Fact-Checking Nick

In my comment section last week, reader PJZ did some fact-checking on a Nick Coleman column I fisked.

I'll quote the comment, adding notes for who's saying what.

COLEMAN: “I have had a Dayton's/Marshall Field's credit card for 30 years. There were times I owed more than I made in a month. And times I was a month or two late with my payments. But "Dayton's" always waited patiently for me. Until last month.”

PJZ: When was this? I used to work in the Target Corporation’s (formerly the Dayton-Hudson Corporation when I was there) collection department and I remember calling people when they were less than 30 days past due. We didn’t assess late fees at that point (although they had to pay interest for carrying a balance) and we were generally polite about it (DHOC does soft collections until you’re really past due) but I never remember intentionally letting someone go by for a month or two without at least giving them a phone call.

Some people understandably may have been upset about this. However when you consider that (a) many people move and forget to update their address (not all mail gets returned to sender or forwarded on to the new address) and (b) the system automatically reports late payments beyond a certain time (IIRC it was 60 days) to the credit bureau, we probably saved quite a few people a lot more hassle by helping them keep their credit clean than having to (shudder) answer a phone call.

COLEMAN: “Last month, I was late with a $32 payment, in part because my wife was unsuccessful in returning a jacket I had purchased. It still had the tags attached, but she would have had to undergo DNA testing to be allowed to return it for me. She gave up.”

PJZ: Um no, so long as her name was on the card as a co-borrower and she had the receipt, she should had been able to return it at the guest services center. Of course even if she had returned the item, unless the only thing on the card was the jacket, s/he would still be required to make at least the minimum payment on the card for carrying a balance.

Wow. Sounds like a big cheese, he does.

Posted by Mitch at June 14, 2004 05:55 AM