Carrots and Sticks for Credit Card Users
We previously mentioned American Express was paying some customers to go away. According to SmartMoney.com, while American Express and others are using carrots to get rid of customers others are using sticks. Apparently, Citibank is encouraging its debtors to make larger payments by giving a little bonus for certain customers who pay more than the minimum payment. And Chase seems to have taken a different approach, charging an extra fee for customers who maintain high balances.
If you have gotten a carrot or a stick from your credit card issuer, please share the details in the comments below for the benefit of our community.
See:
http://moneycafe.com/blog/2009/02/american-express-paying-customers-to-go-away/
http://finance.yahoo.com/banking-budgeting/article/106646/Card-Issuers:-How-Can-We-Make-You-Go-Away
Tags: Credit Cards, Deals
