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Explain...?
digimind
thwack
I received this notice with my credit card statement. I don't think it applies to me (in the sense that I don't use cash advances) but I'm still baffled as to what it means for those whom it WOULD concern...

IMPORTANT NOTICE OF A CHANGE IN TERMS
Effective with your July 2002 billing period (the first billing period with a statement closing date on or after July 1, 2002), the cash advance fee will increase to 3% of the amount of the cash advance or $5, whichever is greater. This fee will not be assessed if your billing address when you opened your account was in Puerto Rico.

All other terms and conditions remain in full force and effect.

You may choose to decline this fee increase by using Option A unless Option B applies to your account.

Option A
To decline this fee increase, notify us in writing by returning the Reply Certificate below by June 20, 2002. You must include your full name, the date, the account number as shown on your monthly billing statement, and your signature in order for us to process your request. DO NOT send this information with your payment. If you notify us that you do not agree to accept this change but have a purchase, balance transfer or cash advance post to your account after June 30, 2002, this change will become effective within two billing periods.

Option B
If your billing address when you opened your account was in AL, CA, CO, DC, DE, FL, IA, IL, ME, MD, NJ, NY, SC, SD, TX or VT, the change to the cash advance fee will not be made if you stop making purchases and balance transfers (if applicable) and stop obtaining cash advances before June 30, 2002. If any of these transactions post to your account after June 30, 2002, this change will become effective within two billing periods.


Ok, to me this makes no sense. They're saying I can decline this fee change, but unless I "stop making purchases and balance transfers (if applicable) and stop obtaining cash advances", essentially, if I don't stop using my card entirely, then the fee change will take place within 2 billing periods. If declining the fee change equates to declining the use of my account, why not just close my account? Why do I need to send in this written "Reply Certificate" if closing my account has the same effect?

Even if I carried a balance and only keep the account open because I'm paying it off while not adding any more transactions, this wouldn't make sense. Why would I care about a change in a fee for a transaction I'm not making anymore? Whether I decline the fee change or not, it would have no effect on my account while I pay off the balance.

In addition, the two Options seem basically identical. Whether or not I'm from one of those states listed in Option B, this fee increase will take effect if I keep posting transactions after June 30, 2002. The only difference is that if I'm from one of those states, I don't need to send in the Reply Certificate because the declination is automatic. But whether it's automatic or not, the declination is voided if I continue to use my card.

This seems to be the most pointless notice I have ever seen. Is the post office in on this, perhaps? Somebody is being paid a hefty salary to send out notices saying, "this change will happen unless it doesn't." How useful!

Please, somebody, tell me if I'm missing something. Or is this notice truly as stupid and useless as it seems?

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It is truly as useless as it seems!

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