Senior Users, Please Help! RE: Citi

Discussion in 'Credit Talk' started by eviljeeba, May 13, 2001.

  1. eviljeeba

    eviljeeba Well-Known Member

    I owe Citibank $9,000. $7,000 from Cash Advances alone. The $7,000 Cash Advances are incurring a 19.99% interest rate. That equals to about $100 a month just on the $7,000 Cash Advances.

    Anyone know how I can reduce my rate? They have already lowered my normal rate to 1.9 plus prime, but they WON'T do anything about the 19.99% Cash Advance rate! :0

    Anyone have any suggestions on how I can easily roll it over somewhere else? Or anything?

  2. MikeB

    MikeB Banned

    Balance transfer it to another card if you have one. If not, and your credit is good, apply for another card. Nextcard is good about offering BTs online with online approval. After you BT the balance to another card, Citi might offer you a low rate to transfer it back......

    GEORGE Well-Known Member

    Tell them to lower the rate or you will transfer it to some other card...might work, if not you will have to apply some where else...BANK OF AMERICA 8.9% on balance transfers...NEXT CARD on line 9.99% max.

  4. DaveLV

    DaveLV Well-Known Member

    You might even be able to bluff them that you were just approved for NextCard with a low teaser rate without even applying. All they can say is "no" and if they do then you could actually try to get one.
  5. Reshod

    Reshod Well-Known Member

  6. Geo

    Geo Well-Known Member


    Bank of America 8.9% for the life of the Bal transfer or Nextcard.
  7. VJ

    VJ Well-Known Member

    Re: Citibank 19.9% advances

    Balance transfer if you can but if you needed $7k in cash advances that option may not be available.

    I do have one recommendation.
    When you make a monthly payment on your citicard, a small percentage of it goes toward reducing the cash advance must still make your minimum monthly payment but after that you can mail in another payment in the same month to a special address(in NJ?) where the entire payment will be apllied to the cash advance portion only.
    Call Citibank cc for the address.

    At Chase it works differently.Your monthly payment is applied to reduce you lowest APR balance first and cash advance balances are finally reduced after all of your regular charges are paid.

  8. Marie

    Marie Well-Known Member

    Re: Citibank 19.9% advances

    Cap1 applies payments proportionately. that's fair

    Providian applies to purchases and then when all purchases are paid off totally... then you get to pay off your cash advances.
  9. Ron

    Ron Well-Known Member

    Try to apply for Bank Of America 8.9% bal transfer for life or Wachovia Bank Prime for life or NextCard 9.9 fixed or Novus Card Card (from Discover) 8.9% balnce transfer.
    Good luck

  10. eviljeeba

    eviljeeba Well-Known Member

    You guys are SO great!

    I will try EVERYTHING you guys mentioned.

    First. I will try and bluff to go prime plus my 1.9%, as I think they are the best game in town?

    Now, when people say 9.9% APR, does that mean 9.9% TOTAL or 9.9 PLUS prime?

    Sorry I'm SO dumb!

    Thanks again to everyone.

    I will call Citi in the morning.

    Oh! thanks for the advice on having payment directly placed in the CASH ADV, they already told me I could do that, which I did.

    HOWEVER, what happened is every month, they take $100 from my cash adv limit. I guess that is the interest on $7,000! :0 Word of advice, DONT CASH ADV $7,000!

    Seems pointless for them to let me go to Nextcard, and then come back to them huh?

    Thanks again to everyone who posted.
  11. eviljeeba

    eviljeeba Well-Known Member


    Well, I actually called Citibank at like 12:30AM IN THE MORNING.

    My first call was to a rep I could tell was just DUMB. He said he couldn't so anything.

    The second rep was a professional white male, who I could tell from the get-go could do something for me. He took me from the 19.9 cash adv rate to 12.9, but had to increase my regular purchase rate 1%. So everything at 12.9%.

    This will in a savings os $35 a month in interest charges for me.

    Now the greedy side of me has to this TRULY a good deal?

    Thanks again guys! :)
  12. eviljeeba

    eviljeeba Well-Known Member

    Re: GREAT NEWS! clarification

    He said I went from 3.9 plus prime to 4.9 plus prime, which is currently at 8, but would drop to 7something next month.

    Oh man! I just realized I never had a 1.9 plus prime to begin with! :0

    So is my 4.9 plus prime a good rate, or does it "suck" in the credit world?
  13. creditwork

    creditwork Well-Known Member


    As you may have gathered from the other posts 12.9% is not a great rate, but it is not bad. Concentrate on getting another card and play the credit card shuffle. Just don't let the professional white male know you are playing a professional black male's game.
  14. sam

    sam Well-Known Member


    nah you should get prime+1.9% or for those with truly good citi credit prime rate or prime+0.9% .

    i think my last statement reflected 9.9% apr which is awesome since they know i have a score of only 600
  15. Ron

    Ron Well-Known Member


    I think 12.9% is much better than 19.9% and I still think to transfer balance is better choice.

  16. Reshod

    Reshod Well-Known Member

    Great Job


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