ivan salis
Platinum Member
- Joined
- Feb 5, 2007
- Messages
- 16,794
- Reaction score
- 3,812
- Golden Thread
- 0
- Location
- callahan,fl
- 🏆 Honorable Mentions:
- 1
- Detector(s) used
- delta 4000 / ace 250 - used BH and many others too
- #1
Thread Owner
citibank yanks rug from under att universal * card- rate jumps from 10 to 25%
yep -- credit giant citibank * who is one of the "bailout" banks given govt money (given to keep lines of credit "open" to the public) has yanked its backing of att univeral credit cards ---triggering the interest rate charged to jump from 10% to 25% ( this is for a person with a good credit history --no missed or late payments ) basically doubling the minimum monthly amount owed each month --(hell loan sharks only charge 20% -- 6 for 5) so folks have to tell em to freeze their debit currently owed at the past 10% rate and that the card will no longer be used. (but of course it still has to be "paid off" over time) --in effect they are "shutting you off" credit wize --- ( because who in their right mind would borrow money at the "new" 25% interest rate? )---citibank has in effect took the govt money, promising to keep it in play and then by raising the interset rate thru the roof "froze out" borrowers for accesssing it .(and in effect by shutting down folks line of credit they are calling in all past debt* owed ) --so citibank gets the govt money --(pocketing it )--or only loaning it a "loan shark" rates -- effectivily freezing folks line of credit ( and how does "freezing credit" simulate anything? which is supposed to be the whole purpose of the govt "bailout") and as an added bonus you and I get to pay higher taxes in the future to "repay" the money they got from the govt.
I say if their going to screw normal folks like that (cut off credit / charge "loan shark rates")-- then screw em -- let em fail , since what use are they to the general public ? --why should I thru govt money ( aka as "taxes") bail the blood suckers out?
folks ---we are all being had.
yep -- credit giant citibank * who is one of the "bailout" banks given govt money (given to keep lines of credit "open" to the public) has yanked its backing of att univeral credit cards ---triggering the interest rate charged to jump from 10% to 25% ( this is for a person with a good credit history --no missed or late payments ) basically doubling the minimum monthly amount owed each month --(hell loan sharks only charge 20% -- 6 for 5) so folks have to tell em to freeze their debit currently owed at the past 10% rate and that the card will no longer be used. (but of course it still has to be "paid off" over time) --in effect they are "shutting you off" credit wize --- ( because who in their right mind would borrow money at the "new" 25% interest rate? )---citibank has in effect took the govt money, promising to keep it in play and then by raising the interset rate thru the roof "froze out" borrowers for accesssing it .(and in effect by shutting down folks line of credit they are calling in all past debt* owed ) --so citibank gets the govt money --(pocketing it )--or only loaning it a "loan shark" rates -- effectivily freezing folks line of credit ( and how does "freezing credit" simulate anything? which is supposed to be the whole purpose of the govt "bailout") and as an added bonus you and I get to pay higher taxes in the future to "repay" the money they got from the govt.
I say if their going to screw normal folks like that (cut off credit / charge "loan shark rates")-- then screw em -- let em fail , since what use are they to the general public ? --why should I thru govt money ( aka as "taxes") bail the blood suckers out?
folks ---we are all being had.