Do you know what kind of world your credit card supports?
I get that credit unions are not an option for everyone, but if they are for you--way past time to go for it.
http://www.greenamerica.org/take-charge-of-your-card/banking-scorecards.cfm
Credit cards from megabanks – Citi, Bank of America, Chase, Wells Fargo – support predatory lending, coal mining, tar sands, and outrageous CEO salaries.
That's why Green America is asking you to move to a credit card that supports people and the planet, and gives you the convenience and benefits you need!
Green America compared the volume of credit card related complaints filed by consumers with the Consumer Financial Protection Bureau (CFPB) and the settlements reached by the CFPB with banks.
The result? Megabanks generate thousands of complaints per year for their credit card practices, and several have settled with the CFPB for millions of dollars as compared to community development banks, which generated zero (0) complaints and no settlements.
Does your bank support fraud?
http://www.greenamerica.org/PDF/2014BankFinesAndPenalties.pdf
Does your bank support big coal?
http://www.greenamerica.org/PDF/2014BigCoal.pdf
How much does your bank spend on politics?
http://www.greenamerica.org/PDF/2014bank-scorecard-money-spent-on-politics-lobbying.pdf
Does your bank treat customers poorly?
http://www.greenamerica.org/PDF/bank-scorecard-consumer-complaints.pdf
Take Action Today!
Dump your mega-bank credit card and get a credit card with a responsible bank or credit union!
If you have a complaint regarding your credit card issuer, report it to the Consumer Financial Protection Bureau (CFPB).
Notes on Banks Credit Card Practices, Consumer Complaints and Settlements
The CFPB reports that the top consumer complaints regarding credit cards involve (in descending order of frequency): billing disputes (17%), other (13%), identity theft/fraud/embezzlement (11%), closing/cancelling account (6%), APR or interest rate (6%), advertising mar- keting (5%), customer service (4%), delinquent account (4%), late fee (4%), transaction issue (4%) (source: CFPB: Consumer Response An- nual Report, January 1-December 31, 2014).
CFPB settlements with megabanks are most often in relation to the banks’ promotion of add-on products and services to consumers without accurately disclosing information about the product or service or failing to actually deliver the product or service.
The data for the scorecard came from the following sources: Complaint data regarding credit cards as made available on the CFPB website (from the databases’ inception (12/1/11) to 7/1/15); settlements reported by the CFPB on its website. The rankings were then weighted to take account of the relative size of credit card activity for each bank based on purchase volume and cards in circulation (data pulled from cardhub.com and creditcards.com).