CitiBank Strikes Again
Most consumers are aware that the credit card vendors are raising their rates, lowering limits, enacting fees, and just outright closing accounts of their card holders before the new law comes into effect in Feb. 2010. Credit card holders must always remember that the credit card vendor will never look out for your interests; only their own. You are their meal ticket and they want you fattened up. This is all about making money off of (or taking from) the consumer and enriching the banks.
Now comes CitiBank with their latest attempt to appear as the white hat good guys riding in on their white horses to offer the card holder a way to reduce their interest rates. By using circular logic they offer you a reduction of the interest rate (that they just jacked up) if you regularly spend more. (I smell a trap at the pass awaiting all who enter there.)
Please read the linked article below and be aware that this is probably just the first of many more schemes and gimmick offerings by the credit card industry to get deeper into your pocket and keep their hand in there longer.
I don't know if I should recommend you take aspirin or oxygen as you read this. But I will say this: BEWARE - THE CONTENT OF THIS ARTICLE COULD BE VERY HARMFUL TO YOUR FINANCIAL HEALTH.
http://www.thestreet.com/story/10630251/1/citigroup-gets-creative-to-boost-cards.html
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