It's almost as if they mean for as many people to default as quickly as possible. Do they get more federal bail-out money if they show bigger losses?
This all started with CitiBank who gave me a 0% card in Nov 08 which I used to transfer a balance from a higher rate card. I stupidly signed up for Email statements. I got one statement in Dec. and paid and then didn't get another statement at all (turns out they had changed their online statement policy and I was supposed to go back online a sign up again...) and the next notice was in Feb. that I was 5 days late and so the interest rate was going to be 29.9%. I transferred the balance back to the first card (at a better rate than I had before, who knew?) but that was a Chase Card and now it's 29.9% too.
This all started with CitiBank who gave me a 0% card in Nov 08 which I used to transfer a balance from a higher rate card. I stupidly signed up for Email statements. I got one statement in Dec. and paid and then didn't get another statement at all (turns out they had changed their online statement policy and I was supposed to go back online a sign up again...) and the next notice was in Feb. that I was 5 days late and so the interest rate was going to be 29.9%. I transferred the balance back to the first card (at a better rate than I had before, who knew?) but that was a Chase Card and now it's 29.9% too.
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