Why Most Consumer Criticism is Unjustified
Filed Under (Credit Cards Blog) by creditblogger on 28-07-2008
These days you hear from a whole lot of people about how their credit card companies ripped them off. To be honest, I don’t doubt that some credit card companies do rip people off on an everyday basis. but for some reason, those who complain the most are people who actually do not have a valid case.
BadCreditCards.org is a credit card organization that talks about bad credit cards and allows consumers to post their complaints about major credit card companies such as Chase, American Express, Citi, Advanta, and … If you go to one of these pages, you probably see a couple of thousands negative feedback for these companies. But based on my experience, 90% of these claims are just not valid.
I can’t tell you how many times I have seen people complain about the fact that their rates were increased because they were late by a day. Being late is simply being late. If you don’t pay your bills on time, then you shouldn’t expect credit card companies to do you any favor. I know a few credit card companies that forgive such instances, but if you can’t bank on that. Also, people complain about transfer fees. Balance transfer credit cards all come with fees, so you simply can’t ignore that fact and expect not be charged when you use your card.
The moral of story here is you need to pay your bills on time, and you need to read the footprint. I personally don’t agree with the fact that credit card companies get a way with putting their terms and conditions in a small font on a seperate page than the application page. But we all know how the game is being played, so make sure you click on the terms and conditions link on the application page every time. Once you read it and understand it, most likely there won’t be any suprises.
Have you had any credit card companies rip you off? Please share your experience here.
