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gageflame
Joined: 15 Feb 2009
Posts: 383
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Posted: Fri Nov 20, 2009 12:30 pm Post subject: Here come that old Credit card push again!
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NEW YORK – For Citibank credit card holders, there is one way to escape the bank's rate hikes currently under way: Meet a monthly spending requirement.
Those who meet the spending minimum — in some cases $750 a month — will be able to get a rebate on their total interest charges for that month. The rebate could cover some or all of the interest rate hike. Customers also need to make payments on time to qualify for the rebate.
http://news.yahoo.com/s/ap/20091120/ap_on_bi_ge/us_citi_spending_required
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dictators_rule
Joined: 08 Jul 2003
Posts: 6309
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Posted: Sun Nov 22, 2009 5:38 am Post subject: they don't get it
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I guess the price gouging credit card companies haven't detoxed from almost a decade of exorbitant profits & unsupervised enviorment. Theses execs have got to realize it the 'business as usual' days of the last administration are gone.
Citi is slick on this though. Not only would Citi collect interest & fees of off many card holders they get to charge 1-3% commission to the stores that accept their cards. So you spend 750$ a month thats around 21$ in commission from one customer alone a month. And there will probably be thousands of customers/Citi credit cards users doing that.
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Nofsdad
Joined: 06 Jul 2003
Posts: 8380
Location: Central CA
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Posted: Sun Nov 22, 2009 6:44 am Post subject:
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| Theses execs have got to realize it the 'business as usual' days of the last administration are gone. |
You know, as much as I would love for that to be true, I just can't bring myself to believe it. Even when they change something that might be for the better they give the corporate aholes a year or two to a) gouge the living crap out of us for as much as they can get before any clamps actually go on and b) come up with new and even more creative ways to screw the living crap out of the unwashed masses.
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gageflame
Joined: 15 Feb 2009
Posts: 383
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Posted: Sun Nov 22, 2009 12:50 pm Post subject:
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It seems to me that these credit card companies are trying to drag everyone into head over heels debt with them. I'm wondering too if they won't eventually bring back the send them to prison mentality if people can't pay. I don't bother with credit cards myself, and have no desire to get in over my head.
Times are tough with so many people out of work and losing their homes and this just keeps on going on. The rich just keep getting richer and richer and the poor just struggle to get by. I may be delusional but I'm beginning to think my parents are right and it's time to now run some of this big credit card and bank officials out of town tarred and feathered and on a rail. After all how many fancy cars can one person drive, how many houses can they live in at one time, and how many actually need a tennis court or a yacht?
I WOULD not have a Citibank card if someone held me at gunpoint and that's just the way I feel about it. Nor will I push them on an unsuspecting person without giving them the full details. It is against my integrity to do so and no amount of writeups and crap will force me into it..
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