AFSCME 3357-HOF'S BLOG

Cheers & Jeers for Disney - ABC on the Mandatory Consumer Arbitration Issue:
Three cheers for ABC News World News tonight for doing a series on the evils of consumer arbitration.


ABC News: Fine Print May Waive Legal Rights

Three Jeers for ABC Parent Disney, for entering an affinity card arrangement with Bank One with a mandatory arbitration clause.



The arbitration clause isn't the only bad feature of the Disney Platinum Rewards Visa, it also has one of the insecurity clauses which raises your rate not just for being late on their card, but for being late on anything. See the consumer complaint linked below where the consumer complained of a change from 0% to 26.99%. Since 25% of all credit reports incorrectly list negative items, you basically have a 25% chance of getting nailed with a high interest rate even if you haven't been late on any payments.

I wonder if the next new ride at Walt Disney World will be the "Credit Card Hell" ride.