FlyerTalk Forums - Is Citibank on a death wish?

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Quote:

Originally Posted by steve32 (Post 12080731)

They have been doing this for enough years, and the economy has gone down enough, that if their strategy was not giving them a net gain, they would have dropped it. They haven't. Just because you can't see their logic does not make them wrong.

So, I guess this strategy is profitable to them. More power to them as it seems like a very deliberate strategy on Citi's part.

Quote:

Originally Posted by steve32 (Post 12080731)

Telling someone else they are nuts is rarely productive; and in these forums is potentially detrimental to the community who are trying to score on those promos.

So, if Citi has its reasons for this, why would it care if someone on FT calls them nuts? Unless you are telling me that it might get them so angry that they will withdraw the multiple bonuses based on some anonymous post. :rolleyes:

On one hand you are claiming that Citi has a good professional reason for this, but on the other hand you are claiming that they might become unprofessional (putting personal anger over sound business sense) by some average Joe's internet post? So what is it?

Quote:

Originally Posted by RFEngineer (Post 12082196)

maybe I'm wrong, but rumors of their death may premature

from CNN

Citigroup delivers surprise $4.3 billion profit
http://money.cnn.com/2009/07/17/news...ion=2009071708

IMHO, it is quite easy for banks (and other corps.) to massage their earnings and costs and come up with pretty much any profit they like.

I suspect Citi, in its present, conglomerate form, will not exist in the not so distant future.

In any event, as long as they don't take my AA miles with 'em when they go--don't really care. :D

Quote:

Originally Posted by mia (Post 12080736)

When a bank creates a credit card account the revolving line of credit is typically bundled with others into a security. Citi earns fees when selling these securities. The line of credit for a specific card account remains in the same loan pool for the duration of the security.

So what happens when a churner cancels the card after one and a half months (after getting the bonus and paying off the balance)? How long did it take for the card to get into the security?

When I apply for an AA Amex and an AA MC on the same day and am approved minutes apart, do they end up in the same secuirty?

Quote:

Originally Posted by sdsearch (Post 12116735)

How long did it take for the card to get into the security?

I know only what I read. In my experience most issuers have the ability to "reinstate" recently cancelled cards, which suggests that the card account persists beyond the consumer cancellation date. I would expect the account to remain live for at least another billing cycle.