Money cost you .35% and you charge customers 27.4%! What a great deal!

[gipper]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

 

[MarathonMike]

The interest that credit card companies charge is criminal. Mafia loan sharks would blush at those rates.

 

[Toddsterpatriot]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

It's borrowing at .35%

Sounds awful!!!! How much are they borrowing?

 

[gipper]

The interest that credit card companies charge is criminal. Mafia loan sharks would blush at those rates.

It should be criminal. If we had a federal government that wasn’t completely owned and controlled by the 1%, it would be.

 

[Polishprince]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

If you need to borrow a lot of money, you should probably be looking to take out a mortgage. The pledged property makes the deal a lot less risky for the lender, and you'll see the interest rates are a lot less.

 

[gipper]

America today:

“We have a system that demonizes the poor, passively abuses children by withholding education & opportunity, wages war casually, denies healthcare to millions, tolerates systemic racism - but takes every care not to inconvenience those with 3 homes, a plane, 10 cars and 2 yachts.”

 

[Mikeoxenormous]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

Yeah, those mean ole banks, but what happens to those banks when SOME people dont pay back their debts and go bankrupt? Who picks up those costs?

 

[Markle]

If you need to borrow a lot of money, you should probably be looking to take out a mortgage. The pledged property makes the deal a lot less risky for the lender, and you'll see the interest rates are a lot less.

Thirty year mortgages are BELOW 3% right now. It has been fifty years since rates were this low.

Gipper simply is a Troll setting his hair on fire.

There are numerous cards to which you can transfer balances and pay ZERO PERCENT for up to eighteen months.

 

[Markle]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

Average credit card interest rates: Week of July 15, 2020
The average credit card APR stands at 16.03% for the third straight week
by Kelly Dilworth
July 15, 2020

Average credit card interest rates: Week of Dec. 21, 2022

Average card APR climbs again as more lenders adjust to Fed's half-point rate hike.

www.creditcards.com

 

[martybegan]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

I never knew we were all forced to go out and get Citigroup credit cards.

 

[Markle]

America today:

“We have a system that demonizes the poor, passively abuses children by withholding education & opportunity, wages war casually, denies healthcare to millions, tolerates systemic racism - but takes every care not to inconvenience those with 3 homes, a plane, 10 cars and 2 yachts.”

ALL of which provide jobs to others. How great is that?

Oh, and you left out!

 

[gipper]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

I never knew we were all forced to go out and get Citigroup credit cards.

Other than you, who said anyone was forced? Troll.

 

[martybegan]

It’s the American way according to Wall Street, and government doesn’t give a shit about the poor debt serfs. Government cares more about protecting the crooks running the big banks. It’s a scam the Mafia can only dream of.


Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Card
The first thing you need to know about Citibank and its parent, Citigroup, is that they have an extensive rap sheet. (See here). The second thing you need to know is that Citigroup is a serial predator that perpetually promises its regulators that it’s going to reform, but never does.

The third thing you need to know is that Citigroup has made a sap out of the Federal Reserve – not once, but twice. During the last financial crisis of 2007 to 2010, Citigroup somehow induced the Fed to secretly give it $2.5 trillion cumulatively in below-market rate loans for 2-1/2 years to prop up its sinking carcass. Citi got the cheap loans (often at below one-half of one percent) and then went right on charging its struggling credit card customers high double-digit interest rates.

Citi played a major role in creating the financial crisis, according to the official report from the Financial Crisis Inquiry Commission (FCIC). Three of Citigroup’s executives were referred by the FCIC to the Justice Department for potential criminal prosecution but zero criminal action was taken against them.

Citigroup Has Made a Sap of the Fed: It’s Borrowing at 0.35 % from the Fed While Charging Struggling Consumers 27.4 % on Credit Cards

I never knew we were all forced to go out and get Citigroup credit cards.

Other than you, who said anyone was forced? Troll.

You are complaining about it like people are required to do it. Unsecured credit is a privilege, not a right (same as secured credit actually), and you have to pay for not only the risk you cause the bank, but the risk others do.

 

[BasicHumanUnit]

America today:

“We have a system that demonizes the poor, passively abuses children by withholding education & opportunity, wages war casually, denies healthcare to millions, tolerates systemic racism - but takes every care not to inconvenience those with 3 homes, a plane, 10 cars and 2 yachts.”

Yep,
Elections have consequences.
I can guarantee that if you want more of the same, go for Biden.

If we eliminated the career politicians, I can almost guarantee things would improve.
Start with Pelosi, Schumer and McConnell
Next you'd need to deal with the Federal Reserve

 

[HenryBHough]

It really is this simple:

If you don't pay your credit cards balances off in full each month you are stupid and it's only right that you get screwed. It should be a lesson to you. You should thank the banks for doing their best to educate you.