Filed Under:Life Insurance, Life Practice Management

Complaints about credit card fees, rewards, billing rising

Complaints respecting rewards and fees increased in the second quarter by 45.02 percent and 23.08 percent, respectively.
Complaints respecting rewards and fees increased in the second quarter by 45.02 percent and 23.08 percent, respectively.

This 2014 CardHub report discloses some not-so-surprising findings. Among them: a rising number of consumer grievances about credit card rewards and fees.

Complaints respecting these two items increased during the second quarter of 2014 by 45.02 percent and 23.08 percent, respectively. The greatest number of consumer complaints was about credit card companies’ billing practices: These comprised 26.33 percent of all complaints.

Clearly, something is amiss. Either the card issuers need to do a better job of communicating their policies regarding rewards, fees and billing. Or they need to revise their practices to reduce the number of complaints.

Neither change, I suspect, will be forthcoming anytime soon.   


 


—Warren S. Hersch
CardHub's quarterly credit card landscape reports take the pulse of interest rates, rewards and fees across the credit card market.

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