Another Rant.................CitiBank Stupid Also

[Deleted member 3577]

Just got a notice today...
They have raised my APR to 18.99% (from what I don't know)

I want to send them a letter...
"Make it 100% and see if I care"

Apparently I'm not alone.
That's not gonna be good for their business.

 

[TRDejaVu]

You're not looking at the big picture. How are they going to pay the Mets $400 million for the naming rights to their stadium if they don't get the money from either you or the government. If that doesn't happen then the bigwigs won't be able to spend time in the corporate boxes. Really, some people are just plain selfish.

I have never understood the benefit of stadium naming rights or placing a bank name on airport jet-bridges. Can someone smarter than me (that will be a long line-up) tell me why seeing a financial institution name will make me want to rush out and get a credit card or open a bank account with them? It just seems like CEO vanity to me. But what do I know...

 

[tony barnhill]

Lots of small businesses are closing because they can't get the necessary credit to stay afloat...Ann Taylor, for example, can't get the credit to purchase the Spring clothes they need in their 150 stores so they're shutting the doors.

 

[DNK]

...Ann Taylor, for example, can't get the credit to purchase the Spring clothes they need in their 150 stores so they're shutting the doors.

That will just kill my wife!

 

[DrEntropy]

Just got a notice today...
They have raised my APR to 18.99% (from what I don't know)

I want to send them a letter...
"Make it 100% and see if I care"

Apparently I'm not alone.
That's not gonna be good for their business.

Can you say: "BANKRUPTCY"???

Many will.

"Watson, the game is afoot!"

 

[DNK]

Best way to battle that is to cut the card up and send it to them with a note to why you did it. More fish in the sea.

 

[tony barnhill]

...Ann Taylor, for example, can't get the credit to purchase the Spring clothes they need in their 150 stores so they're shutting the doors.

That will just kill my wife!

And my daughter - she called to tell her mother about it.

 

[Deleted member 3577]

Can you say: "BANKRUPTCY"???

Found an old statement 12.4% (2 months ago)
That makes it a 6.6% increase.

I can't think of anything I did to upset them.
(Besides being a 'freeloader'

)
And I've been a 'member' for 17 years?

Sounds like they are trying to squeeze eggs outta the golden goose by strangling it :eeek:

 

[martx-5]

Re: Another Rant.................CitiBank Stupid A

Same thing happened to me last month. Well, now they are going to get NO interest. I paid off the two cards that I have and that's that! No more cards. I had to borrow from the 401K, but that's in the tank anyway.

 

[Brooklands]

Re: Another Rant.................CitiBank Stupid A

It has been years since I paid any credit card interest. It has been too high for a long time in my mind anyway. Consumers Union has been contacting legislators to limit the interest rates for a few months now. Sounds like their protests are still failing to register with Congress.

 

[vagt6]

Re: Another Rant.................CitiBank Stupid A

CitiBank isn't stupid, they're just exceedingly greedy. The unrestrained quest for expansion beyond any reasonable limit.

Now, everyone suffers.

It's an old story, nothing new here except the date.

 

[tony barnhill]

Just got a notice today...
They have raised my APR to 18.99% (from what I don't know)

I want to send them a letter...
"Make it 100% and see if I care"

Apparently I'm not alone.
That's not gonna be good for their business.

Can you say: "BANKRUPTCY"???

Many will.

"Watson, the game is afoot!"

But, bankruptcy isn't right for the auto industry?

 

[Deleted member 3577]

Re: Another Rant.................CitiBank Stupid A

Well, now they are going to get NO interest.

That's what I'm thinking...
They are begging for money and forcefully taking money at the same time from the same people.

I have 2 reasons that I like their card.
1) A 17 year history looks good on a credit report.
2) I get the bill on the 23rd & it's not due until the 8th.

That's why I got rid of AmEx...
(As soon as you get that bill you better have it in the mail)

I'm struggling with the fact that I'm supporting a corporation with questionable morality.

The big 3 reasons people listed for going over the edge were mortgage resets, credit cards & fuel prices.
(Many reported that 2 of the 3 wouldn't have done it)

 

[tony barnhill]

Re: Another Rant.................CitiBank Stupid A

That's why I got rid of AmEx...
(As soon as you get that bill you better have it in the mail)

Not the case with my Platinum AMEX...I get the bill on the 8th & its due on the 23rd...funny how those numbers are simply reversed!

 

[mailbox]

Re: Another Rant.................CitiBank Stupid A

Same thing happened to me last month. Well, now they are going to get NO interest. I paid off the two cards that I have and that's that! No more cards. I had to borrow from the 401K, but that's in the tank anyway.

Did the EXACT same thing. Considering what I was paying in interest versus what I was LOSING in my Thrift Savings Account (401K like), I believe I MADE a ton of money paying those greedy #^%$!%^(^ off.

 

[Scott_Hower]

Can you say: "BANKRUPTCY"???

Found an old statement 12.4% (2 months ago)
That makes it a 6.6% increase.

I can't think of anything I did to upset them.
(Besides being a 'freeloader'

)
And I've been a 'member' for 17 years?

Sounds like they are trying to squeeze eggs outta the golden goose by strangling it :eeek:

Simple.

Call them back. Tell them you're taking your business elsewhere unless they reduce your rate back to what it was. I don't normally carry a credit card balance, unless I'm making a major purchase. But whenever I get one of these ridiculous letters, I immediately call and they reduce it.

So long as you have been a good customer, they'll deal.

 

[Brooklands]

Re: Another Rant.................CitiBank Stupid A

Call them back. Tell them you're taking your business elsewhere unless they reduce your rate back to what it was. I don't normally carry a credit card balance, unless I'm making a major purchase. But whenever I get one of these ridiculous letters, I immediately call and they reduce it.

So long as you have been a good customer, they'll deal.

Scott,
Excellent advice. Companies do not want to lose good customers, so if you appeal to them, they may adjust your account. It is definitely worth a try.

 

[Scott_Hower]

Re: Another Rant.................CitiBank Stupid A

CitiBank isn't stupid, they're just exceedingly greedy. The unrestrained quest for expansion beyond any reasonable limit.

Now, everyone suffers.

It's an old story, nothing new here except the date.

Actually CitiBank is stupid.

They dug themselves into the hole they're in and they deserve to go under. Their CEO, top leadership team and the BOD ought to forfeit any bonus/stock awards for the foreseeable future and be held accountable for their bad decisions. They should all take a 50% pay cut effective immediately. Of course that will never happen.

And Joe American Consumer is partly to blame as well for "unrestrained quest for expansion beyond any reasonable limit". The fact that people either boght more than they could afford and/or used their homes as giant AMT machines to buy all sorts of crap and now can't afford the mortgage is what lead to most of this credit/financial mess.

Live within your means people. And stop using my tax dollars to pay for your flat panel TV - or whatever it is you bought that causes you to miss your mortgage payments.

 

[Tinster]

Re: Another Rant.................CitiBank Stupid A

CitiBank isn't stupid, they're just exceedingly greedy. The unrestrained quest for expansion beyond any reasonable limit.



And Joe American Consumer is partly to blame as well

I thought Joe was John McCain's plumber in need of a bail out!

d

 

[14dna]

Re: Another Rant.................CitiBank Stupid A

Boys;
Before we get on a "bash CITIBANK" crusade, my wife works for them in the Mastercard division.

First off, call them as they will talk to you about the rate.
I won't say they will reduce it, but they will listen.

Secondly, her and all the other employees are not responsible for what a fellow did two years ago. As I said in another thread, these problems of finances started a long time ago, and will take a long time to repair.
Finger pointing is not going to help.

Sorry, but sometimes these attacks can get personal without that intention.

Dave