For the discussion in this post, I’m not talking about the 99% of us in the low, medium, or medium//high income bracket. I’m talking about the 99% who just don’t get it. Have any of you run into this situation or something similar?

Back in the fall of 2010, Suntrust Bank offered 25,000 miles for opening a business checking account and provided an additional 25,000 miles for each additional $55 debit card tied to the account. Many of us earned 125,000 per account we opened with five debit cards. It was a true bonanza.

I suggested the account to several and they were really excited at the opportunity. One was actually a family member and I gave them the opening balance as well as the 125,000 miles as a Christmas present. Pretty nice Christmas present, I thought. All I asked was that after the points posted, they close the account and cancel the cards as there was a monthly maintenance fee. If the debit cards didn’t get cancelled, they would get hit with a $55 renewal fee at the one year mark.

Each and every month the bank statement would come to my home, and each and every month I would forward it on with a note to use up the money, withdraw it, and CLOSE the account. Remember, I’m just trying to help somebody out.

Today I received another monthly statement from the bank and the account is not yet closed. In fact, the account is now overdrawn and been open for over one year.. The annual fee for the debit cards times five has come due.

Another example is a friend who wanted to do mission work in India and had no means of paying for the required airline ticket. In steps Rick the Gullible, who offers to open the account (with my money and only my name on the signature card). When the miles post the friend get the miles (125K) and I withdraw my money less about $50 to keep the account open. It took this friend 10 months of my constantly reminding him to change the mailing address on the account to his address. I had removed all my financial interest in the deal. I didn’t need his statement coming to my house anymore and hadn’t for months.

This kind of stuff drives me crazy. When we do a deal, there are certain simple requirements to close out an account, meet a minimum spend, or close a credit card. We are not talking rocket surgery here. And when we go through the gymnastics to help somebody out, shouldn’t our expectations be that he or she will perform the minimal account closing that it takes to “close the position?”

These types of situations are not the norm for me. In this particular case I helped out seven new account holders and had “situations” with only two. It makes me wonder:

Do you get put in these spots?
Is it just my naivete’ that gets me in this trouble?

It almost feels like another form of beating our heads against the wall — trying to get others to believe in, and participate in, our very productive and extremely lucrative hobby.

Should  I head for codependency classes? Do some of you end up in the same situation — feeling as if you’ve been taken advantage of? Do you screen your newbies for better compliance with explicit written instructions? Or do you just accept it as part of the process?

Are we the 1%?  I’m really starting to wonder???