Christopher meant well. He tells Consumerist that he called his credit card company to let them know about a merchant that posted a minimum charge amount to use a credit card. MBNA, in turn, decided that Christopher didn’t sound like he “was supposed to” and froze his account. [More]
CNN has an interview with two former credit card bankers who are admitting that their job was to get consumers to max out their credit cards and take on as much debt as possible, regardless of the customer’s ability to afford it. They both worked for MBNA at their “sprawling consumer call center in Belfast, Maine.” The bankers say that they were told to aggressively push cash advances, and were trained to convince consumers that they needed the maximum amount of debt at the highest interest rate.
Elizabeth Warren, the doyenne of consumer debt, received a frank email from a lawyer that shows the anti-consumer bias of binding arbitration. The lawyer was attempting to arbitrate a dispute with MBNA, a difficult task complicated by the bank’s refusal to participate.
Bank of America recently bought MBNA and greeted their new customers by charging them a new fee.
Several major credit card companies were successfully and recently class-actioned for charging unnecessary fees for overseas transactions.
Welcome, New York Times readers. Here’s a bit of an intro to The Consumerist, if you’re curious and want to learn more.
Above, the shocking footage.
Presented before at a company luncheon. Possibly recorded as recently as November 3rd.
Ring ring, Mr. Banker, pick up the phone, we hit the stopwatch and hang up. Here are the results.
Today’s results in our week-long test of how long it takes banks humanoids to pick up the ring ring ring.
The results of today’s benchmark test to see how long it takes banks’ live humans to pick up the phone.
We’ll be calling up the banks this week to see who’s the quickest at having a human pick up the phone.