Is Citibank on a death wish?

Reply Subscribe

Thread Tools

Search this Thread

Jul 17, 2009 | 1:28 pm

#31

smcgrath12

Original Poster

Join Date: Jan 2005

Location: San Antonio, TX

Programs: OP, SPG, Amex MR

Posts: 371

Quote:

Originally Posted by steve32

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

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.

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?

Last edited by smcgrath12; Jul 17, 2009 at 1:36 pm

Jul 20, 2009 | 4:30 pm

#32

biggestbopper

In memoriam

Join Date: Jan 2006

Posts: 4,020

Quote:

Originally Posted by RFEngineer

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.

Jul 24, 2009 | 9:37 am

#33

sdsearch

FlyerTalk Evangelist

Join Date: Jan 2005

Location: home = LAX

Posts: 26,113

Quote:

Originally Posted by mia

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?

Jul 24, 2009 | 9:46 am

#34

mia

Flyertalk Posting Legend Moderator: Credit Card Programs, American Express, Capital One, Chase, Citi, Diners Club, Eco Travel, Signatures

Join Date: Jun 2003

Location: Miami, Mpls & London

Programs: AA, IHG & Marriott Platinum; DL & HH Gold

Posts: 51,876

Quote:

Originally Posted by sdsearch

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.

Reply Subscribe

Reply Share

First
Prev
3 / 3
Next
Last

Forum Jump