I Did The Math Citibank

I did the math on the balance with Citibank and their ridiculous new terms.



On my card balance if I paid the new interest rate at the minimum 3% payment it would take me 50 years to pay off the card and I would ultimately pay Citibank $50,000.00 in interest.

Under my old terms it would still take me 50 years but Citibank would only earn $7491.00 in interest.

I will be out of credit card debt in November 2010 - regardless of what Citibank charges me....but what if I could not do that. What if I had to make the minimum payment because that was all I could afford. What if I was living on the edge.

These bankers are really thieves dressed expensive suits.