Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
After previously promising to no longer raise interest rates out of the blue for no reason, Citi announced they will begin cranking up APRs for customers who haven't had their interest rate raised in the past 2 or more years. They said on average customers rates would be raised 2 to 3 percent.
I strongly disagree with this move. This is not the best way to do business. In fact it's the worst time to raise interest rates on customers. A lot of good our bailout money is doing to loosen credit.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
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