jniolon@uss.com wrote:
> Richard,
>
> Here's one of my rants that I fired off to Sears after a late charge was
> tacked onto my 21% interest charge account.
> Made me so mad I paid them off and sent this letter. I enclosed my credit
> cards (in small pieces). It did get a response apologizing and a $25.00
> certificate to use at my local Sears store..
It doesn't work nearly as well as that at Citibank.... I got a statement
with a $29 late charge on a $36 balance received only four days after
the due date, paid the bill and sent back the credit card with the bill.
I got a letter saying, "we don't understand why you returned your card.
Perhaps you misunderstood the reason for the late charge," and the
letter went on to explain. I wrote them back and said, I never argue
about a bank charging interest for the time I have their money. Late
charges should be applied for exceptional payment problems. It is not a
matter of misunderstanding, but rather, disagreement with the practice,
since it is effectively a rate of interest which is usury--80% interest
for four days. I can get better terms from the local loan shark.
All I got from Citibank, in reply, was a letter notifying me that my
payment insurance was cancelled. I'd had their card for roughly thirteen
years.
Sometimes complaining works, sometimes not.
Cheers.
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