For No-Fee-For-Life Card Holders: 55 to 44 days warning!

[Baysider]

Last time I closed a credit card account (Amex blue card) I received a letter from them within a week offering a better card (Gold Card) on a "fee-free-for-life" basis.

 

[vandy]

I recently got this card, about 2 months ago, and on my initial letter stating $0 fees etc. I noticed this clause which I had not seen or heard of anywhere before.

I found it quite amusing that they would penalise those people who were responsible with their finances. But looking at it form their perspective, I supppose CitiBank make little to no money off those who don't pay any fees or interest.

They will probably trick quite a few people into paying interest this way.

Do they have to give you a certain amount of notice before applying this change to your account or can they just change the due date on your statement?

 

[wafliron]

I found it quite amusing that they would penalise those people who were responsible with their finances. But looking at it form their perspective, I supppose CitiBank make little to no money off those who don't pay any fees or interest.

They make more money if you pay interest, but they also make money every time you use the card. They're just being greedy.

 

[oz_mark]

I had a card for three years before they got around to invoking the clause on me, so it may or may not happen within the year.