Credit Card Customer “Service”

Posted on February 2, 2009
Filed Under Credit Cards | Leave a Comment

I’ve been reading how certain credit card companies are tightening up and canceling card accounts that are in good standing for whatever reason. “Never happen to me,” I thought – usually when I read a story like this, there seemed to be an underlying reason – the account was inactive, something not related to the card had caused a downgrade in the user’s credit score, etc. Neither situation applied to me – I had committed no credit altering financial sins since the card was issued, and we use(d) it for almost everything except our house payment. We also paid the full balance every month, on time, without fail.

It came as a big shock, then, when I tried to use the card last Sunday and it was denied. I thought maybe something was wrong with the card reader. The clerk entered the information manually (several times) and got a manager to try as well. Luckily I had enough cash to pay for the purchase – I usually don’t carry cash. After leaving, I called the customer “service” number on the back of the card and was informed that our account had been canceled. According to the person I talked to, they had done a periodic check of my Experian credit report and determined that I was now too much of a credit risk, so they just canceled our account – no warning, no courtesy call, nothing. No new negative credit issues since the card was issued, no change in usage pattern, no late payments ever.

I know my credit score is ugly, but then they didn’t have to issue the card in the first place. To add insult to injury, they sent us a letter after canceling the card saying that “it may be reported negatively” to credit reporting agencies (we’ve done nothing wrong) and threatening to send our account to collection if we don’t pay the remaining balance in full (after a perfect payment record. When I called and asked about our cash back bonus that they owe us, the person I spoke to said we “should” get it, but she couldn’t tell me when.

I always thought of this card company as a first class operation – not one of those fly-by-night outfits you sometimes read about. I don’t know what to think of them now.

I have many thoughts about this, most of which aren’t suitable for a web site that aims to promote a Christian world view. I’m sure there is some upside to this, and I’m working on developing a positive attitude towards this. I guess I’ll wait and see if they try to rip off my cash back.

Cheers,

Ken

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