TommyA wrote:
Credit card company excuse make absolutely no sense. As far the the CCC is concerned it is a one time charge....does not matter what it was for.
Well once again, these forums prove to be an abundant wealth of MISINFORMATION! (Always by the same misinformed posters, we all know who they are!)
I contacted a friend that works in credit card fraud control. He confirmed what they said. Companies that offer any type of lifetime product or service pose an increased risk to credit card issuers, since if they were to go out of business, the issuers could be left holding the bag. He referred to it as the Contingent Liability Risk. Much higher discount fees are imposed on companies offering lifetime service, some as much as 3x the rate. So if CH decided to eliminate the service to reduce there fees, that's their choice! By the way, they were the only ones offering it, and they probably offered it as long as they could.
Well, if this is true (haven't seen it verified either) then I'm glad I am grandfathered in. They could do a buy out of me say for, $5000.