The Outpost used to have a credit card through troubled Citigroup. We didn't do it on purpose; we got the card through another company, which Citigroup then bought.
We paid the monthly bill on time for several years. Citigroup's own records don't show that we were ever late. Then one month earlier this year I let the bill get lost in the endless piles of paper on my desk. I didn't know it was due until a few days after it was late and somebody from the company called and asked about it. I paid the bill the next morning, plus the payment for the following month.
No use, of course. Our interest rate more than doubled. The Citigroup rep said we should call and ask to have the increase reversed since we had such a good payment history. But as it happened, we had better options available at the time, and I didn't feel like pleading. I closed the account. Instead of making a small but solid profit from me every month, Citigroup's profit went to zero.
No doubt the company works under some formula by which that calculation makes sense. No doubt most people don't have the options we did and just have to swallow the increase -- if they can, or go under, if they can't.
But it seems to me that a company too big to know who its honest customers are might be too big to be in business. And it shouldn't expect my vote for a bailout.