banks and credit card companies stealing from cons
dishonest banking practices
unethical business practices
BANKS and CREDIT CARD companies literally STEALING from consumer's!
By flpoolbum
@flpoolbum (2978)
United States
April 7, 2013 2:34pm CST
Does anyone else think that it is ridiculous that Credit Card companies wait 7 or more days to apply your payment to your balance and available credit? Everyone else is able to credit your payment (utility companies and other service providers) to your account within 24 hours. Credit Card companies are making a fortune in two ways: Even though the claim the 7 or more days is for a check hold they get our money in their bank within 24 hours making interest plus they are charging us interest on our balances ever day from the day the charge is made. In this day of instant everything, Banks and Credit Card Companies should be required to apply your payment to your balance and available credit within 24-48 hours. (Oh, I forgot to mention that several Credit Card Companies will apply your payment to your balance within 24-48 hours, IF you PAY AN EXTRA FEE!!) I wrote to my U.S. Senator's and Congressman to suggest that they draft legislation to correct this unjustified greed and abuse! Contact your leaders in your Government to do the same thing! They certainly subject our purchases to interest charges within 24 hours! How is that fair?
Of course, I realize you won't get charged interest if you pay your entire balance every month, but sometimes I can't and many people aren't able to either.
3 responses
@MoonGypsy (4606)
• United States
8 Apr 13
that is certainly a reason why i hope they pass that legislation. it's a good thing that you wrote in. i hate when banks do that. they wait so long to take the money out of your account, making it hard to balance your checking account. they DO make a killing from people that.
@flpoolbum (2978)
• United States
8 Apr 13
Be sure to contact your Representatives in Congress to draft the legislation and mention this in all of your social websites and to your friends on Facebook, e-mail, ect. If enough of us take action then it is possible to get a law preventing this kind of abuse from credit card companies.
Thanks for your response, too.
@lampar (7584)
• United States
7 Apr 13
You are absolutely right on this, they are a bunch of very smart business crooks, that is a lot of $$$$$$ in this type of fraudulent practices by banks and Credit Card companies, they not just delay in crediting your account balance with your deposit/payment alone for seven days, there are literally hundred if not thousand such type of online transaction daily from their account holders, imagine the amount of interests they earn with your and many other depositors' money within that few days time delay to earn for themselves, it is an astronomical amount way beyond your wild imagination. If your account is over draft or you make a payment/withdrawal, then your account will get deducted almost immediately, but when it come to increases in your account with your payment deposit, then it needs at least seven days. It make perfect sense to the bankers and Credit Cards companies. 
@Lucky12 (767)
• United States
7 Apr 13
Yeah it is a shame that is why I am not dealing with credit card companies anymore unless I have to. I mean they are okay if you want to build some type of credit, but it is a shame how they just steal from everyone. You have to remember that they are in the business to make money and that is all. They do not care about anyone as long as they get their money.
