Wednesday, June 23, 2004
Don't you just hate banks?
Recently my bank informed me they are about to do me a tremendous favour. I can now option a platinum or gold credit card instead of the plane jane variety I now hold. Nice of them eh? The catch is that the gilded variety cost biggish bucks every year and I'm quite happy with my basic plastic rather than platinum.
Up till now, I've been able to exchange every dollar spent on this credit card on a one for one basis for frequent flyer points. The credit card reward system is of no interest to me, except to swap for frequent flyer points. I do not lust after stainless steel kettles or expensive suit cases. No, the one for one deal on frequent flyers is what I am after. It means I get something of value back for the many thousands of dollars I spend each year and it means a free trip to visit my family - a 4.5 hour flight from where I live.
So imagine my surprise when the down-side of the great gilded card offer was revealed, bogged down in the body of the sales pitch for more expensive credit cards. From July, I can only redeem 1 frequent flyer point for every $2 spent unless I elect to purchase the platinum card for $250 per year. Hmm, the value to me of the available rewards has just halved.
Not to be completely taken-down, I noted in my diary to redeem all my current points for frequent flyers prior to the June 30 cut-off date, only to discover that the option for taking the frequent flyer points is now so well-hidden on the website that I couldn't find it despite 30 minutes of searching. But I had the bit between my teeth now, so I rang the rewards phone number. After the usual delay because all the operators were busy I was finally connected to a real person. Guess what, my rewards account has been frozen because the credit limit was temporarily exceeded. I've just paid it on line, I say and had confirmation that the money has been transferred from my account (mind you I haven't even received the monthly bill yet and had no notification from them that I was slightly over the credit limit). Oh that won't come through on our system for 24 hours says the poor, sweet call centre operator and you won't be able to do it on line until your next statement update, but if you ring back in 24 hours, even if it hasn't cleared our system, we'll be able to clear it for you!!!
They've closed all the country and most of the suburban branches and left the poor bloody elderly and disabled to bank whatever way they can (they don't understand telephone and internet banking for God's sake). They take every last snatch of interest from us and give nothing back and now they won't even let me claim my own rewards. Interesting how I can no longer access the money that has been transferred from my account to pay my credit card TODAY, yet their system doesn't recognise I've paid it till TOMORROW - how does that work?
Anyway, now I have to wait on the phone tomorrow for another 20 minutes at least to try to claim my points before they are halved! GRRRRRRRRRRRRR!!!
Once upon a time I stumbled upon a blog that seemed to contain pages of clever and vituperative comment about banks; it even asked people to comment their complaints against banks. I've just googled everything I can think of to find this blog again; without success. I wanted to share the link with you. If any clever blogger reading this knows how to find the blog that totally rants against banks and all their evil ways, it would be great if you could comment it to me so I can have another read.
Up till now, I've been able to exchange every dollar spent on this credit card on a one for one basis for frequent flyer points. The credit card reward system is of no interest to me, except to swap for frequent flyer points. I do not lust after stainless steel kettles or expensive suit cases. No, the one for one deal on frequent flyers is what I am after. It means I get something of value back for the many thousands of dollars I spend each year and it means a free trip to visit my family - a 4.5 hour flight from where I live.
So imagine my surprise when the down-side of the great gilded card offer was revealed, bogged down in the body of the sales pitch for more expensive credit cards. From July, I can only redeem 1 frequent flyer point for every $2 spent unless I elect to purchase the platinum card for $250 per year. Hmm, the value to me of the available rewards has just halved.
Not to be completely taken-down, I noted in my diary to redeem all my current points for frequent flyers prior to the June 30 cut-off date, only to discover that the option for taking the frequent flyer points is now so well-hidden on the website that I couldn't find it despite 30 minutes of searching. But I had the bit between my teeth now, so I rang the rewards phone number. After the usual delay because all the operators were busy I was finally connected to a real person. Guess what, my rewards account has been frozen because the credit limit was temporarily exceeded. I've just paid it on line, I say and had confirmation that the money has been transferred from my account (mind you I haven't even received the monthly bill yet and had no notification from them that I was slightly over the credit limit). Oh that won't come through on our system for 24 hours says the poor, sweet call centre operator and you won't be able to do it on line until your next statement update, but if you ring back in 24 hours, even if it hasn't cleared our system, we'll be able to clear it for you!!!
They've closed all the country and most of the suburban branches and left the poor bloody elderly and disabled to bank whatever way they can (they don't understand telephone and internet banking for God's sake). They take every last snatch of interest from us and give nothing back and now they won't even let me claim my own rewards. Interesting how I can no longer access the money that has been transferred from my account to pay my credit card TODAY, yet their system doesn't recognise I've paid it till TOMORROW - how does that work?
Anyway, now I have to wait on the phone tomorrow for another 20 minutes at least to try to claim my points before they are halved! GRRRRRRRRRRRRR!!!
Once upon a time I stumbled upon a blog that seemed to contain pages of clever and vituperative comment about banks; it even asked people to comment their complaints against banks. I've just googled everything I can think of to find this blog again; without success. I wanted to share the link with you. If any clever blogger reading this knows how to find the blog that totally rants against banks and all their evil ways, it would be great if you could comment it to me so I can have another read.
Comments:
I'm not aware of that blog, but I do agree that banks suck. I'm not surprised that there's a whole blog dedicated to that fact.
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