Posted on 04/06/2009 10:38:40 AM PDT by TenthAmendmentChampion
Care to share your stories? I'll post mine too.
First Bank offered a number of spiffs to their “good” customers in exchange for several sequential months of prompt payments. The spiff I chose was a percent off the interest rate. They never reduced the interest, ever.
BankOne used to debit your checking account before crediting deposits, even if the deposit took place before the check hit. My husband caught them doing it and they punished him by reporting him to the bad check agency, which is much worse than a hit on your credit report. You can be locked out of new checking accounts for up to seven years!
We finally went to our local credit union and had no further problems.
We’re in the danger zone here people. Credit cards are a good thing and don’t forget it. Where else can you spend thousands of dollars and only pay back $45 a month? No one else.
The people who want to punish credit cards want more and more people dependant on govt programs and everyone knows this.
That’s what I did when Chase pulled the “changed due date” on my account. I paid that sucker off that same month and cancelled the card. I still get begging letters from them offering me all kinds of benefits if I will re-up. Screw them.
Go to your local credit union of USAA and get a new visa or mastercard. The credit unions are much more responsive to customers and you get the same access.
Better still..tighten your belt and use only debit cards or cash. Ask for cash discount from merchants(against their agreements, but today they will do it).
First USA depositing payments but not crediting the account until 4-5 business days later to be sure that it is past the due date.
This is the only CC I have but the remarks made to me were outragous to say the least. Im done.
I’m headed to the credit union later this week and will transfer all my money from them.
Good post - now, the “begats”:
Providian became Wamu, which is now Chase. Chase is famous for ratejacking. Capital One will ultimately sue everyone who goes to collection. Beware the default judgment.
PS. Sears and Key are serviced by Citibank
This is one of the LEGITIMATE functions of a government: To keep predatory businesses from abusing citizens and violating contracts!
In other words, to keep the playing field as level as possible.
Imagine that—the credit card companies doing something dishonest???? I’m shocked, shocked I tell you! (do I really need a sarcasm tag here?)
This kind of crap doesn’t happen when you use cash :P
Bank of America and First Bank were also good at putting the date due on their statements consistently on a Sunday. Before Internet payments you’d be late unless you paid by phone ($10 fee) or mailed the check on Tuesday.
A class action lawsuit is probably the most proper way to handle such a thing, though it could take years or at least many many months to settle out.
Once, I took a cash advance from Fleet Bank at 9.5% and when it arrived, my statement showed a 10.7% interest rate. When I called and asked why, the gal whom I dealt with over the phone (and yes, I got her name and tel extension) had been either terminated or reassigned.
I got the names and wrote very polite and accomodating letters to the CEO and chief corporate attorney enclosing in fat manila envelopes “as a courtesy” copies of the five complaint letters I had written 1: to the US Postmaster (for mail fraud) and 2: to the Investigations Section of the Boston branch of the Federal Reserve Bank and 3: to the State Banking Examiner for Massachusetts, 4: to the Better Business Bureau of Boston, and 5: to the Mass. Dep’t of Consumer Affairs, #4 and #5 for “bait and switch”; as well as a copy of both the offer and my filled-in acceptance form for the cash advance. I never sent any of the 5 complaint letters but I was certainly prepared to.
I spent about $5 for Xeroxing and postage and materials, and undoubtedly a couple of hours of word processing composure time but my rate changed back to 9.5% on the next statement.
I use just one credit card (mainly so I can easily see where all my money goes) and pay in full each month.
My BOA card did that to me. Upped my due date by 6 days after it was the 14th of the month for 18 years. I have a 799 credit score and have never been late with a bill.. They hit me up with a $30 late fee which they took off after I complained about it.
If it is an old account pay off the balance but don't close it. Those old accounts really help your credit score. A new account will hurt your score.
Do you know what cc companies call customers who pay off their bill each month?
DEADBEATS.
No kidding.
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