Citi (NYSE: C): your stock price is trading at $7.20 a share, and I hope it goes to zero. I hate you.
I just got a letter from these bastards saying they want to increase my interest rate 5.5% to a total of 18.99% from 12.49%. No, I haven't missed a payment, on this card or any other debt.
When I called to complain, they simply said they need to raise rates because there's a financial crisis, they need money, and other people are defaulting a lot. I'm so mad at Citi that I'm not going to use their card again. If I have to use a card, I'll find a new one from www.cardratings.com or some other comparison webpage. These guys lost me as a customer, and I'm someone who's historically carried a balance and paid it off at the end of the year (or nearly so).
I've been successfully paying down my debt and at the end of the year I'm going to review and adjust my budget so I'm not in this mess again next year. I declared moral victory over my HSBC card 2 months ago (paying it off in full) and I've been steadily working on my Citi card (I only have 2 cards, total -- thankfully!) so by the end of the year I should have a zero balance. Finally.
Oh, and I've been watching a lot of Dave Ramsey on TV. He gives me inspiration.
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It's not all bad with the bailout. The previous wall st bailout is already making way for you and I, making "cheaper" money available for us to use. Most people don't realize how much money there is out there. During economic times like this, there is more money to be had than ever. Because of the bailouts and economy, lenders are bending over backwards to bail you out too. Believe it or not, there is people getting tons of cheap money nowdays to start businesses, buy homes, pay off debt, and more. Bailouts for Everyone
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