COMPLAINTS ABOUT CREDIT CARD FEES OR RATES
Do you have major complaints about credit card fees or their ridiculous rates that’s higher than a loan shark?
With current state of the economy, it’s no surprise we are hearing an increased number of backlashes and revolts.
Complaints for the credit card solution can be resolved by following these four tips:
(1) Write a letter to your bank a written description of the issue. Say what you’d like done. Be Clear and concise. If you must, try registered mail or certified mail, although that’s an extra cost.
There’s still a lot of competition in the industry and banks and credit cards want your business.
But might even consider taking your business elsewhere, but…
(2) Consider taking your business elsewhere. Just be aware that closing accounts, especially those with a long credit history, could hurt your credit score.
Shop for low-rate, low-fee cards at Bankrate.com, CardWeb.com and CardRatings.com.
(3) Try notifying regulators (for US based card holders):
The Office of the Comptroller of the Currency (www.occ.treas.gov) regulates national banks.
The National Credit Union Administration (www.ncua.gov) oversees credit unions.
The Office of Thrift Supervision (www.ots.gov) regulates thrifts.
(4) Send a copy of the complaint to your legislators and to consumer advocacy groups such as Consumer Action and Consumers Union.
You can search for elected officials by entering your ZIP code on Consumer Action’s website, at www.consumer-action.org.
Consumers Union, publisher of Consumer Reports, has a sample Email on its site (www.consumersunion.org) to send lawmakers if you favour reform of credit card practices.
If any of these tips work for you, please post a comment below.