Citi Financial Unsympathetic Loan Sharks From Citi Financial Target People in Despair. Paris Tennessee
My husband and I went to Citi Financial last August looking to consalidate some bills. We went in with high hopes because they seemed so interested in helping us with our situation over the phone.
The lady working on our application said that our credit scores were great, which we already knew because we are subscribers to Credit Inform. She said we qualified for a home equity 1 loan. We were so excited to finally get from underneath the pressures of some of our bills. Little did we know that the pressure was going to get worse.
The loan officer told us that our interest rate was going to be 20.99%. That since our credit was so good we avoided getting the 25.99% rate. My husband and I were speechless.
There was nothing we could do. We didn't have the time to apply anywhere else. We were in such a financial mess. We were not behind on our bills yet but we had loss some of our monthly income. We had to take the hand that was dealt to us and she knew that.
I would advise anyone that has the time to weigh their options to stay out of citifinancial. I am suffering through a loan payment that is litterally half interest and half payment.
By the time my husband and I pay off this loan (in the next 4 1/2 years), we will have paid them almost $9,000.00 in interest and that is only $3,500.00 shy of what we borrowed.
Melissa
Camden, Tennessee
U.S.A.
14 Updates & Rebuttals
Wallflower1687
Johson CIty,Tennessee,
U.S.A.
Don't speak for all of your colleagues
#15UPDATE Employee
Sat, August 09, 2008
"None of my colleagues would work for any of our competitors because it would be a step down."
well yes they would. I have several citi cards with a fantatic rate, because i work for the company. But i so wouldn't be caught dead with a citifi loan. We get offers every week and they go in the trash. I just bought my first house and didn't even take citi's "discounted employee rate" (that they will give to anyone employee or not)
But in citi's defence, um they told you the interest rate, and you should have walked out the door and gone to a bank if you had such good credit. That's your fault.
Manny
Kokomo,Indiana,
U.S.A.
Citigroup is the largest and best financial services company in the world.
#15UPDATE Employee
Mon, May 19, 2008
Citigroup is the largest financial services company in the world. Citifinancial, a Citigroup company, is the best financial services company in the world. You should read that as financial services and not BANK. You get the rate that you qualify for. You are fully explained all your options and we are the most compliant company in the world. None of my colleagues would work for any of our competitors because it would be a step down.
From the July 23, 2007 issue
http://money.cnn.com/magazines/fortune/global500/2007/full_list/index.html
Rank Company Revenues ($ millions) Profits ($ millions)
1 Wal-Mart Stores 351,139.0 11,284.0
2 Exxon Mobil 347,254.0 39,500.0
3 Royal Dutch Shell 318,845.0 25,442.0
4 BP 274,316.0 22,000.0
5 General Motors 207,349.0 -1,978.0
6 Toyota Motor 204,746.4 14,055.8
7 Chevron 200,567.0 17,138.0
8 DaimlerChrysler 190,191.4 4,048.8
9 ConocoPhillips 172,451.0 15,550.0
10 Total 168,356.7 14,764.7
11 General Electric 168,307.0 20,829.0
12 Ford Motor 160,126.0 -12,613.0
13 ING Group 158,274.3 9,650.8
14 Citigroup 146,777.0 21,538.0
15 AXA 139,738.1 6,379.9
16 Volkswagen 132,323.1 3,449.0
17 Sinopec 131,636.0 3,703.1
18 Crdit Agricole 128,481.3 8,975.8
19 Allianz 125,346.0 8,808.9
20 Fortis 121,201.8 5,459.0
21 Bank of America Corp. 117,017.0 21,133.0
22 HSBC Holdings 115,361.0 15,789.0
Robert
Buffalo,New York,
U.S.A.
Largest in the world??? Oh do tell!
#15Consumer Comment
Mon, April 14, 2008
""I am proud to work for the biggest and best financial services company in the world.""
THE largest in the world??? Hardly.
I can name a few; Chase, HSBC, Deutsches Banke.
Need I go on?
The best???? Almost 21% interest for a "great" credit score??? Laughable!
Faron
Houston,Texas,
U.S.A.
Did I say my hometown?
#15Consumer Comment
Sun, April 13, 2008
You can do a search on citifinancial and citi financial and find over 250 complaints against your beloved company. The one I like the best is the bait and switch that goes like this when a person goes to the office with one of those handy and convenient checks in hand.
So Mr. Fish, I see you have 4 credit cards open and a balance of $12,000. How would you like to consolidate those into one payment into our fine institution? You can do this at a fantastic APR of 16.99%. Now isn't that just a swell deal!!
Bottom line is if you get stupid correspondence in the mail from some fly-by-night, rinky-dink, 3rd world financial institution; avoid it at all costs.
And you can search high and low and you will never see a complaint by me made against this third world instititution because I manage my funds and don't need inferior APR rates.
However, this is a free country and with the exception of ED blocking my posts; I can say anything I want as long as it's not slanderous or fraudulent..and since I have spoken the truth cabout your company; none of those acts hacet occurred. I presume your disdain for my comments may be more in line with those who want to silent the minority such as in Iran and Venezuela.
Manny
Kokomo,Indiana,
U.S.A.
Citi Rocks
#15UPDATE Employee
Sun, April 13, 2008
Faron- I have been searching all the threads and have found only one possible valid complaint against Citifinancial Services i.e. your home town "citi" lenders. The gist of the one valid complaint on a different thread went against every one of our policies and procedures. In a network of 2200+ branches, occasionally, we do have some issues. The unethical producers are always immediately terminated.
By and large, we are ethical and compliant in every respect. In particular, I still think neither the poster of this report, nor you, has posted a valid complaint about anything that we do.
Manny
Kokomo,Indiana,
U.S.A.
Citi Rocks
#15UPDATE Employee
Sun, April 13, 2008
Faron- I have been searching all the threads and have found only one possible valid complaint against Citifinancial Services i.e. your home town "citi" lenders. The gist of the one valid complaint on a different thread went against every one of our policies and procedures. In a network of 2200+ branches, occasionally, we do have some issues. The unethical producers are always immediately terminated.
By and large, we are ethical and compliant in every respect. In particular, I still think neither the poster of this report, nor you, has posted a valid complaint about anything that we do.
Mo
Davison,Michigan,
U.S.A.
Consumer Comment: I love Citifi
#15Consumer Comment
Tue, April 08, 2008
It sounds to me like you knew all of the terms of your loan before you signed the paperwork. My husband and I are on our 2nd loan through Citifinancial and they have always been fantastic! We are in and out of there with a loan in no time. They are always very clear on the rates and payments that you are signing up for. On 2 different occasions I was unable to make a payment on my loan and they differed it for me, not to mention I found their rates fair (16.99%) considering it is a last minute loan.
Mo
Davison,Michigan,
U.S.A.
Consumer Comment: I love Citifi
#15Consumer Comment
Tue, April 08, 2008
It sounds to me like you knew all of the terms of your loan before you signed the paperwork. My husband and I are on our 2nd loan through Citifinancial and they have always been fantastic! We are in and out of there with a loan in no time. They are always very clear on the rates and payments that you are signing up for. On 2 different occasions I was unable to make a payment on my loan and they differed it for me, not to mention I found their rates fair (16.99%) considering it is a last minute loan.
Faron
Houston,Texas,
U.S.A.
Not baseless, just look at all the other "valid" complaints on other threads
#15Consumer Comment
Sun, April 06, 2008
You will see how much your company "rocks". You don't have to have personal experience on order to avoid "boileroom" financial institutions. You only need eyes and ears. Citi Financial is ONLY for those people who's credit is not stellar. So go toot your horn somewhere else, because most people aren't gonna buy it.
Manny
Kokomo,Indiana,
U.S.A.
CITIFINANCIAL ROCKS!
#15UPDATE Employee
Fri, April 04, 2008
I am proud to work for the biggest and best financial services company in the world. Faron, if you have a specific complaint, let's hear it. Otherwise, I would suggest you refrain from baseless remarks.
Faron
Houston,Texas,
U.S.A.
Avoid Citi Financial
#15Consumer Comment
Thu, April 03, 2008
As you can see by the employee's drivel (dribble) answer regarding this moronic company, Citi Financial is the bottom of the barrel. When I receive their garbage in the mail for a loan application; it immediately is sent to trash, where it belongs. You should be thankful bottom feeder, that there are people who would sign your BS loan applications. The OP is paying your salary, dingleberry.
Manny
Kokomo,Indiana,
U.S.A.
Ungrateful
#15UPDATE Employee
Thu, April 03, 2008
You waited until the last minute to try to fix a financial crisis of your own making. You freely accepted an offer that we made you. Then, you have the nerve to complain that the interest that we offer is too high on your unsecured HomeOwner I loan. What's your complaint?
Manny
Kokomo,Indiana,
U.S.A.
UNGRATEFUL
#15UPDATE Employee
Sat, March 22, 2008
I work in Indiana, but your comments strike me as outrageous. So let me get this right. You wait until the last minute to apply for a loan. You applied at Citifinancial and were approved for a HomeOwner I loan probably within 20 minutes whose terms were fully disclosed to you. The Homeowner I loan is in no way tied to equity in your house, has a fixed rate and term, has no prepayment penalty, and presumably saved you on your monthly expenses AND you have the nerve to complain because the best and largest financial services company in the world wasn't able to give you the interest you MAY have gotten at a bank if you would have applied at a bank in triplicate a week before your poorly organized finances were going to collapse?? You should call up the branch and apologize, thanking them for saving you from financial ruin!
Manny
Kokomo,Indiana,
U.S.A.
UNGRATEFUL
#15UPDATE Employee
Sat, March 22, 2008
I work in Indiana, but your comments strike me as outrageous. So let me get this right. You wait until the last minute to apply for a loan. You applied at Citifinancial and were approved for a HomeOwner I loan probably within 20 minutes whose terms were fully disclosed to you. The Homeowner I loan is in no way tied to equity in your house, has a fixed rate and term, has no prepayment penalty, and presumably saved you on your monthly expenses AND you have the nerve to complain because the best and largest financial services company in the world wasn't able to give you the interest you MAY have gotten at a bank if you would have applied at a bank in triplicate a week before your poorly organized finances were going to collapse?? You should call up the branch and apologize, thanking them for saving you from financial ruin!