It is amazing how Americans are robbed ( actually all regular citizens) get robbed by banks with the help of the corrupt administrations
Citi is owned by the US government basically and still can go through with such shameless and outrageous measures to rob ‘legally’ the so called clients. They have guarantees of 100 bil by taxpayers got around 50 bil. direct subsidies and can borrow money at 0 (zero) at the FED in any amount they wish and are raising rates. That is a no go Mr President and your smart talk does not get any justice to the people who did elect and pay you – the next ‘Teaparty‘ is around the corner as soon as all this upturn lies vanish people might wake up and act.
The best thing you can do here is to close down all accounts of banks who act like this – the government works for the banks not for the people so do not expect any help from them. They just make their dramatic words followed by no action charade.
One save way to punish the guys is use no credit- pay it back if you have some resources as the negative interest rates make one sure investment with a good return – pay down any credit you can and close all accounts you can get out of their system. Make an easy calculation as to rent your home might make much more sense than to ‘own’ it when you need to finance it. If you have spare money it may make sense in 6-9 months to buy real estate ( realistic bottom window) as within 10 years inflation will be the second biggest enemy of your savings.
Citi Raises Rates on 15 Million Credit Cards: Report
Citigroup has increased interest rates on up to 15 million U.S. credit card accounts just months before curbs on such rises come into effect, the Financial Times reported citing people close to the situation.