credit card regulation

**nancym** Thu Nov 26, 2009 8:59 am

I just cancelled my account with Citibank, in spite of never being late and being completely current with them. At least it gave me the opportunity to tell the account manager (who was polite as always) that I considered her company's executive to be traitors to America, and that I was no longer going to be taken for a fool by people like them.

If anyone with a Citibank account got any notices from them, be sure to read them before Nov 30. My account in good standing was going to be raised from 10.24% to 29.99% (including existing balances) as of that date if I didn't opt out.

For more info on this and the new laws that are trying (partially) to control this insanity:

Credit card lenders go on a rampage
http://articles.moneycentral.msn.com/Banking/YourCreditRating/weston-credit-card-lenders-go-on-a-rampage.aspx?pgnew=true#uc2Lst

Citibank Raises Interest Rates to 29.9%; Laughs All the Way to the Bank
http://www.associatedcontent.com/article/2370258/citibank_raises_interest_rates_to_299.html?cat=9