First USA Bank Credit Cards are a Scam! Wilmington Delaware

I opened up a credit card account with First USA ten years ago as a college student. Their representatives make a habit of luring broke college students in with promises of low interest rates, free gifts, etc.

I admit that I was young and naive, so when my available spending limit and cash advance limits were continuously raised, with no regard to my low annual income, my spending increased.

This spending was not frivolous, mind you. If I didn't have enough money for rent, groceries, or gas, I would use my card or take out a cash advance. This continued until I graduated from college and got a better paying job.

Five years since I cut the card up, I am still paying off the several thousand dollars that I charged up. Although my balance was originally about $10,000 and I have paid over $5000 on it in the past few years, only about $1000 has been taken off the balance. The rest goes to my supposedly low finance charges.

I have called First USA on numerous occasions, asking them to lower my interest rate or settle fairly with me, but to no avail. They always say they'll get back to me and never do. Meanwhile, although I pay well more than the minimum due each month, my balance stays relatively the same.

Imagine paying a few hundred dollars on a bill each month and only seeing less than $20 taken off the balance. It is sickening, but I don't want to ruin my credit by stopping payments to them.

Beware, college students!

Lucy
Gainesville, Florida
U.S.A.