Wednesday, April 14, 2010

CItibank Creditcard interest worse than loan Shark.

I have never actually "not" fully paid my credit card bills, until last month, where I accidentally paid $314 less than the full amount.

When I later found out earlier this month, I looked at the interest rate of 24%, and though it was rather high, but as I intend to pay off this month, 2% per month for $300 is about $6, so I did not really get around to do it.

To my horror, the credit card statement I received today showed

INTEREST on $314.60 - $60.24

This comes up to 229.77 percent. YES THIS EXCEEDS 100%.

I have used credit cards for more than 15 years, and in many countries, and have never been charge 229.77% for interest before, and I would like to inform people with Citibank Credit Card to clear off all their outstanding balance as INTEREST RATES are worse than that of your local loan shark, or even any other loan shark you find in Geylang, Chinatown, Woodlands and near Turf Club.

This means that if you don't have enough money to pay, borrow from a loan shark at 100% per year, or pawn your valuables. You WILL SAVE MONEY as interests are not as high as that from your credit card.

With the financial crisis that just happened, I don't understand why in Singapore, the credit cards can charge such high interest rates, when everything else is so monitored.

Confused.

Robin Low

11 comments:

Randall said...

Dude,

Your interest applied is on both your previous month's unpaid balance AND the incoming charges to the card. For example, you left $10 unpaid from last other month's bill but charged $1000 for the most recent month, your interest is applied for S10 PLUS $1000. Just learned it myself. Look under "interest charges" in the biling statement

bai said...

Doh! guess this is a learning experience even after 15 years of use.

Credit cards plain and simple, they're out to earn your money.

Ali Mohammad said...

Hello Everybody, My name is.Mrs.Juliet Quin. I live in Canada and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of $ 73,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of $ 73,000.00 Canada Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs.Juliet Quin that refer you to him. Contact Dr Purva Pius via email: reply to email (urgentloan22@gmail.com)


LOAN APPLICATION FORM:
=================
Full Name:................
Loan Amount Needed:.
Purpose of loan:.......
Loan Duration:..
Gender:.............
Marital status:....
Location:..........
Home Address:..
City:............
Country:......
Phone:..........
Mobile / Cell:....
Occupation:......
Monthly Income:....

Contact Us At :urgentloan22@gmail.com

Rohith said...

Yes, you are absolutely correct.your blog is giving very useful knowledge for all, i'm sharing your information to all friends.
Am providing credit card to cash chennai at low interest.

Dr Purva Pius said...

Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

BORROWERS APPLICATION DETAILS


1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..

Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com

Dr Purva Pius said...

Hello Everybody,
My name is Mrs Sharon Sim. I live in Singapore and i am a happy woman today? and i told my self that any lender that rescue my family from our poor situation, i will refer any person that is looking for loan to him, he gave me happiness to me and my family, i was in need of a loan of S$250,000.00 to start my life all over as i am a single mother with 3 kids I met this honest and GOD fearing man loan lender that help me with a loan of S$250,000.00 SG. Dollar, he is a GOD fearing man, if you are in need of loan and you will pay back the loan please contact him tell him that is Mrs Sharon, that refer you to him. contact Dr Purva Pius,via email:(urgentloan22@gmail.com) Thank you.

BORROWERS APPLICATION DETAILS


1. Name Of Applicant in Full:……..
2. Telephone Numbers:……….
3. Address and Location:…….
4. Amount in request………..
5. Repayment Period:………..
6. Purpose Of Loan………….
7. country…………………
8. phone…………………..
9. occupation………………
10.age/sex…………………
11.Monthly Income…………..
12.Email……………..

Regards.
Managements
Email Kindly Contact: urgentloan22@gmail.com

urgent cash offer said...

Good day everybody my name is Mrs.Irene Query few months back i was financially strained i rushed to my bank to apply for a loan to start up my business but i was denied by my bank because of my credit score and they could not help and due to my desperation i was scammed by several online lenders who promised to help me but at the end i was scam i lost my money and my hope because i was so frustrated, One day when i was going through the internet again i found one lender call Dr Purva Pius i thought to give it a try one more time to my biggest surprise he was able to lend me a secure loan totally the amount of $300,000 for the first time in my life i realize that there are few lender who don't scam people his name is Dr Purva Pius i will advice any body that are in need of loan to contact him with his Email (urgentloan22@gmail.com) he can be able to help you because he was a God sent to me this year and i will never forget him for the help he render to me. contact him via email:(urgentloan22@gmail.com) Thank you.

urgent cash offer said...


Are you in need of a loan? Do you want to pay off your bills? Do you want to be financially stable? All you have to do is to contact us for more information on how to get started and get the loan you desire. This offer is open to all that will be able to repay back in due time. Note-that repayment time frame is negotiable and at interest rate of 3% just email us creditloan.11@gmail.com

Ahmed Moshood said...



Are you looking for business loan


Peace and God's Blessings be upon you and your household, Do you need financing? Do you need a loan for business or personal needs and project funding? Do you want to refinance your business? . We offer a loan for each person or company with an interest of 2% per year. For more information, please contact us by jacksonmortage_inc@outlook.com
the following details to proceed.
Full name:
Gender:
Marital status:
Occupation:
Country:
Contact Address:
Monthly income:
The requested loan: the amount of
Loan Duration:
Telephone number:
whatsapp mobile number:+917757854371 or +17472450577
The reason for the loan:

frank said...


CLEAR YOUR DEBT APPLY FOR A GOOD LOAN HERE GET APPROVE IN 3HRS
Hello, Do you need a loan from The most trusted and reliable company
in the world? if yes then contact us now for we offer loan to all
categories of seekers be it companies or for staff usage. We offer
loan at 3% interest rate, Contact us via email:
trustedbusiness01@gmail.com

(1) Full Name
(2) Full Address
(3) Country
(4) Age
(5) Occupation
(6) Tell phone number
(7) Sex:
(8) Loan Amount needed:
(9) Loan Duration

Email us at: trustedbusiness01@gmail.com

John Sewell said...

Apply for a loan today with your loan amount and duration, Its Easy and fast to get @ 4% interest rates and monthly installment payments certified private Loan company approved by the Government.

We give out international and local loans to all countries in the world, Amount given out ( $2,500 to $10,000,000 Dollars, Euro and Pounds.)

FOR MORE INFORMATION:

Email: johnsewell396@gmail.com

phone# :(646) 580-4839
Mr.John Sewell