At one point Ms. Waters asking if they had raised their interest rates on credit card customers after $350 billion in taxpayer money was pumped into their coffers to keep their quaffed butts afloat.Bank of America’s Ken Lewis along with Citigroup’s Vikram Pandit admitted they had raised rates. Mr. Pandit, in a statement I would have thought funny had it not been so disgusting it overwhelmed me with the desire to dunk his infected self in a vat of hydrogen peroxide, reminded committee members that Citigroup had cancelled its order for a $50 million dollar jet. If you think this crisis doesn’t reach all of this, consider this, when I got home today there was a notice from Citibank (part of Citigroup) informing me that the interest rate on my credit card was going to increase by more than seven percent!
I called their customer service and was told, by a truly nice woman who clearly wanted to be anywhere on planet earth that didn’t include a customer who wanted to ring the necks of bank executives, that I could refuse to accept the rate increase but when my card came up for renewal, it would not be renewed.“You mean to tell me that Citibank actually has a policy that says, either accept out rate increase or we don’t want you as a customer anymore?” Quietly, she said, “Yes. I’m so very sorry, Mr Kahrmann.” And my heart broke for her because I could tell she meant it. I told her I wanted to cancel my card. I was switched to the card-cancelling department and was informed, by yet another lovely woman who, like the first, clearly wanted to be on an island somewhere, away from justifiably angry customers, that upon further review, Citibank could reduce my interest rate dramatically, way below what my rate had been prior to the increase because I am such a good customer. You can’t make it up. What is true is this, Citibank said first that if I refused the interest rate increase they would drop me as a customer when my card was up for renewal. And then, when I pushed it to the limit, said, Oh, my bad, we’ll reduce your rate. These well-heeled sleazeballs should be jailed.