probably spelled out in the disclosure statement.

Their bank, their CD, their credit card = Their Right.

Anonymous - #19, Thursday, August 6, 2009 - 8:53 PM

They will run HARD credit pull on all applicants as per CSR. There will be lots of rejections if your credit is too good or too bad.
Be careful with Citibank, they are known to pull fast trick overnight and renege on the offer at will.

Anonymous - #20, Thursday, August 6, 2009 - 9:56 PM

How can they reject you if your credit is bad? They have your money in the CD if you default.

That is the purpose of the CD.

Anonymous - #21, Thursday, August 6, 2009 - 10:52 PM

One major concern is that they will promptly cash your $25K check, then take 4-5 weeks to reject your app and mail you a refund check.

Anonymous - #22, Thursday, August 6, 2009 - 11:09 PM

Nice guess, thank you!

"One major concern is that they will promptly cash your $25K check, then take 4-5 weeks to reject your app and mail you a refund check."

Anonymous - #23, Thursday, August 6, 2009 - 11:12 PM

To Anonymous, at 7:56 PM, August 06, 2009.

Simple, if your credit is bellow 400 on fico score, you are dead bit, if your score is above 700, you are to good for Citibank since you will not have any use of their products.

Anonymous - #24, Friday, August 7, 2009 - 3:14 AM

i just spoke to a csr and he stated the acct is for people with no credit or little credit. I am sure everyone reading this blog will not qualify. the csr said he would open the acct via phone and i would mail a check and then if i am disqualified for having "too good a credit history" they will send back the check. So its too good to be true!! so this rep said i would not qualify.

Anonymous - #25, Friday, August 7, 2009 - 10:06 AM

I ignore all Citibank promotions now. I have found that Citibank is very deceptive with the terms and conditions they spell out in their promos. You usually don't find out about additional requirements of limitations until you get to their branch. Then it becomes a waste of time, or a lot of frustration if you fall into their trap.

Anonymous - #26, Friday, August 7, 2009 - 10:19 AM

According to CSR, this program is for people with no credit history or very little credit history without any derogatory markings in it.
People with good or very bad or everything in between credit scores, will be rejected.
The rate does not lock until they have the money and you are approved, which can take between one and 3 weeks. If rejected, no interest is paid on your initial deposit or you will be steered into their regular CDs.
I think it is a scheme, Citibank will not be so generous.

Anonymous - #27, Saturday, August 8, 2009 - 1:57 AM

citi is a complete mess, i tried to open a CD on a promo reate. My bank (everbank) refused the ACH, it took citi 2 weeks to figure that out, everyday I called and everyday they told me the acc was funded and everything is fine. At the end of second week they told me my ACH was NSF and I could not open the acct, I wanted to redo the ACH but they said no its not possible. A week later I got a letter telling me my "check" was NSF and asking me if I wanted to send another check. But when I called they said it was too late??? really crazy bank. Its run like the USSR, no truth telling, sucks up governt money, no accountability..... I have concluded it exists only because of its political connections, because its "too big to fail"...

Anonymous - #28, Saturday, August 8, 2009 - 8:45 AM

I called August 8th, and the Citibank employee said that she COULD NOT confirm that the APY is 4.07% after speaking with her supervisor. So, I will NOT be sending them $25K.

Anonymous - #29, Saturday, August 8, 2009 - 3:28 PM

People, you are wasting time with Citibank. I was rejected for having a to good credit and so far I have not seen my money since I funded it 3 weeks ago.
Be smart and avoid my mistake, please!

Bozo (anonymous) - #30, Sunday, August 9, 2009 - 9:43 PM

This gimmick is just too silly.

If you're "rich" enough to have $25,000 available, you're "too rich" to qualify for the deal.

Oops,

Bozo

Anonymous - #31, Thursday, August 13, 2009 - 12:45 PM

The glitch we discovered is: Since the purpose of this promotion is to establish credit, If you have credit, you'll be denied the card and CD! 8-13-09

Anonymous - #32, Thursday, August 13, 2009 - 3:57 PM

I called , it is 4.07%, but only for the first time CC applicant. If you already have Credit Card, they would not accept your application.

Anonymous - #33, Thursday, August 13, 2009 - 7:14 PM

I sure hope they give me the 4% CD, because they wasted no time cashing my check.

john (anonymous) - #34, Friday, August 14, 2009 - 9:10 AM

My check has been cashed ,too. Wonder how long before I get that back ???

larkin (anonymous) - #35, Friday, August 14, 2009 - 12:13 PM

My question to john and anonymous (5:14 August 13) is did they open your CD?

john (anonymous) - #36, Friday, August 14, 2009 - 12:25 PM

Have not seen or heard anything from citi. Why would they cash the check before knowing where it would be going ? I wrote in the memo line of my check " 4.07% 18 month cd " . Bait & Switch ? Fraud ?

Doug (anonymous) - #37, Friday, August 14, 2009 - 1:21 PM

I also wrote "4% CD" on the app and the check, which was immediately cashed. No word from them yet, but if I'm disqualified simply for having good credit, this will be the last time I'll ever deal with Citi.

Mike D (anonymous) - #38, Wednesday, August 19, 2009 - 10:41 AM

Has ANYONE here successfully opened this %4 account ?
Mike D.

Doug (anonymous) - #39, Thursday, August 20, 2009 - 10:29 AM

Well, I mailed in my app and check two weeks ago today.

I checked my email this morning and there was a msg from Citi. Guess what? I was APPROVED!

But we will have to wait til the paperwork arrives to find out the CD rate and the date it was opened.

john (anonymous) - #40, Thursday, August 20, 2009 - 11:19 AM

I also received that email confirming the card approval. and since my MAILING address is different than my physical address - it will be interesting when I receive my card and cd paperwork. I did include three separate notes on my application referring to my MAILING address. If the cd rate is not 4.07% - 18 month , I will consider the whole thing a scam / fraud and file complaints with the proper governing agencies.

larkin (anonymous) - #41, Thursday, August 20, 2009 - 12:41 PM

Congrats on the approvals. That is good news. Hopefully they will live up to the 4.07%.

It occurs to me that they probably wanted your deposit money hence the approval.

john (anonymous) - #42, Monday, August 24, 2009 - 10:00 AM

Received a letter today from CITI- even arrived at my mailing address -stating that a cd has been opened for 18mos. at 4.07%. I will need to read the attached cd agreement to see if there is any fine print that should be large print. I'll report back.

Anonymous - #43, Monday, August 24, 2009 - 3:54 PM

w00t!

So much for all the naysayers.

Doug (anonymous) - #44, Monday, August 24, 2009 - 7:18 PM

John, was the CD opened on the same day they cashed your check?

john (anonymous) - #45, Tuesday, August 25, 2009 - 10:47 AM

Doug - yes it was. From what I have read in the fine print - I will have to keep the card for the duration of the cd - 18 mos. Still waiting for the credit card to come. Do not intend on using it , though. Will have to read that fine print ,also.

Doug (anonymous) - #46, Tuesday, August 25, 2009 - 11:16 AM

I'll be using the card for occasional online purchases, using its Virtual Account Number feature.

Anonymous - #47, Wednesday, August 26, 2009 - 11:04 AM

I already had 2 unsecured Citi cards(9K credit line) when my Citi secured credit card with a 25K 18 month 4.07% APY CD application was accepted.

john (anonymous) - #48, Thursday, August 27, 2009 - 12:20 PM

Card arrived today. also received a "extra cash" offer that puts 10% of of your purchases in to an online account and you can use that money to make purchases on the "extra cash" website. charge 500 a month on the card and 50 goes into this account. That's how I am understanding it.

Anonymous - #49, Saturday, August 29, 2009 - 12:23 PM

I received letter today that CD was opened.

banker (anonymous) - #50, Saturday, August 29, 2009 - 7:10 PM

you can be turned down for the card if you have major derogatories on credit like tax liens and bankruptcy. if you have good credit, will not be a problem. remember, it is like a "reward checking" as the idea is they can pay higher rate because of card usage/interchange fees, so they want to approve, but aren't going to help people with atrocious credit rebuild too easily. as far as annual fee, it will be 2x since you are billed the fee on your 1st months bill and the 13th. BTW, if a citigold account holder, I believe the annual fee is waived. Citigold (checking etc.)requires a $100,000 relationship and this cd will likely not count unless you visit branch to explain and they can put appropriate fee waiver if you deposit remaining $75M or have other portential heloc/mortgage debt w/ citi.

Amit (anonymous) - #51, Wednesday, September 2, 2009 - 2:30 PM

I sent the application and check on 29th Aug. Check has not been cashed yet... will keep all posted.

Doug (anonymous) - #52, Wednesday, September 2, 2009 - 9:57 PM

I finally got to read my paperwork. 4.07% APY, opened the day my check was cashed. Interest accrues daily and is credited monthly. Early withdrawal fee, 30 days' simple interest.

There may be an issue when redeeming the CD: Citi "will close your CC acct and pend closing your CD acct for 21 days to allow for any outstanding transactions to post to your CC acct."

Anonymous - #53, Thursday, September 3, 2009 - 9:32 PM

I opened up a Cd for $20,000. I received my card and also a letter saying my money was in a CD earning the 4.07%.

George

Anurag (anonymous) - #54, Saturday, September 5, 2009 - 5:39 PM

I sent the application for my wife (as she does not have any credit history) and the check was cashed on 9/1/2009 but No email or mail yet.

Lets see how long they take to inform me about the application acceptance or anything else.

Thanks

Anonymous - #55, Thursday, September 10, 2009 - 3:15 PM

Today, I received email notification stating that the application has been approved and I should receive the card within 5-7 business days.

Thanks
A

Amit (anonymous) - #56, Thursday, September 10, 2009 - 3:25 PM

how many days it takes after your check is received to get the e-mail? My check got cashed last week and no e-mail yet.

Doug (anonymous) - #57, Thursday, September 10, 2009 - 3:37 PM

My check was mailed 8/6, received and cashed on 8/10, got the email on 8/19, and got the card on 8/26.

larkin (anonymous) - #58, Thursday, September 10, 2009 - 5:24 PM

Doug--

On what day was your CD opened? Was it the same day as the check was cashed?

thanks for the info.

Doug (anonymous) - #59, Thursday, September 10, 2009 - 6:34 PM

Yes, the CD was opened on the same day the check was cashed.

Anonymous - #60, Wednesday, September 16, 2009 - 11:59 AM

I mailed the apps. and checks 8/26; CDs were opened and checks cashed 8/28 and notice received ~9/6. Credit card arrived ~9/10. Everything looks to be "as advertised". Annual credit card membership fee: "$29 every 12 months", which I take to mean two annual fees will have been charged to the acct. over the course of 18months.
Thank you!
A

Anonymous - #61, Sunday, September 20, 2009 - 9:05 AM

To those who have successfully opened this, can you please confirm whether you have a very good credit history? I have a score of 770 and don't know whether my application will be rejected.

Thanks a lot.

Anonymous - #62, Monday, September 21, 2009 - 12:31 PM

If you apply for a credit card, you
may get a call from 888-201-4523,
with no response when you answer.
Google this number, you'll find
others with this problem.

Regina (anonymous) - #63, Friday, September 25, 2009 - 2:43 PM

Success with opening 2 of these CDs - one for myself and one for my college age daughter. I have excellent credit, with a score over 750. Whole process took about 3 weeks with everything arriving today and nothing to sign and return for the CDs.

Anonymous - #64, Saturday, October 10, 2009 - 2:23 AM

i plan on doing it today. is it still good

Anonymous - #65, Saturday, October 10, 2009 - 3:03 PM

I snet them a check a few days ago, haven't heard anything yet.

Anonymous - #66, Monday, October 12, 2009 - 11:38 AM

How do they credit interest. Do they add it to your credit limit?

dave (anonymous) - #67, Tuesday, October 13, 2009 - 4:58 PM

Got my confirmation letter in the mail today. The rate is still 4.07% APY.

I mailed out my app on 9/24 (Thu). The check was cashed on 9/28 (Mon). Got an email confirmation on 10/8 (Tue) and the confirmation letter today 10/13 (Tue).

So almost 3 weeks from start to finish for rate confirmation.

It looks like the credit limit on the card is the amount you put in the CD.

Anonymous - #68, Tuesday, October 13, 2009 - 8:16 PM

I tried to open this account but was denied for the following reason: Exisitng Citibank cardmembers are not eligible to receive an additional account secured by a Certificate of Deposit :-(
I have 800+ FICOs and I tried for the $25,000 maximum.
Citi cashed my check on 9/18/2009, but did not return my check until 10/13.

Anonymous - #69, Monday, October 19, 2009 - 12:10 PM

Sent them a check early October. They cashed it on October 8th. Received an e-mail that I had been approved for the card October 19with the same limit as the amount I had sent them in the check. Still awaiting cd details etc. I'll keep this post updated.

Anonymous - #70, Wednesday, October 21, 2009 - 6:46 PM

Received confirmation letter today(October 21). Interest rate is 4.07%. So whole process took about 3 weeks.

Anonymous - #71, Wednesday, October 28, 2009 - 3:52 PM

Can anyone point me to the printable version of this application? Can't seem to get a hold of it although many folks have mentioned that they mailed in their application form.

Thanks.

Anonymous - #72, Wednesday, October 28, 2009 - 4:18 PM

I tried online and it didn't work. After I submitted the application and received this message-

We are sorry that we cannot accept your check at this time. Our decision is based, in whole or in part, on information provided to us by TeleCheck. We encourage you to call TeleCheck at 1-877-678-5898 or write TeleCheck Customer Care at P.O. Box 4513, Houston, TX 77210-4513. Please provide TeleCheck your driver's license number and the state where it was issued, and the complete banking numbers printed on the bottom of your check. Under the Fair Credit Reporting Act, you have the right to a free copy of your information held in TeleCheck's files within 60 days from today. You may also dispute the accuracy or completeness of any information in TeleCheck's consumer report. TeleCheck did not make the adverse decision to not accept your check and is unable to explain why this decision was made.

I don't know what that means. My credit score is good (>800).

Thanks.

Anonymous - #73, Wednesday, October 28, 2009 - 6:33 PM

Yes, I got the same message when I tried to open an account for my wife following my successful application via printed application. I couldn't find the printed form that I used before. I called Telecheck and all they told me was it could be because the amount of the check is large and I had no previous history of using Telecheck. If anyone finds a solution, please post it. Thanks

Anonymous - #74, Thursday, October 29, 2009 - 3:52 PM

I have the same experience, being denied because of Telecheck report.
I applied and was approved last month by using the printed appl. form.
Any ideas anyone?

dave (anonymous) - #75, Thursday, October 29, 2009 - 7:57 PM

Link to printable application:

https://www.citicards.com/cards/wv/pdf/SecuredCard_pdf_App_ENG.pdf

rojasla (anonymous) - #76, Thursday, October 29, 2009 - 8:27 PM

Because I was getting contradictory information on whether the rate could change, I did not apply online but called a branch and spoke with a manager who was familiar with the card and was happy to have me come in to apply.
(I already have a checking and savings account at another Citi branch.)
Her assistant tried to do an electronic application but for some reason, she got one of those TeleCheck messages.
She redid the application online but printed up the paperwork and mailed it in the next business day with a Citi cashier's check (The manager waived the fee).
I was afraid I would be denied because I am "over-qualified" already having several Citi credit cards along with others. I had a 786 score 2 years ago and haven't had any problems so it should be about the same.
On 10/16/09 they opened my CD. I only lost a week's interest.

The employee said that she rarely sees anyone apply for this card.
MY ADVICE:GO INTO A BRANCH BUT CALL FIRST TO FIND SOMEONE WHO IS NICE AND KNOWS WHAT THEY ARE DOING.

Anonymous - #77, Sunday, November 1, 2009 - 3:47 PM

The deal is still good. I was able to open one this month after the collapse of Irwin Union Bank.

I don't like Citibank, but this is the best CD deal out as of now. APY is still 4.07% for $25,000 max.

I had credit cards before I applied, so being a new applicant is not a criteria. However, I have a high 700 credit score, which I think is what they look at in approving your application.

Anonymous - #78, Thursday, November 19, 2009 - 4:50 PM

Just received confirmation that my wife's 25K account (in addiiton to my own account) was opened according to the above terms including the 4.07 18th month cd. It was backdated to the day they transferred the money. If you want to know the status of an application call 888-201-4523.

Anonymous - #79, Thursday, December 10, 2009 - 8:07 AM

is the deal still good (Dec 10, 2009)?

Banking Guy (anonymous) - #80, Thursday, December 10, 2009 - 8:37 AM

Yes, it appears to still be available. The 4.07% APY is still listed in the disclosure (link at bottom of this Citibank page). I have some more info at this post.

stella (anonymous) - #81, Thursday, December 17, 2009 - 10:02 PM

for those of you who have this account:
are your receiving quarterly statements showing the accrued interest?

Anonymous - #82, Monday, January 4, 2010 - 11:28 PM

still valid as of Dec 10, 2009. Sent in the application via snail Dec 4. Got my letter of 4.07% apy dated Dec 20, 200.

Anonymous - #83, Monday, January 4, 2010 - 11:39 PM

according to the CD agreement, "Interest is accrued daily and credited monthly. You will earn interest beginning on the day your check or money order is deposited in your Account. The daily balance method is used to calculate the interest on your Account. This method applies a daily periodic rate to the principal in the Account each day. An early withdrawal will reduce earnings. If you close your Account before interest is credited, you will receive the accrued interest."

"You Account will not renew automatically and interest will not be paid after the Account matures."

"If we deem it necessary to continue to require collatoral for your credit card account, you Account will be reinvested at maturity for an additional twelve month period. If your Account is to be reinvested, we will notify you in writing prior to the maturity date. The account shall earn interest at the interest rate and annual percentage yield then in effect."

Interestingly...

"If you do not want to reinvest, you must withdraw your funds within 30 days PRIOR to the maturity date without being assessed a penalty. If you withdraw your funds your credit card account will be closed according to the Account Closure provisions of this agreement"

Anonymous - #84, Monday, January 4, 2010 - 11:48 PM

some conflicting terms in the CD agreement:

"You may withdraw the full amount of your deposit and terminate teh agreement at any time by notifying us in writing. If you elect to close your Certificate Account:

- We will close your Credit Card account, and pend closing your CD account for 21 days to allow for any outstanding transaction to post to your Credit Card account.
- We will assess a penalty of 30 days simple interest if the Account is closed before maturity. This penalty will be first applied against any interest that you have earned then against principal.
-We will deduct the amount owed your Credit Card account from the remaining balance in your CD account.
-We will return any remaining balance to you."


Hmmm. The conflict is the following: so if I do not want to reinvest, I must withdraw my funds within 30 days PRIOR to the maturity date without being assessed a penalty.... but if I withdraw funds prior to maturity, CITI will assess a penalty of 30 days simple interest.

What are people's interpretations?

Anonymous - #85, Wednesday, January 6, 2010 - 8:33 AM

Wow...that sounds like a catch 22. But if they continue to offer same high interst rate for people who want to renew don't suppose many of us will withdraw the funds.

Has anyone had experience with closing out one of these accounts?

john (anonymous) - #86, Wednesday, January 6, 2010 - 9:28 AM

I intend to notify them in writing near the maturity date stating that I want to close AT maturity. Am I missing something that would incur a penalty ?

Anonymous - #87, Thursday, January 14, 2010 - 4:28 PM

How many of this kind of card can I apply?

Anonymous - #88, Tuesday, February 16, 2010 - 2:09 PM

Has anyone withdrawn and incurred said penalty above?  If so, how much did it come to?  Thanks.

Hatter (anonymous) - #89, Wednesday, March 3, 2010 - 8:56 PM

My check was returned to me after some time because this credit card offer is no longer valid.

Holli (anonymous) - #90, Saturday, March 6, 2010 - 10:46 AM

My Check of $25k was also sent back saying offer not valid anymore, and not to send back check.  Per update above, could I send a check for $5,000 (new maximum)?

Anonymous - #91, Sunday, March 28, 2010 - 3:52 PM

Just received a letter from CITI for both my accounts saying "In a recent review of our records, we discovered that we assigned an incorrect cash limit to your Secured Card account. Therfore, the portion of your credit line that may be used for cash has been adjusted to $5,000. We apologize for any incovenience this may have caused."

Let's hope they don't discover a mistake in the 4.07% APR rate they used to open the CD accounts last year,

If anyone has difficulty closing their account or has any news of a drop in their pledged interst rate, please notify us. Thanks.

 

 

Anonymous - #92, Tuesday, May 18, 2010 - 2:00 AM

I and a friend opened a 25k Citi secured cc last Aug. I had poor credit (FICO approx 620), paid tax lien and a few other baddies but nothing bad in the last 2 years. My friend has perfect credit with a long history and high limits. We were both approved. Great card. Love the virtual CC and autopay.

Also got the 5k notification for cash advances. Probably a result of the switch to a 5k limit on new cards. Additionally, I was declined for a 20k purchase when my avail credit was 23k. Called the csr and got escalated a few times as they all found the decline inexplicable. Turned out there was a hidden limit not normally visible that was responsible. The csr tried to do a manual approval but the vendor didn't know how. The csr then called another department to fix it so the charge would go through "the normal way." This worked and everyone was happy. I suspect the hidden limit was related to the recent max drop to 5k for new apps. Good service though it took some time on the phone.

Izabela (anonymous) - #93, Thursday, March 17, 2011 - 2:28 PM

I also opened this CD and mine comes to maturity on April 2nd 2011. Just recieved a letter saying that if I do nothing the CD will be renewed at a rate of 1.00% APY. No phone number to call on the letter. I got the phone number online, hoping to get in touch with Citibank's banking division (as opposed to credit card division which didn't know much about the CD the last time I called) and I'm on the phone with a guy now. Gave him my account number and social and all that but he is unable to pull up the CD account- just the credit card account. Uh oh. Haha. 

He has me on hold right now. Apparently this credit card & CD combo is sort of a unique animal among Citicard's banking products. He is trying to find out right now what department to forward me to in regards to closing it. 

Has anyone else found the easy way to close this CD? I know I should send a letter, and I probably will, but I always get afraid that a letter might get lost or go unopened and then my account would be renewed ... which is the last thing I want. 

Anonymous - #94, Saturday, July 28, 2012 - 12:24 PM

Update to post #92

My card was unsecured 3/11 just prior to the 18 mo. maturity and a check for over 26k was recieved within a few days of maturity. Loved that interest rate.

I did take two hits on TransUnion when they unsecured. I've since product changed the card to a world elite mastercard.

Sadly, it appears Citi is no longer offering a secured card on their web site. It was the best deal going. It not only kick stated my credit after over 10 years of debit card only use but darned nice interest rates.