Last month I called Chase credit card company to complain about changes that I saw in my billing. I was upset because they started charging me crazy fees- $10 per month to keep my account open, and charging me 5 percent of the balance each month. They said that they had sent me notice that they were going to do that, unless I agreed to let them change all of my transferred balances to 8.99 percent, then they would let my minimum payments go back to 2 percent of the outstanding balance and I wouldn't have to pay that $10 per month. I lit into them so badly- I called them twice. "You guys are getting bailout money, and you are screwing taxpayers!" , I said. The people on the other end of the phone were amusing, with their East Indian accents. "Can I offer you protection in case you become unemployed or disabled and cannot pay your bill? It's only 99 cents per 100 dollar balance that you have, each month..." Well, I almost told them to go to hell with that (Michael Jackson- remember what I advised you to tell Gloria Allred)? I ended the conversation by telling them that I was going to do my best to never do business with them again.
This month, I just reviewed my next payment, and I noticed something very interesting....
First, the ten dollar per month fee is gone.
Second, I was refunded the ten dollar per month fee for last month.
Third, my minimum payment is back to 2 percent.
What happened?
I'd like to think that public backlash and the Obama Administration had a lot to do with it. But even if I'd not like to think that, I'm sure that these ARE the reasons. What do YOU think?
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