That’s especially true for banks and credit card companies that I’m a customer of.

In today’s mail, I found not one, but two offers from a credit card company and a bank that I’m already a customer of.  These offers were not for additional services from the same institution, but for the very services that I already have with them.  Even more disturbing is that both of tonight’s offers were addressed to me using my formal name, the same name that I use with their institutions.

How difficult is it for them to do a simple database query that compares whatever list they use for unsolicited offers to their existing customer list?  If the names match, and the addresses match, don’t send it.  I’m sure it would save them money.  I wonder why they don’t do it?

Every now and then I get a “pre-approved credit card” offer in the mail and am always amused by the rate that comes with these cards.  In most cases it’s 10% for the first 6 months, then 25%, or worse.

Today I got one in the mail that I am still in shock over.  The APR is 9.9% but jumps to 19.9% if you miss two months, but drops back to 9.9% if you pay in full or make minimum payments for 3 consecutive months.  So far, that’s not bad.  But then I got to the fees section…holy carp!!!

Account set up fee: $29 (one time fee)
Program fee: $95 (one time fee)
Annual fee: $48
Participation fee: $72

That’s $124 just to get the card, and then $120 per year to keep the card.  They have got to be kidding.  Where’s my shredder?