Over the course of time, I tend to acquire more credit cards than I really need. So as one falls out of favor, it tends to end up in the back of the desk drawer.
Last week Discover sent a letter. It had been a long time since the card was used. They gave a special phone number to call and offered a short term promotional rate if only I would start using them again. Otherwise, they were very sorry, but they would close the account. And when you called them, a real person in Arizona talked to you.
The week before, CitiBank sent a letter informing me they had already closed my account. No phone number.
Today's quiz. Which company had to be bailed out by the taxpayers because of stupid decisions made by management? Who are still there.
Discover Card has sunk to a new low. Their 5% cash back BONUS that you have to sign up for. They will give you 5% for qualifying purchases, such as gas, restaurants, hotels etc. The group changes quarterly. The kicker is that you can only charge up to $300.00 for the 5%, that’s right you can get a whopping $15.00, which is only $12.00 more than you would have received at the 1% level. They give you the impression you can get up to $300.00 using the 5% BONUS program. What a scam!!!
Posted by: mike | 24 August 2009 at 03:22 PM