ix21@sdccs6.UUCP (05/03/84)
This article is being reposted because several people said they received the article truncated. There has been some discussion about the value (or lack thereof -) ) of Citidollars. I recently received their latest copy of their regulations for their credit cards which contained some disturbing fine print. First they stated that if your balance is subject to a finance charge, the finance charges on new purchases commences on the date the purchase is made and not the date of posting. Which means if buy something on 5/1 but the merchant does not take the slip to the bank till 5/15, you still pay the interest on the period between 5/1 and 5/15. To my knowledge no other credit card calculates finance charges in this manner. Second I noticed the usual statement about about the rights you have when you have a disagreement with a merchant for a product over $50 and purchased within your home state or within 100 miles. What was unusual was a statement was a statement that the cardholder waives all rights not granted by this law. I never tried getting Citibank to help with a problem with a product before, but when I had a problem with a product I bought with another Bank's credit card, they credited my account instantly without any hassles. Maybe I am being overly suspicious or a nit-picker, but I prefer a credit card that does not have a lot of fine print. David Whiteman