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Title: Another Strange Day: CitiBank Increased my Rate from 4.99% to 18.99% Today
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Here at 4um
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Published: Nov 9, 2009
Author: buckeroo
Post Date: 2009-11-09 20:15:34 by buckeroo
Keywords: None
Views: 2302
Comments: 74
I received a letter today from CitiBank about the credit card I have with them. It is a Diamond Rewards Preferred Card (the black stealthy looking one) that has a credit ceiling beyond $25K. They have changed their rates on my account from 4.99% to 18.99%. I called their HOTLINE and they say I am an excellent customer with an excellent account with excellent credit and there is nothing they can do about it. That within the current business climate, they MUST remain competitive by extending credit to all customers. Two months ago American Express did the same. And three months ago, Discover Card simply canceled my cards for lack of usage. I have come to the realization that other than business purposes there is no reason for credit cards. Yet, sometimes I can not use my bank debit card at local restaurants and businesses without fees or outright decline. I am afraid, that credit consumerism in America is all but over, even for the most responsible of us.
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#7. To: Jethro Tull (#6)
There's the plan. Have one or two, preferably from a local bank or CU, to be able to rent a car or flight etc, cash for the rest. The CC Mogals have the elimination of cash as their goal. A very bad thing.
"Satan / Cheney in "08" When our daughter went to register for collage she went to the cashier. He said it was some thousands of dollars, check or cc. She said "is cash OK?" She tells me he froze, looked at her and said "I gotta see this". Was only three or four thousand bucks, and she had to help him count it. Save it and pay it, get it over and know where you are. We flip out our suppliers (well they are used to it now) cause when we get a delivery, unless its four or six thousand, we flip em off in cash. Disturbs the newbees. No muss or fuss, just be sure to get them to sign off that they received the cash - from there in it's all their problem. And we are done with the accounting.
"Satan / Cheney in "08" What has happened is the open ended TARP funds have permitted the banking conglomerates to stomp the earlier agreements with their small customers while investing further into HUGE industries. And some want to talk about responsible. By removing credit or increasing rates, the federal government has buoyed HUGE business concerns while simultaneously stomped the private investor and entrepreneurs.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
That's friqqing INSANE. Not that you are asking, I'd gladly give her a line for 6 or 8 % AND I wouldn't pretend we didn't get the payment till after the due date. Let's call this by it's name - Shysters.
"Satan / Cheney in "08" Yes that was the purpose behind your posts. The company I work for has a contract with Kraft. Course I'm switching departments and won't be working with Kraft stuff any more.
Way to go.
"Satan / Cheney in "08" Absolutely. With us, these goofy companies are dealing with people who lived before CCs were around. It's back to money orders and catalog sales if need be. In the end the companies will be the ones to take it on the chin.
For every action [by government], there's always a [negative] reaction. www.boston.com/business/p...rms_hurry_to_raise_rates/ "Credit card firms hurry to raise rates: Some top 30% as new rules loom" 11/06/09
We closed all of our credit card accounts a month or so ago for the exact same reason. My parting comments to them was "fuck you very much." childish yes but it pissed me off that they would dick me like that after 20 years of being a responsible customer. Now if I need plastic I use my debit card. Yet, sometimes I can not use my bank debit card at local restaurants and businesses without fees or outright decline. I've never been charged a fee for using my debit card nor has anyone ever declined it. I guess I've been lucky so-far.
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 The purpose of the legal system is to protect the elites from the wrath of those they plunder.- Elliott Jackalope "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat
Chase jacked my credit card rate from 8.9% to 11.9%. It was a couple of months before I even noticed it. I called and complained. They said there was nothing they could do. So I wrote a $10,000 check on my Chase equityline and paid it off. Now I pay 3.64% on the equityline.
You are amazing in both thought and discovery. You seem to know what I do even though I act innocently while conveying a serious message.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
Buck, guys, We have three CC's that we use. If we get billed for say $525.83, I just round up the payment to $600. 'cause I know that we've jammed it a few times since they've billed us. Besides, it's much easier to write the check in round numbers these days.
BUMP to that post. Indeed my entire family is doing the same.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
Be very careful with the debit cards. Be very, very careful.
Be very, very careful. I have a clause in my contract that protects my account if my card is fraudulently used. The bank will replace all of my money.
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 The purpose of the legal system is to protect the elites from the wrath of those they plunder.- Elliott Jackalope "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat
I just do not understand this, the only declines we ever have is when the carrier has cut off the account. We get nicked 3.53% on a average cc use - that is substantial, esp on a pack of cigs where our margin is 17% or so. Off hand I guess we pay the CC companies $1,900/year on a guesstamated $330,000 revenue. They are BS artists of the first order.
"Satan / Cheney in "08" deleted
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Chase has been sending me a $25 "check" every couple of months that I can spend on Amazon. My roommate tells me it's some sort of "rewards program" for using their credit card. Lately I noticed that I haven't been getting any $25 checks, but when I bought something on Amazon I noticed that I had a $200 credit. One of the choices they gave me was to receive a check for the money. I chose that option and they sent me a $200 check last week which I deposited. I think if you use your credit card and pay it off every month you won't pay any interest, but according to my rooommate you'll still get the $25 Checks. So theoretically, you can get Chase to pay you to use their credit card.
Save, bronze, and frame that clause.
You must be talking about a Merchant Account. Our Bank of America Merchant Account has nasty fees like that. We're in the process of switching to a Costco account. Their fees appear to be a lot better.
You seem to be in the know. You will find me awkward within my next comment as I rarely say that anyone's valued comments are worthy of attention but your valued comments are worthy of attention.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
CostCo/AmEx cards cost nothing, if you're smart enough to pay them off in full every month. And their fuel costs are the cheapest.
I think what you have performed about personal merit is the REAL revolution. I am following your lead; I need a few charge accounts with recognizable signatures for business transactions however and otherwise.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
You ACTUALLY USE the 'pay interest option' with your 'credit cards' ??? LOL You ACTUALLY USE citibank ?????? FOFLOL !!!!!
Wait until the rate change. BTW, I have always enjoyed your posts. Truth and honesty cutting to the chase is a continuous method by your own awesome methods. And thanks for sticking up for me on forums not to be discussed here.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
Not sure what happens if you refuse, i.e., do they cancel the card, etc., but I'm thinking that as long as you're credit is good, they wouldn't do that. You are correct. The existing methods are solid agreements. But the change is the whole point of the thread. I sense issues not about any agreements. It is all about the bankruptcy of America.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
We sold our business a couple of years ago so we were using one as an emergency card and the other we used as convenience and paid off at the end of the month so the % raise didn't really affect us, but it pissed us off.
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 The purpose of the legal system is to protect the elites from the wrath of those they plunder.- Elliott Jackalope "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat
You are right. That wasn't the point though. We've had those credit cards for more than 20 years and have never missed a payment, and over the last couple of years have paid them off completely at the end of every month. As far as I'm concerned they stabbed us in the back, so screw them.
"The Central Intelligence Agency owns everyone of any significance in the major media." ~ William Colby, Director, CIA 1973–1976 The purpose of the legal system is to protect the elites from the wrath of those they plunder.- Elliott Jackalope "When plunder becomes a way of life for a group of men living together in society, they create for themselves in the course of time a legal system that authorizes it and a moral code that justifies it." - Frederic Bastiat
Well stated. But remove credit card transactions from your personal business.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
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Well stated. But remove credit card transactions from your personal business. I just have several checking accounts with usaa.com to pay the bills, and keep tract of everything there.
Hayek Fan: I just do not understand this, the only declines we ever have is when the carrier has cut off the account. Au contraire. Local businesses don't want to pay the 3% overhead anymore.
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
Not sure what happens if you refuse, i.e., do they cancel the card, etc., but I'm thinking that as long as you're credit is good, they wouldn't do that. From an article here: freedom4um.com/cgi-bin/readart.cgi?ArtNum=110077 "...For instance, portions of the new law enacted in August require banks to give customers 45-day notice of any changes in an agreement. Consumers can opt out of an impending increase, keeping their card at the lower interest rate, but only until the card expires. After that, they must apply for a new card. They can also avoid the interest hike by closing the account and arranging to pay off the balance at the lower interest rate..."
Can you still buy a GUN with a credit card these days ? Can you still buy a GUN with a credit card over the INTERNETS in duhhhhhmerrrriKa these days ????
That's why I ALWAYS ask local guys what is their cash discount...if they don't offer any, I jam them with some plastic with reward points. Most are smart enough to see the advantage.
Of course you can. All you have to do is have it sent to a FFL person.
usaa is a globalist company.
Only if you're an idiot or a rotara; same thing.
Beautiful. The last word I got was that one major processor wasn't allowing it anymore with the rest to follow suit as the administrashun clamps down. I would suggest running up what's left on these jewsury cards for anyone that isn't completely prepared with guns, bread, butter, etc.; you know what I mean...
is it a turd ? is it a drain ? NO ! It's fred !!! Same thing...
Comments (48 - 74) not displayed.
Top • Page Up • Full Thread • Page Down • Bottom/LatestOur goal will be to have two cards for convenience, and go back to cash for as much as possible.
#8. To: Jethro Tull (#6)
#9. To: farmfriend (#4)
So Kraft is taking over Cadbury. Interesting.
#10. To: Jethro Tull (#6)
n 790 FICO and JC Penney just notified her that her new interest rate would be 23.99%, up from 12.99%.
#11. To: buckeroo (#9)
"Greenhouse gases do not act as a blanket around the earth and they do not keep the atmosphere warm. ... greenhouse gases emit more radiation than they absorb and this ongoing radiation loss tends to cool the atmosphere at between 1C and 2C per day, a fact known for more than 50 years. And yet we continue to get the simplistic explanation that greenhouse gases warm the atmosphere and so more greenhouse gases will warm the atmosphere more. No wonder the public is taken in!" --William Kininmonth, meteorologist , 1791
#12. To: Jethro Tull (#6)
Anyway, she told them to shove their credit.
#13. To: tom007 (#8)
#14. To: buckeroo (#0)
I am afraid, that credit consumerism in America is all but over, even for the most responsible of us.
#15. To: buckeroo (#0)
(Edited)
#16. To: buckeroo (#0)
#17. To: farmfriend (#11)
Yes that was the purpose behind your posts.
#18. To: buckeroo, all (#5)
#19. To: Jethro Tull (#6)
Our goal will be to have two cards for convenience, and go back to cash as our first line of payment.
#20. To: Hayek Fan (#15)
#21. To: Lod (#20)
Be very careful with the debit cards.
#22. To: Hayek Fan, buckeroo (#15)
Yet, sometimes I can not use my bank debit card at local restaurants and businesses without fees or outright decline.
#23. To: buckeroo (#0)
#24. To: All (#0)
#25. To: Hayek Fan (#15)
"Now if I need plastic I use my debit card."
#26. To: Hayek Fan (#21)
#27. To: tom007 (#22)
"We get nicked 3.53% on a average cc use - that is substantial, esp on a pack of cigs where our margin is 17% or so. Off hand I guess we pay the CC companies $1,900/year on a guesstamated $330,000 revenue."
#28. To: scrapper2 (#14)
"Credit card firms hurry to raise rates: Some top 30% as new rules loom" 11/06/09
#29. To: Big Meanie (#27)
#30. To: Hayek Fan (#15)
We closed all of our credit card accounts a month or so ago for the exact same reason.
#31. To: buckeroo (#0)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams 
#32. To: Big Meanie (#16)
Now I pay 3.64% on the equityline.
#33. To: Eric Stratton (#23)
If you have an existing card, I'm pretty sure that you can reject those changes. They usually send out a "change" notice and in it is almost always (never say never/always) instructions for refusing the changes.
#34. To: buckeroo (#30)
I need a few charge accounts with recognizable signatures for business transactions however and otherwise.
#35. To: Big Meanie (#25)
I think if you use your credit card and pay it off every month you won't pay any interest,
#36. To: Lod (#18)
... it's much easier to write the check in round numbers these days.
#37. To: buckeroo (#33)
#38. To: buckeroo. all (#36)
... it's much easier to write the check in round numbers these days.
#39. To: tom007 (#22)
buckeroo: Yet, sometimes I can not use my bank debit card at local restaurants and businesses without fees or outright decline.
#40. To: Eric Stratton, buckeroo (#23)
If you have an existing card, I'm pretty sure that you can reject those changes. They usually send out a "change" notice and in it is almost always (never say never/always) instructions for refusing the changes.
#41. To: buckeroo, All (#39)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#42. To: buckeroo (#39)
Local businesses don't want to pay the 3% overhead anymore.
#43. To: Rotara (#41)
Can you still buy a GUN with a credit card these days ?
#44. To: Lod (#38)
I just have several checking accounts with usaa.com to pay the bills
#45. To: Rotara (#41)
Can you still buy a GUN with a credit card these days ?
#46. To: Lod (#43)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#47. To: fred mertz (#45)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
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