• Report: #1016720

Complaint Review: Applied Bank

  • Submitted: Tue, February 19, 2013
  • Updated: Tue, February 19, 2013

  • Reported By: Horror Channel TV — Frankfort Indiana United States of America
Applied Bank
P.O. Box 17120, Wilmington DE 19886-7120 Wilmington, Delaware United States of America

Applied Bank Posts mysterious "Fees Charged" on my monthly statement then DOUBLES my monthly payment with NO explination. Wilmington, Delaware

*Author of original report: Really?

*Consumer Comment: Wine is sparkling but your credit isn't

*Consumer Comment: What you are not saying

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I opened a business credit card account with Applied Bank several months ago. They have me a $750 credit limit. My monthly payments were always $35 until my March bill. On this billing statement I immediately noticed my payment due was no longer $35 like all previous payments but had doubled to $70. No explination was given for this dramatic increase. I then noticed that I was over my credit limit due to a mysterious $44.95 "Fees Charged" on my statement. No explination just "Fees Charged".  I knew I have never went over my credit limit and have paid this account religiously since I've had the account and have a sparkling TranUnion credit bureau.

I consider this action by Applied Bank as preditory. I have my payments on time and never went over my credit limit.  This weird "Fees Charged" did however put me over the credit limit. I never was told what is "Fees Charged" was and I merely clipped my card in half and mailed it back to them.

This report was posted on Ripoff Report on 02/19/2013 10:39 AM and is a permanent record located here: http://www.ripoffreport.com/r/Applied-Bank/Wilmington-Delaware-19886/Applied-Bank-Posts-mysterious-Fees-Charged-on-my-monthly-statement-then-DOUBLES-my-mont-1016720. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on Applied Bank

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
1Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

Really?

AUTHOR: Horror Channel TV - (United States of America)

Thanks for the advice however my sparkling credit bureau includes a $15000 Chase Visa and a $3000 Capital One Visa. I only applied to Applied Bank to diversify. Also, is was a business account while my Chase and Capital One accounts are personal. If I were to "max out" my card it doesn't give a bank permission to apply fees without explination. It also doesn't give them permission to double my monthly payment without explination.
Respond to this report!
What's this?

#2 Consumer Comment

Wine is sparkling but your credit isn't

AUTHOR: coast - (USA)

"my payment due"

Read it again. It states minimum payment due NOT payment due. You should always pay more than the minimum due.

A $750 credit limit is not an indication of "sparkling" credit.
Respond to this report!
What's this?

#3 Consumer Comment

What you are not saying

AUTHOR: Robert - (U.S.A.)

You appear to be leaving out or glossing over very key items, as someone with a "Sparking" credit report will not be stuck with a Sub-Prime card.

First if you are close enough to your Credit Limit that $45 puts you over, you are not managing your credit correctly.  This puts you at about 90%+usage, and any usage over 85% is usually considered as "Maxed-Out".  So, not that I expect you to take this advise, but you will find that the recommendation is that you should use no more than about 30% of your credit, and at no time go over 50%.  Next, you infer that you are only paying the minimum payment.  This alone is actually seen as a negative and if an increased $35/month is causing you difficulties you probably have bigger credit issues than you may want to admit.  Anyways as for the Minimum Payment depending on your interest rate, in addition to the the fact that you are close to your credit limit.  With that $35 you are probably paying $15-$20 in Interest.

Did you call them to find out what these fees were for?  Have you gone through your statements to make sure that they have applied the payments correctly?  Have you verified that there are no fraudulent charges on your account?  Have you done anything except cutting the card up and sending it back to them?  Because if you think that will get you out of paying, you are going to be in for a bit of a shock.
Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X