No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
good luck and keep us updated! i got this survey about 24 hours after my call back from Citi. I let them know how I felt. Maybe they will reach back out to me.
@Anonymous wrote:
@Anonymous wrote:To be honest I think secured credit cards need to be regulated more.
If you think about it, the bank gets the interchange fees, an annual fee, and interest + other fees from the average person who holds this type of card, plus the abilty to loan out the money the person puts down as collateral while virtually taking zero risk with anything. I'm honestly suprirsed some banks like Key and Chase don't offer such a product.
Unless the secured card is really good... ie. (Bank of America who gives out generious CLI's and secures it in less than a year for most people), I don't see the point of paying an annual fee to have a secured card when many out there are free, and some are free and offer rewards. Everyone with experience on here knows Citi isn't generous with credit lines to most people, and even if the card does graduate, it looks like it would be product changed to a Diamond Preferred, which isn't anything special either..
I'm sorry the moment I see the words "need to be regulated more. "
I cringe...I HATE the idea of WHAT the government FORCING a business to extend credit based upon 'what'
the public's desire to TRY MORE TIME AT IT?
As mentioned, there are plenty of options out there ...if a vendor wants this type of business fine if not , it should be their call.
If they want to restrict whom the attract, again their call....
Ppl CLAIM that there isn't any risk...no big deal....great for the lender, well there is a REASON not everybody chases this business.
If it were SO GREAT...you'd see all the fighting and the rush to grab market share, this things are FAVORS ( and great GIFTS, to allow us to re-start or kick start ourselves again) I wouldn't go so far as to say 'wow, cash cows' ....again there is a reason these things aren't aggresively pushed and overly highly marketed.
You take a wonderful place like NFCU a generous lender, with what many would call rather EASY UW....but guess what they have a rather HIGH barrier to entry at a $500 deposit....again for a reason
If it were such a GREAT deal and could help grow biz why wouldn't they have a lower barrier....I'll tell you ...They don't want to headaches and to be bunt the TRASH that comes with the audience that can't put together $500 to secure an account....think of it $5 saving account for membership so so credit BAM approved...a bit whose credit ...nah you gotta find $500 more we won't freak with you...
BoA and several others will still run credit and tell certain folks NO even with the 'deposit'....if the deposit meant ZERO risk....they'd be given out like candy but many of the Big Boys still PASS for a reason....
But PLEASE no government REGS to force banks to extend credit to the non-credit worthy...let's leave a few things for the market to work on by itself.
Just like our wonderful forum here we SHARE info and tips on where to grow, whom to deal with based upon our experience and the market but please no politician hacks TELLING us and them ....who needs to get hitched...let of choose our brides I beg of you
You know I'm mostly ribbing but honestly no politicians:
I do hope you realize that loosely regulated banks are the reasons why this country's banking system is such a mess.
The government is too afraid to force American banks to upgrade their systems like in other civilized coutnries where a transaction from one bank account to another can take 10 seconds instead of days. Also, a loosely regulated banking system results in banks like Wells Fargo and a financial crisis like in 2008.
The free market and political area is the reason the country has fallen behind everywhere and the quality of life has become miserable for the average person.
Anyways, don't want to jab the how political debate. It's not really supposed to be discussed on here.
OK...Heres the update 10/3/16, and its not good.
got a call back from my contact at the ERU..(executive response unit), and he starts off the conversation like this.....
"hello Pizza1! Hope your day is going well!"...
at first Im thinking, ok, kinda positive, but then I immediately shifted gears because I knew this was just a cover.
He starts the rest of the conversation like this...
"well, We have evaluated your complaint, and the good news is, there have been lots of inquires from other customers regarding this same matter!!"
Im thinking...ok, tell me more!
Then he says..."Citibank did take away the AF associated with the secured card towards the end of August, but at this point, Citibank will not be refunding any cardholders the $25 AF they have already paid, OR going forward"..
SO...you can imagine my total dismay then instantly turned to pissed. They are offering however any cardholders to "re-apply" for the current NO AF secured card.
I literally asked him if he was high.
F NO I'm not gonna "re-apply" for a third time for a stupid secured card only to have to eventually get back in on legacy side. I ended the conversation right there.
So in short, the ones the got the AF card just a month or two ago, are screwed, and will continue to be charged the $25 AF at every year interval in that the card doesnt graduate.
I immediately pushed a payment to pay off the card, and I'm 98% sure I'll close it, unless someone talks me off the Citi ledge. I honestly don't need to be "back in with Citi" that badly. In all honesty, the DC card is really the only decent regular card they have.
So over it. I said Id update my thread, and I did.
Sorry Pizza! I was hoping you'd be able to to get it refunded and removed. 😕
This is probably not the time, but you asking if he was high made me 😂.
@Justagirl73 wrote:Sorry Pizza! I was hoping you'd be able to to get it refunded and removed. 😕
This is probably not the time, but you asking if he was high made me 😂.
He HAD to of been high. That was the only explanation for saying something so stupid too me, LOL.
I was hoping as well, but he was firm in his delivery of "Citibank at this time will not be refunding any past secured card holders the $25 AF they have already paid, or going forward". He sounded very "scripted" as well. So, glad to know Im not the only one, and who knows...maybe this original thread started all the calls he was talking about"... GOOD! LOL
Back away from the ledge. When you signed up for the card you felt like the $25 AF was a good deal to get back in with Citi; that deal hasn't changed. Sure, some other people are getting a better deal now, but you decide if the original deal is still worth it to you.
Yes, the CSR was a moron, but seriously does that surprise you? They probably have very little flexibiltiy in what they can do, and it's no surprise that some bigwig over there decided on a no retroactive AF refund policy.
So, the question for you is the original deal still worth it? I'm also BL by Citi at the moment after burning them in the 2009 timeframe. I decided not to go the secured route (AF or no AF) because I'm about 6 months away from a bunch of baddies from that period falling off my reports, including the Citi chargeoff, so I'm going to try to get back in on the personal credit side with them after everything is clear. For me, there are a number of Citi cards worth having, either for the sign-on bonus or for ongoing use.
As a side note, I set my brother up as an authroized user on several of my cards a few months ago(he has zero credit history at all)...and now he's preapproved for his own cards on the Citi site. I can't get back in yet, but as an AU on my cards my brother can now get pretty much any of their cards. That's how the game is played, and that's why you should step back from the ledge and see what really makes sense for you.