Quote:
Originally Posted by Willie Williford
All that is water over the bridge. I think most people went on with life.
I did.
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Hopefully I am not opening old wounds, but I just finished reading this thread and a companion thread and feel a need to make a comment.
There are lots of posts about individuals contacting their CC company and getting there money back that way. That is great for the individual and for those that are successful... I am happy for them.
I would like to expand that trail and comment about the larger picture and the effects. CC companies may refund/credit individual accounts, but ultimately they will recoup their losses one way or the other (or go out of business themselves if losses get large enough). In the end the result is the cost is just passed on to the larger consumer base through higher CC fees to the business and thus higher cost of goods to consumers. My experience (through a stolen CC experience) is the CC company makes no real effort to recover or prosecute...simply absorbs the loss. Meanwhile, someone in the pipeline just pocketed some money.
It is just like the housing bubble that burst. All the bad mortgage writers/banks made tons of money in fees. Few of these individuals, if any, paid any price. We the larger consumer base (taxpayers) have picked up the tab. Although LLCs, etc., it may be argued, are necessary, it seems it makes it easier to walk away from what in the end are individuals' mistakes/miss-steps and again puts the risks on consumers(taxpayers).
However, as Willie said, we just need to move on. I am just glad I took the approach of limping along on the old worn out battery for a while and look for other solutions in the meantime.
Buyer Beware.
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This gave us the straight dope on if you were rich or just think you are "rich". Then the card application had a profitable calculation if you were a "good customer" for the bank or not. This was used for changing aprs, refunding fees, increasing credit limits. Unlike the net worth calculator, this one wasnt always straight forward as one would think. Of all it declined anything for customers who used a credit card as a loan and just made the min payment monthly. If you milked you card for points or frequently paid fees it would say REFUND.
