December 1, 2009

The Terms They are a’changing

Filed under: debt,money — by elysianconfusion @ 3:59 pm
Tags: , , , ,

I have so much paper in my house, and review the card balances so carefully that I determined that paper billing wasn’t necessary. So I get an ebill, which is fine. I’m totally capable of paying those on time. But then I also get these notes from American Express:

Your billing statement includes important notices about your American Express® Card account and Membership Rewards® account.”

And instead of just saying IN the email what the changes are (and in English), I have to log in to my account, find the billing statement, download and open it as a PDF. And then search through many pages to find what they’re talking about. Then I have to decide how much of it is necessary to read and ponder the language. It says

“See Page 7 For A Notice Of Changes To Your Agreement
See Page 11 for important Privacy Notice and the following page for important Electronic Fund Transfer Error Resolution Notice”

Um. Page SEVEN? Page ELEVEN?  And actually, the EFT Error notice is on page TWELVE. I think the summary is:

1) If you pay more than the minimum, we apply the remainder to the balance with the highest interest rate. (I’m sure this is killing them.)

2) They no longer charge a fee for spending over the credit limit and over limit spending will not result in a penalty interest rate.

3) If you pay late or your payment is returned (bounces), a penalty interest rate will apply.

All I can say is… I’m paying this one off this month. Then (hopefully) I no longer have to think about the 5 pages they have explaining all this stuff.


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