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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit Card Oddness Date:  10/18/2005  11:17 AM
Author:  TMFTwitty Number:  212781 of 312992

Ah, should have known:

After extolling its new features, Citibank's Simplicity card offer warns that late payments could trigger an increase in the interest rate charged on balances as well as a negative credit report. Such reports often cause other lenders to boost interest rates on a consumer's other outstanding debts.

So they are after the ones that habitually pay late, but do pay, so they can kick the rate. But they can do that anyway...

Bottom feeders.

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