Citifinancial Bait And Switch they guaranteed a 7% rate on a personal loan and at signing changed it to 27% Lake Worth Texas

I don't know what this jargon is you're referring to; I can understand that just fine and I don't work for Citi.

As far as your comment: "Wrong your trained in company procedures and most important JARGON!!"

First, it's "you're" not "your."
Second, please inform me of a company that does NOT train their company procedures to their employees? Following company procedures and policies is kind of the point, or am I wrong? Anyone?

I have to say, this is the most ridiculous comment I have ever read. Thanks for the laugh!

I don't know what this jargon is you're referring to; I can understand that just fine and I don't work for Citi.

As far as your comment: "Wrong your trained in company procedures and most important JARGON!!"

First, it's "you're" not "your."
Second, please inform me of a company that does NOT train their company procedures to their employees? Following company procedures and policies is kind of the point, or am I wrong? Anyone?

I have to say, this is the most ridiculous comment I have ever read. Thanks for the laugh!

Manny you are clearly a green horn to the financial industry!!! All I hear from you is company jargon. Compared to a legitamate lending establishment the services, products, and personel are at such a substandard its mind boggling. to think a company that hires people that didnt even graduate high school to work with people on their mortgages is just stupid. most of you people working there live in your parents basements and have no idea of what the home mortgage process is.

But I know Manny you get the best training there is right???? Wrong your trained in company procedures and most important JARGON!!

Most of CitiFinancial's marketing mailers are NOT guaranteed. They are usually "preselected". There is a difference. Bait & switch my left foot! READ your mailers, READ them! I cannot tell you how many calls I field from people who think (hope) preapproved means guaranteed. As far as a guaranteed rate, bring that letter to any CitiFinancial office & I guaranty if it actually says guaranteed, you will recieve what it states.

Most times issues like these are caused by uninformed consumers not reading the documentation. Our company takes great, great pains to ensure total disclosure to our customers....and they still "don't understand"....Try to keep in mind...Norma is just a person too!

Like any other finance or credit card company, Citifinancial Services sends out mailers that on the front page say that you are pre-approved or guaranteed or something to that effect for a loan at X percent. If you read the fine print, just as with all the other companies that use this type of solicitation, you are not in fact approved for anything and must fill out an application and meet standard credit criteria. We are quite open about this when you call or come in.

When you come in to a Citifinancial branch with this type of offer(?), you will then give your information, an application will be processed after pulling your credit report, and you may be approved for a loan at that time. When and only when you are given the "loan approval conversation" you will know what you qualify for and at what rate. If you want it, we can usually hand you a check within 20 minutes on personal loans and if not, no problem. There is no prepayment penalty on personal and equity loans and we can do more for our customers than any other company both before and after the deal.
Manny

Thank you for speaking up on what you knew. So many consumers totally do not listen at all during a loan closing and then insist on details that are so outside of a companies policy it is laughable. Working in this industry for over 10 years, I can't say how many of these types of conversations I have had with people. Ultimately, it is you that are signing a legal document, shouldn't you read it prior to signing? And know what you are getting yourself into? And not sign it if you don't like it? Lets all try to take some personal responsibility.

Thanks for the help. I am fairly certain of the rate, but not positive.
What I am sure about is that whatever rate we agreed upon put me at $200 a month and when I went in to sign and get my check, my payments became $347.
Maybe there was a miscommunication, but I was counting on that cash.

Hello Hannah,

I'm a former employee of Citifinancial. I was only there for about 7 months, but still long enough to have my eyes wide opened when you said they had a 7% loan offer for you.

Citifinancial is a SUB prime lender. The typical loans from them range from 19-30% rate. So when you said that they had you guaranteed for 7% it struck me just a bit oddly.

Are you sure that the 7% wasn't an offer from perhaps CitiBANK? Maybe the representative who took your application told you that you might qualify for a loan elsewhere for 7%??

The lowest loan I ever closed while I was at Citifinancial was 11% rate.

Either way, when I worked there they did offer a 14 day guarantee. If you are not satisfied with your loan within 14 days of the loan closing, I think you have the option to return the proceeds of the loan and you can cancel the transaction. They might still have it in effect.

Best of luck