Re: CitiCard
- From: "-DirtBagŠ" <dirt@xxxxxxxxxxxxx>
- Date: Fri, 8 Feb 2008 10:15:32 -0800
"Lawyerkill" <Lawyerkill@xxxxxxx> wrote in message
news:1291e651-190d-43a6-b1cd-e05be436f8cd@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
On Feb 8, 12:49 pm, "-DirtBag(c)" <d...@xxxxxxxxxxxxx> wrote:Blash had some info on Credit card debt he shared a while back which
"Lawyerkill" <Lawyerk...@xxxxxxx> wrote in message
news:8196cc96-0ce5-43d1-8087-ce36e5b4182f@xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
I had a question about my Citicard credit card. I call up and I get
someone in India and I can't understand her. I asked to speak with
someone else, she keeps talking. Finally I yell at her that if I can't
speak to someone else I want to cancel my credit card. She says, "Oh
you want to cancel Card?" I said, yes. She puts me on hold for 3
minutes. Someone that can speak English gets on the phone and ask me
why I want to cancel my card, I explain that I didn't, but I wanted to
talk to someone that I could understand.
I ask him the question that I tried to get answered by the Indian
lady, he answers it in 1 minute. I say thank you and good by, he says
wait and tells me he's going to lower my interest rate on my card. I
tell him that's not needed because a have no other cards that I owe
money on so I don't needed to transfer any balances from any other
card to Citicard because I don't owe anyone. He says it will reduce
any interest payments on any banace with Citicard. I tried to explain
to him that I never carry a balance over, I pay in full every month.
The guy will not take no for an answer. We go back and forth for
another 5 minute, in between I'm put on hold 3 more times. Finally I
said OK lower my interest rate and then he let me off the phone.
How do these idiot stay in business?
With oil money infusions!- Hide quoted text -
- Show quoted text -
"The major credit-card lender in mid-January sent letters notifying
some responsible cardholders that it would more than double their
rates to as high as 28%, without giving an explanation for the
increase, according to copies of five letters obtained by
BusinessWeek. Fine print at the end of the letter--headed "Important
Amendment to Your Credit Card Agreement"--advised calling an 800-number
for the reason, but consumers who called say they were unable to get a
clear answer. "No one could give me an explanation," says Eric Fresch,
a Huron (Ohio) engineer who is on time with his Bank of America card
payments and knows of no decline in the status of his overall credit."
Businessweek
indicated that the default rate on credit cards was hanging like a shadow
over some CC lenders and the bundled debt ( i fotgot the term used) is like
rotten lumber. Looks good on the outside.. but it is too soft to support a
building. . This debt is bundled up and sold much like the mortgage
paper which was hung all over the place. Delinquencies are up at an
alarming rate I have read. I am just repeating info I have heard and I am
not in the industry so take it for that.. It makes sense that it is "that'
little secret that is not yet openly divulged.. Some of the best 'paper
hangers' in history are working overtime...
.
- References:
- CitiCard
- From: Lawyerkill
- Re: CitiCard
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- Re: CitiCard
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