Comments for Interesting Money

Comment on VISA Black Credit Card – Exclusive or Egotistic? by dave

dave — Wed, 17 Mar 2010 16:28:02 +0000

I’m confused, I had the platium for over a year and qualified for the black amex. I really enjoy the platium since I travel a lot and have used many of the benefits germane to travel (especially international)

Now I have the option of paying 2500 for the fee (up from 450 when comparing to the platinum) and 5000 for the card (they call it an initiation fee). I told amex to waive the fee, trying to convince the fuckers that they are making a fortune on fees from my spending. Now VISA BLACK is an option (495) which I’m considering to use, but their are only two complimentary lounge visits (vs. unlimited with the platinum/black). I just don’t want to look like someone that’s trying to be something he’s not. I’m not rich, but well off, and do use the benefits a lot with these premium cards.

Any advice from someone that really had an experience with both of these cards. I’m probably just going to stick with the platium (unless someone can give me a compelling reason no to)

Cheers

I don’t know what to do, I’m in an ego driven industry (shit investment banking) where people get off on that having some stupid carbon card.

Comment on Citi Adds $60 Annual Fee to Many Cards – Watch Your Mailbox by Dee

Dee — Mon, 15 Mar 2010 01:05:16 +0000

Citi is charging long-standing customers who use their cards infrequently, have high credit limits, low balances or no balances, unblemished payment histories, and high credit scores an annual fee of $60. The logic behind doing this is really no mystery. Citi assumes that these card holders will be so worried about hurting their FICO scores that they will pay the fee. It makes sense to go after this segment because these are the people who are always on time with their payments and who are fiscally responsible and care the most about their credit scores and access to credit. Of course, the decision makers at Citi anticipated some or even many will choose to cancel their cards, but they also anticipated, as any financial company will, that many will stay and use their cards more frequently. Citi probably even had an analysis done of how many accounts would be closed in order to determine if the company should go ahead with the fee.

However, only if customers unaffected by the annual fee also cancel their cards then Citi may reconsider or realize they have made a mistake. It will take the majority of Citi’s customers to make Citi rethink it’s new strategy. In other words, for a “revolt” to be effective even those with newer accounts,lower credit scores and credit limits, high balances, and blemished payment histories, will have to cancel their cards and pay off their balances.

At least, this is my analysis.

Comment on Citi Adds $60 Annual Fee to Many Cards – Watch Your Mailbox by chuck

chuck — Fri, 12 Mar 2010 03:55:32 +0000

I to got the infamous $60 anual fee letter,we all need to make sure these credit card company’s get the message that we’re not going to tolerate this crap,cancel cancel,cancel!

Comment on The Fall of Chase Freedom – Continued Commentary by A.Bundy

A.Bundy — Fri, 12 Mar 2010 02:31:04 +0000

i cashed in $200 for $250 back in December 2009 and will cash in the $50 i have left by the end of March. I have calculated that with their rotating categories and the fact that i can no longer get $250 for 200 rewards funds, it will cost me four times more in spending to match what i previously made under the old program. Manipulation of terms and offers makes no difference, as there is ALWAYS a bottom line, and after that line, starts Capital One rewards visa. hey, there are no loyalties in business, only negotiations and expensive brunches.

Comment on Citi Adds $60 Annual Fee to Many Cards – Watch Your Mailbox by Jan

Jan — Wed, 10 Mar 2010 02:05:53 +0000

I have had my Citicard since 1995. It was a $50.00 fee and got AA miles. Since I can’t really afford to travel like I used to, I am not concerned about amassing miles any more. I paid off every month. First the bailout, then the interest raise, then the arrogance of this company. Then the Move Your Money movement, then I got a local Credit Union card and I am now letting my citicard roll each month for a little while with a $2.99 monthly automatic charge I will pay with a check each month. They will make nothing on that if you consider labor. I will cancel before the next yearly fee comes along and I will be delighted. I hope Citibank is having some very bad days.

Comment on Grandfathered Sprint SERO Upgrade – Tips and Advice by john bexter

john bexter — Mon, 08 Mar 2010 21:26:52 +0000

i email ecare first they renewed my contract by 2 years in exchange of $70 credit in my bill…got samsung reclaim for $0 thanks to web special…

Comment on Citi Adds $60 Annual Fee to Many Cards – Watch Your Mailbox by Marco

Marco — Sun, 07 Mar 2010 23:23:54 +0000

I received the letter regarding the $60 annual fee dated 2/13/10. On 3/7/10 I called Universal Card at the number listed on my card, not the number listed on the letter. I told the CSR that this card was originally offered as “no annual fee for life”. After searching for the appropriate response, the CSR offered to transfer my call to an account manager. After a short time on hold, the manager took my information and I held while she reviewed my account. I mentioned that I had originally signed up as a “charter member”. Manager advised that based on her review, she would submit a request to have the changes to the TOS removed from my account, that the process should take 2 – 5 business days and that I would not be billed the $60 annual fee. I was also told that I would receive a letter confirming that this had taken place. So now, I’ll wait to see if the letter arrives and whether or not the fee will be billed in April. It would appear that managers now have been given some flexibility in dealing with inquiries of this sort. I have to say that the manager I spoke with was very courteous, responsive, and polite. I was even given the manager’s company ID number. After having read the replies left by others, I was very pleasantly surprised with the outcome of my call. I was reluctant to close this account due to the negative impact it may have on my FICO score, but I agree that the $60 fee is completely wrong. I would reccommed at least calling and speaking to a manager before “opting out” and closing your account if you are concerned about possible negative impact on credit score.

Comment on Grandfathered Sprint SERO Upgrade – Tips and Advice by Mr. B

Mr. B — Sat, 06 Mar 2010 05:34:41 +0000

Yep, I’m using it. Overall, I like it. Unlike my old Moto Q, the Reclaim hasn’t had a single crash, and the battery lasts for 3-4 days of typical usage. I’m slower at texting with the Reclaim, but I can’t really complain about it. The pros outweigh the cons, and I’m happy with my new phone.

Comment on Grandfathered Sprint SERO Upgrade – Tips and Advice by chunnu

chunnu — Fri, 05 Mar 2010 21:38:33 +0000

Are you using Samsung Reclaim? how do you like it? I am also thinking of buying this phone. Please let me know about the phone.

thanks in advance
chunnu

Comment on Citi Adds $60 Annual Fee to Many Cards – Watch Your Mailbox by Suzy

Suzy — Thu, 04 Mar 2010 19:17:42 +0000

For those of you who are carrying balances on the cards they are trying to sock an annual fee upon,I believe you can call citi and “Opt Out.” I think they cancel your purchasing power on the card so you can no longer make purchases, but you keep the balance and interest rate terms that were agreed upon when you made the transfer or purchase (ie. 2.99% until balance is paid in full). If you have a balance anyway, then you probably aren’t making purchases, so who cares if the card is cancelled. Plus, now you get to keep the same terms to pay off the balance without paying the annual fee or trying to transfer the remaining balance elsewhere. This is the way I understood the “Opt Out” form that I received. I could very well be wrong, but it is worth a shot if you are looking to cancel the card, but do not know where to come up with the money to pay off the balance.

I didn’t read all of the posts, so someone may have already posted something on this. If that is the case, then I am sorry for repeating what might have already been said.