I am sorry you had to (are) go through this. Glad that at this point you have won out. I do worry that this type of thing will get out of hand the more it is spread on the internet.
CC Co.s should be better at handling these things. If the merchant has presented adequate proof of reservation (purchase) and has had a good track history - reviews, no or few chargebacks etc. the CC Co should lean to side with the merchant. There also should be tracking of the card holder to see if this is a trend..
copperhead said:
CC Co.s should be better at handling these things. If the merchant has presented adequate proof of reservation (purchase) and has had a good track history - reviews, no or few chargebacks etc. the CC Co should lean to side with the merchant. There also should be tracking of the card holder to see if this is a trend.
The CC co makes 3% off the sale from us. They make upwards of 18% when the guest doesn't pay their bill in full every month. The CC co knows which side its bread is buttered on and it's not our side.
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Madeleine said:
copperhead said:
CC Co.s should be better at handling these things. If the merchant has presented adequate proof of reservation (purchase) and has had a good track history - reviews, no or few chargebacks etc. the CC Co should lean to side with the merchant. There also should be tracking of the card holder to see if this is a trend.
The CC co makes 3% off the sale from us. They make upwards of 18% when the guest doesn't pay their bill in full every month. The CC co knows which side its bread is buttered on and it's not our side.
I got our credit card bill the other day and I had to laugh, not really funny but in awe, it said
the min payment is $40, if you make this payment every month you will pay this off in 23 years.
I appreciated the stern warning, this is a diff cc as my other one was hacked, so I give them 'credit' for spelling it out like it is.
We put everything on the card and pay it off each month, and get the year-end print out of all expenses for my tax time.
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Joey Bloggs said:
I got our credit card bill the other day and I had to laugh, not really funny but in awe, it said
the min payment is $40, if you make this payment every month you will pay this off in 23 years.
I appreciated the stern warning, this is a diff cc as my other one was hacked, so I give them 'credit' for spelling it out like it is.
We put everything on the card and pay it off each month, and get the year-end print out of all expenses for my tax time.
As of 2010 they changed the laws here...
1. They have to clearly indicate all rates in a box (with strict specifications)
2. You have to agree to a credit increase before they offer it. If you agree verbally, they have to get it in writing.
(They now badger me with credit increase offers in the mail and on the telephone.)
3. No over-the-limit fees because of holds.
4. Minimum 21 day grace and true grace, interest on new additions can only start on the 22nd day.
5. They must list how long it will take to pay off your bill if you pay only the minimum payment. (What you see on your bill).
6. They must tell you of interest rate increases at least one period ahead of time.
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