Hi Jean. This is typical for Citi. In the case of your CitiFlex account, the best thing to do would be to call them and tell them that you wish to Opt-Out, in which case your loan remains at 8.99% until the loan is paid off, and of course they close your CitFlex account. Even if you don't do this, they will most likely ratchet down your credit limit on the account anyway, and then when you are finished paying off the loan at 14.99%, they will have lowered your limit to almost nothing and they will probably close your account anyway. If you Opt-Out of the changes to your rate, at least you keep the lower rate until your loan is paid off.

As far as your other two accounts are concerned (you didn't mention if they are credit cards), but if they are, you can do the same thing with them, if you have balances that you are paying down. If you don't have balances on them, and you pay your credit card card bill every month, then it doesn't matter what the new higher interest rate is, because it will never apply to you, and you shouldn't cancel them because you are mad at Citi, and I'll explain why below.

Several of the other people have said that they are so upset with Citibank that they are going to cancel all their Citi credit cards. This can be a mistake. If you cancel a credit card, then your overall credit limit goes down, and your limit to loan ratio goes up, which then causes your credit score to go down. The best thing to do is just keep the high-interest Citi cards open and don't use them, or if you do use them, pay off the balance due during the grace period. Then your credit score will not go down, and Citi won't make any interest money from you. :)