Citi is an efficient organization - but they are blood-suckers. In India recently, they offered cards with as high as 33% interest rates. Too bad we do not have usury laws in India (do we???) so they could be criminally prosecuted. In the land of Mahatma Gandhi, where hunger and disease are still our key problems, this institution had the audacity to offer such bloodsucking terms.
Now having cursed them, let me be fair and point out that a lot of Indians think that credit card is used only to buy stuff. They forget that at the end of the month there is a statement of charges which need to be paid off. And because the system of trac king indiviuduals is not so well established within the proper channels in India, people use the card and forget about the payment history. That’s a shame. Which explains how credit card companies like Citi justify their bloodsucking.
As India becomes more internationalized, there will be a lot of people looking to make a quick buck. Citi has tried to do that already. I hope they change. But, their interest rate aside, this is a thoroughly professional organization which will exceed expectations.