Tuesday, July 28, 2009

Recession Over

That's right. The recession's over. From here on out, it's "To the moon, Alice!" Exponentially-expanding public and private debt for everyone!

I say this because in the last week, not one but TWO of our credit cards have raised our credit limits. And substantially, too. Happy happy, joy joy, and so on.

Actually, I don't really care. I just get a kick out of reading the "Hooray for you! We've raised your limit!" letters. They're really quite entertaining.

Here's the latest version from Citibank, late beneficiaries of gazillions of Bailout Bucks and taxpayer-backed loans:


We've increased your revolving credit line to $XX,XXX.

It's our way of saying thank you for maintaining such great credit.

Well, we're so happy you noticed.

You pay your bill on time every month. You don't exceed your limit. You pay more than the minimum due whenever possible.

Pay on time? How 'bout "Pay the day after the statement is generated?"

Exceed my limit? We haven't so much as sniffed our limits in years.

Pay more than the minimum? Egads. We pay our balance in full, every month. Which is completely not by accident. (Kinda pisses you guys off, doesn't it?)

You've done everything right and we're rewarding you for it. After all, that's what being responsible with credit is all about. So we've raised your revolving credit line on your Citi® Dividend Card to $XX,XXXX.

Fantastic. Hey! Here's an idea: How 'bout you lower my limit back down to what it was, and instead, return a few thousand TARP dollars? I'd be good with that.

No? How come?

What? You're insolvent?


Whether you're using your card for everyday purchases or an unexpected expense, knowing your credit line increase is there should you need it can make managing your finances that much easier.

Sort of like how you guys knowing the taxpayer is there "should you need him" makes keeping your doors open easier?

This is just another way we are standing by our loyal cardmembers; we can't say thank you enough.

Uh huh. Stuff it.

By the way, Citibank: How's our recent cash-only experiment working out for you?


— Posted by Michael @ 8:09 AM

** Comments Closed on this Post **

Thoughts on my personal finances, goals, experiences, motivations, and accomplishments (or lack thereof).

My financial life began turning around when I took responsibility for it.
— Dave Ramsey


Start (2005-12): ~$21,900
Currently: $0
[About Our Debt Paydown]


Savings Goal: $15,000
Currently: ~$15,115
[About Our Liquid Savings Goal]