The main thing that I have learned about businesses has come from my experience working with a company that I will not name. I worked for them for over a year, and basically I realized that companies can do almost anything they want to do as long as they inform you and give you the opportunity to opt out of the changes. The company that I worked for increased the interest rates on all of there accounts.
They sent out notification to each and every customer saying that your interest rate will go from x.xx to x.xx on this day and you have until this day to opt out. That would have meant they would have closed their accounts and they would not have been able to use them but they would not have been subjected to the higher interest rates either. I would say a very large number of people called to our offices complaining but everything was done right by law because they informed them of the chances and each customer had the chance to say no. I haven’t worked with the company for a few months now but I did see on the news the other day that a lady was very upset because her interest rate went up 7 percent.
While this change may eventually affect the number of customers they have, they feel they still are a very competitive company and that most people will remain loyal to them. Personally, I feel they won’t lose too many customers over the change because overall, most people are happy with their service.
Subscribe to:
Post Comments (Atom)
2 comments:
I'm going to say that it must have been a credit card company! I always notice how they send you change of agreements in the mail saying you can opt out; however, I feel that you're screwed either way. If you opt out you can't use your account and if you don't opt out then you are subject to the higher interest rate.
Okay Jason pretty much typed out everything that was on my mind when I was reading your blog.
What is a customer to do?
Switching card companies would be such a hassle!
Post a Comment