I’ve long been perplexed by some banks’ claims about credit-card business, especially after seeing their approaches to gullible college students and rates that can approach 20 percent a year if you’re not careful or get in a jam.
Those of you who have older kids or grandkids can share those worries.
That’s even before wondering about the vice presidents or higher-up executives who approve what seem to be high-risk strategies – and then come to the public for relief. You know, handouts, 20 percent annual rates, and protection from bankruptcy filings by average people. Or should we say Real People unlike the corporations?
A recent experience of trying to close an account with one of them was especially trying. In the end, I’m not sure who closed whom except that the clock was still ticking on the interest – on the consumer, of course.
And then less than a month later, I’m getting solicitations to open another account with them – “We’ve matched you with this exclusive offer,” as one proclaims.
No thanks. And by the way, the same day’s mail included one that would give me money back on the transactions. It’s not 20 percent, but it’s in my direction.
From my perspective, that one has some credibility.
Gee, and we haven’t even touched on the retailers’ complaints here. Let’s just say they have my sympathy.
Jnana's Red Barn 