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Sunday, December 12, 2010

Unethical Credit Card Companies

Many credit card companies have perfected the art of cheating customers. Some of the unethical practices are listed below:

1. The cheque a customer drops in the drop-box goes missing (and it is done deliberately with a malicious intent). The customer is informed that his cheque was not received and he will have to bear the late payment and finance charges.

2. The cheque dropped by a customer is not processed deliberately until a few days after the due date. And then the customer is informed that he will have to bear the late payment andfinance charges.

I had a really bad experience with one of the "branded" credit card companies. I was wrongly/unethically charged for late payment (unethical practice 2). I agreed to pay the ethical/correct/fair amount and dropped a cheque in their drop-box. And then they informed me that the cheque was not received by them (unethical practice #1).

I communicated with someone who was holding the position of "Asst Vice President - Customer Service". After this experience I was wondering how come this person got to this position? She should have been actually given the designation of ""Asst Vice President - Customer Harassment".

Anyways, I have canceled this credit card and am fighting it out with them.

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