Tuesday, August 23, 2005

Banks and Credit Cards

Well, as you all know, I'm in the middle of detaching myself from the guy I married. We don't need to get into that. One of the things required is to detangle our finances. I've been trying to do this. Really I have. The lastest is trying to remove him from my credit card.

So I call the issuing bank and request that his card be cancelled and he be removed from the account. Well, they can cancel the card. But when it comes to removing his name and releasing him from the liability... nope. Not gonna happen until the balance is $0.00. Huh? But I'm the primary cardholder. This is MY card. I'm the one responsible for the debt. Nope, no can do, it's against their policy.

Now, wait a second here. My ex was able to remove ME from his card with one quick phone call. I'm released from responsibility, I can't use my card anymore, everyone is happy happy happy. So I explain this to the girl on the phone. Well, it's a different card company and she can't speak to their policies.

Ok, so I'm not happy at this point. And I think she's figuring this out. So she says she'll talk to another dept about it. I wait. And wait. This has given me time to think which is likely NOT in the CC company's best interest.

She returns to the phone and tells me that it's their policy. If there was another way it could be handled.... at which point I interrupt and tell her there is another way it can be handled. I'll get another card, transfer the balance and cancel their card. I'm not sure I'm proud of this, but, I then told her they'd lost a customer - yeah, like they care about my $2000 balance - and I hang up.

Their competition immediately gets a phone call and I've got a low-interest rate card on the way. Problem will be solved within 10 days. The best part - all of my banking can be done at one institution now. Mortgage, bank accounts, credit card.

The BEST part, my ex - who makes regular trips to the US for work - is also cancelling his card with the same bank if that is, indeed, the policy. What kind of ridiculous policy is it to allow one spouse to run up huge amounts of credit card debt and affect another's credit rating???? If I were my ex, I'd be calling the credit card company and complaining.

Let's think about this...if I'm an angry spouse and the primary cardholder and I want to get back at my ex for something, this company is facilitating that with their policies. I can hold a balance on that card forever and it will never come off his credit rating. I can run that card up and it will forever appear on his credit rating. I could financially ruin him with one little credit card. If you think about it, all that really should be required is a fax from him containing the documents from the lawyers. Signed, dated, indicating that he is NOT responsible for that debt. Yet they will do nothing.



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