I just received an email from one of my online banks telling me that my interest is changing but they go a long way out of their way to avoid saying that the interest rate is going up. Why don't they just say that they are going up?
Dear Mr Ching
Important information about your cahoot Credit Card
Following a review of the cahoot credit card, taking into account market rates and increase in the cost of lending, we have decided to make a change to the rates we charge and our minimum payment level.
Ahhh ... "increase in the cost of lending" ... the interest rates must be going up! Why don't you just say that they are going up?
This letter is to notify you of the change and what this change means for you.
Great! I figured it out already! Interest rates are going up! Why don't you just say that they are going up? I am a grown up.
We will be changing the interest rate on your cahoot credit card on 20th November 2007.
"Changing" - Why don't you just say that they are going up?
For you this means your cahoot credit card interest rate for purchases, cash advances and balance transfers for account number ending in 1801 will change to 14.8% variable per annum (15.9% APR variable).
...
Arrrrrgggggghhhhhhhh ... you can tell me the knew rate, but why don't you just say that they are going up?
Do you think if you don't type it and I don't read it then it will?
This email annoyed me enough that I have now spent 10 minutes typing this. I may as well tell you that it came from www.cahoot.com. I've been happy banking with for the last 5 years but now I am annoyed. I just wish that their marketing department didn't treat me like I was thick.
