Saturday July 4, 2009, 11:30 am
In the UK the financial regulator would not allow this to happen. In fact, where there have been rip offs later on compensation is made. Surely the US has a regulator or perhaps claiming that inadequate notice was given could force a refund.

Saturday July 4, 2009, 11:42 am
This is so unfair!!! Couldn't the customers demand about it?

Saturday July 4, 2009, 12:01 pm
Gillian,

Unfortunately, the US Consumer does not have the protections that you do in the UK!

Our options are very limited and include writing a complaint letter directly to the company; writing a complaint letter to the Better Business Bureau; writing a complaint letter to the State Attorney General; writing a complaint letter to the Federal Trade Commission... or attempting to file a lawsuit which is prevented by the credit card agreements that have arbitration clauses with the company of their choice!

With regards to writing a complaint letter: The consumer will find that for the most part nothing will happen. The Better Business Bureau has no authority and they make their income from the membership fees they charge to the company... This creates a huge conflict of interest and the consumer is the loser. For more information on the Better Business Bureau scam you can read about it on the Rip-off Report which has recorded thousands of complaints:

Rip-Off Report

The State Attorney Generals job is to represent the State... it is not to protect their citizens. They do offer mediation services and rarely file charges against companies.

The Federal Trade Commission will record your complaint and if politicians raise concerns... then the FTC might file charges!

Saturday July 4, 2009, 12:19 pm
Alejandra,

It is even worse for the customer than what I am reporting!

Many customers get use to the due date and don't even look at that part of the bill... they look at what they owe. For example, my wife and I have had a Discover Card since 1989 and the due date has always been on the 10th of each month. But that changed for this month and it is now due on the 6th!

This means that people who don't catch that simple change will get a big surprise when the pay their bill on the 7th, 8th, 9th or 10th and they will be assessed a late fee!

Because of the 'New' electronic transfer... a bank can manipulate your checks so that your account will have insufficient funds... and at $30 dollars or more per bounced check that can add up. For the consumer who lives from paycheck to paycheck, this can be disastrous!

Because of the "New" Electronic Transfer 10% insufficient funds penalty fee... that can add up to huge amount. In my case, it would have been a $270 dollar penalty... now add in the bounced checks penalty for each check written for the past week... now add in the Discover Late fee!

I think Care2 members need to know about this!

Saturday July 4, 2009, 12:34 pm
Open Comment:

A lot of people get paid on Fridays... July 10th is a Friday!

If you have a Discover Card, you need to look at this months bill and check the due date because it has been changed. If you are thinking that you will get paid this coming Friday, then go to a Sears to make a payment...

You are going to be Ripped-Off!

Saturday July 4, 2009, 1:08 pm


The report is as follows:

I am not sure how best to go about raising the alarm about an insidious form of ‘Rip-Off’ by a major US Retailer… so I will post it on this thread and perhaps the word will get out to other Care2 members!

The major US Retailer is ‘The Sears Holding Corporation’ which owns Sears and Kmart!

http://en.wikipedia.org/wiki/Sears_Holdings_Corporation

Last year, people who held a Sears Charge card were surprised to find out that the payment due dates had been changed to an earlier date. As a result, many people were charged late fees simply because they were not given adequate notice!

This month, the Discover Card has done the same thing and changed the Due date from the 10th to the 6th. For my wife and I, it is not a big deal, but for those who are struggling to make ends meet… this will be a big deal!

If, like last year, those people did not take the time to notice the ‘Due Date Change’ on the Discover Card, then they will be late on their payment and will be charged “Late Fees!”

Yes, I know that the Sears Card and Discover Card are owned by separate companies… but ‘The Sears Holding Corporation’ does have agreements with both companies that allow customers to make payments at any Sears or Kmart store… and ‘The Sears Holding Corporation’ gets paid for this service. They also get paid every time they talk a customer into getting a Sears Card or Discover Card… they also get a kick back every time a customer uses those cards!

Next problem that is going to hurt the person who is struggling to make ends meet…

Today, I went down to Sears to pay off the credit card bill, just as I do every month. This time it was different and it will hurt people who are living from paycheck to paycheck!

When I went to the Sears store, they are now forcing the customer to make an immediate electronic transfer of funds from the customer’s checking account…

In addition to that, they are forcing the customer to sign an agreement to the effect that if the funds are not in the account… the customer will be charged a 10% penalty fee of the payment!

This is not a big deal to me… we have the funds for the $2700 dollar bill and I paid off the credit card in full as I do every month!

But, what ‘The Sears Holding Corporation’ forced me to sign really means that if my payment bounced… my penalty fee would have been over $270 dollars and this does not count what my Bank’s penalty fees would be!

Do you really want to do business with ‘The Sears Holding Corporation’ and their partners?

The bad part about this... it doesn't matter where you live, it is going on all over and the customer has no choice in the matter!

Saturday July 4, 2009, 1:18 pm
Thank you for the post. I know my due dates have changed many times. So it's
always an alert for me to watch them. And like you noted, it will be a huge ripoff if not addressed. I think you can call your CC companies and have your due dates changed to when ever. I too, pay off balances every month, but I know not all people can afford to do this. It's a CC world that we live in with all the inflation, wants and needs.
Good post SW. :-)))))

Saturday July 4, 2009, 1:30 pm
Open Comment:

Tom has posted a story that basicly states that the credit card companies are making changes to customers bills. The link to his story is:

Credit Card Issuers Getting In Their Licks Ahead Of Reform

What the reader may not realize is the fact that what Discover is doing will affect peoples credit scores...

My Credit Score is about 830 and my wife's is a bit higher and if you know anything about credit scores, you would know that anything over 800 is great. If we had not caught the change of due date made by Discover and made a late payment, our credit score would have gone down. We would have had a very large penalty fee. The interest rates on other credit cards would have been raised. We would be charged higher insurance rates. We would be charged higher interest rates for car loans...

What the Discover Card people have done is going to hurt a lot of people. They won't know it until they try to make a payment between July 7th and July 10th and that is when they will find out that they are late and their credit reports will reflect that fact!

Saturday July 4, 2009, 1:35 pm
Mandi,

Thank you for the post... we both know that this will hurt a lot of care2 members that have a Discover Credit Card.

What really bothers me is that nothing can be done about this!

The Sears Holding Corporation is going to get a cut on the penalty fee. They are going to be making a lot of money on the misfortunes of their customer!

Saturday July 4, 2009, 1:52 pm
Does your Credit Score affect your insurance?

Credit Score and Insurance

Saturday July 4, 2009, 1:55 pm
Does your Credit Score affect your chance of getting a job?

Your Credit Score and Jobs

Saturday July 4, 2009, 2:44 pm
Does where you shop affect your Credit Score?

Your Shopping Habits Affect Your Credit Score

Saturday July 4, 2009, 2:48 pm
Does where you live, shop and who your mortgage company is affect your credit score?

AmEx rates credit risk by where you live, shop

Saturday July 4, 2009, 3:00 pm
How do you get your free credit report once a year?

Free Credit Report

You do not have to provide a credit card number!

I would suggest that you request that it be mailed to you!

You can request this once a year with all three Credit Bureaus!

You can request all three at the same time or spread it out over the year for example Experian in July then TransUnion a few months later and followed by Equifax... it is up to you on how to do it!

It should be mentioned that I do keep track and nailed a major Credit Card company for $10,000 dollars for a serious violation of the laws!

Saturday July 4, 2009, 6:04 pm
The following is my reflection on what I can remember from my personal history without research on the Internet. The Retail Gasoline companies were the first to issue credit cards. Then along come some of the bigger retail outlets and did the same, with some exceptions. Sears and Wards had a time payment plan for a long time before the issue of cards.

When Bill Clinton was in office he leveled the playing field when he made a way for the Banks to enter into the credit card business. At that time there were many other lenders who made signature loans and others to folks who were not Bank Customers. Some of the names GFC---HFC---and a host of others in most states their were USURY laws that controlled the maximum that could be charged by the Banks and the other lenders.

In my hometown we had a Credit Bureau that kept track of all the folks credit ratings in that close nit geographic region.

Every President since IKE has been in the evil fellowship of tyrants called Bilderbergs. Big surprise for me to find that out, how about you?

Now look what we have today? Some different. That was the plan and it was to put us in bondage to the Banks that the Bilderbergs owned and operated.

The first meetings for the Bilderbergs was in 1956. Some of us were born then some were just dreams not yet to come true. http://www.scribd.com/doc/15335720/Bilderbergs-History-Report-1956

The cold hard to swallow facts are these:

1. The power bosses [Bilderbergs] have had our nation under attack since 1956.
2. Their methodical planning has left simply nothing up for chance.
3. All our Presidents have been put in that office because David Rockefeller deemed it so.
4. We the People were lied too by all up until the Internet come of age; now the real news is for our asking.
5. That means that 53 years of history must be recovered in detail for us having an even chance to produce change once we Take back and rule our Federal Government.

MY TAKE on the solution:

1. We the People Advocates must lease or buy computers and possible need to get special soft ware that will search the databases that we have and put all affairs of the state by specific matters or names in chronological order that we can then can search each bill passed along the way to see if it was valid or flawed. If it was flawed then the change can come quickly if not then laws must be drafted to annul the laws that have been a determent to us having a civil and sane society.

MY TAKE the public needs to know:

1. In We the People Advocates each member will have a voice and vote on each issue that we take before the Congress Senate or Administration.
2. The same databases can be used to assemble the facts quickly and produce an easy to read document for us to read think through then voice and go to a forum or vote as is.

SOLUTION to this major dilemma that we face today in America is ---Who has enough of the knowledge and people to make the changes we need in record time? We must take on that task.
We the People Advocates will have from 3 to 5 million people contributing their time and little bits of money to from this coalition to take back our Rich and Abundant America. I am sure that AARP and many other groups that size will come on board and soon.

Dwight Baker
Dbaker007@stx.rr.com

Saturday July 4, 2009, 6:15 pm
Dwight,

Thank you for your post and comment!

The link you provide: . http://www.scribd.com/doc/15335720/Bilderbergs-History-Report-1956

Is easy to activate: 1956 Bilderbergs History Report

Again, thank you for taking the time to post your comments!

Take care,

The Sentinel’s Watch
(Were all in it together!)

Sunday July 5, 2009, 2:32 pm
These are related credit card reform bills in the Senate and House.
S. 392, S. 235, S. 414 and HR 627

Didn't read them thoroughly though for that specific rip-off.

S. 414 passed the Senate on 05/19/09. Link for the bill:

Sunday July 5, 2009, 2:34 pm
link not working for me:(

http://thomas.loc.gov/cgi-bin/bdquery/z?d111:s414:

Sunday July 5, 2009, 2:37 pm
S.414

Sunday July 5, 2009, 3:25 pm
WOW. Interesting, Maybe I need to watch the news more. Noted, Thanks for sharing. I will be on top of my game NOW.

Sunday July 5, 2009, 4:10 pm
The big questions and mysteries today are “Not about Them but about Us”.

Have we been dumb down?

Do we know more about football than about history?

Do we slave at a job then think we deserve a Miller Break?

Do we listen to a Politician tell lies and get tears in our eyes for he has said what we wanted to hear?

If not sane and do not want to learn more to help us save our posterity, then just delete.

If not sit back grab a pen and paper and take a few note’s along, to check the facts out for Yourself.

Esoteric Agenda. Excellent explanations lots of history, is it real or not you be the judge?
http://blip.tv/play/gdNHyf0njvIo


More for the Brave in mind body and spirit.
http://www.youtube.com/watch?v=yP2JpY-J8MA&e

http://www.youtube.com/watch?v=F-QA2rkpBSY&feature=channel

http://www.youtube.com/watch?v=GI7i2Pv-M7s&feature=related

http://wethepeoplecongress.ning.com/profile/RichardREDESIGNS

dbaker007@stx.rr.com

Sunday July 5, 2009, 4:19 pm
Dwight,

Thanks for the links... I will make them active to help people:

http://www.youtube.com/watch?v=yP2JpY-J8MA&e

http://www.youtube.com/watch?v=F-QA2rkpBSY&feature=channel

http://www.youtube.com/watch?v=GI7i2Pv-M7s&feature=related

http://wethepeoplecongress.ning.com/profile/RichardREDESIGNS

Sunday July 5, 2009, 5:07 pm
Disgraceful!Usually, we are CASH customers at Sears/KMart. Guess what? NO MORE! They need to know they are not the only game in town. Let me now urge others to use barter system, flea markets, garage sales and give those stupid credit cards a long rest!

Sunday July 5, 2009, 5:27 pm
Marsha,

When I went into the Sears Hardware store to pay the bill... I was shocked at their new system of ripping off the customer!

First, I understand that it is my responsibility to have sufficient funds to cover my check... that is the law. But, if a company is going to charge a fee for bounced checks, it should be fair and reasonable, in the area of covering their time and expenses... that is fair!

But, there is no difference between the cost of bouncing a $50 dollar check or a $3000 dollar check... it costs Sears and their Banks the same!

This is price gouging by the company that handles the Electronic funds transfer for Sears... and Sears would get a cut of that penalty!

If Sears Holding Corporation is going to be pushing the 'Sears Card' and the 'Discover Card' on their customers and makes money doing so... then they need to protect their customers from "Predatory" companies... It is very obvious that they are not doing this!

I just hope that the Care2 community spreads the word about this scam!

Sunday July 5, 2009, 5:37 pm
Here is a great story about how cheap products are hurting are country... Wal-Mart is not the only company that is causing this problem. If you were to go into a Sears, Sears Hardware, Kmart, or Super Kmart... all you would find is poor quality cheap products!

The link to that story is as follows: Cheap Products Hurts Our Country!

Sunday July 5, 2009, 8:28 pm
THANKS SENTINELS!

Monday July 6, 2009, 2:00 pm
FYI:

We just received our Chase Credit Card Bill today... it is due on the 17th of this month. The Credit Card companies are mailing out the bills so that the customer doesn't even have two weeks before it is due!

I would urge everyone to check their credit card bills and be alert for this form of fraud!

(The Sears Credit Card's are real bad about this!)

Take care,

The Sentinel’s Watch
(Were all in it together!)

Wednesday July 8, 2009, 3:15 pm
I guess news are not doing a big deal of this, though this is something we should all be aware of, this is going out of control. Thank god I've not been affected at least not directly.

Check this:
fx trading

Wednesday August 19, 2009, 7:57 pm
I've always felt that banks and issuers of credit cards are incredibly unfair. They ruined me financially years ago, and my credit has been in the toilet ever since. I have resolved to never again take any more credit cards. The only one I have now is the debit card to my checking account. One thing I hate about issuers of credit cards they use every trick imaginable to get people to take their cards. They goad people and play upon their weaknesses. If you don't take the initiative to ask for credit card a lot of banks have telemarketers call to persuade you on the phone to accept one. Once you take one of their cards they have their hooks in you. It might be okay for awhile, but all that needs to happen to get in over your head is......lose your job.....and be late with a payment one time and up goes your interest rate and you can kiss financial security goodbye. I am on the "do not call" registry now so they can't harass me anymore, and I don't buy anything anymore unless I can pay cash for it. That means I can't buy any big ticket items like homes and cars, but it makes life less stressful.