What Happened to "Responsible Lending"?

BarTopDancer · 05-22-2008, 01:41 PM

I just received an email with the subject line: Go on vacation with a CitiFinancial Loan.

Quote:

Originally Posted by email body

Summer vacations are great for seeing more of the world or just seeing more of your family. A personal loan from CitiFinancial will help you pay for your time off without departing from your budget. Their simple, one-page online application makes getting a personal loan fast and easy. Whatever your destination, count on CitiFinancial to get the money you need, when you need it. Apply now and you could pick up your check at one of nearly 2,100 local neighborhood branches tomorrow!

• Quick, risk-free application.
• No charges if you return the money within 14 days.
• Payments tailored to fit your budget.
• Nearly 2,100 neighborhood offices to serve you.
• Less than perfect credit? No problem.

Alex · 05-22-2008, 01:48 PM

Are you sure it was actually from Citi? They may be advertising like that but it also reads like a phishing attempt.

BarTopDancer · 05-22-2008, 01:49 PM

Ya, completely sure it's from Citi.

What's your email? I'll send it to you

Alex · 05-22-2008, 01:55 PM

alex@mouseplanet.com

Seriously, I'd like to see it. Here's the product that is probably being pimped. On that page they don't advertise it for such frivolous purposes.

However, it does appear to be a secured loan. And if you were otherwise going to fund vacation through credit cards it isn't a bad alternative since the interest rates are likely to be better. The 14-day return policy (without fees or interest) is an interesting service. I can see this being a slightly less usurious form of credit that payday loan places.

LSPoorEeyorick · 05-22-2008, 02:07 PM

I'm of the opinion that one should not finance a vacation; one should save for it. I know it's not everyone's priority, but it's mine to avoid living beyond my means. I don't sit on money (aside from the retirement fund) and I don't not spend it. I just save the money until I'm ready to spend it, not the other way around.

NirvanaMan · 05-22-2008, 09:33 PM

Quote:

Originally Posted by LSPoorEeyorick

I'm of the opinion that one should not finance a vacation; one should save for it.

I'll go a step further. Other than a house, business, education or a short-term loan for a vehicle, one shouldn't finance anything. Always live within ones means.

€uroMeinke · 05-22-2008, 09:36 PM

Quote:

Originally Posted by NirvanaMan

I'll go a step further. Other than a house, business, education or a short-term loan for a vehicle, one shouldn't finance anything. Always live within ones means.

Nonsense - credit means someone has money and doesn't know how to spend it, why shouldn't it be spent on me? And should tides turn and I can't pay the dept, I'll still always have Paris while my creditor will have to content himself with a write-off.

BarTopDancer · 05-22-2008, 02:42 PM

Alex, you have mail.

On a side note, my WDW trip went on credit cards. Responsible? Not really. But I knew what was doing when I did it. And I'm ok with that.

€uroMeinke · 05-22-2008, 07:51 PM

Hmmm - I don't think I ever "saved" for a vacation - considering the devaluation of the dollar, I can't help but think I made the correct economic choice.

lashbear · 05-22-2008, 08:47 PM

We may have Japan paid for by the time we go again next...

05-22-2008, 01:48 PM	#2
Alex . Join Date: Feb 2005 Posts: 13,354	Are you sure it was actually from Citi? They may be advertising like that but it also reads like a phishing attempt.
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05-22-2008, 01:49 PM	#3
BarTopDancer Prepping... Join Date: Jan 2005 Location: Here, there, everywhere Posts: 11,405	Ya, completely sure it's from Citi. What's your email? I'll send it to you __________________ Spork is the new MacGyver Postcards From My Edge
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05-22-2008, 01:55 PM	#4
Alex . Join Date: Feb 2005 Posts: 13,354	alex@mouseplanet.com Seriously, I'd like to see it. Here's the product that is probably being pimped. On that page they don't advertise it for such frivolous purposes. However, it does appear to be a secured loan. And if you were otherwise going to fund vacation through credit cards it isn't a bad alternative since the interest rates are likely to be better. The 14-day return policy (without fees or interest) is an interesting service. I can see this being a slightly less usurious form of credit that payday loan places.
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05-22-2008, 02:07 PM	#5
LSPoorEeyorick scribblin' Join Date: Jan 2005 Location: in the moment Posts: 3,872	I'm of the opinion that one should not finance a vacation; one should save for it. I know it's not everyone's priority, but it's mine to avoid living beyond my means. I don't sit on money (aside from the retirement fund) and I don't not spend it. I just save the money until I'm ready to spend it, not the other way around.
	Submit to Quotes

05-22-2008, 02:42 PM	#8
BarTopDancer Prepping... Join Date: Jan 2005 Location: Here, there, everywhere Posts: 11,405	Alex, you have mail. On a side note, my WDW trip went on credit cards. Responsible? Not really. But I knew what was doing when I did it. And I'm ok with that. __________________ Spork is the new MacGyver Postcards From My Edge
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05-22-2008, 07:51 PM	#9
€uroMeinke L'Hédoniste Join Date: Jan 2005 Location: A.S.C.O.T. Posts: 8,671	Hmmm - I don't think I ever "saved" for a vacation - considering the devaluation of the dollar, I can't help but think I made the correct economic choice. __________________ I would believe only in a God that knows how to Dance. Friedrich Nietzsche
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05-22-2008, 08:47 PM	#10
lashbear SwishBuckling Bear Join Date: Jan 2005 Location: In Isolation :) Posts: 6,597	We may have Japan paid for by the time we go again next... __________________ *I Heart* my Husband - I can't think of anyone I'd rather be in isolation with.**
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