Thursday, December 18, 2008

Time for the credit card companies to Cut The Crap

Hallelujah! I am so happy to see the fed finally dealing with this. I quit using Citibank years ago when they sent me a bill for 23 cents after I had paid in full the month before. They failed to explain to me how that was not deceptive and I am just lucky I caught it before they charged me a late fee and raised my interest rate. I cut the damn card up and mailed it back to them along with a check for 23 lousy cents - and demanded they close my account. I had had that account for over 10 years and they did nothing to correct the incident or otherwise try to keep me.

Now Citibank is "repricing" "certain" customers anywhere from 6% to 19% due to no fault at all on the part of the cardholder. What a sham!!!!!!!!!!

Anyway, I think these new rules are a pretty good holiday present, even if they dont go into effect until July 2010. I give the fed 2 snaps up for this!


1 Comment:

MrBold said...

This legislation is long long overdue. I wish they'd speed it up frankly. It's credit cards that strapping home owners who are trying to pay their mortgage.


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