Are you a victim of "FINANCIAL TERRORISM?" If you went to bed one night at an interest rate of 12.9% or lower and woke up the next morning with an interest rate of 23.9% or higher, you are a victim. Credit Card companies such as MBNA (Now Bank of America), FLEET, CHASE, and others, practice this all the time and it is legal. They will use any excuse to raise your rates so they can make "super profits." They have no "Social Conscience" and feed on the misfortune of others. The term "Fixed Rate" is meaningless to these credit card predators. The "Fine Print" is all they need to legalize legalized "usury." Your elected representatives could care less!!!! If you need a credit card get one from a "Credit Union." Write your congressman and ask that he or she support legislation for "Credit Card Reform." Having problems with a "Credit Card Company?" Call the Comptroller of the Currency at (800) 613-6743
How Long Will it Take To Pay Off a $1,500.00 Credit Card Debt at Various Rates Assuming a Payment of $25.00 per month? write your congressman and request he or she support credit card reform!! Credit card companies are ripping you off! Remember, some credit card companies will arbitrarily raise your rate if your credit profile changes. For example, if they think you have to much debt they can raise your interest rate from say 7.5% to 17.0% instantly. They can do this because what they say is a fixed rate is really not a fixed rate. It is deception, and hidden in the fine print of the agreement you sign when you apply for the card. This is one of the biggest legal rip-offs in the United States. MBNA and Fleet Bank are experts at it!!! Beware!!!!
Interest Rate Number of Years Total Cost
10.8% 7.3 $2,300.00
13.8% 8.5 $2,700.00
16.8% 11 $3,500.00
19.8% 23.5 $7,800.00
DON'T BELIEVE AMERICAN EXPRESS!! I have been an American Express customer for 5 years and have always paid my bill. I received a call one night that I had exceeded my limit and my charge privileges would be stopped until I paid up. I asked "what limit, you don't have spending limit, at least that's what you say and that is what is on my account page on your website?" They said, "Sorry, we do have limits and you have exceeded your!" I argued with them but to no avail. They are liars!! I paid my bill and restored my charge privileges. However, they had previously talked me into charging all my recurring business expenses so they can make money. Had I not paid my bill (early by the way) my business would have been crippled because we charge daily recurring expenses on American Express.
Name: Martha Ann Braunbach; SUBJECT: Feistiva Resorts; ADDRESS: Hilton Commerce Center; CITY: Nassau' STATE: Bahamas; TELEPHONE: 242-326-068
BROKEN PROMISES FROM THIS COMPANY - BEWARE - We purchased a time share with Feistiva Resorts in the Bahamas, and were promised a week to get married next year. I have been calling to arrange but get one excuse after the other. Finally I called the home office in Ashville NC and was told that I don't even have enough points to get to the Bahamas Resort except on short notice. I spend $7,000 and got ripped off. I have called them every week since March and get sorry but we can't do anything about it as it was sold in the Bahamas.
ANOTHER CREDIT CARD COMPANY PROBLEM. WATCH THESE "FINANCIAL TERRORISTS" - This is about CITI CARDS and its affiliate thankyounetwork. Fortunately I have had no problem with interest rates since I always pay off my balance, I still have a 23.99% though.
My problem comes from using their rewards program. Did you know that when you redeem your points the process does not go through CITI or thank you network? It goes through a series of third party intermediates, depending on your redeem option, and if one of them screws up you are done and your order gets messed up and neither CITI or thank you network owns up to those mistakes. They always blame the "other intermediates." You have no way of knowing who they are or how to contact them for the problems with your order. I do not recommend anybody using the "CITI REWARDS option with the thank you network it will just give you headaches.
I ordered gift cards from Macy's and it took forever for them to get them and they it turned out i could not use them and I could not return them. Macy's did care about me being satisfied and they did accommodate my needs, thank you network just stared blankly. Customer service for thank you network was horrible they were rude and untrained (that I was told by a manager). They do not try to satisfy their costumers in any way, at least CITI tried but they could not help me since the problem came from one of their "intermediates". This happened right before Christmas and it totally messed up my holiday shopping since I was counting on those gift cards to give away. I am changing to a Chase credit card since they use a different DIRECT system for awarding your points. Keep this in mind when looking for rewards cards. And one more thing, CITI only rewards 1% per dollar and other cards depending on where you use it they can give you up to 5%.
CITICARD, IS THIS REALLY FAIR? - (Richard Centner, Oak Hill, Fl) - Have you received any complaints about CitiCards recent "pre-approved" offer of interest free transfers of over $8000 for the life of the loan? They only grant a credit line of slightly less than that amount, charge you $150.00 and interest of 1.99% or more depending on the credit line granted. I have been delt with in this as have some other people I know. Then they attempted to charge an over limit penalty by adding the $150.00 to the credit line.
WATCH OUT FOR THIS SO CALLED DEBT SOLUTION! - (C. Kirkwood) - American Debt Solutions out of Texas promises to assist with debt reduction through settlements with major credit card companies. They charge a fee, do not perform, and you are left with greater debt and horrible credit.
NOT A GOOD WAY TO REWARD CUSTOMERS - (Ann Brown, Indianapolis, IN) - MBNA ups rates across the board. My rate went overnight from 9.99% to 11.99%. I've been with this company for 9 years. Never was late on a payment in 9 years. That is the thanks for rewarding a loyal customer.
WHAT'S UP FREEDOM DEBT MANAGEMENT? - (Gary Griffith, Piedmont, SC) - Freedom Debt Management 4400 N Federal Highway #121 Boca Raton,Fla. never did what they promised they would do. They took our money & still have some of it that we never got back. They kept telling me they had sent in proposals that they didn't. This is in reference to the last email I sent to you. I never heard from them. The last person I talked to there was supposedly a supervisor who was rude & said they were closing our account out. They never sent anymore money to creditors. You can use my name when talking with Freedom Debt management if you wish.
IS THIS TITLE COMPANY CUSTOMER ORIENTED AND FRIENDLY? - (Manual Aguilar, Philadelphia, Pa.) - Olde City Abstract Company, Philadelphia! Horrendous! They will notify you of problems with your Title, do nothing to fix the problems. Then they will demand that you set up an escrow account for 60 days and tell you that you have to research and solve the problems. If you do not solve the problems the contract says that they are allowed to use YOUR escrow account to pay THEIR lawyer to solve the problems. In buying, selling, moving, etc. You may forget about this, they will not remind you. When you go about trying to solve problems they will be nasty and condescending. They assume that the escrow money is theirs. As a Title company all they do is run a database search and find errors, they do nothing else and they charge a fortune. They suck!
ANOTHER MBNA INTEREST RATE INCREASE IN THE NAME OF " SUPER-PROFITS" - (Tracey D., Youngstown, Ohio) MBNA raised my interest rate from 9.9 percent to 17.98. I called to ask that it be lowered and they told me they were concerned because my balance was getting too high. I did not go over the credit limit they gave me, and she verified that all my payments had been on time. She then said, "Studies show that if we raise your interest rate you will pay your bill off sooner."!!!! Credit Card Companies continue the "rip-off."
H&R Block Tax, Philadelphia, PA., Refund 2003: (Lloyd Guy, Philadelphia, Pennsylvannia): As you know the tax season is here again. I just want to alert the "Common Folk" of a problem I had with H & R Block last year Feb 2003. Anxious to receive a refund I went to H & R Block to see what the cost would be if I had already prepared my own taxes. They first quoted me a price of around $120.00 which didn't seem bad to receive a check in two days. But when the preparer (Ms Hopkins) finished my total fee was 201.95. I asked her why and she explained that she had add 100.00 just for running it through an H&R Block taxed setup. I told her never mind then to delete everything I didn't want to pay that much money. She came back with her superviser, Mr. Wright, who tried to explain. I calmly and politely declined their services. He then went to the back and returned and assured me that everything was deleted from their system. So I went on to online and filed @firsttime.com I think the name was. I check back at firsttime.com and they advised me that the primary social security number had already been filed and my refund was denied. I called H & RBlock to see if I had a refund. ( I didn't want to get into detail with the front desk) The receptionist said I could come and pick up my check. I advise her that I needed to speak with Mr. Wright. He came to the phone. I explained, he remembered me and said we didn't have a problem he would not charge me anything just come in. He gave me a form 2228 but never filled in the Final resolution to my ignorance. In my continued effort to resolve this with Mr. Wright he said he was moving to Florida where he was blessed with a beautiful home and advise me to contact his boss who simply and finally said I took the refund check and they're would not give me anything. So as a consumer alert make sure that anything promised to you is given to you on the spot if you can. Or be sure that whatever form is filled out is exactly what you want it to say.
Smart Card Pros (e-commerce processing): (Lyle Valentich Duncanville, Texas) My complaint is against SMART CARD PROS, formally ECP COMMERCE. They are a credit card processing company. They have routinely been extremely tardy in depositing money in my account. I am a small business, so I need every dollar when it is due me! In November, for 2 weeks, 2 days, no money went in my account from credit cards. Their answer was " Whoops! We accidentally turned off your aouto batch...sorry!" They are not interested at all in righting the wrong, paying my late fees and nsf fees, etc. Then here in December, I switched banks. I was advised to fax the new routing number and acct. number to them. I did as directed. Then they again dropped the ball and tried taking their fees out of the closed account! They then held up almost 1500 dollars. (held up 3k in November!) Then the guy I had been dealing with says the money didn't go through because "someone" forgot to change the routing number! ARRRRGH! Not once have they permitted me to speak w/ a supervisor. They only release small amounts of the large sum to my account when there is more than enough to cover their fees. Not once has a supervisor called me back when asked if they would. They will not even give me supervisors last names or their direct phone lines. Stay away from this company!! As soon as I get my money, I'm switching e-commerce providers, and I am filing with the Attorney General and better business bureaus!! Lyle V. Tattoo Body Works www.tattoobodyworks.com.
mbna attempts to settle class action suit brought by Gerald D. Broder involving breach of conract, common law fraud and violation of the New York Consumer Protection Act. This suit basically asserts that MBNA used misleading solicitation to get credit card business. What else is new??? This is a common occurrence in the credit card industry as they continue to "RIP" the consumer off!!!! Write your congressman and demand credit card reform. For information call 1-877-867-6076, the Class Administrator.
federal judge upholds class action status of an anti-trust case brought by Wal-Mart and other retailers against MasterCard and Visa. The case involves MasterCard and Visa requiring retailers to accept a debit card, if they also accept charge cards ("an honor all cards policy") and charging excessive transaction fees in the debit card clearing process.. Of course these fees are passed on to the the consumer with higher prices. You end up paying the fee plus the interest on whatever you charge.
fleet continues to fleece the consumer - (N E Miller, Houston, Texas) Fleet increased a supposedly "Fixed Rate" from 7.9% to 13.9%. No explanation, just "To Bad, Can't Help You." The consumer, fed up with lies and unethical behavior, closed the account and transferred the balance. Remember, their is no such thing as a "fixed rate" in the world of credit cards when dealing with large credit card issuers. Unfortunately, our law makers do not have the will power to pass laws preventing consumers from being ripped off by misleading advertising. always read the fine print prior to signing your credit card agreement.
Watch banks!! This one seems to like to inflict severe punishment upon their customers - (Marion Howard, Glen Falls, 12801) Charter-One Bank overdraft charges - I was $4.56 overdrawn and the bank charged me $189 in NSF and prolonged overdraft charges. All calls to overturn these fees resulted only in a $59 credit.
Beware, another credit card rip-off - (Nathalie Hernandez, Los Angeles, California) Fleet credit card services has a nasty way to punish their card holders should they be late to make a payment. According to their credit agreement, they can increase any card member's rate up to 26.99% should they be late more than once in a 6 months period. I personally went from a 7% interest rate to 26.99% in 6 months. And this is completely legal being that the card agreement states this outcome. I strongly suggest that people go to Citibank or Discovery for their credit selection. These companies are flexible and courteous to their employees. I welcome anyone to share their same experience with me.
mbna balance transfers - (Dani, Ft. Walton Beach, Florida) If you take the bait and transfer balances, do not use the card for purchases. All payments are applied to the lowest interest rates, which means that you pay interest on ALL purchases until the full balance is paid. This should not be legal. We need better regulations on the credit card industry.
prepaid credit card rip-off - (Serefina Mesa, Glen Burnie, Maryland) I was contacted by a telemarketer at home and was told that I had been approved for a MasterCard w/ a $1000 credit limit as a bonus I would receive what is called a Preferred Merchants Card (NACS Corp) which I could use to place orders from a catalog. As a condition I had to send in $200 deposit but was told that I could would receive 2 $100 certificates that could be used toward the payment of the card. 8 weeks later I received the Preferred Merchants Card but no MasterCard. When I called the customer service line, I was told that in order to receive the card that I had to log onto a website that was printed on the back of the Preferred Merchants Card. I then had to apply for the card. The $200 I sent in was NOT for the credit card but for this Preferred Merchants card and that that my deposit was non-refundable. Had I never called to inquire about where my MasterCard was, they would had never told me I had to go onto the website and apply separately and contrary to what I was told on the phone, that I still had to wait and see if I was approved. The catalog for this Preferred Merchants card is filled with a bunch of small home decorating items like pictures and brick-a-brack none of which is worth the $200 that I sent in. I basically flushed $200 down the toilet.
hey first merchants bank, do you care about your customers, or is it only about profits? We were below our credit limit when the annual fee was charged. That put us over our limit and we were charged a " over the limit fee" of $39. We sent a payment in containing enough to cover the OTL fee,amount over the limit,finance charges and the minimum payment. Needless to say next month we were charged an OTL fee again plus finance charges. We called to find out how much we needed to send to get below our limit.We were told an amount and we sent it in. The next month we were hit with a OTL fee again because the amount we were told to send in covered all but $6.39.We called and asked them to explain.We were told we did not send enough in, so there for we were being charged again.Phone calls to their "customer service" were met with being treated like an idiot. If you do not want extreme frustration, do not deal with Direct Merchants Bank!!
What's the deal chase? (Ann Day, Cicero, Indiana) I contacted Chase Bank to get a pay off amount on my mother's, now deceased, credit card card. She passed away in February of 2002. I have sent death certificates, executor letters, and made multiple calls. I paid off the balance they gave me. Wheni called they stated my balance is 0 and it will take two billing cycles to reflect. Instead of 0ing out the balance they keep adding finance charges and late fees onto the card. I paid off the balance but the balance is up to $132.10 on late fees again. They refuse to change the address to mine even though I am executor on the estate. The department that handles this is only open days and when I call they say it is taken care of then two months later the bills start up again.
First National Bank of Marin, ky - (Mr. Daugherty of Morehead, Kentucky) This bank offers secured credit cards and gives the customer false hope of rebuilding their credit. After using the credit card since March,2000 I recently obtained a credit report and started monitoring my credit. Much to my disbelief FNBM has listed me having three accounts with them and reported amount due, payment history, etc for each. This error in reporting has lowered my Beacon score and kept me from obtaining other credit. Avoid First National Bank of Marin......OCC has been contacted about this situation and I hope they are held accountable for this error in reporting.
Citicard ups the rate!!!! (firstname.lastname@example.org) Who do I complain to about CitiCard charging me 24,990%?
citibank uses "bait and switch tactic to rip off customer - I opened a Platinum MasterCard with AT&T Universal Card Services (Citibank) two years ago at an introductory rate of 3%. After nine months the rate increased to 8.65%, which was expected. In March, 2002, I noticed that my interest rate had increased from 8.65% to 19.99%. When I phoned AT&T about this ridiculous increase, I was informed that my credit score had decreased, which warranted the higher rate being charged. I immediately closed the account and followed up with a letter of complaint to Citibank. The next month, April, 2002, my interest rate increased to 24.99%.The reason for the change in my credit score is because I recently purchased a house, thus increasing my debt to income ratio. Regardless, I have never been late with, nor missed any credit payments, and have an impeccable credit history. In May, 2002,
I filed a complaint with the Texas Attorney Generalís Office, citing Citibankís bait and switch tactics. Within two weeks of filing the complaint, Citibank informed the Texas AG it had reinstated my previous interest rate of 8.65%. The Texas AG then closed its investigation.
Not only did Citibank keep the interest rate at 24.99%, it intentionally waited until one day after my June payment was due, before posting the payment. I can say with certainty that the delay in posting my June payment was intentional, because the payment was made electronically on June 15th, however, it was not posted until June 24th (the payment was due on the 23rd). According to my bank, Wells Fargo, the money was transferred from my account to Citibank on June 16th.By holding the payment for eight days, Citibank was able to invoke one of its terms that allows it to charge higher interest rates to slow paying customers. Additionally, it charged $32.00 for the late payment. Needless to say, I have requested that the Texas AG reopen its investigation.
mbna strikes again, and again, and again - (Gary Uba of Arvada, Colorado) I transferred my to a MBNA VISA PGA Tour card in June at 0% APR at least for 6 months with $0.00 transfer fee and free golf balls. The first statement from MBNA charged me a transfer fee. I called and they credited me back my charge. The current statement is charging me finance charges beginning August 1. I looked back at the credit card agreement they sent to me and found that they had changed the date that transfer fees would be charged after July 2002. This is different than the promotion on the application. My problem is that the promotion (0% transfer fee, 0%APR on transfers for at least 6 months, and with free golf balls with any transfer) and application with transfer information were on the same piece of paper and I did not copy that form. Can you find a copy of that promotion (this was out in either March, April or May 2002) Thank you.
Can this be century 21, an ethical real estate company? (Mr. Granberry writes) Who do I complain to about Century 21? They said that if I paid them $500 they would re-sell my timeshare. It's 2 years later and they have not sold it or informed me of any progress regarding the sale of it. I am still paying for a timeshare that I can't afford (I am retired, divorced, and on a fixed income) and have NEVER used. Please help!
direct Merchants bank increases credit card interest ripping off another consumer - (Bruno Machado, The Woodlands, Texas) I have numerous credit cards that were used to pay for educational expenses thoughout my years in college. Now I have been paying them off slowly and feeling like I am making some progress. I have very excellent credit history and have never defaulted nor been late on any of my payments. I had a purchase that I wanted to make and called around to see what card would give me the lowest rate. Direct Merchants Bank Gold Mastercard stated that my interest rate was at 11.24 percent. This last month I received my credit card bill for Direct Merchants Bank Gold Mastercard and it had jumped to 28.99 percent. I have not been late on any payment and thus they had no reason to increase it. I called them on it and they stated that they ran a credit report and that they reviewed my account and adjusted the interest rate accordingly. These credit card crooks are not going to get away with this. I would like any information or help in fighting them in court. I'm really in a bind here because, again just as I think I'm making progress on my bills they take advantage of me. I want to teach those greedy corporate executives at Direct Merchants Bank that they are not allowed to do this to the public. If I can just get pointed in the right direction, maybe to file a class action law suit against them for what they are attempting to do
I am a cardholder at CITIBANK. I called 2 months ago and changed the address on my statement, they changed the address back to one I had two years ago, I did not receive any statements and now am with a collection agency. When called to straighten out, the supervisor that I spoke to was rude, argumentative, and hung up on me without informing me he was going to do such a thing. I called back and spoke to someone else, they were going to send me to a complaint department for supervisors, after waiting for 30 min. the call was disconnected on their end. They are the most disorganized company I have ever seen. I have worked at credit card companies and I understand the process. I would never use these people again and no one else should. They do not keep track of their accounts, and do no care about their customers. (submitted by: Carey Solovan, Simonton, texas)
another credit card scam - BankCard Credit Center of Somerset, New Jersey sent a letter asking if you want two credit cards each with a credit limit of 5,000.00. Then send in 59.50 for a speed=up processing fee. Then you receive a letter stating these are secured credit cards and your fee is not refundable. Either send them money for a svaings account equal to desired credit limit. All calls to their number (732) 729-4395 are either ignored or a nasty lady tells you to bug off. This is definitely a scam because they don't highlite that this is a secured credit card offer. Please get me my money back. Thank you
Beware of Getting Gateway Credit - formerly of Hurley Bank in SD, now taken over by Citicorp; I opened and account in March of 2001; charging a little under $2000. I have made a $100 or more payment, each month, but have been charged outrageous finance charges (29.99%) and I have been charged tons of late fees, yet I cannot get them to send me the bill on time, and often I do not receive it at all. Over a year later, they are claiming I owe over $1700.00 I called and asked for a printout of my payment history, and charges to my account, and they refused to send one. I am now contacting my state attorney general's office.
american general finance will not update account: My account has been paid in full and closed for months, however I continue to receive statements instructing me to pay a balance of 14.78 IMMEDIATELY. I have called and spoke with numerous American General Finance customer service representatives in regards to the account. Every one of the representatives assured me that the account was in fact closed and that I would not continue to receive a statement asking for payment. The latest statement that I received was on March 19, 2002. Okay American General, get with the program. This is unacceptable and, if American General is reporting this account late to the credit bureau, harmful to the customer.
mbna attempts to settle class action suit brought by Gerald D. Broder involving breach of conract, common law fraud and violation of the New York Consumer Protection Act. This suit basically asserts that MBNA used misleading solicitation to get credit card business. What else is new??? This is a common occurrence in the credit card industry as they continue to "RIP" the consumer off!!!! Write your congressman and demand credit card reform.
MBNA, WILMINgTON, DE. - Will rip you off!! Beware, they will increase interest rates arbitrarily using change in credit profile as an excuse. It does not matter whether or not you have a good payment history. Other credit card companies may have similar policies. All in the interest of profits. Ask your credit card companies whether or not they have this policy before signing on the dotted line.. If they say no, get it in writing. If you have a PREPAID LEGAL PLAN, fax your contract to your plan attorney for an opinion.
FLEET BANK, Wilmington, De. - SENT OUT OFFERS FOR AN INTEREST RATE DECREASE TO 7% FOR TRANSFERRED BALANCES STATING "THIS IS NOT AN INTRODUCTORY OFFER." THEN AFTER 3 MONTHS RAISED INTEREST TO 17.9%. HOW THIS CASE WAS RESOLVED: Customer wrote a letter to The Comptroller of the Currency, the federal agency that regulates credit card companies and The State Attorney Generals Office. After looking at the evidence, both agencies found for the customer and Fleet Bank was directed to change the interest rate back to 7% plus give a refund for interest charged in the interim.
CITIFINANCIAL - Cannot keep accounts straight. Watch Closely!!! In this case the company opened two accounts for the customer instead of one. The customer paid the required payment to her original account and the other account went into default. When she finally discovered the mistake, it took 6 months and numerous calls to get it straightened out. In addition, an account that was no interest and no payments for a year was paid off in the required time frame but citifinancial charged the interest on the deal anyway and the customer had to go through a lot of grief in order to get it straightened out. tIP!!!!!!! If you enter into a contract with a company for no payments and no interest for a year or two, make sure you send that final payment certified mail and in time. Otherwise the finance company will charge you interest for the entire period at an exorbitant rate.
SunTrust BANK IN Marietta, Georgia - HORRIBLE SERVICE AT SUNTRUST BANK, HE LINE OF CREDIT!!! I signed loan docs on 9/22, have paid on time 2 payments using the temporary cpns that they provided at close for an intrest only loan. They have not credited my payments in a timely fashion. Even worse, they entered the loan as a principle + interest loan vs a interest only loan. Despite making the correct payments, my principle has increased by $145 and they are showing a payment due of almost 2X the correct amount. I have called at least 5 people including the original loan officer to get this fixed over the past 6 weeks but all to no avail. The customer service people are very unhelpful and sometimes rude. Worst of all, I have been receiving harrassing "collections" type calls up to 5X per day regarding payments that I have already made. I have been told that the problem is corrected on numerous occasions but the calls continue and the info on the "express info line" and invoices continues to be incorrect! T! his is my second HE line with Suntrust and I experienced similar problems with the other line. My advice to everyone---STAY AWAY!!!! The rates are good but the headaches are NOT worth it!!! I have documentation to substiate my claims and have filed a complaint with the bbb of atlanta: complaint id #1745472 Watch the banks you sign up with, try asking around...friends...family etc. i mean after all they do have all your money...try a mattress maybe?
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Last modified: March 22, 2011, 0645 CST