Interesting interest rate - BMW Luxury Touring Community
 
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post #1 of 15 Old Feb 14th, 2010, 10:23 am Thread Starter
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Interesting interest rate


http://finance.yahoo.com/banking-bud...bb-creditcards

Just Go
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post #2 of 15 Old Feb 14th, 2010, 12:33 pm
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Re: Interesting interest rate

WTF is right.......................WOW................
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post #3 of 15 Old Feb 14th, 2010, 1:19 pm
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Re: Interesting interest rate

Along the same line . . .

Received a letter from Citibank
(BTW, the card was canceled months ago due to a zero balance and no activity for a year)
Anyway

Dr Mr . . .
We're writing you to let you know about an important change we're making to your account. Effective April 1st, 2010, an annual fee of $60 is being added.

The reason we are making this change is to maintain the quality of our service amid the rising cost of doing business. However, because we value you as a customer, we wanted to give you an opportunity to have the annual fee credited back to your account.

Here's how it works. Each year, we'll credit the $60 fee back to your account once you have made $2,400 in purchases during the year. That comes to an average $200 in spending a month, an amount you can reach by using your credit card you already make, like gas, groceries, cell phone plans or your cable bill.

As always, you have the right to opt out of this change and close your account. Please read the notice of Change in Terms and Right to Opt Out on the back of this letter so you are fully aware of all your account changes. If you have any questions, call 1-866-915-9425

Sincerely
Ken Stork
Citibank (South Dakota), N.A.

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post #4 of 15 Old Feb 14th, 2010, 2:31 pm
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Re: Interesting interest rate

Can you say "loan shark"???

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post #5 of 15 Old Feb 14th, 2010, 3:59 pm
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Re: Interesting interest rate

I am now completely plastic free. I never had a ATM or Debit card & now have no credit cards. I only miss two things. Buying gas at the pump & making purchases on the internet. When I travel now I do it like I used to do in the 70s. I have cash waiting for me along the way so I don't have to carry much with me.

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post #6 of 15 Old Feb 14th, 2010, 4:15 pm
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Re: Interesting interest rate

Quote:
Originally Posted by saddleman
I am now completely plastic free. I never had a ATM or Debit card & now have no credit cards. I only miss two things. Buying gas at the pump & making purchases on the internet. When I travel now I do it like I used to do in the 70s. I have cash waiting for me along the way so I don't have to carry much with me.
yeah, but that hurts your credit sooooo bad.....

Neil '00 K1200LT '08 KLR
"Far away, is far away...
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post #7 of 15 Old Feb 14th, 2010, 4:25 pm
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Re: Interesting interest rate

I read recently that most credit card will begin to charge an annual fee and to be careful that you read the extra paperwork "Notices" that arrive with your bill explaining the new service.

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post #8 of 15 Old Feb 14th, 2010, 4:43 pm
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Re: Interesting interest rate

Sounds like they penalize you for not creating debt and paying them interest.

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post #9 of 15 Old Feb 14th, 2010, 4:51 pm
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Re: Interesting interest rate

Quote:
Originally Posted by ironbuttwannabe
yeah, but that hurts your credit sooooo bad.....
Ask me if I care!!!. Getting rid of one credit card isn't that big of a hit on the rating.

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post #10 of 15 Old Feb 14th, 2010, 5:00 pm
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Re: Interesting interest rate

One of the reasons I carry the American Express card. The fees are paid back in spades by the services, it's a charge card - not a credit card, and if a business doesn't take it, they don't get my business.


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post #11 of 15 Old Feb 14th, 2010, 5:06 pm
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Re: Interesting interest rate

Quote:
Originally Posted by saddleman
Ask me if I care!!!. Getting rid of one credit card isn't that big of a hit on the rating.
No I'm with you!!!! I got rid of my Bank of America card because I was tired of getting a letter in the mail every week of "changes to my account". I think people my age now-a-days think the only way to gain credit is to charge everything. I'm not braging about credit....but at least for me, credit cards mean nothing in the overall picture

Neil '00 K1200LT '08 KLR
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post #12 of 15 Old Feb 14th, 2010, 9:19 pm
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Re: Interesting interest rate

Quote:
Originally Posted by ironbuttwannabe
No I'm with you!!!! I got rid of my Bank of America card because I was tired of getting a letter in the mail every week of "changes to my account". I think people my age now-a-days think the only way to gain credit is to charge everything. I'm not braging about credit....but at least for me, credit cards mean nothing in the overall picture
Bank of America is the card I had. After what seemed like a different policy every other week I wanted to just shoot a hole in it mail it to them and say your next.

Dave Selvig
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post #13 of 15 Old Feb 15th, 2010, 7:29 am
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Re: Interesting interest rate

Quote:
Originally Posted by saddleman
When I travel now I do it like I used to do in the 70s. I have cash waiting for me along the way so I don't have to carry much with me.


Ok tell us how, whatya selling?

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post #14 of 15 Old Feb 15th, 2010, 8:57 am
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Re: Interesting interest rate

One of the things that article said was any legislation to fix these issues was sqashed by the powerfull and wealthy banking lobby...

This is just whats wrong with our country... The people don't run it anymore the folks with the money do.....
The letter of the law and politilcal influence are bought and paid for by the wealthy...

This is no longer a free country,,, It's a pay country....

I'm still waiting on that terminal diagnosis so that I can start the revolution...

John

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post #15 of 15 Old Feb 17th, 2010, 3:07 am
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Re: Interesting interest rate

Yes, we call this "the golden rule." Thems that gots the gold makes the rules!

I have been C/C free since mid-year, 2009. I found out that even a 25 year relationship with AMEX was meaningless to them! Instead of being financially lazy, I'm now my own C/C.

"Those who would give up essential liberty to purchase a little temporary safety, deserve neither liberty nor safety." (Some really OLD friggin' White dude who couldn't have possibly known what he was talking about!) WARNING: Official HATE speech!
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