Big Changes to Capital One, Aeroplan & U.S. Bank

They'll send people to collections. There's a bit of fallout from Capital 1's acquisition of Discover. Aeroplan might be seeing another devaluation and there's a new competitor to the transfer partner Battleground. This and more in today's roundup. Big favor, give us a thumbs up to help with the algorithm. If you know someone that might benefit,

then share this with them. Starting with the first story, we have built mistakenly sending people to collections for phantom balances. So, there were overdue balances, but it just wasn't theirs. And people's credit score took a hit. call me crazy, but keeping track of balances for the right person feels like a pretty core skill given the type of

company they're running. The counterargument is that only 1,850 card holders were affected, but it still feels like 1,850 too many. For some people, it dropped their credit score by 50 to 60 points overnight. And again, they got those notices. So, part of that is a stress cost and the other part is time. Maybe I'm alone here, but if I got

a debt collector notice, I'm turning over every rock to figure out what's going on and whether I screwed up. There is a positive though, and that's compensation. They're offering 2500 points of each person that's being inconvenienced, and the max value there is about 50 bucks. Maybe unfair, but I feel like it should be 10 times as much,

maybe 500 in value. Built isn't a small company. They're worth almost 11 billion, 10.75, and they raised 250 million. Relatively speaking, given the nature of it, it's a pretty small number. on the top range at 2 cents per point. 50 times the number of people is $92.5,000. More likely though, it's going to be on