Credit Debt Banking News | CDBN

I’m happy to see more controls on credit cards. But what Finance Minister Jim Flaherty unveiled last week were suggestions for better disclosure of credit card practices, instead of strict limits on those practices.

Take the idea that card issuers would calculate each month how long it would take you to pay off your balance if you made only minimum payments. The Canadian Bankers Association rughtly argued that this would be costly.

Why couldn’t credit card bills just come with a warning that paying the minimum amount is dangerous, giving an example or two? Who needs an individual calculation? Far better to make card issuers raise the monthly minimum (say to 5 per cent from 3 per cent now), so that your balance ..read more

That’s a question I hear a lot about Bloomex, an online florist with unfriendy policies and poor customer service. The company hired a PR person who worked with me on complaints. But now she’s missing in action, much like the flowers that Bloomex delivers.

Mother’s Day has come and gone, generating many complaints about floral tributes arriving late or mangled. So, I’m starting a new thread about Bloomex and www.1800Flowers.ca, also managed by them.

Here’s some advice to frustrated customers: Instead of pursuing the company for a refund, which will just frustrate you, call your credit card issuer. It’s easy to get a chargeback when you can show you paid for services that were not rendered.

If there are enough chargebacks, this company will find it hard to ..read more