Credit Card Fee, Rate Hikes Squeezing Customers
Anna Werner continues her investigation into credit card sleeze in this piece. Last week, CBS 5 invited affected credit card customers to their studio to follow up on her first two reports. Anna interviews this group of people who have all experienced shocking changes in terms from their credit card companies. Chase and Capital One are named numerous times throughout the broadcast. Take a look at comments on the response page which CBS 5 received after airing their report.
Kudos to Anna for staying on this story. Anna has done impressive work in the past which resulted in national acclaim. Let’s hope this story receives the same attention.
Excerpt from Anna’s bio: ” Anna Werner, one of the nation’s top investigative reporters, is the chief of CBS 5’s investigative unit.
In 2008, Anna Werner was named “Reporter of the Year” by the Associated Press Television and Radio Association and was honored to also receive an Emmy as “Reporter of the Year” in Northern California. These honors are among many Anna has received since joining CBS 5 in late 2004.”
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on Mar 12th, 2009 at 11:54 pm
We are in a real conundrum. One has to realize that:
1. Banks dont care. They are getting billions of dollars; they do not need their credit card businesses anymore. If they have alot of defaults, they just go hat in hand to the Federal govt crying about their default rates.
2. Politicians dont care. You can bet they are being paid off not to do anything.
3. Gov’t institutions dont care. The people that can do something have either been paid off, or have no power.
So what can one do? The class actions are a great start, but could take years…
The only hope I believe is if the Federal Government lets the big banks go bankrupt. They will have to fight for every dollar then, and possibly get new leadership that know how to run a business. Dont see any other way.
on Mar 12th, 2009 at 11:56 pm
As an aside, I just received a customer feedback card because of my talk with Chase executive office. I will send it back with a letter saying how hypocritical they are about worrying about feedback, when they are throwing hundreds of thousands of customers to the wolves.
Unbelievable.
on Mar 13th, 2009 at 10:41 am
Hi Steve,
I have one, too. And I agree, it’s astounding that the “Customer Experience” group at Chase would even bother to ask (since Chase obviously, as evidenced by its egregious actions, does not care whatsoever).
I plan to scan mine, and then put an electronic stamp on it (i.e., one that looks like a rubber stamp), which communicates to the effect, “This is MY FEEDBACK: ChangeInTerms.com.”
Nice to hear from you, Steve. Take care.
on Mar 13th, 2009 at 6:12 pm
Great idea….will at least reference the site for “customer satisfaction”.