Gob

Credit Card Crunch

[Whitney is quite right of course that it's a good idea for banks to know their customers and not to rely on centralized, computerized underwriting which relies far too heavily on FICO scores]

In the early 70's, my parents moved to a new town and applied for a mortgage to buy a home. They almost didn't get the loan because the people at the local bank "didn't know them."

We've sure come a long way. And not for the better.

On Saturday, I called Chase to ask them to remove a bogus late fee on my credit card. They refused. I literally laughed at the customer service rep and told her to go to lend to some deadbeat and cancelled my account of 12 years.

I'm exactly the kind of customer these people want - I live beneath my means, have low debt/income, and ahve excellent credit. It took me no more than 5 minutes to apply and get approval online with another issuer.

These idiots still haven't learned the lesson.
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