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CitiBank -- The Borg???


Wyndo
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Maybe I'm crazy, but I think consumers should have the right to make decisions regarding what companies we do or don't give our business to. I choose not to deal with CitiBank. I've found them to be more trouble than they're worth, and in my experience their customer reps are some of the stupidest, nastiest people I've dealt with. That's my opinion. Right or wrong, I don't wish to deal with Citibank.

Last year, my wife's long-standing student "Associates" credit card was acquired by CitiBank. Frustrating, but it happens.

This year, she consolidated her student loans. It seemed like a good idea, but apparently this company *immediately* sold it to CitiBank. My guess is, they're a front-end, and it was no coincidence. Again, very frustrating. But at least it wasn't Sallie Mae.

But I'm at my wit's end, now. My home loan, through Principal Residential Mortgage, is now being serviced by CitiBank (well, CitiMortgage). This just breaks it. The loan is only two years old. I don't like the idea of refinancing my home just to get away from CitiBank, but I'm thinking about it.

This isn't a question or anything... just me venting some frustration. In my opinion, this account-shuffling thing many companies do is completely out of control. Consumers should have a say in who they do business with, instead of these companies just being forced upon us. Grrrrr. :(

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I totally agree!

My wife and I originally had 2 Citi cards, 1 Sears card and a WaMu Finance line of credit. Now the Sears card has been bought out by Citi and the WaMu Finance has been bought out by CitiFinancial.

IMO, WaMu (the bank) may soon be bought out by Citibank as well. (Citi had been issuing their credit cards for years - I think it's a matter of time. This is PURELY opinion and not based on any "inside" information or anything.)

Just another reason to find some good local credit unions to associate with - a statement to battle some of the behemoth institutions out there (HSBC, Citi, BofA, Wells Fargo, Chase, etc.).

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Heh -- yeah, the same thing is happening to me with Wells Fargo (seems like they have their hand in just about everything, from auto loans to furniture store financing). Luckily, the only complaint I have against WF is they're aggressive with recycling their customers (calling with "special offers" unrelated to our accounts, despite being on the Kansas no-calls list, which apparently gives them a loophole). But, other than that, everything has been okay. No problems dealing with them, no reporting errors, no real cause for concern.

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I really changed my opinion about CitiBank.

Over ten years ago, I told them they that they could kiss my brown [EXPLETIVE DELETED].

Naturally, I did pay a heavy price for having a charge off on my credit report or at least until it fell off.

However, Citbank has been more than willing to kiss and make up.

They never did try to stick me with that old charge off or screw me with interest rates because of all the cards that they service like Texaco, Zales, Diner’s Club, etc.

And I have the same situation with The Principal as now CitiMortgage has taken that over.

I never went looking to do business with them but ended up doing with business with them anyways. Or at least indirectly.

As for Wells Fargo, I am assuming you mean Wells Fargo Financial. Those are totally different outfits that really don’t have anything to do with each other.

WFF is a sub prime outfit and its only goal is to bend you over and give you the chorizo.

Their financing terms are loose and easy (sounds like someone who can give you a bad disease).

However, the price you have to pay for finding someone that is loose and easy is that you get screwed.

As DHK noted, there are plenty of other financing options available. And if you are unable to get them, at least begin cultivating relationships with those financial institutions.

Right now, I have open accounts with six credit unions. I have credit cards with three of them that happen to have single digit interest rates. I have installment loans with two of them with higher interest rates but I know that my credit has vastly improved from a couple of years ago so I am sure that I can obtain better financing terms.

In the near future, I will have cultivated long relationships with lots of financial institutions and I will be eager to finally kiss off the higher interest rate loans that I have.

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  • 1 year later...

I know that this thread is really old old old old news, but I just thought I'd throw my 2 cents in.

I have a love/hate relationship with Citi. I always swore that I would never open an account with them, as they as with most of their large bretheren cater to the mega bucks crowd and view the typical blue collar working class average joe as a PITA.

Well my employer had a contract with Citi, and this contract gave me access to the financial centers after hours. Talk about convienience--never have to hunt for a deposit slip or envelope--just go inside the branch at 2am and get whatever paperwork you needed. But I still refused to because of the outrageous fees charged to the average person.

Then they introduced the Citi-at-work program. Since my company had a service contract with Citi and seeing that they did all their banking with Citi, Citi gave the employees a pretty good deal. No fees, no minimums, no BS. So I reluctantly switched over to them.

And I must say that I have been pleasantly surprised with them......so long as I conduct my transactions via ATM or over the phone (If I'm lucky enough to get a rep in the US on the phone) The staff at the financial centers are miserable bastards to say the least.

I currently have roughly $13,000 worth of my assetts with them. The funny part is when I went to open a CD with them. I applied online with them and didnt hear anything, so called up (Bombay.......oey vey) and managed somehow to get transferred back to the states. Account opened instantly. Three days later I get a rejection letter for the CD I applied for online because of the CH7 I had in '99.........go figure--they didn't turn me down when I opened my initial savings and checking but when I go to lock up $10,000 with them for 9 months they turn me down.....

I opened the E-Savings when they came out with that, which brings my banking accounts to a total of 5 with them. Checking, Money Market, CD, E-Savings, and a IRA.

I burned Citi pretty good back in '99, with two cards to the tune of I think $16,000 being discharged. So I NEVER thought I would get any sort of loan from them. But I figured what the hell and applied anyway, to pay off Direct Merchants/HSBC who jacked me to 26% for no reason. Small personal loan for $1400. Surprise! They approved me! Albeit at a high rate, but I can live with that for now as 17% is better than 26%. And I'm sure that they will offer me a lower rate on any future loans.

They did turn me down for the Citi AAAwards card though because of teh CH7. But, I applied for that a few days before the loan. What difference does a few days make???

The CH7 was deleted from my TU report before the pull for the loan, but not before the pull for the card. So I put in for reconsideration, and I'm waiting to see what happens. As far as I know, they only pull TU.

The downside to Citi is the telephone CS, as 9 out of 10 times you get Bombay or Mumbai or some other 'exotic' locale on the line. But if you do manage to get someone in the US.....not too too bad. And their online account servicing, as well as the transactions that can be performed at the ATM's can't be beat.

So I stay with them for now, as well as a backup account at Commerce--mainly because of the coin counting. My second job makes me deal with ALOT of loose change, so it's nice not having to sit and wrap it. Or pay the Coin Star service fees at the kiosks in the supermarkets, etc. I have an application in with Patelco, so we'll see what happens with that as well.

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