ALERT: Amendment to Minimum Finance Charge for credit cards

    Privacy policy statements for Visa, Mastercard, Bank of America
(BofA, BOA), MBNA, Wachovia, Fia Services and perhaps other Credit
Card companies arrived this week and include a policy amendment which
adds a minimum finance charge where no minimum existed before. They
require a letter of intention to reject this change.

 They state that ...
   "The letter must contain your full name, and full account number
and the statement "I reject the minimum finance charge amendment to my
policy" No matter which credit card you own all letters must be sent
to the following address: [Bank Name] P.O. Box 15718 Wilmington, Del.
19850"

  One must write before May 1 2007 to reject this amendment. You
cannot telephone, nor include this notice with any other
correspondence or payments.

  All of this is somewhat hard to find in the small print of an
otherwise generic looking privacy policy update.  Read yours carefully
and write this letter of intent to reject this change, if you want to
eliminate the new finance charge.




.

  DaveyJane wrote:

Does it mean you have pay a minimum amount if you carry any balance, or
you have pay even if you have no balance?

 On Mon, 09 Apr 2007 10:54:11 -0600, timeOday


Don't take the original poster word for it.  I am not.   This person
could be trying to get valid credit/debit card numbers.

For information.  A privacy policy cannot include changes of Terms in
your agreement in the U.S.    The Change of terms must be a separate
paper enclosed in your billing statement or mailed separately to your
address.  

If it is a change of terms on a separate peace of paper.   They are
just legally updating,  what they have already been doing anyway's.
There are doing this to comply with congress.


Greg Rozelle

 Greg Rozelle wrote:

Oops, I didn't read all the way to the end where the new extra fees can
be "opted out" by sending your info to some fixed address (regardless of
the company), lol.  Shame on me for not instantly realizing it was
phishing at the first sniff.

 
Thanks for writing.  I took your ideas of phishing and scam seriously
and called the bank in question and asked if they did indeed send out
this amendment.   And they did.  They even quoted to me the box
number, without my having to give it to them.   They verified to me
that this was up and up and that i had until may 1 to write.  Call
your card company and ask them about their recent amendments.