Citigroup, the country’s biggest credit card issuer, has initiated two customer-friendly initiatives and Clark wants to tell you about them. You may have heard about credit card companies raising rates whenever they want for any reason. It may have even happened to you personally. Credit card terms of service usually include a clause saying the bank can do that anytime. Well, Citigroup, which now goes by Citi, is doing away with that practice. Secondly, the company is no longer going to use what’s called “universal default” to boost your rate. Under a universal default clause, a company can jack up your interest rate significantly if your credit report shows any late payments. That means you could pay your electric bill a few days late and your credit card company increases your rate because that late payment is on your credit report. Citi is eliminating its universal default clause, which is great for the consumer. He hopes others catch on follow suit for their own good.