Comments on: Citi Gets Bailout, Still Plans to Up Interest Rate http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/ Our goal is to educate people on credit and debt topics. Wed, 30 Sep 2009 13:48:37 +0000 http://wordpress.com/ hourly 1 By: Shon http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-706 Shon Wed, 30 Sep 2009 13:48:37 +0000 http://credit101.wordpress.com/?p=53#comment-706 I agree with all of you that we the consumers need to make some serious noise about this nonsense! If there's a petition out there, I will definitely sign it. The CEOs are maxin and realxin, while we can't afford groceries, gas, daycare, etc. This should not be happening in America. I agree with all of you that we the consumers need to make some serious noise about this nonsense! If there’s a petition out there, I will definitely sign it. The CEOs are maxin and realxin, while we can’t afford groceries, gas, daycare, etc. This should not be happening in America.

]]> By: gloria czapnik http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-236 gloria czapnik Wed, 04 Mar 2009 02:26:36 +0000 http://credit101.wordpress.com/?p=53#comment-236 3-3-09 In response to Lisa's comment (12/9/08: My husband & I have had a Citibank card for 30 years with an excellent payment history and high credit score. We have had a 0% interest for a couple of years. A few months ago we received an opt out letter stating that if we didn't agree to their terms of higher interest, that Citibank would cancel our card at the card's exiration date of 2010. We would coninue to get 0% interest until 4/09 and then the rate would go to 6.99 until the card expired. My husband & I were concerned that if the economy didn't turn around that we may need the Citibank card, so we agreed to their terms. I called Citibank today (3-3-09) and the customer service rep stated that after 4/09, our rate of interest would go to 8.99. He also stated to call closer to 4/09 and ask to get a better rate of interest. I have read on various websites that Citibank is doing this to many customers that agreed to their terms. I think there should be a petition for customers to sign and send to the CEO's of Citibank. Maybe if they received thousands of names, they would have a different outlook. Bailing these banks out was a waste of time and money and it's always the taxpayers that end up paying for their mistakes. My husband & I are both furious with Citibank's way of doing business with loyal customers and will drop them if something better comes along. 3-3-09
In response to Lisa’s comment (12/9/08:
My husband & I have had a Citibank card for
30 years with an excellent payment history and high credit score. We have had a 0% interest for a couple of years.
A few months ago we received an opt out letter stating that if we didn’t agree to their terms of higher interest, that Citibank would cancel our card at the card’s exiration date of 2010. We would coninue to get 0% interest until 4/09 and then the rate would go to 6.99 until the card expired. My husband & I were concerned that if the economy didn’t turn around that we may need the Citibank card, so we agreed to their terms.
I called Citibank today (3-3-09) and the customer service rep stated that after 4/09, our rate of interest would go to 8.99.
He also stated to call closer to 4/09 and ask to get a better rate of interest.
I have read on various websites that Citibank is doing this to many customers that agreed to their terms.
I think there should be a petition for customers to sign and send to the CEO’s of Citibank. Maybe if they received thousands of names, they would have a different outlook. Bailing these banks out was a waste of time and money and it’s always the taxpayers that end up paying for their mistakes. My husband & I are both furious with Citibank’s way of doing business with loyal customers and will drop them if something better comes along.

]]> By: Happy New Year from Credit 101! « Credit Cards, Credit Reports, and Debt Topics http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-92 Happy New Year from Credit 101! « Credit Cards, Credit Reports, and Debt Topics Wed, 31 Dec 2008 23:46:17 +0000 http://credit101.wordpress.com/?p=53#comment-92 [...] for the New Year with regard to credit, including the fact that some credit card companies (like Citi) are increasing interest rates and that FICO is rolling out a new credit score formula. And, of [...] [...] for the New Year with regard to credit, including the fact that some credit card companies (like Citi) are increasing interest rates and that FICO is rolling out a new credit score formula. And, of [...]

]]> By: New Credit Card Regulations Offer Consumer Protection « Credit Cards, Credit Reports, and Debt Topics http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-79 New Credit Card Regulations Offer Consumer Protection « Credit Cards, Credit Reports, and Debt Topics Thu, 18 Dec 2008 17:29:48 +0000 http://credit101.wordpress.com/?p=53#comment-79 [...] rates changed on a whim, for no apparent reason. (Citi is a prime example of [...] [...] rates changed on a whim, for no apparent reason. (Citi is a prime example of [...]

]]> By: Citi, AIG Enjoy Bailouts; Auto Industry Bailout: EPIC Fail - Mortgage Rate News http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-71 Citi, AIG Enjoy Bailouts; Auto Industry Bailout: EPIC Fail - Mortgage Rate News Fri, 12 Dec 2008 15:41:37 +0000 http://credit101.wordpress.com/?p=53#comment-71 [...] generous bailout by making sure executives get their bonuses and by jacking up interest rates on credit cards. But they’ve got their money, while the auto industry is on the verge of failure — and [...] [...] generous bailout by making sure executives get their bonuses and by jacking up interest rates on credit cards. But they’ve got their money, while the auto industry is on the verge of failure — and [...]

]]> By: mmarquit http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-69 mmarquit Thu, 11 Dec 2008 16:28:30 +0000 http://credit101.wordpress.com/?p=53#comment-69 I've not seen anything really new on it. I think Congress is more worried about other things. But, really, credit card reform should be implemented. Credit card companies should be required to have some sort of standards before doing this sort of thing. Current agreements allow card companies to be rather capricious. I’ve not seen anything really new on it. I think Congress is more worried about other things. But, really, credit card reform should be implemented. Credit card companies should be required to have some sort of standards before doing this sort of thing. Current agreements allow card companies to be rather capricious.

]]> By: LISA http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-68 LISA Tue, 09 Dec 2008 22:52:29 +0000 http://credit101.wordpress.com/?p=53#comment-68 Has anyone heard anything new regarding this subject (Citi raising rates after receiving bailout funds)? I have been searching every day to see if there has been any attention given to this issue. I heard that CNN was going to do a report on this, but have not been able to find anything. And yes, I have already called my state representatives. Enough is enough. I have stayed quiet too long. We have to find a way to fight back! Has anyone heard anything new regarding this subject (Citi raising rates after receiving bailout funds)? I have been searching every day to see if there has been any attention given to this issue.

I heard that CNN was going to do a report on this, but have not been able to find anything.

And yes, I have already called my state representatives. Enough is enough. I have stayed quiet too long. We have to find a way to fight back!

]]> By: vikram pandit http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-64 vikram pandit Sat, 06 Dec 2008 23:29:52 +0000 http://credit101.wordpress.com/?p=53#comment-64 Citi CEO Vikram Pandit will address employees today about the bank's reduction in workforce, reports CNBC's Charlie Gasp... G20 Plan Enough? As world leaders at the G20 meeting agree on further coordinated action in an attempt Citi CEO Vikram Pandit will address employees today about the bank’s reduction in workforce, reports CNBC’s Charlie Gasp… G20 Plan Enough? As world leaders at the G20 meeting agree on further coordinated action in an attempt

]]> By: jerrialchristian (Apply For A Credit Card) http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-52 jerrialchristian (Apply For A Credit Card) Tue, 02 Dec 2008 10:01:32 +0000 http://credit101.wordpress.com/?p=53#comment-52 It's true...100%....We should think of our benefit by this also. It’s true…100%….We should think of our benefit by this also.

]]> By: Credit Card Christmas: Resist the Temptation « Credit Cards, Credit Reports, and Debt Topics http://credit101.wordpress.com/2008/11/24/citi-gets-bailout-still-plans-to-up-interest-rate/#comment-42 Credit Card Christmas: Resist the Temptation « Credit Cards, Credit Reports, and Debt Topics Mon, 01 Dec 2008 14:54:12 +0000 http://credit101.wordpress.com/?p=53#comment-42 [...] the TARP program is all about encouraging increased consumer debt. Credit card rates are falling (everywhere but Citi). And people have been saying that it’s “patriotic” to spend money in order to [...] [...] the TARP program is all about encouraging increased consumer debt. Credit card rates are falling (everywhere but Citi). And people have been saying that it’s “patriotic” to spend money in order to [...]

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