Released: October 25, 2009

Citibank shows why credit cardholders need protection

Source: David Lazarus, Los Angeles Times (Free Registration)

Ed Myska works as executive vice president of El Segundo’s Bank of Manhattan, so it’s pretty fair to say that he knows a thing or two about keeping his financial house in order.

Yet he was among numerous people who have been notified by Citibank in recent days that the interest rate on their credit cards is soaring to almost 30%.

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