Credit cards and 40% annual interest and penalties

Published by rudy Date posted on May 5, 2010

I’ve decided to give up my two Citibank credit cards—Visa and Mastercard. They charge more than 40 percent annual interest and penalties for late payment are compounded. Every now and then, too, I am made to pay these penalties.

I don’t know if Citibank does it on purpose, but it sends me my billing statements late. What a ripoff!

I wonder what happened to that Supreme Court decision which found banks overcharging for loans and credit cards. He court pegged interest rates to only 12 percent annually. Obviously, the Bangko Sentral is unmindful of banks making oodles of money at the expense of consumers. –Manila Standard Today

June 2025

Philippine Environment Month!
“Action for Nature, for the Future!”


Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.

Accept National Unity Government (NUG)
of Myanmar.  Reject Military!

#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos

Time to support & empower survivors. Time to spark a global conversation. Time for #GenerationEquality to #orangetheworld!

Monthly Observances:

  1 Jun – World Day of Parents

  5 Jun – World Environment Day 

  7 Jun – World Food Safety Day 

  8 Jun – World Oceans Day

12 Jun – World Day Against
Child Labour

15 Jun – World Elder Abuse Awareness Day 

16 Jun – International Day of Family Remittances 

17 Jun – World Day to Combat Desertification and Drought

20 Jun – World Refugee Day 

25 Jun – Day of the Seafarer 

27 Jun – Micro-, Small and Medium-sized Enterprises Day

 

Daily Observances:

First Saturday of July:
International Cooperative Day
in the Philippines

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