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

Thanks to this website, which received a record 256,000 hits last month, I’m getting more complaints and inquiries from readers than ever before.

Many people find me while doing a Google search for a specific subject. Here are the most popular searches in April, according to my website statistics:

– Wholesale energy scam (34) – Direct Energy (31) – QuickTax 2008 (31) – Bell vs Rogers (18) – Direct Energy scam (13) – Bell (13) – Aeroplan vs Air Miles (11) – CIBC exchange rate (10) – Rogers (10)

I love the emails that start this way: “I was looking for an ombudsman at Bell … or Rogers… and found your website.” That’s how many folks find their way here. Welcome, everyone. Too bad the telcos don’t believe in hiring an ombudsman.

My readers give me ..read more

Last fall, I went to Cancun for the first time and saw why this vacation area is so popular. The sun always shines, the beach goes on forever and most hotels offer unlimited food and drink as part of a package deal. And if you get tired of lying around, you can hop a bus and see fabulous Mayan ruins.

Now, of course, the H1N1 flu has made us all steer clear of Mexico and the federal government is warning us not to go there for “non-essential travel.”

But what if your trip is already booked and paid for? Do you have the right to a refund if you cancel?

U.S. airlines and tour operators are being lenient with travellers who want to change their plans, says ..read more