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CitiFinancial / Raping customers

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I borrowed money from citifinancial during a crisis period. I was already a customer of theirs because I financed a mattress through sleepy hollow. I established myself by paying monthly and therefore wanted to use them to borrow. Not knowing they are scammers. I only needed to borrow $200, they told me the minimum they lend is $500 but they can give it to me within an hour. Being that I was in need I jumped on it. Bad mistake... I probably ended up paying triple on that $500. She assured me that I would only pay less then $100 if it took me a year to pay it off. She lied. Their statements are very vague with no detail. Spread the word to anyone you care about... No matter how desperate — do not borrow 1 penny from citifinancial... They will take triple what you borrow within 2 years.


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N  5th of May, 2009 by 
Agree Disagree 0 Votes
"bad mistake...i probably ended up paying triple on that $500"
No ###. You've never heard of interest? It's idiots like you that these people make their money off of. Do yourself a favor next time and buy a $30 air matress from Wal-Mart until you can afford a ###ing mattress.
N  15th of Jul, 2009 by 
Agree Disagree 0 Votes
you can't borrow 1 penny, there is a $500 minimum. remember?
D  20th of Aug, 2009 by 
Agree Disagree 0 Votes
Even if you pay 25% interest, the most you would pay on one year to pay back $500 is $625. In fact, it would not even be that much. The key is following the contract by paying on time, which you probably don't do, since if you did, you would be getting $500 from your credit union instead of Citifinancial, or you would just get a cash advance of $200 on the credit card you obviously do not have...

Also, to pay it off within a year, you would probably have to pay more than the minimum payment, since Citifinancial doesn't actually write the contract for 1 year unless the customer specifically asks them to.

The only way that you could spend triple paying back that $500 is if you never pay on time, EVER. I mean you would have to be paying 60 days late all the time and never, ever pay your loan up to date. How do I know? I work there.

If I write a 5 year loan at 25%, as long as the customer pays their payments WHEN THEY ARE SUPPOSED TO BE PAID, they will spend less than twice the money they got from us to pay us back. Every time. I have plenty of happy customers that come back to us, year after year.

The unhappy customers are the ones that have a payment due on June 15th and they pay it on August 15th. They get mad because when they make a 30 day minimum payment 90 DAYS after they borrow the money, they spend their payment on interest instead of principle. Well, all I can say is DUH. That person had a payment due on 6/15, 7/15, and 8/15, but they only made one payment? And they are mad because they owe us 90 days of interest but they only gave us around 40 days of interest and we actually used it to pay down the 90 days of interest they owe us? And no matter how many times I say, "Pay on time and your loan will work the way everyone expected it to", they still pay later, and later, and later...

But I digress. Anyone with a brain already knew the poster was an idiot before I put in my 2 cents...
D  20th of Aug, 2009 by 
Agree Disagree -1 Votes
And also, we hand a carefully written, perfectly legal and compliant contract to every customer, which includes the interest rate and how much they will pay, in total payments, as long as they pay as agreed. I also tell every single customer they can pay extra to pay the loan of earlier and save money on the interest.

They can take it home and read it, and if they don't like it, bring the checks back the next day. But they never do. Amazing. They love us when they want the company's money but they hate us when we expect them to pay us back with the interest they agreed to. Shocking...and they call me a loser...
A  8th of Oct, 2009 by 
Agree Disagree -1 Votes
Shutup you stupid idiots all you commies prob work for a damn bank that depends on US to survive so STFU
A  8th of Oct, 2009 by 
Agree Disagree 0 Votes
Oh yeah citi bank sucks dont do business with them take your business to a credit union .. lower APR and better cust service .. dont waste your time with Press 1 for loans press 2 for CEOS who make over 10, 000, 000 press 3 for CEOS who make over 20, 000, 000
N  30th of Apr, 2010 by 
Agree Disagree 0 Votes
What you people don't realize is that not everyone understand loans and interest. he probably did end up paying double or triple because the interest accrues daily!!
And why are some of you so ugly calling people stupid and you don't know him or his situation!

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