GE’s $25 Fee Generally Egregious
I read in The Times (“GE to Tack On $25 Fee to Cardholders Who Pay Their Balances Promptly,” Sept. 11) that those of us who pay our bills on time are referred to in that industry as “deadbeats.”
Western Civilization may not have fallen, but the age of Newspeak has definitely arrived!
H.A. DRAKE
Santa Barbara
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GE analysts believe this fee will “weed out so-called convenience users,” doublespeak for people who pay their bills.
Just bought a new refrigerator. Glad it wasn’t a GE. I’d hate to contribute to the delinquency of a company that is against thrift and prudence.
MARY MEYER
Pasadena
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As loan sharks increasingly move from poolrooms to boardrooms, the head of GE Capital Services now brands those who pay their bills on time as “deadbeats” and “freeloaders” and will punish them with a charge. Apparently, only those heavily in debt to GE are good citizens.
What is next, hairy enforcers?
Perhaps it is time to ask our representatives in Congress: “Whatever happened to usury laws?”
ARTHUR and ALICE YUWILER
Woodland Hills
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For more than 30 years, the credit card industry has evidently regarded me as a “freeloader” or “deadbeat.” This is not for failure to pay them. On the contrary, I paid too promptly, thereby avoiding their interest payments. Yet despite my “bad” record of prompt repayment, I continue to get at least one letter a week stating that I am pre-approved for a credit card. I also get many telephone solicitations.
The credit card companies obviously want customers who will pay back but very slowly, so that their high interest charges accumulate. Unfortunately, through aggressive promotion of easy credit, the companies are attracting many customers who cannot afford to borrow. These people become burdened with large debts that may destroy the quality of their lives for many years.
The behavior of the credit card companies has been unprincipled and destructive. Their businesses need to be under close governmental supervision.
QUENTIN C. STODOLA
Redondo Beach
