In an odd story out of the UK, it seems that Morgan Stanley customers will have to wait longer than usual to get their new credit cards because the company actually ran out of the plastic it needs to make the cards with!
The company will not reveal who the manufacturer is, but it is known that the problem is also affecting Goldfish card holders in the UK as well. Goldfish was acquired by Morgan Stanley in February.
As a result of the plastic shortage, those customers whose credit cards expired in August didn’t receive their new cards until just last week. Those whose cards expired this month are still waiting on their new cards. Despite the inconvenience this has caused cardholders, Morgan Stanley has already stated that it will not compensate its customers in any way for the delay.
Since new credit cards are typically sent out weeks before they actually expire, the replacement cards are actually over a month behind in delivery. When customers contacted the company after their cards had expired and no replacement card had been sent, they were initially given a bunch of excuses. For the most part, they were told their new cards would be sent “soon” with no explanation for the delay and without being given a solid date of when they could expect to get their new cards.
It seems the definition of “soon” for Morgan Stanley is far different from what most of us think, as these customers still had not received their new cards weeks after their initial calls to the company. It seems to me that the company should step up to the plate and compensate consumers for the delay, particularly those that can demonstrate that were burdened financially as a result of the card not working beyond its expiration date.
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