You have to read this- citi new way to CLD

[Anonymous]

wow, if i had a card $550 would definatly be worth a 3k cld!

[MattH]

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@Anonymous wrote:
wow, if i had a card $550 would definatly be worth a 3k cld!

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Indeed, it ALMOST makes me wish I had a balance to pay down

[oracles]

I agree, i am really thinking about doing this.

[Creditaddict]

I wish they would send me this on my business card, I would pay that sucker off!

[oracles]

For a $3000 CLD, you get $550 dollars, this is really tempting lol

[score_building]

sure beats getting nothing, followed by an account closure, lol 550 sounds tempting

[spiritcraft1]

This sums it up...  Citi is offering loan-shark rates.. 20% for a 4 month equity raise / cash infusion...  they need cash.

The thing is.. If you don't opt in, you may end up with a CLD or a closed account anyway.  How widespread is this "offer"?

Link to Citi News...

http://www.marketwatch.com/News/Story/Story.aspx?guid=cbd75ab7de8d4b01ba17c34da4901487&siteid=nwtpm&...

[settleordelete]

I WONDER IF PEOPLE REALLY KNOW THAT NOTHING BESIDES THE AIR YOU BREATHE IS FREE

[Anonymous]

At least Citi is nice about it, offering incentives.

Unlike AMEX, who just CLD you and gives you a bunch of nonsense reasons and putting the blame on card users for not being responsible; punishing them for baddies that happened years ago.

[spiritcraft1]

Agreed and a smart decision to raise cash while keeping customers...