OT: Canadian credit cards Sundry Credit...
Just got my CIBC credit card statement and some $1.6 credit appears........ It's good that now banks learnt not to hide foreign transaction conversion fees.
See what's on my statement. I wonder who else got it and how much.
THE SUNDRY CREDIT/CREDIT DIVERS APPEARING ON THIS STATEMENT
REPRESENTS A CLASS ACTION SETTLEMENT APPROVED BY THE ONTARIO
SUPERIOR COURT OF JUSTICE ON OCTOBER 7, 2004.¦
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THE CLAIM RELATED TO ALLEGED HISTORICAL INADEQUACIES IN THE
DISCLOSURE OF A MARK UP IN THE CONVERSION RATES USED FOR FOREIGN
CURRENCY TRANSACTIONS. SINCE 1994, CIBC HAS BEEN PROVIDING
ENHANCED DISCLOSURE OF THE MARK UP.
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CREDIT AMOUNTS WERE APPROVED BY THE COURT AND DEPEND UPON THE
TYPE OF CIBC VISA CARD YOU HELD IN JUNE 2004 AND HOW LONG YOU
HAVE HAD ANY TYPE OF CIBC VISA CARD.¦
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THE CREDIT WILL NOT AFFECT ANY APPLICABLE LOYALTY PROGRAMS AND
REDUCES THE OUTSTANDING BALANCE ON YOUR ACCOUNT. FOR FURTHER
DETAILS, PLEASE CALL 1-800-xxxxxxx.