Personal information about me they can pass along

After reading that Macy's was legally allowed to charge over 200% on a 30 day charge account, I looked a little closer at the teeny-tiny print on the itsy-bitsy pieces of paper that came with the bill.

First they told me my personal information was protected. That information included
Information I gave them on my application--name, address, phone, dob, ss, dln. Information about my transactions with Macy's their affiliates and nonaffliates--account balances, payment history and account activity Information about me from a consumer reporting agency, such as the credit bureau reports and other information relating to my credit worthiness Information about me from other souces, such as my employer, democraphic firms, and other third parties [isn't that a little vague?]
Then armed with all that which includes just about everything except my blood type and the name of the horse I owned in 7th grade, Macy's tells me that they can share that with all other affiliates about me--and that includes
the family of companies controlled by Citigroup Inc. the family of companies controlled by Macy's, Inc. affiliates in several different businesses, including banking, credit cards, consumer finance, insurance, securities and retail sales of goods and services Macy affiliates dba CitiFinancial, CitiMortgage, Smith Barney, Primerica, Macy's and Bloomingdale's
Nonaffiliated, "non-family" get to have my personal information too
financial services providers--banks, credit card companies, etc. non-financial companies, such as those in direct marketing and selling on consumer products and services and others, like non-profits (ACORN? Why not--they were able to bring down the banks.)

On a second tiny piece of paper there is an Opt Out Form (retain for your records). This replaces the wording on another piece of paper I don't have, or if I do, I don't know where it is. But upon reading it, I see it isn't the opt out form at all; no, no, it tells me the finance charge percentages, about which I just complained in the previous blog are going up to annual 22.9% instead of 21.6%, and if I miss a payment twice in any 6 mo. period it goes up to 24.9%; a $29 fee for returned check, and a late payment fee of $15 for balances under $50, $25 for balance of $50 and over, and so forth, until the late fee for over $1,000 is $35.

And get this. "You authorize us within each account type to apply your payments and credits in a way that is most favorable or convenient for us." Well, no wonder the print is so small and on itsy bitsy slips of paper. Then comes the "opt out option," which if I choose that, my account will be closed!