Citibanks doing what every bank should do....
 

to a college kid. and im sure all banks do this. but..anyways.

so i got a citibank credit card. some ridiculous APR. dividends. etc. all that crap.

I got a 500 dollar limit since its my first card. But i ordered tires off of tire rack for 300$ then went in personally to citibank to pay off the balance so that i could buy brakes and not go over my limit. Paid it off...the next day(looked at postmark date) citibank sent me three blank checks with my name. No limit whats so ever. Read the fine print.
14% apr of course.


so hows that for trying to rape a college kid. Christ.
Giving me three blank checks..lol.
I shredded them and took out the trash. lol.
anyways.
Just wanted to acknowledge what everyone already knows...credit card companies are trying to screw you as early as three weeks into owning one.

It's so unreal. I have heard this from people I know too :bash

No shame in their game . . just business. I learned early on that no one is out there to look out for you, especially if it's about your money :(

duh... they're just trying to rape you...

that's why i co-signed a CC with my parents. banks don't try messing with me and i get to reap the benefits of my parents very good credit rating (in the 700's). hopefully that will move into mine :)

I need a credit card :doh :lol

Credit cards can be the devil, but they are handy! Get one through a credit union and you won't get raped as bad. My wife and I get upwards of 15 credit card offers a week in the mail.

I hate those stupid ass fake checks they send you. Usually mine say something like 0% transfer interest or some shit like that. I see no real point in then, EVER. My credit card is at 7.9%APR. Its from Wachovia. But, you know, you really don't have to worry about paying interest if you buy and pay off in the same billing period.

Dough

i have citi too. 1000 limit, 14 percent apr ... i use it to just build up my credit score; buy everything with it then pay it off as soon as i get the statement. it earns me cash dividens too -- 5 percent for any gas/grocery purchase, 1 percent for rest -- and since i pay right away, its actually making me money. i just got a 60 dollar check a few days ago.

oh yeah, i also got a 100k credit card offer with 7.9 percent apr the other day ... i almost went and bought a brand new m5 or something.

heh, i have a 15k limit... i originally asked for 1.5k... hmmm

man you woulda been screwed if you did that ;) but at least you would enjoy the drive!

Just be sure to read the fine print and work everything to your advantage. I am actually going to use the checks CapitalOne sent me. I bought my living room set on store credit from a local place. I got a 6 months same-as-cash offer, but will not have paid it off by the end of the six months (this june). The thing is that they will charge me interest for this whole time unless I pay it off by the ned of the offer period. So I am going to pay off the rest using one of the checks I got from Capital, and then pay that off in three or four months. I will end up paying the same interest rate, but only for three months instead of nine.

yea. all these thigns sound familiar.

I got the same card Torque.

yea my mom offered to cosign with me cause they have great credit. But i figured i can do it on my own.

next time they buy a car though im gonna cosign..thatll help my credit alot.

Just make sure they don't hit you with the 3% cash advance rate, capitalone sends them to me in every statement but in the very fine print they add a 3% fee upfront. So I shred them and forget it.

I'm taking an Economics 340: Money and Banking class right now. And we're talking about credit cards.

Imagine that. :D

You have to be careful, the banks in which you issue your credit card issues the interest rates through Visa and MasterCard.

Fyi Discover is the highest and is only taken in select locations
because of their high rates.

It's better than using large amounts of cash, althought nice....credit cards and checks are suppost to be used to pay for large expenses. The credit card companies love screwing over college students and first time credit card users....that's how they make their killing. People aren't responsible for what they spend....cashing checks they don't have the finances to fund.

Anwho

Thanks for the post :thumbup