Dumb Chase Visa telemarketer
Tonight, a representative of Chase Visa called to ask me
if I wanted to sign up for some credit card insurance. The
major benefit being that my credit card balance would be
paid off if I was too ill to work. I asked the woman if she
knew what my balance was on that account. She knew that
I have no balance on my Chase card. She also knew that
the balance on my Chase account has been zero for several
months.
I told the woman that I intend to close that card so it makes
no sense for me to sign up for any insurance on it. The woman
on the phone responded by telling me that I would still be
protected in case of illness and inability to pay. I then slowly,
but calmly and politely explained that since I have a zero balance,
I see no reason to insure myself. She then laughed and said she
saw my point, at which time I said "good bye" and hung up.
Ugh! Why do they bother! Even if I did have a balance on my
Chase card, the last thing I would do is sign up for a credit
protection plan just so I can pay an even more outrageous rate
to borrow money. I have a $150,000 death and disability policy
which will handle such things and even maintain my health
insurance policy if I am unable to work, due to injury or illness.
Once again, you exhibit a profound misunderstanding of the
circumstances. The prohibition against telemarketing, as I understand
it, does not apply to a business entity with whom you have an existing
relationship. Since he is a cardholder with Chase, Chase is not
affected by the "No-Call" rule.
Also, it appears that banks are exempt in any case:
See http://www.ftc.gov/bcp/conline/pubs/buspubs/tsr/whoisnot.htm
Some businesses and individuals are not covered
Some types of businesses are not covered by the Rule even though they
may use interstate telephone calls to sell goods or services. The
following four types of entities are not subject to the FTC's
jurisdiction and therefore not covered by the Rule:
Banks, federal credit unions, and federal savings and loans;
Common carriers, such as long-distance telephone companies and
airlines;
Non-profit organizations - i.e., entities that are not organized to
carry on business for their own profit or that of their members; and
Companies engaged in the business of insurance, to the extent that
this business is regulated by state law.