Credit card companies love to advertise all the perks of being a cardholder — rewards points, cash back, airline miles, etc. — but card issuers have historically hidden the not-as-good stuff in the fine print of card applications. A new study finds that banks are doing a better job of making things more transparent — but not about everything. [More]
credit card applications
L. works at a popular retailer of plus-sized women’s clothing, Avenue. Selling clothes is the job that she signed on for, and she doesn’t have a problem with that. It’s the credit cards and magazine add-ons her company wants employees to push on customers that make her uncomfortable. She vented in an e-mail to Consumerist about why this bothers her so much.
The next time you’re shopping at Best Buy, try not to get too angry when employees attempt to cram store credit cards down your throat. They’re not personally out to scam you, or hawking cards to line their pockets. They’re just trying not to get written up, reprimanded, or fired. A very insightful tipster who works at a Best Buy somewhere in the United States shared with us the impossible credit application quotas now in place. Update: The tipster reports that Best Buy management has backed down on this particular threat. Hurray!
James applied for a Best Buy Mastercard from HSBC. The initial application was easy enough, but the three separate confusing calls from outsourced customer service reps, and the low limit and annual fee on the card he eventually received led him to cancel his account. This should have been a straightforward transaction, but company representatives tried to bully James into keeping the credit card.