Thursday, January 31, 2008
I HATE Chase Bank and Credit Cards!!!
I'm sure my recent experience is not that atypical of most banks and credit card issuers, but I must admit they definitely try my patience. After being charged $51 for late payment fees after having the customer service representative ADMIT they did not draw the bank transfer as indicated on the due date, I am completely dumbfounded when they claimed they could not reverse the charges. After three days of frustrating calls, and having them treat me like a kindergartener by explaining to me what interest is, and how it's calculated, I decided to pay off the balance and cancel my card. Unbeknownst to me, I realized that they still miscalculated the final balance (after just checking my account online), and still show me as being liable for $2.76! After another incredible call with a poorly trained senior citizen, know-it-all, who is trying again to explain to me why I would be charged because of the time value of money, completely forgeting my point in that the charge is erroneous. In fact, several times I attempted to interrupt the bastard, named Garrett (who refused to provide his last name or his manager, I might add) but he continued to ignore my pleas to listen and instead berated me for closing the account. Finally, after this idiot's tirade, he explains that he will, as a courtesy no less, waive the fee, but discovers that I have closed the account, and then refuses to do so since I apparently have not been very loyal to Chase. To which I request to be passed on to his manager. His response this time is okay, but he will have to put me on hold. After an inordinate amount of time, he claims that his boss is still busy, but I can wait. I will say that after a slight pause, he didn't have time to interrupt me this time as I told him to shove his headset up his fat hairy. . .
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7 comments:
I Hate Capital One
Five years or so ago we obtained a Capital One student credit card for our college bound son. About a year later it became apparent that the $500 credit limit might be a little tight from time to time so I called to request an increase in our credit line. Not possible I was told.
Another year went by before he went maybe $20 over the limit and was assessed an over limit fee of $29 thus prompting another call. This time to again request an increase in the credit limit (still not possible) and a waiver of the late fee. The response from my "customer service" person was to read some prepared text advising me that exceeding the credit limit was "unacceptable".
It was at that point that my normally mild mannered self felt compelled to interrupt. After two years of timely payments I found the use of "unacceptable" to be rather insulting. In response to my comment, she reviewed the account for a moment and replied that we were one of their "best" customers.
Given that this was how they treat their "best" customers, I asked if I could speak to her supervisor. Well, I guess with that request there were now two of us insulted. My offended customer service person proceeded to tell me that no supervisors were available - they were all in a meeting.
Anyway, I was told that she would put in a request for a waiver but she made no promises. As it turns out, they did ultimately credit the account. That transaction was of course the last one that ever appeared on the account.
I wonder if all the managers are in collusion and meeting constantly. Whatever happened to the "customer was always right?" I think we have shifted over time to an "economics" mindset.
What I'm referring to is the knowledge that not all customers are valuable. Think about the credit card industry, and how they make their money. Apparently, no one customer is of value but collectively they provide a very good return, as long as they pay eventually. Most of their revenue is either driven by the percentage they glean from the stores and vendors that we purchase from so many transactions are good. In addition, obviously, they love to squeeze the little guy, like you, pun intended for late fees since no one in their right mind ever pays an annual fee anymore.
So any one customer should not disrupt this cycle of profitability, but I think they fail to realize that people talk and we have choices. Although they can lure us in with attractive "cash back" deals or mileage incentives, we do have a variety of choices. And I choose to . . . screw the dirty bastards every chance I get by telling of my experiences with Chase Bank to everyone I know and hope that the I can eventually reach the far recesses of the internet through this blog. Ok, so I'll continue to tell everyone I know.
Well professor, just keep writing those dissertations on the economics of credit cards and you'll cut our readership in half because I'll stop reading.
Man, that Kinzel guy is needlessly harsh! I don't know why I was fired in the first place but this new guy is not cutting it, right Mr. Huge Ego? That slap in the face of a comment yesterday was just plain out of line.
This is getting really scary. Now I know what happened to Carrie after high school.
You think this is scary? I've split more personalities than an amoeba colony!
Let's make like a banana and split. I'm outa here!
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