Six years ago, sid kidd fell behind on his monthly payments on his washington mutual visa account. as a result, wamu increased his interest rate to the "penalty" rate of 31.99%.today, jpmorgan chase owns the account, and sid is still paying the 31.99% rate, even though he has not been late with a single payment since 2013. a week ago, sid called chase's toll-free customer number. he told the customer service agent that he didn't think it was fair that he was still being charged the penalty rate six years after the "offense," and asked the customer service agent to lower his interest rate. the agent informed sid that accounts are reviewed every six months, and sid's account must not have been eligible for an interest-rate reduction at the time of the most-recent review. "maybe next time," he told sid.
sid told the agent that the rate was "unconscionable," and he stated that he does not plan to charge any more purchases on his chase visa and probably will not continue doing business with chase once he has paid the balance in full. sid has not told anyone about the interaction or the interest rate. (he doesn't want to admit to anyone that he got into financial trouble several years ago.)hoffman and bateson would classify this complaining outcome as