PIRATES OF THE CREDIT SEA – Part 6: Default under the Citibank credit card contract This final article in this series discusses the seven conditions of default under the Citibank / ATT Universal card agreement.
It also expresses my opinions about contractual relationships in general and about the Citibank / AT&T Universal credit card contract in particular.
For a summary of the overall situation, go to Part #1: My Treasure Is Taken!
For an article about your rights to correct billing statements that you receive from financial institutions, go to Part #2: What are my rights?
For an article summarizing how Citibank “managed” my initial written appeal go to Part #3: I want my treasure back!! (Please)
For an article about Citibank’s credit card customer service stonewalling see: Part 4: Hitting the Citibank Stone Wall in Polite Conversation
For an article about having to escalate my appeal at Citibank see: Part 5: I write to the President of Citibank Customer Service
[NOTE: I have finally recovered all my treasure from Citibank. I have received a refund of well over $2,000. Yet, I still have never received any reasonable explanation or justification for this whole mess. My previous articles in this series have detailed this time-consuming ordeal. Recently, I received a telephone call from the office of the President of Citibank Customer Service. This was the first actual "service" that I have received from Citibank during this whole saga. After some discussion, I was told that all default interest charges would be reversed and everything would be reset to the original low interest rate. Even then, Citibank still could not tell me why automated payments had not been processed or why my account was placed into default, after being a very reliable AT&T Universal credit card customer for 15 years. The polite Citibank representative whom I spoke to asserted that Citibank still had the contractual right to put my account into default, even though the minimum monthly payment had been made by check on time and had been recorded by Citibank in October 2006. In essence, I really had no contractual "right" to receive my money back. I was being granted mercy. I deposited the Citibank check that refunded my treasure. I will remember this incident with Citibank for many years.]
With a couple of decades of experience in corporate development, technology licensing, and strategic relationship management in the computer industry, [...]