Consumerist
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recession
Sears: Lose Your Job, Keep Your Purchase, Forget The Debt
Acknowledging that skittish consumers are still unwilling to buy big-ticket items, Sears tomorrow plans to unveil a bold new guarantee: if you lose your job after charging a purchase worth $399 or more to your Sears card, the retailer will credit 1/12th of the purchase price to your account for each month you are unemployed. If you stay jobless for one year, the debt is entirely forgiven, and the appliance is yours to keep. More » -
executive compensation
Citibank To Raise Salaries By 50% In Reaction To Bonus Limits
The AP is reporting that Citibank will be raising salaries for certain employees by as much as 50% in order to offset the new bonus restrictions. The company faces the restrictions because it took bailout money. More » -
foreign transaction fees
Beware Credit Cards Charging Foreign Transaction Fees On Domestic Purchases
Banks are increasingly charging foreign transaction fees on domestic purchases, a dangerous practice that's likely to expand as banks look for new ways to generate profit. Tripso tells us the story of Sunil, who bought tickets with Qatar airlines, which sounds ever so expensively foreign. Citi charged a 2% foreign transaction fee, even though the tickets were bought in U.S. dollars and processed by the airline's central reservation system based in Washington D.C. More » -
credit limits
Citibank Comes Up With Elaborate Cash Back Offer That Reduces Credit Limit And Temporarily Suspends Card
Compared to what some other banks and card companies are doing to reduce their exposure to debt, we guess Citibank's cash back offer isn't that bad—it's sort of a "let us help you help yourself get rid of your debt" scheme. It's funny, however, if only because it's such an elaborate way to get customers to self-select for a reduction in credit. More » -
above and beyond
Don't Be So Shocked: Excellent Service From Citibank CSR
"Above and Beyond" service often comes down to the management of a particular location, rather than an individual employee, no matter how big or otherwise problematic a company may be. Fred had such an experience with Venkatesh, the overseas customer service rep he reached when he called to cancel his ancient Citibank account. Venkatesh not only talked him out of canceling the account, but was so competent and nice in the process that Fred felt compelled to speak to his supervisor and write to Consumerist. More » -
fees
Watch Out For Foreign Transaction Fees When Booking With Foreign Carriers
Cliff logged on to his U.S. internet connection to use his U.S. credit card to buy airline tickets on Aer Lingus in U.S. dollars, a transaction he assumed wouldn't incur a foreign transaction fee. Nope! Citibank slapped a 3% fee on the $2,600 purchase, something Cliff feels the airline should have warned him about. More » -
wcia 2009
Worst Company In America: Ticketmaster VS Citibank
A bailed out bank? Or the ticket scalper's best friend? Who makes your blood boil?
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auto bailout
Time Is Running Out For Chrysler! Bankruptcy "95% Certain"
With a week to go before the deadline runs out on Chrysler's bailout — it's looking less and less likely that the automaker will be saved from liquidation. More » -
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citibank
CitiBusiness Strands Customer In The Middle Of The Pacific With No Credit Card
Skye is on a boat in the middle of the Pacific Ocean without any way to pay for things, because Citibank canceled his card due to a security breach and didn't bother to warn him first. What's worse, they're making him call repeatedly to try to fix it, which is costing him $3.50/minute because he's in the middle of an ocean. More » -
wcia 2009
Worst Company In America: Citibank VS Sprint
A bailed out bank? Or a struggling wireless company? Who offends you more?
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wall street bailout
Government To Banks: Why Are You Making Predatory Loans With Taxpayer Money?
The bailed-out banks have found a new way to annoy the government, according to the Congressional Oversight Panel, the body named by Congress to oversee the federal bailout. Chair of the committee and friend of the blog, Elizabeth Warren, is concerned that the same people who are subsidizing the banks are being targeted by abusive lending practices, says the Wall Street Journal More » -
mortgages
Chase and Citi Shut Door On Mortgage Brokers
You're cut off! JPMorgan Chase and Citi announced they'll no longer accept mortgages submitted by mortgage brokers. The move seems to be a way for the banks to exercise more control over the loans they undertake. At first blush, this sounds like a good thing, for banks to be looking their borrowers in the eye, a throwback to the days when credit was earned instead of splooged out like candy in a parade (days epitomized in this 1950's short, "The Wise Use of Credit," posted inside...) On the other hand, it could be more just a way to snag market share and shut out the competition, which can lead to higher interest rates, borrowing costs, fees, and lower service. More »
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wcia 2009
Worst Company In America: Home Depot VS Citibank
Did the Home Depot not improve your home? Did Citibank mess up your mortgage? Which is worse?
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student loans
Citibank Won't Accept The Extra Money You Sent To Payoff Your Student Loans
We're all about to see more money in our paychecks thanks to lower payroll taxes, but if you want to use the savings to payoff your student loans, you better act on the one day that Citibank will take your money. At least that's what Citibank told reader Valori, who tried sending the bank a check with instructions to apply it towards the principal on her student loans. The bank instead applied it to her usual monthly payment and told her that the only way to pay down her principal was to "setup an automatic payment on the Citibank website to debit on the same day as [the] automatic payment is direct debited." Does that seem easy to anyone? More » -
citibank
Citibank To Spend $10 Million On New Offices For Executives?
Bloomberg is reporting that Citibank is planning to spend at least $3.2 million for basic construction, and as much as three times that much after architects fees and other expenses are paid, to renovate the executive offices at the bank's Park Avenue headquarters. More » -
citibank
27 Citibank Executive Emails
Here are 27 email addresses for Citibank execs, in case you need to send them an eecb.
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The MTA will be the first entity to refuse to refer to the new Mets stadium as "Citi Field." The subway authority refuses to spend its own money rebranding the station with a corporate name — so it'll be known as "Mets/Willets Point." Hey, that's better than "Bailout Park." [Gothamist]
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parodies
Check Out The New Commercial For Citibank!
Here's what you can expect from a nationalized Citibank, courtesy of Funny or Die. NSFW warning: this thing is full of f-bombs, and even an r-mine. (Full video after the jump.)
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citibank
New York, 6:55 PM
Fri Jul 3
26 posts in the last 24 hours
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