Have been paying on balance transfer with lifetime rate of 1.99% for awhile. About a year ago a $1.75 minimum interest payment was substituted for my monthly interest charge, which should have been about $1.00 or so. When I finally got tired of this gouging I contacted the bank via letter and was given a canned spiel about the minimum fee being allowed under my amended agreement. When challenged about the lifetime interest rate being ignored they countered that it was because I had a revolving balance.
The only revolving balance on my account is an unknown charge for approximately ONE DOLLAR which has not been paid off even though I regularly pay 7.5 times the minimum payment ($75 on $10 minimum), which appears to be in violation of the CARD ACT requirements. When I reminded them of this they just sent me the same canned crap and claimed that they can apply the overpayment to any balances that they choose, which in this case means they will keep the ONE DOLLAR on the revolving account so that they can keep charging me at least twice the amount of interest that I actually owe them.
Run, don't walk, from these greedy bastards!
Zero stars! Horrible customer service! These people are scammers and will try to ruin your credit! I have been a perfect customer for several years now and only had $40 bucks left on the account as owed in jan. January is the last time i had received a bill. It's now march and i don't receive a bill but what i do receive is this letter stating that due to non payment my account has been sent to collections!! I didn't understand this b/c of me not getting a bill in 2 months (i just thought it was all paid off). I call the number and the guy says oh ya someone sent it back saying not a good address. I haven't moved at all in 5 years and i did receive this letter about them cancelling the card due to account being past due... So obviously the address is still good! He then tells me what i owe and asked how i want to pay it. I said i don't want to pay anything until i see a actual bill. So he has me call customer service (says he is just collections). Customer service number is the same number i had called when i talked to him? Next lady was just plain rude (her name was kim). She tells me this is my fault and that i should have known i wasn't receiving the bills!!! Isn't that the whole point in a bill, to remind you what is owed and when it's due?! She tells me there is nothing she can do and that it is now on my credit! She didn't see that it was sent back to them and just kept repeating that it was sent! 3rd person i talked to did see it as sent back to them in the notes on my acct!! They are messing up my credit all over $40! These people are disrespectful and ignorant, i don't see how they are still in business! I will not be paying them anything ever again! I will have to take this up with the credit bureau unfortunately! I work in customer service and would never treat any of my customers this way! Customer service is supposed to help people figure out a solution to whatever the problem may be..... Not to blame the customer for someone else mistake
you have to pay 3.5 % of the total balance every month. transfer $ 10,000 monthly payment $350
most banks 1.5 % - 2%
did not realize I missed 1 payment 3 days later cut credit limit. received this letter 3 weeks later.
same week collection called warning to pay up.
Received letter on 2/13/2014 collection dept. cut me off gave me 30 days until my execution.