My Personal Finance Journey

Personal finance observation, musing and decisions in a journey toward financial independence by 2020 with at least $3 million.


By Topics

Overall:
0. About (10)
1. My Progress (139)
2. Car & Home (107)
3. Credit (138)
4. Banking (33)
5. Saving (49)
6. Investing (308)
7. Taxes (89)
8. Spending (74)
9. Misc (97)
A. Archive (49)



MONTHLY ARCHIVE

Feb 2014 (3)
Jan 2014 (6)
Jan 2012 (1)
Apr 2011 (1)
Mar 2011 (1)
Feb 2011 (1)
Jan 2011 (1)
Dec 2010 (1)
Oct 2010 (1)
Sep 2010 (1)
Aug 2010 (1)
Jul 2010 (1)
Jun 2010 (1)
May 2010 (1)
Apr 2010 (1)
Mar 2010 (6)
Feb 2010 (2)
Jan 2010 (7)
Dec 2009 (3)
Feb 2009 (4)
Jan 2009 (8)
Dec 2008 (1)
Jun 2008 (2)
May 2008 (2)
Apr 2008 (5)
Feb 2008 (3)
Jan 2008 (15)
Dec 2007 (32)
Nov 2007 (6)
Oct 2007 (8)
Sep 2007 (9)
Aug 2007 (24)
Jul 2007 (2)
Jun 2007 (1)
May 2007 (3)
Apr 2007 (4)
Mar 2007 (4)
Feb 2007 (13)
Jan 2007 (6)
Dec 2006 (3)
Nov 2006 (7)
Oct 2006 (7)
Sep 2006 (6)
Aug 2006 (4)
Jul 2006 (10)
Jun 2006 (1)
May 2006 (3)
Apr 2006 (2)
Mar 2006 (6)
Feb 2006 (6)
Jan 2006 (3)
Dec 2005 (1)
Nov 2005 (9)
Oct 2005 (8)
Sep 2005 (13)
Aug 2005 (25)
Jul 2005 (16)
Jun 2005 (17)
May 2005 (19)
Apr 2005 (20)
Mar 2005 (24)
Feb 2005 (23)
Jan 2005 (36)
Dec 2004 (40)
Nov 2004 (34)
Oct 2004 (17)
Sep 2004 (21)
Aug 2004 (59)
Jul 2004 (37)
Jun 2004 (31)
May 2004 (29)
Apr 2004 (52)
Mar 2004 (49)
Feb 2004 (49)
Jan 2004 (31)
Dec 2003 (48)
Nov 2003 (52)
Oct 2003 (29)
Sep 2003 (8)
Aug 2003 (5)
Jul 2003 (2)
Jun 2003 (2)
May 2003 (5)
Apr 2003 (2)
Mar 2003 (2)
Feb 2003 (3)
Jan 2003 (29)



 

Everything is Negotiable

Contributed by mm | June 11, 2004 9:48 AM PST

For CitiBank, everything is negotiable, at least for its Credit Protector Program.

I blogged about the program four weeks ago. I cashed out a $15 check to enrol in CitiBank Credit Protector program with 30-day free trial. I made it clear in my blog that I will cancel the membership within the first 30 days because by common sense, the program is an expensive (85 cents per $100 new balance) insurance that provides only minimal coverage. null

Today I called CitiBank to cancel the service and it becomes interesting as of how the conversation went. The service representative tried very hard to keep my business. He first offered to lower the monthly fee from 85 cents per $100 dollars of new balance to 69 cents per $100. I pushed back. Within a second, he improved the offer again: now the cost is only 49 cents per $100. I made it clear that I think it is a better idea to use the money to buy life insurance and continued to say no. Knowing my resistance, he threw in $100 rebate, saying I can mail in any receipt from charging this card to get up to $100 rebate in cash, and since the terms have changed, I have 30 more days to try the service for free.

$100 sounds like a good enough deal for me so I cheerfully agreed to the new terms. I'm not waiting for the new paperworks to come in. While I will pay out a few dollars to keep this program for some time while I collect the $100 rebate, I can prepay most of the balance before the statement date to minimize my expense in this program.

After all, it is not bad at all to earn $100 with a 5-minute phone call.

More PFBlog Articles You Might Find Interesting ...


This Post Has Received 1 Comment. Share Your Opinions Too.


Lina Del Castillo Commented on May 13, 2006

I was bamboozled out of $415 because I unwittingly signed up for the Credit Protection Fee 5 years ago. When I finally found out that I was paying 60 cents out of every 100, I of course cancelled. I want my money back. Is it too late?



Read More ... 140 Posts In The Same Category










This page was last rebuilt at January 27, 2014 07:48 AM PST.
 

RSS FEED





PERSONAL FINANCE BLOGS I READ

Consumerism Commentary
Get Rich Slowly
My Money Blog
All Financial Matters
The Simple Dollar






.

Error 500 - Internal server error

Error 500 - Internal server error

An internal server error has occured!
Please try again later.



Copyright 2003-2014, PFBlog.com. All Rights Reserved. (Privacy Policy)