MONTGOMERY WARD CREDIT CARD

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MONTGOMERY WARD

Many years ago I received an offer to purchase health insurance from Montgomery Ward. I was told that, once they had my approval, I wouldn't have to do anything. The non-interest bearing charge would be automatically added to my account each month and would appear on my monthly statement. I gave them my approval.

Because of the way credit card companies function, I suspected they were lying about not adding interest to the health insurance charges. After about three months, I decided to find out for certain. I paid off the balance of my account and waited for my next statement. On that statement, the monthly insurance charge made up the total of the balance due.

Since I did not have to worry about a late payment fee, I waited until I had received the following month's statement before paying Wards. On that statement were charges for the health insurance plus interest. I called Wards and informed them of their mistake. They agreed that interest should not have been charged, credited my account for the overcharge and assured me that the mistake would not be made again. I promptly sent them the entire amount that I owed and waited for my next statement. On that statement, the monthly insurance charge made up the total of the balance due.

Again, I waited until I had received the following month's statement before paying Wards. On that statement, a second time, were charges for the health insurance plus interest. I called Wards and informed them of their mistake. They agreed that interest should not have been charged, credited my account for the overcharge and assured me that the mistake would not be made again. I promptly sent them the entire amount that I owed and waited for my next statement. On that statement, the monthly insurance charge made up the total of the balance due.

A third time, I waited until I had received the following month's statement before paying Wards. On that statement, a third time, were charges for the health insurance plus interest. I called Wards and informed them of their mistake. They agreed that interest should not have been charged, credited my account for the overcharge and assured me that the mistake would not be made again. I promptly sent them the entire amount that I owed, canceled the insurance and have rarely used the card since.

The fact that Wards knew about that mistake and had failed to correct it after five months and three reminders is proof that it is part of their policy, written or unwritten, to unfairly charge their clients when the opportunity presents itself. How many credit card holders are able to determine if they are being charged the correct interest or not? Almost none. The credit card companies know this and take advantage of it to rip individuals off. If they have one million customers and overcharge each customer only 50 cents a month, that would amount to 6 million dollars a year of stolen money. Montgomery Wards steals like that and it is likely that other credit card companies do likewise.

TAKE NOTE: Credit card companies are driven by the profit motive. They make some honest mistakes, but many of their mistakes are brought on by their desire to milk the customer of every possible penny. Therefore, never take advantage of any credit card offer unless you get it in writing beforehand. Whether they are deliberately trying to cheat you or simply make an honest mistake does not matter: YOU GET RIPPED OFF EITHER WAY. Why? Because the law does not favor the individual in case of a dispute. The law will favor the business, in this case the credit card company, because white power functions that way.

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