Here’s another nice customer service story about banks (not).

I had a credit card with CIBC for 16 years, during which I had a good credit rating (3 late payments in that time).

I stopped using the card in 2005, because I got other cards with better point systems.

The card expired in fall 2006.  A new one was sent to my mother’s address then (I had been living overseas until 2006 and was using her address).

I never re-activated the card sent to my mother’s house in Sept 2006.   

However, CIBC put on a 30$ annual fee on a card that had not been used for close to 2 years, and had not been activated.

Therefore, I got a bill with the annual fee that was 3 months overdue at Xmas at my mother’s house.  

Despite explaining this story to CIBC, and escalating it to more than one manager, they refused to revert the fee.  Plus, they made it affect my credit rating which they refuse to do anything about.

After talking to at least 4 people, I was told (pretty much in these words), “Sure,  no problem, we can write off the $30 if you’re willing to have an R9 credit rating” (the worst that you can have).

And just to add insult to injury, I’ve also paid off a large student loan with them.  

I find it pretty astounding they can’t give me a break over a 30$ annual fee on an un-activated credit card not used for almost 2 years after 16 years of good credit with them, and paying off a large student loan with them.   

I feel like I’ve been forced to donate money to an inhumane and unreasonable organisation with no principles of treating people fairly.

One caveat is that I found the front line people on the phone very reasonable, helpful and understanding.    They seemed to think the charge would get taken off.   It was the people that actually had the power to remove the fee that were unreasonable.

And a question:  Why should banks have so much power over people’s credit ratings? Why is it assumed they have been the reasonable one and the customer is the one who has been unreasonable?