A Tale of Two Credit Card Companies:

[CanuckAmok]

Okay, so I've been in real financial trouble lately, primarily because during my divorce, I had to live on my Visa and my MasterCard.

So, being the relatively responsible person I am, I called each company, preemptively, well before I knew I wasn't going to be able to make a payment.

I figured that it's in our mutual best interest to keep the costs of collecting what I owe to a minimum, right?

Right. Or, at least partially right.

So, I owe about $10,000 on each card (don't ask!). I've had both Visanand MasterCard accounts for about 15 years. Never missed a payment before mid-2004. For the most part, I usually zeroed the balances by the end of each month.

I called Visa, and explained what was going on, with my job, with my losing all my assets, etc.

And Visa was, like, "hey, thanks for telling us! What do you think you can afford to pay each month, just to keep the account from being sent to collections?"

I made them an interim offer, scheduled the 13th of each month, and they have been great about it. This month, I can't make my minimum payment until November. So I called and told them, and they're, like, "okay, thanks for telling us! Just give us a call when you've made your payment, and we'll take it from there. Have a great weekend!!"

Then I called MasterCard.

First of all, I got Mushmouth from Fat Albert on the line.

When I eventually spoke with his supervisor, who had a fairly good handle of the English language for a complete dimwit, I explained the same situation to them.

"Oh. Well, there's really nothing we can do for you."

"But Visa said..."

(interrupts)

"Sir, I don't know what your arrangement is with Visa, but it's agains the law for us to not report your delinquent account to the creditors".

"The law? Which law is that?"

"The law of the creditors."

Okay.

"So, why is it that Visa can..."

(interrupts again)

"I can't do anything illegal on your behalf, sir."

"Can you please explain which statute this law falls under?"

"It's the law of the creditors."

"Okay, the creditors aren't the government. They don't make laws, they make giudelines. Policy. Not laws. So I'm not asking you to do anything illegal, I'm asking you for customer service."

"Be that as it may..."

(I interrupt for once)

"Okay, lady, have it your way. Send it to collections. The bottom line is that one way or the other, you're going to get the same amount from me each month, every month, until my balance is paid off. If you want to increse your own costs for recovering the money, you go right ahead. And, in the meantime, you can be sure that my business with MasterCard is finished the minute I'm paid up, you understand? I'll be keeping my Visa, because they understand the needs of their customers."



I'm amazed at the difference between these two companies. I will keep my Visa, because I often have to rent cars, hotel rooms, etc, and that's impossible without a CC, but MasterCard can suck a fat nut.

[hvn_nbr_2]

1. The difference is probably in the card issuer, not Visa or Mastercard.

Lots of different banks and other institutions issue both Visa and Mastercard. Your conversations and dealings were almost certainly with the card issuer, not the Visa or Mastercard organizations. But that doesn't change the fact that different ones act differently and some are @**holes.