Comments on: Goodbye Citibank!

By: 2009 Financial Goals | Good Financial Cents

2009 Financial Goals | Good Financial Cents — Fri, 16 Jan 2009 06:02:08 +0000

[...] department store cards, too; for anybody looking for a loop hole. Then begins the process of paying the credit cards off. Here’s a good “snowflaking strategy to [...]

By: Jeff Jones

Jeff Jones — Wed, 14 Jan 2009 06:05:31 +0000

For the love of God.

Citi just got a $300 billion bailout because they couldn’t mangage their business correctly.

And you’re intimidated by some $10 an hour phone rep collections clerk threatening you?

Tell Citibank to go to Hell.

By: Pats Santos

Pats Santos — Thu, 02 Oct 2008 03:47:15 +0000

Hey, I’m stuck now in paying my citi bank bills! I need help. I would appreciate if you could send me an email.

Thanks!

By: Canceling A Citibank Credit Card

Canceling A Citibank Credit Card — Sat, 21 Jun 2008 19:10:10 +0000

[...] –$188,210,000 1mL+0.22% 2002-2 Class A ‘AAA’. –$53,800,000 1mL+0.29%… Google first page:Pay Off Credit Card Debt | beingfrugal.netCanceling a card can impact your credit (FICO) score negatively. Canceling your citibank card could [...]

By: Tom F

Tom F — Wed, 11 Jun 2008 15:26:06 +0000

Lynnae,

you make a good point. you also say you have “good credit”. There is no more important metric for “good credit” than the FICO credit score. In other words, if your FICO credit score is “low” then in the eyes of banks, credit card companies and lenders, you actually do *not* have good credit, reagardless if what you think.

If you haven’t ordered it recently, then you might be surprised. And please be sure to order your FICO credit scores, not any other scores. The credit bureaus are sellings lots of scores that aren’t used by financial institutions and usually vary substantially from your FICO score.

By: Lynnae

Lynnae — Wed, 11 Jun 2008 03:00:24 +0000

Tom,

I’m honestly not too worried about my credit score. We have great credit, and we’re not planning on making any major purchases in the near future.

As far as the universal default, I believe that only applies if you’re late on a payment…which isn’t a problem, since I have no credit card debt! :)

By: Tom F

Tom F — Tue, 10 Jun 2008 18:54:29 +0000

Canceling your citibank card could really reduce your credit score, especially if you have had it for more than two years. 15% of your FICO credit score is based on “length of credit history.”
Once it’s canceled there is nothing you can due–your score will almost certainly go down substantially, which could result in higher interest rates on new credit accounts. It could even hugely your interest rate on other existing accounts in good standing, if your card issuer has a “universal default” policy.

By: Bev

Bev — Sat, 24 May 2008 19:35:17 +0000

WOOHOO!! Doesn’t it feel wonderful!? =0

By: Carnival of Debt Reduction » Blog Archive » Prime Time Money has posted Carnival #140

Tue, 20 May 2008 05:16:22 +0000

[...] Being Frugal waves goodbye to her Citibank credit card debt! [...]

By: Chief Family Officer

Chief Family Officer — Tue, 20 May 2008 04:13:41 +0000

Congratulations, Lynnae!