People are outraged lately with Citi (C), because the bank is jacking up credit card rates and cutting of customers without notice. We asked them for comment and here's what VP of Public Affairs Samuel Wang had to say:

“Citi has decided to close a limited number of Oil partner co-branded MasterCard accounts. Citi continuously evaluates how to best meet the needs of its retailer partners and, in consultation with our partners, we periodically make adjustments to the products we offer consumers.”

That's not too helpful, and it doesn't address the thousands of people who have had their interest rates jacked up to 29.99%.

So we pinged Bill Hardekopf, CEO of Lowcards.com on the matter, and here are some key points he mentioned: