this isn't about the derivative blowup over at JPMChase or the continuing CF over in Greece. This is about something different.
As some of you may know, i'm not a small fry or a normal fry, but a steak fry sizewise. So for some of my clothes, i have to go to a shop called Casual Male XL. Good shop, actually some good clothes there as well as good clerks and in the stores I would recommend them. I had a charge account with them, small one, just in case i needed some clothes and such, like a pair of pants, boxer-briefs, etc so i could pay them off separately and quickly. Well, when Casual Male XL and HSBC retail services said that they weren't doing those accounts anymore as of I think Feb or March, and the store said they weren't going to accept the card anymore, I paid off what I owed and thought that once the account was paid off it would be closed and that was that, no muss, no fuss, so i get things on debit or credit (mainly debit) on my only other card in the future.
Au contraire, as I got a letter in the mail a couple of days ago saying that my account with them was not only still alive, but was sold over to Capital One. And I have to tell you, it's like "WTF, I thought this was closed once it was paid off". So i e-mailed Casual Male XL earlier today asking them what was going on, i thought the account was dead. They said the card is dead but that was it. So i decided to call the number on the card i should have cut-up a couple of months ago (since the Capital One number only leads you to a phone tree with no choice for an operator). And after asking what is going on, they said only that the account was open but basically I couldn't use it (sounded like a person from bangaldesh, india, or some other outsourced call center who didn't have a clue). So when i asked for his supervisor explaining what i got in the mail and wanting an explanation, he just asked if i wanted to close the account? Well, i said yea, since i couldn't use it anyway, why have it open? so in a week or so i should be getting a letter saying it's closed.
But the remaining questions i have yet to hear an answer to are, if the retailer wasn't going to accept the card anymore, and the only reason you got the card was because of the retailer, why weren't the accounts closed by default once everyone had a chance to pay off what they owe (like common and even financial sense would dictate)? and why was an account with a balance of 0.00 that couldn't be used allowed to be sold to begin with (isn't that misdemeanor or possibly felony fraud (depending on the account value) that since it was interstate could be considered a federal banking crime)?
And you wonder why people hate the baking industry sometimes.
As some of you may know, i'm not a small fry or a normal fry, but a steak fry sizewise. So for some of my clothes, i have to go to a shop called Casual Male XL. Good shop, actually some good clothes there as well as good clerks and in the stores I would recommend them. I had a charge account with them, small one, just in case i needed some clothes and such, like a pair of pants, boxer-briefs, etc so i could pay them off separately and quickly. Well, when Casual Male XL and HSBC retail services said that they weren't doing those accounts anymore as of I think Feb or March, and the store said they weren't going to accept the card anymore, I paid off what I owed and thought that once the account was paid off it would be closed and that was that, no muss, no fuss, so i get things on debit or credit (mainly debit) on my only other card in the future.
Au contraire, as I got a letter in the mail a couple of days ago saying that my account with them was not only still alive, but was sold over to Capital One. And I have to tell you, it's like "WTF, I thought this was closed once it was paid off". So i e-mailed Casual Male XL earlier today asking them what was going on, i thought the account was dead. They said the card is dead but that was it. So i decided to call the number on the card i should have cut-up a couple of months ago (since the Capital One number only leads you to a phone tree with no choice for an operator). And after asking what is going on, they said only that the account was open but basically I couldn't use it (sounded like a person from bangaldesh, india, or some other outsourced call center who didn't have a clue). So when i asked for his supervisor explaining what i got in the mail and wanting an explanation, he just asked if i wanted to close the account? Well, i said yea, since i couldn't use it anyway, why have it open? so in a week or so i should be getting a letter saying it's closed.
But the remaining questions i have yet to hear an answer to are, if the retailer wasn't going to accept the card anymore, and the only reason you got the card was because of the retailer, why weren't the accounts closed by default once everyone had a chance to pay off what they owe (like common and even financial sense would dictate)? and why was an account with a balance of 0.00 that couldn't be used allowed to be sold to begin with (isn't that misdemeanor or possibly felony fraud (depending on the account value) that since it was interstate could be considered a federal banking crime)?
And you wonder why people hate the baking industry sometimes.
say your piece
annoyed
content
worried
curious
pensive