Credit Card Companies are Sleazebags

Talk about crying wolf.

See this sleazy sales-letter-masquerading as a “Fraud Alert.”  letter from Citibank.  But as you read it, keep in mind;

a) Citibank has sent us BOTH cards they referred to in the letter unsolicited.  We trashed both of the cards.  We have just two cards - one for home and one for business.  And have for over 10 years.

b) Since activation of cards is a controlled process where the caller must either call from their home number or answer a series of security questions, the letter’s warnings are bogus.

c) The timing for those drowning in credit card debt is perfect.  (”honey, I forgot, we can max out that Sears card too - let’s go Christmas shopping!”)

Well,  I guess they got what they wanted.  I opened it.

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One Response to “Credit Card Companies are Sleazebags”

1. Dec
   3
   2007
   At 9:33 am mike Says:

   Wow - thats really scary, especially the part where they said your current card is no longer valid. Can they even do that? I think the credit companies really have gone too far and that it might be the time for government to step in and do something. Their fees, variable rates, and small print really make it almost impossible to get out of debt without them pulling stuff like this. Hidden fees like interchange are impossible to track because they don’t even show up on your statement - and yet their still legal, maybe stuff like this shouldn’t be though. Without transparency the credit card companies are accountable to no one. I’ve worked with unfaircreditcardfees.com on stuff like interchange fees with are charged on every purchase you make to the merchant - causing them to raise their prices which hits us all. Isn’t there someone you can report letters like that to? I really feel like they went to far with that one.

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