Credit Card Deals - Drawbacks Outweigh the Pluses!
There are lots of people who just don't know much about credit cards. And they go bankrupt. I was educated brilliantly - I knew everything about all kinds of credit cards. Was almost expert. But...
I sincerely thought that the whole credit card system really helps people establish a good financial background. I learnt the truth later. When I got into big troubles.
Let me tell you what happened not so long ago. I made a credit card. I addressed to the Discover credit card company since I knew that it is one of the biggest credit card providers that effectively fight against credit card fraud. I relied on them. I was completely confident that they will notice every minor suspicious thing. But my expectations weren't justified.
The treatment that I experiences made me think that the whole fraud thing was of some benefit to the card issuer itself. As a responsible and reliable card holder, you must know the companies involved in protecting your clients' data. There are the Fair Credit and Reporting Act, as well as the Federal Trade Commission that are concerned with watching the fraud alert system and the implementation of this system.
The question is: whose fault is it that the alert system doesn't work? How is it that the fraud money transactions are still carried out? Is it just a mistake or - a smart plan of the indecent credit companies? The fact remains the fact. I suffered from the fraud actions. Only after a number of fraud transactions have been made, did I receive a phone call from my company! The asked for the verification. But it was too late.
Well, let's assume those were the actions of my credit company. What's there gain in such actions then? Just imagine, I would have been forced to repay all the money with interest, if I didn't prove I never did all those payments. There are cases when people were just caught in the debt prison.
How else am I to explain the policy of the banks that do not reinsure themselves and get in touch with the clients every time a strange transaction has been made? So many people don't even imagine that the whole credit card story may lead to a financial crash. Sure, it's not a fact that it is all done on purpose and that alert system fails on purpose as well but it is clear that modern credit card system still needs a better protection.
Nevertheless, banks and credit card companies promise the whole world high security, fraud actions happen. So, please, think twice.
Carol 04:43 AM, September 24, 2007
Yeah, the situation isn't to be desired. But is it somehow possible to find a decent credit card company?
J.D. Power and Associates, an information services company, best known for conducting surveys of customer satisfaction, buyer behavior and product quality, has revealed the results of a recent credit cards satisfaction study. The purpose of the survey was to figure out what pleases and what irritates customers in credit cards they currently use. Over 7,600 customers participated in the poll.
The customer satisfaction was appraised by several criteria. Rates and fees, interaction, rewards programs, payment process, extra benefits and services. As the research showed, two credit companies ranked significantly higher than others. These lenders seem to know what buttons to push to please the customer.View full story... Comments (0)
The situation with gas prices keeps getting worse. No wonder that nearly all car owners try to cut down gasoline expenses. Some just drive less. People, who cannot imagine their life and their spatial motion without a car, seek for other ways to save on gas. Gasoline credit cards are a great option for such people.
A new credit card from Citi, called ExxonMobil Platinum MasterCard is a very good chance for those, who drive a lot to cut down their expenses associated with gasoline and car maintenance. With this card every driver can save 15 cents from every gallon purchased at Exxon and Mobil gas stations. Learn more about this deal.View full story... Comments (0)
US residents, owning an American Express Gold Card now can get even more benefits from the card's rewards program at no additional cost. American Express has recently upgraded their Gold Card Destinations program. The company wants to offer more travel rewards to its customers. What would you say about a $75 credit on food and beverage just for booking an accommodation for 2 or more consecutive nights at one of the participating hotels?
Though autumn will soon change the vacation season and the travel fever will be over, AmEx decided to extend the summer pleasure for its clients. American Express knows how to please their customers, especially when it comes to travel rewards.View full story... Comments (0)
