Check your statement folks. These co-brand cards are moving up.  It used to be the case if you were a day late they would jack your rate.  No more.  If you have a BALANCE they are jacking your rate.  Wow.  What is the point?

Citicorp

Buy Citi now??  This certainly isn’t the catalyst needed to turn Citi, but it couldn’t hurt… or could it?  Higher defaults coming?

High oil and moves like this stacked on top of each other will cause the double dip that might be around the corner.

Below from FT.com

Citigroup has sharply increased interest rates on up to 15m US credit card accounts just months before curbs on such rises come into effect, in a move that could fuel political anger at the treatment of consumers by bailed-out banks.

via FT.com / Companies / Banks – Citi raises card rates on millions.

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