28 July 2011

Has the banking industry learned?

Likely not, but I was presently surprised at the outcome of two calls to credit card companies yesterday.

In one case we were closing out a card we've had for many years, with a high credit limit, but one that carried a $60/year service fee.  We were prepared to be begged, beaten and fought the whole way but instead, the customer service rep gave us a solution to a problem we mentioned, gave it one try to keep us on and then listened to the customer and immediately closed the account.

In the other case, in a response to an email that offered 12 months interest free if making a purchase by May 31st, we made a large purchase.  2 months into the deal we received interest charges on the most recent statement.  Customer service rep looked at, said it made sense and immediately filed an internal claim to get things fixed.  Even when I offered to send the proof, she said that it likely wasn't needed and that this has happened before.  The only issue was that it could take up to 10 business days for the solution but yet, there was no arguing or repeating the "obvious" problem that happened (which is that the vendor billed our card each time they shipped part of the order versus billing it all when we made the purchase).

Maybe I'm punchy tired, but for a moment I thought that the Financial Industry is actually being thankful to the public for bailing them out and treating people they've extended credit to as human beings.

Who knows, we can only hope.


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