Offer 04 Moved To Standard Purch
In the comments section, we have some readers that questioned the line item OFFER 04 MOVED TO STANDARD PURCH in their credit reports.
Line item OFFER 04 MOVED TO STANDARD PURCH means that an offer of a 0% balance transfer granted to a cardholder is now expired and the conditions move back to the percentages of standard purchases measured in APR.
Offer 04 is the offer of a 0% balance transfer, normally with CITI cardholders. On the date indicated in the line item, the condition returns to the percentages that apply in typical purchases concluded with the credit card. For example, the 14.99 % of APR, but this APR should be analyzed case by case.
In the case that this modification in the contractual conditions with the card issuer is unexpected, your next step should be to call customer service and try to solve it through a customer service representative.
The Executive Resolution department will be also involved. This is better for you, so the issue is investigated quickly by the card issuer.
In this case, generally speaking, if the balance had been moved to a higher interest rate, the law states that any amount paid above the minimum balance must be applied to the highest interest rate.
In your request to the CSR and or to Executive Resolution, ask them to send you a statement on which date the offer 04 expired, so you were made responsible for the higher interest rate after this date.
Likewise, request the issuer (CSR and or Executive Resolution) to state in writing this situation. If nothing is obtained from this process, take note of the complaint number because you can access the Consumer Financial Protection Bureau.