Stupid, evil credit cards 2
21 March 2008 Jeff Gill
I wrote before that our two iMacs were on a 12 MONTHS INTEREST-FREE ON BALANCE TRANSFERS credit card from MBNA. Those twelve months ended near the beginning of March. Because I am working hard on managing our money, I set a date two weeks before the 12 months ended, and I paid off the card on that date.
I was obviously not pleased then when I opened my latest statement to find that I have been charged enough interest to wipe out half the interest I earned by the smart thing I did.
When I called MBNA to ask them to clear up the obvious mistake they had made, I was informed that ‘12 months’ doesn’t actually mean 12 months. In my case it turns out that ‘12 months’ meant 11 months and two days.
I said to the call centre person, Doesn’t it seem little dishonest to offer me 12 months with no interest but only give me 11 months and two days? And they said, and I quote: Blah blah blah blah policy blah blah clearly stated blah blah blah nothing I can do blah blah get off of our free phone line, you worthless piece of lichen.
The moral of this story is that credit card companies (and, even more so, insurance companies but you knew that already) are Evil.
Always assume the headline is a lie.
Always read the fine print.
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tags: debt,
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