Citi can drop dead

[C-bus Biker]

Just to throw in a dash of context... when we say freeloaders I dont want everyone to just think of "Cracky" on the corner and the big screen TV in the tenement.... Google Yellowstone Club "bankruptcy" lots of poor and middle class defaulters would need to declare bankruptcy (most of them/us because of medical expenses) before they could come close to the criminals at bank Suisse and the like... I would call myself a fiscal rationalist... Don't regulate... Persuade people to regulate, large scale speculation in an open market should call for appropriate risks... If I gamble Im in debt... Im I gamble with money that employs people I should be in debt and without limbs...

If you purchase an item via credit card, declare bankruptcy prior to paying the credit card company, and then keep said item.... you have stolen it. Hence you are a free-loader and my interest rates go up to cover. However, I am in total agreement with your post and am not naive to the fact that there are much greater forces at work than the guy who couldn't pay his bills. Just clarifying my position.

 

[ozzieboy]

Never had a CC. Debit only for me. That way I can still do all the groovy things a CC will do (paying for stuff online or at the store) but only if I've got the dough.

If all the creditors take the same path (as seems likely) then an awful lot of folk are also going to dump cards they don't use or want and consolidate somewhat. If this happens they will all take a credit rating hit, so relatively speaking you will be at the same credit rating level with reference to everyone else (not exactly, but close enough).

Cheers
Mike

 

[FizzySix]

Similar story here, except it's with Bank of America:

I have a BJ's Wholesale Club credit card, and Bank of America is the bank behind it. They recently hiked the rate on it to 25%! As others have said, calling and inquiring about a lower rate often reduces it, but they wouldn't budge. So, that one is going to be paid off next month. When they mailed the notice of the increase they did indicate that you could "opt out" of the change, but the card would be immediately cancelled and the full balance due.

Here's the crazy part: I also have a "Worldpoints" card, which Bank of America is also behind. The interest rate on that one is 9%.

Same bank, same customer, two wildly different interest rates - one almost triple the other!

I'm thinking they just charge whatever they think they can get away with.

Why did we bail out these banks again?

 

[dean owens]

I'm thinking they just charge whatever they think they can get away with.

i agree with that statement and have no problem with them doing it. charge whatever you can. and i will decided not to use you. it's the way the system works.

Why did we bail out these banks again?

to make people feel good and think that the government was fixing everything. smoke and mirrors my friend. my opinion obviously.