Comments on: Leadership, entrepreneurship, and hope for our nation’s economy in the face of a credit card crisis

By: Treating customers “fairly” must be an “outdated” promise made by Chase Card Services executives. – ChangeinTerms.com

Fri, 01 May 2009 16:50:39 +0000

[...] reflects yet another change. I presume new testimony, if it was delivered honestly (apparently not among the list of needed leadership competencies to be a Chase executive), would [...]

By: Dr Robert Lahm quoted in Wall Street Journal article on small business “credit woes” – ChangeinTerms.com

Wed, 08 Apr 2009 17:11:46 +0000

[...] on the part of the credit card industry. Not only do credit card companies lack ethical leadership, they act like they are being run by complete [...]

By: Joanne of Open Mind Required

Joanne of Open Mind Required — Sun, 01 Feb 2009 22:16:41 +0000

I will contact you, Bob.

By: Dr Robert Lahm

Dr Robert Lahm — Sat, 31 Jan 2009 17:19:02 +0000

Hi Joanne,

Nice to hear from you again. I think your story clearly is suggestive of the reason credit card companies set limits: so account holders can be “rate-jacked,” and whacked with fees, thereby increasing PROFITS for the card issuers. Also, Chase clearly did not want to be “inconvenienced” by stepping in to resolve the matter of the unauthorized charge. (I am pretty sure you were asking a rhetorical question, but just in case other site visitors have yet to figure this out, or are considering credit cards for any purpose, business, or personal…they should think twice; no make that dozens of times if necessary, so that they might come to the right conclusion: don’t do it!)

By the way, I have updated the “Donate” page, which contains an anchor regarding ways to get involved and lend a hand with this site. As stated is stated on the “Donate” page, however, I am not actually seeking donations, because that would send the wrong message; but, that does not mean I can’t use all of the help I can get, in other ways. In particular, as it pertains to you, I appreciate your continued comments, but I would also like to have you consider becoming a regular author, or a guest author (you are doing the same amount of work, anyway, writing comments). There are some “big things,” afoot, and if you contact me I can discuss them with you, privately (by phone, Skype, etc.). Use the contact form if you might consider pursuing the proposition above, and send me options in terms of ways to reach you (I’ll send you mine in reply).

By: Joanne of Open Mind Required

Joanne of Open Mind Required — Sat, 31 Jan 2009 16:57:04 +0000

I used credit cards for business capital. I even had a Chase card.

When my business cash flow began to decrease with the failing economy, I had trouble paying my vendors. One vendor had my Chase card on file from a transaction a year before and charged $5,000 against it. Unfortunately, at the time I had only $500 remaining credit. So I was $4500 over my limit and was at 29.98 percent.

I informed Chase that this charge was not authorized, but they refused to reverse it claiming the contract allowed for this to ensure businesses such as mine were not embarrassed or inconvenienced by charges that exceeded the limit.

Okay, so what’s the limit for?