I would imagine many business owners like me have struggled with reduced cash flow over the past 18-24 months...what more appropriate time to make use of an existing credit line? I have two Citibank credit cards including a Citibank Driver's Edge card that I've had for over 22 years. Never was late on payments; often had a zero balance, received rebates on two car purchases, and systematically established a very substantial credit line. My interest rate in 2007 was 9.9% Over the past year I reluctantly allowed my balance to climb, as my rate also climbed to 14.9%. In November I was late on one payment and..... "bang!"..... late fees, reduction in credit line, and slammed me with a 29.9% interest rate! Discussions/pleas with the representatives are like talking to emotionless robots. Gee, thanks Citibank, for your concern about the hardship your 20-year Customer is experiencing. As if 14.9% interest isn't enough interest to make? Yesterday I withdrew enough money from my IRA to pay off both accounts; frankly I'd rather pay the 10% penalty and pay our government extra taxes that allow Citibank to exploit and benefit from my hardship. Fortunately the economy is begining to cycle-back, my income is growing, and I vow to never to do business with Citbank again; and will take advantage of any opportunity I have to disuade friends, family, and clients from dealing with this huge corporate theif.
Everytime i went to the bank, the attention was correct and i did not spend more than 10 minutes. The attention by telephone and email is very good too.
I also received one of those phony "jetBlue" checks in the amount of just under two-grand. They claim to be an internet survey company and that I somehow contacted them expressing interest for "part time work". This of course is totally false. The post mark is from Madrid so this is not an American scam. Although the check is convincing you don't dare cash it because doing so signifies you agree to THEIR terms. Although I don't fully know how the scam works, it undoubtedly involves your bank account being unknowingly drained at some point.
It's quite sad that people would put so much effort into things like this instead of using their talents to work a real job, and I use the term *people* loosely here because these folks are lower than the amoeba on an evolutionary scale. It takes a real dirtbag to steal other people's money and then accuse the victim of being "greedy" just because they were naive enough to accept what they thought was a genuine paying job of surveying various online retailers. It's all about misdirection with these clowns though...
Anyway, I'm told Citibank wasn't too alarmed by this scam while jetBlue expressed a valid interest in pursuing it. Apparently Citibank has so much extra cash they don't feel the need to do anything about this issue. Funny how that seems to work... :>\