Monday, July 2, 2007

credit card woes

Credit cards. Are they here to help or push you deeper into financial rut?

A friend of mine recently expressed how the snail-paced delivery of the statement of account had cost her unwanted interest fees for delay in payment.

Whose fault is it? The bank sent the statement through snail mail which reached the credit card holder days after due date; thus making her pay additional fees for interest.

This is not at all fair. She would like to pay on time so she won't have to pay double interest but it seems like the bank in charge is making this impossible.

There is a local branch in the city so why can't they do something to help their customers maintain good credit standing?

Are they really here to help?


Triston said...

Credit cards are evil and sneaky! They charge exorbitant fees like interchange and don’t want anyone to know about them, which is why I’m working with Every time a credit card is used at the store, visa or mastercard charge the store a fee known as interchange. That’s fine but while the actual cost to process the electronic transaction has decreased, the interchange fee has increased. As result stores, restaurants and florists are forced to increase the cost of all their products and services. That leaves you and me to foot the bill, whether or not cash or credit is used.

Hope that makes sense to you. Best of luck.

funny said...

OMG! Thanks for giving us this useful info. I am the more convinced now to use my scissors and get rid of 'em.