Tuesday, March 03, 2009

Credit Card Follow Up

Okay, so I freaked out previously when my credit card account disappeared. It returned. It was probably a computer glitch.

But I noticed a change - on my account they no longer list the "payment due by" date. This too, could be a glitch, but I suspect not. In fact, I read something about this a couple weeks ago. Credit card companies found that when they listed a "minimum payment due" their customers tended to pay LESS of their balance. It's some sort of odd psychological thing. If the card company listed the amount of extra interest customers are paying for every day they don't pay the balance, I'm sure more customers would pay. But CC companies aren't in the business of customers paying their balance. In fact, they're in the opposite business, trying to keep customers in debt.

Well, now they're trying a new tactic on me because they haven't been successful with their other tactics. Now, by not listing the payment due date, I think they are trying to trick me into forgetting to pay on time. Sure, I still have my paper statement, so I can figure it out, but I don't trust these CC people any more than I trust a loan shark.

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