I'm tired of credit card companies trying to pull a fast one

spinbaby

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Wed Jun-17-09 08:35 AM
Original message

I'm tired of credit card companies trying to pull a fast one

The latest is a lengthy list of amendments. If you read it very carefully, you can discover that they plan to charge your inactive card an inactivity fee of $19 unless you decline the terms and close the account. You can do this ONLY BY MAIL AND YOU HAVE FIVE DAYS TO GET IT TO THEM. They probably figure most people won't read this, and most of the ones that read it won't bother to get something in the mail immediately, so they'll get to charge them $19.

So I have to go to the post office at lunchtime to send a letter by certified, registered, or whatever kind of mail gets me proof that I've declined their offer. Probably this will lower my credit rating.

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avaistheone1

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Wed Jun-17-09 08:39 AM
Response to Original message

1. Credit card companies are a bunch of crooks.

I tossed my credit cards a decade ago. I only have a debit card now.

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ejpoeta

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Wed Jun-17-09 08:39 AM
Response to Original message

2. they are sneaky bastards. but if they can get away with it, they do whatever they can.

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Mnemosyne

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Wed Jun-17-09 08:41 AM
Response to Original message

3. Bastards! My daughter was sobbing yesterday as they keep

changing the due date and lowered her line of credit, then charged her for over limit and late charges.

Bastards need a reality check.

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Another Bill C.

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Wed Jun-17-09 08:41 AM
Response to Original message

4. Join a local credit union

and get their card. You'll have a local board of directors to complain to and you can run for a seat on that board yourself. The local CU may not have all the bells and whistles of a large bank but there's a lot more peace of mind.

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DontTreadOnMe

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Wed Jun-17-09 08:46 AM
Response to Original message

5. So go buy something for $5 on the credit card

and then pay it right away. And you are not "inactive"

I am not agreeing with what the CC are doing, but it seems easier to beat them at their own game.

Actually using your credit card, with low amounts and paying it off 100% before the due date will help your credit rating.

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spinbaby

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Wed Jun-17-09 08:52 AM
Response to Reply #5

6. I'm too annoyed with them

This card is going in any case.

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Gidney N Cloyd

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Wed Jun-17-09 08:55 AM
Response to Original message

7. What card is this?

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spinbaby

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Wed Jun-17-09 08:56 AM
Response to Reply #7

8. Fifth Third Bank n/t

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MadHound

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Wed Jun-17-09 09:02 AM
Response to Original message

9. So, why not cut the card up, and go to a cash/debit card/ check basis

It's a lot better for your finances, your life and your blood pressure.

I've been plastic free all my life and never experienced the stress that cardholders seem to have on a regular basis.

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snappyturtle

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Wed Jun-17-09 09:08 AM
Response to Reply #9

10. It's not that simple. nt

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MadHound

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Wed Jun-17-09 09:39 AM
Response to Reply #10

12. Why not?

I've found living life without plastic to be quite simple, and much less of a hassle than my friends and family experience having a credit card.

My finances are in good shape, my credit score is great, I've rarely experienced any sort of hassle not having a credit card.

Having lived almost five decades without plastic, yes, it is, in most cases, that simple.

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spinbaby

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Wed Jun-17-09 09:09 AM
Response to Reply #9

11. We keep a couple of cards for travel

They always get paid off immediately. We got this particular card when we opened a checking account with the bank and they convinced us to tie overdraft protection to a credit card. The checking account has long since moved to another bank but we still have the credit card. We've never used it--just kept in a drawer for some vague "emergency" in which we might need it. I can see why the bank would prefer we close it--it's bookkeeping for them for no good reason--but this kind of sneaky inactivity fee just pisses me off.

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OPERATIONMINDCRIME

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Wed Jun-17-09 10:31 AM
Response to Original message

13. I Have No Problem With That.

They sent it out, they expect you to read it, it's your responsibility to follow through.

Someone not reading it or someone too lazy to put it in the mail are responsible for the outcome.

There are administrative costs associated with having credit cards. If it's inactive and it's COSTING them money to even have your account open, then why shouldn't they charge a little? I mean, I would rather they didn't, but is it really something so outrageous for them to do?

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