Citigroup Sucks Ass
January 28th, 2009Citigroup gets $45 billion of public money, and I get two letters from Citi informing me that they are raising my APR to 19.99% on my two Citibank credit card accounts. I’ve never paid late, keep a modest balance, and have excellent credit — I can’t imagine what the new rates are for people with bad credit! And if I miss a payment the rate is increased to 29.99%! That’s having your cake, eating it, and adding a scoop of ice cream and an entire apple pie on the side. The Depository Institutions Deregulation and Monetary Control Act was enacted during times of inflation. In this time of recession, rate limits should no longer be exempted. The new administration needs to revisit usury laws and tighten up regulation of credit card companies.
[Variations sent to CNN reporters, President Obama, Arnold Schwarzenegger, and a slew of other high-profile people -- minus the "ášš-sucking" part]
March 1st, 2009 at 11:11 pm
Also be aware that they are sending out a notification of a change in their terms of service.
If you do not contact them by March 31st 2009 to opt out and close your account, then any
dispute you may have with them goes automatically to arbitration and you lose your right to
a day in court. And yes it’s legal. You need to look for a pamplet they included with your bill that looks larger than a privacy statement.
March 1st, 2009 at 11:13 pm
And yes, citigroup sucks ášš big time. I’m at 27 point something percent now I believe.
I’m seriously debating taking a serious hit on my credit and letting it go unpaid.
I’ve already opted out and closed the account.
July 19th, 2009 at 11:07 am
Similar happened to me - recent long time Citi cartd holder (+7 years) sent notes sayimg both accounts purchases will go to 29.99%. When asked they said every card members rate is going to that. This company needs to be put out of business. I am ready to do just that to them by enlisting thosands of voters (cardholders) to pressure congress. That is the only real power we have - the ability to put politicians out of work.
August 18th, 2010 at 4:50 am
Richard, Wanted to email you a question about your magic keywords plugin but couldn’t find any email address. Can you email me? Japhy. PS - I think this is a phenomenal idea…