Hey guys, CCollector here. Had a large meeting tonight.... Citibank is trying to create a "brand" among the credit card world. An "emotional bond" with the product to keep the customers attached in a socio-emotional way. Keep an eye out for 5 new funny Citibank commercials that deal with using credit wisely, using their new "Live Richly" slogan. Citicards, although the largest/most profitable credit card organization, ranks only in the mid-range of brand loyalty. 1st Place - Visa "It's everywhere you want to be." 2nd Place - American Express - Customer service and quality. 3rd Place - Discover - Cash back king. After those 3, all the others just fall in a giant pit of cards that people really don't feel they would try any harder to become a cardmember of.
Every time I see that slogan I think of my early 20's. Rack up debt until you can't pay it back to buy junk that you don't need right away. And if you can pay it back then it's going to take years and you will pay out much more than it cost in the first place.
If you think back 20 years, it's amazing how credit cards have changed. I remember that pretty much every credit card had a rate between 18 and 21%. BT's were unknown, and every card had an annual fee. When interest rates eventually go back up (and they will), we'll only dream of the days when we considered under 10% a prime rate.
Austin you said the intrest rates will go up. Are you looking into your crystal ball or talking out of your arse No kidding tho I'll take a bet. For the next 4 years intrest rates will be this low. Greenspan is recently elected for another 4 year term. Low intrest rates is his idea of helping a nation to rebuild after recession. AND NO GOVERMENT WILL SCREW HIS ECONOMY THIS BAD. Interst rates will go up bahhhahahahaah. ok im sorry im out of control tonight.
Actually, the economy was much more Greenspan's than Clinton's, although many who lied on Bill's behalf tried to appropriate the credit for him and for themselves. Likewise, the economy (refering to management, not ownership) is now more Greenspan's than Bush Jr.'s.
