Comments on: Citigroup Hikes Credit Card Rates Just in Time to Avoid New Laws http://www.businesspundit.com/citigroup-hikes-credit-card-rates-just-in-time-to-avoid-new-laws/ Entrepreneurship, Startup Companies and Business Philosophy Fri, 20 Nov 2009 20:31:15 -0600 http://wordpress.org/?v=2.8.5 hourly 1 By: Bob Poole http://www.businesspundit.com/citigroup-hikes-credit-card-rates-just-in-time-to-avoid-new-laws/comment-page-1/#comment-15397 Bob Poole Wed, 01 Jul 2009 20:04:27 +0000 http://www.businesspundit.com/?p=12523#comment-15397 Just in - Advanta Corp, the small business credit card lender that recently shut down its accounts for future use, has entered into two agreements with the Federal Deposit Insurance Corp., including one involving alleged “unsafe or unsound” practices that requires it to refund up to $35 million to customers. I wonder why the government didn't go after them with RICO? Just in – Advanta Corp, the small business credit card lender that recently shut down its accounts for future use, has entered into two agreements with the Federal Deposit Insurance Corp., including one involving alleged “unsafe or unsound” practices that requires it to refund up to $35 million to customers. I wonder why the government didn’t go after them with RICO?

]]> By: Jeff Schwandt http://www.businesspundit.com/citigroup-hikes-credit-card-rates-just-in-time-to-avoid-new-laws/comment-page-1/#comment-15391 Jeff Schwandt Wed, 01 Jul 2009 15:55:57 +0000 http://www.businesspundit.com/?p=12523#comment-15391 One way or the other, American consumers will learn to pay cash and/or pay off credit card balances monthly. Guess the credit card companies are counting on the ol' "sucker's born every minute" adage to stay in business. This sucks for small businesses though. One way or the other, American consumers will learn to pay cash and/or pay off credit card balances monthly. Guess the credit card companies are counting on the ol’ “sucker’s born every minute” adage to stay in business.

This sucks for small businesses though.

]]> By: Bob Poole http://www.businesspundit.com/citigroup-hikes-credit-card-rates-just-in-time-to-avoid-new-laws/comment-page-1/#comment-15390 Bob Poole Wed, 01 Jul 2009 15:35:13 +0000 http://www.businesspundit.com/?p=12523#comment-15390 It's not just Citi. Add Chase, Bank of America and the despicable Advanta who took rates to 35% plus and also canceled every small business card in the country. Every single one of these banks has raised their rates into the mid to high 20's. And, nobody in our government will ever do a thing about it. It’s not just Citi. Add Chase, Bank of America and the despicable Advanta who took rates to 35% plus and also canceled every small business card in the country. Every single one of these banks has raised their rates into the mid to high 20’s. And, nobody in our government will ever do a thing about it.

]]> By: Nona http://www.businesspundit.com/citigroup-hikes-credit-card-rates-just-in-time-to-avoid-new-laws/comment-page-1/#comment-15389 Nona Wed, 01 Jul 2009 14:58:40 +0000 http://www.businesspundit.com/?p=12523#comment-15389 What a horrible move. I hope anyone that has any type of citi card cancels it pronto. Thank God I dont have any citi accounts otherwise I would cancel them asap/ What a horrible move. I hope anyone that has any type of citi card cancels it pronto. Thank God I dont have any citi accounts otherwise I would cancel them asap/

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