CITI's profits

[anonymuse]

Also, did you know that people who pay their accounts in full every month are considered "dead beats" because the bank doesn't make any money off them. They are interested in only little people who can't afford to do any more than make minimum monthly payments.

What a racket!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I had really fair-average scores when I was getting out of college and wasn't looking at really good loan rates for a car. So, while I was in college the last 6 months, I only paid about 2/3 of the bill each time (instead of full as always) and bumped up my score about 100 points. What a weird system!

[SinkingFast]

Did you all know that the banks make money 4 ways on a credit card account that's in default. First of all when the account is opened, they monetize or fractionalize the credit line and turn it into 10-15 times the face value. Then when the account holder defaults, they charge off the balance, collect from their insurance, take a tax write off, and then sell the account to a collection agency. And all this even when they've never put up the money for the account in the first place.

Also, did you know that people who pay their accounts in full every month are considered "dead beats" because the bank doesn't make any money off them. They are interested in only little people who can't afford to do any more than make minimum monthly payments.

What a racket!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Yes, the CC's do love us REVOLVERS!! That's what they call people who carry a balance from month to month.

REVOLVERS!!

Makes you wanna shoot some one doesn't it??!!

[aa06a47]

Did you all know that the banks make money 4 ways on a credit card account that's in default. First of all when the account is opened, they monetize or fractionalize the credit line and turn it into 10-15 times the face value. Then when the account holder defaults, they charge off the balance, collect from their insurance, take a tax write off, and then sell the account to a collection agency. And all this even when they've never put up the money for the account in the first place.

Also, did you know that people who pay their accounts in full every month are considered "dead beats" because the bank doesn't make any money off them. They are interested in only little people who can't afford to do any more than make minimum monthly payments.

What a racket!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

I didn't know the "insurance" part of it. I know they make money (anywhere from 2-5%) of the amount charged from the merchant. What collection agency would be dumb enough to buy something an account in bankruptcy?

[aa06a47]

Why are all these advertisements popping up now.?????

[SinkingFast]

Why are all these advertisements popping up now.?????

The Forum Mods have to pay for us to be able to chat some way. The ads were always there. They were just at the top or in the side bars. This is just a new format.

I personally find the Chase ads funny. They're paying for me to chat here and we're BK'ing against them. Over, and over, and over, and over again. Thru bank mergers and aquisitions, we wound up with 4 Chase CC's. You'd think, at some point they woulda said to themselves, "Those people have too much in LOC and too many cards/accts." but they never did.

[Minnymouth]

YEAH, let them pay for the site to function................ I'm all for it!!!!

[FoolAndHisMoney]

Yeah make sure you click all the advertisements, especially the credit card ones. I always do with MSN & Yahoo. Every one you click pays them a fee.

[aa06a47]

I'm looking at the John Cummuta one, I just BK'd on them. Damn, won't click that one, I already owe them (or don't) money.