FuturePilot16 From , joined Dec 1969, posts, RR: Posted (6 years 2 months 7 hours ago) and read 2352 times:
Quote: NEW YORK - Citigroup said Monday it is repaying $20 billion in public bailout money, freeing the banking giant from the close scrutiny and pay restrictions that came with the rescue program. The government will also sell its stake in the company.
The key words here are " The government will also sell it's stake in the company". If this does happen, which I think it will, then will republicans keep throwing the word socialist out there? Of course they will, but maybe they'll tone it down a bit. (Yeah right)
NIKV69 From , joined Dec 1969, posts, RR:
Reply 1, posted (6 years 2 months 7 hours ago) and read 2346 times:
Non issue really. The companies that don't want to be told what to do have to give it all back. Which they are doing. Has nothing to do with calling Obama a socialist. His views and those of Pelosi are what lead people to believe that. Not a bank.
Fxramper From , joined Dec 1969, posts, RR:
Reply 3, posted (6 years 2 months 7 hours ago) and read 2329 times:
CriminalGroup? The day they cancelled a bunch of gas cards nationwide they sent me a letter for updating card agreement; they wanted to up finance rate to 29.99%! Too bad I paid the balance and cancelled the reward card two days before. Good job, CriminalGroup!
Muzyck From , joined Dec 1969, posts, RR:
Reply 5, posted (6 years 2 months 7 hours ago) and read 2314 times:
Quoting Fxramper (Reply 3): The day they cancelled a bunch of gas cards nationwide they sent me a letter for updating card agreement; they wanted to up finance rate to 29.99%!
All banks will end up doing the same thing as a result of new "consumer protection" legislation. In the future the banks wil not have the ability to raise the rates of those that fail to make payments. Consumers will be locked in. Banks will balance this by raising all rates. In effect, the legislation will increase the burden on those who have good credit.
Muzyck From , joined Dec 1969, posts, RR:
Reply 11, posted (6 years 2 months 5 hours ago) and read 2256 times:
Quoting Maverick623 (Reply 7): Wrong. Banks will not be able to raise the rates of people (like me) that make their payments on time. Which is how it should be. There's no reason I need to be paying 25% on a 1000 dollar balance.
Agreed. There is no reason that I would keep doing business with a company that charged a high rate if I only had $1,000.00 balance. I would pay off the card and take my business elsewhere. If my overall credit rating is good, the rate will reflect that.If I can't get a better rate than 25%, I would bet that it is a reflection on my credit rating, not the availability of a revolving credit at a lower rate.
Cadet57 From , joined Dec 1969, posts, RR:
Reply 13, posted (6 years 2 months 2 hours ago) and read 2230 times:
Quoting Maverick623 (Reply 12): I assume you're talking about when the new law takes effect in February. Because my rate jumped by almost 15%, even though I've never missed a payment in the 4 years I had my card.
I guess. That said, none of the 3 cards I have (two have no balance) have raised my rates, and one is used for college expenses, so you can imagine what that one looks like
StarAC17 From , joined Dec 1969, posts, RR:
Reply 14, posted (6 years 2 months ago) and read 2214 times:
Quoting Cadet57 (Reply 8): Pay your bills on time and you wont have anything to worry about. It's sad that so many americans cant grasp what should really be a simple concept.
And do it in full, they all make a point to highlight the minimum payment in bold size 24 font and but the full balance in 10 font at the corner of the bill.
Credit cards are the easiest way to gain credit and good luck getting a gym membership, a car, a hotel room or a cellphone without one.
However there will be torches and pitchforks the day they start penalizing people like me who in over 6 years have never paid one cent of interest towards a credit card. I fear this day is coming when people begin to become more responsible and credit card companies start taking from people like me.
Rojo From , joined Dec 1969, posts, RR:
Reply 15, posted (6 years 1 month 4 weeks 1 day 22 hours ago) and read 2194 times:
After being saved from Bankruptcty and the government backing losses during the hard times, it is normal that Citi wants to be out of TARP now that things are back to normal. Therefore, the socialist for losses and capitalist for profits stand that the US government showed last year was unfair for the small banks that did things correctly and were never near bankruptcy. Citi should have been broken in peaces and sold to these small banks.
Overall, the new capitalism is to start a business, grow it till it is too big to fail and once an economic crisis comes, the government will save it from going out of business...