A company that would work with me...
Written: Jun 29 '00
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Product Rating:
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Pros: friendly customer service, willing to work with the customer, lower APR
Cons: not a great APR, but will make adjustments
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| hlcooper75's Full Review: Citibank |
My husband and I do not have the best credit rating at the moment, but not because we aren't trying. My husband received a promotion and substantial pay raise a little less than 18 months ago. For the first 6 months we were paying a mortgage on a house we were trying to sell and rent on a house we were living in 300 miles from our hometown. Needless to say, that was a strain on our financial situation. Once the house was sold, 9 months ago, we began our attempt at "cleaning up" our credit so that we can buy another house sometime in the not too distant future.
A couple of our cards had maxed out and exceeded their limits because of our inability to make payments during that time. We have since caught up and are proud to say that every one of the dozen or so cards now has credit available, but we WILL NOT USE it.
After all of this time, we reviewed our finances again and realized that we have just barely made a dent in the debt and we've scrimped and saved a lot. We began looking at our options. Without owning our own home, we obviously can't get an equity loan, and unsecured loans are few and far between, and usually for a very small amount ($5000 or less). Neither of us were aware of the option of reducing our APR until I began reading some of my most trusted member opinions right here on Epinions.
So, today I began the quest. I called every company through which we have credit, and to my surprise, all of them compromised at least a little, but Citibank was outstanding!
First of all, I was greeted by a woman with a very pleasant voice who was not speaking so fast I couldn't understand. With children in the room here at home, that was a real plus! Three of the calls I had made previously were almost impossible to complete because of quick-speaking operators with horrible connections.
Second, she listened to all of my questions and concerns before beginning her search on possible solutions. Although we currently have the lowest rate possible for us at 23.99%, she did lower our APR for future purchases from 18.4% to 16.9%.
They currently have no offers for balance transfers, but she recommended calling back monthly if we didn't get an offer in the mail. In addition, she helped me apply for an extended credit limit so that I can get a cash advance at a 19.9% rate so that I can do balance transfers in a round about way. That isn't a great rate, but when you put that up against the 23.99% that another company (MBNA) was only willing to lower to 22.98% that's a savings of 3%. There is always the possibility of bouncing around the credit in the future as well to get an even better rate.
Third, she said the decision on increasing our credit limit would come in the mail within a week, but that we are more than welcome to call back in 24 hours to find out if the credit has been made available to us sooner.
My satisfaction with Citibank does not come from this single incident. In reviewing my past statements, I see that ever month they have reviewed our credit and made adjustments to our APR. They have also been more than willing to work with us in the past to rectify payment situations. As a matter of fact, I know there are times they have been 30 or 60 days late, and because we called and took care of the situation, it has not appeared on our credit report.
With all of the impersonal careless credit companies out there, I am very pleased to have found a company like Citibank. This will probably be the one card that we will keep for years to come.
Recommended:
Yes
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Epinions.com ID:
hlcooper75
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Location: Indianapolis, Indiana
Reviews written: 54
Trusted by: 26 members
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