I just received a letter from CitiBank stating that my interest rate is going up by 10% (from an already ridiculous 19.99% to 29.99%, matching their default rate). But, they say, it will be partially offset by a 10% rebate of the finance charges. At first glance, that may seem like there is no change, and I'm sure the misguided management of CitiBank is counting on consumers thinking that. But a 10% rebate on a 29.99% rate amounts to a 3% rebate on principal. So, there is a 7% interest rate hike (even more of a percentage increase if you... read full review »