Friday, June 25, 2010

Lunatics are running the asylum

Link.

Gander Mountain Co. says in a federal lawsuit made public Thursday in Minneapolis that the bank that issues its "co-branded" cards is threatening to deny new applications from about 25 percent of the sporting goods chain's customers -- those with the highest credit scores. The St. Paul-based company wants a court order blocking the practice.

The bank, World Financial Network National Bank of Columbus, Ohio, said it loses money on such customers since they tend not to carry balances or incur late fees.