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Disillusioning
The credit union I use had gotten me to switch my car loan to them a couple of years ago because they gave me a much better rate that the original loan I had been forced to accept.
I was so happy with my lower rate that would mean I paid so much less for that loan, that I let myself be suckered into the insurance to cover it. And yeah, I kept meaning to cancel it but didn't quite ever manage to get it together to send something in writing (I do everything online there). But, I paid the car loan off last month and thought, at least the insurance ding each month is over now.
Except it wasn't. After the final loan payment last month, I realized they charged me another insurance fee. So I e-mailed them.
The response was prompt- that insurance was for my VISA card account, not the car loan. Because that insurance can be used for any kind of loan with them, don't you know.
I only agreed to insurance to cover the car loan, not my VISA account. So now I feel used and abused- just like the regular banks make me feel!
At least I will be very quick with the letter for THIS cancellation. And I will chalk this up to the category of "valuable reminder"- the credit union is not that much different from a bank.
I was so happy with my lower rate that would mean I paid so much less for that loan, that I let myself be suckered into the insurance to cover it. And yeah, I kept meaning to cancel it but didn't quite ever manage to get it together to send something in writing (I do everything online there). But, I paid the car loan off last month and thought, at least the insurance ding each month is over now.
Except it wasn't. After the final loan payment last month, I realized they charged me another insurance fee. So I e-mailed them.
The response was prompt- that insurance was for my VISA card account, not the car loan. Because that insurance can be used for any kind of loan with them, don't you know.
I only agreed to insurance to cover the car loan, not my VISA account. So now I feel used and abused- just like the regular banks make me feel!
At least I will be very quick with the letter for THIS cancellation. And I will chalk this up to the category of "valuable reminder"- the credit union is not that much different from a bank.