Here's the deal. I see there are a few people on here who have not had problems with this company. Good for you. My advise get out while you still can.
I am not a dead beat debtor. I have always payed by cash and recently purchased a home. I have 2 low balance credit cards through Orchard Bank and my debit card at my bank and that's really all I've ever needed.
On 04/19/07 I received a credit card in the mail from this company for a balance of $250 along with a bill for $20.00 and a late fee of $29.00. Apparently the account was started in March, but I never received a disclosure letter or a card prior to this date. I was confused. I called the company and spoke to the customer servivce rep (who was very nice) and she advised that the card had been sent and returned to them for an invalid address so they sent out another one to my PO Box.
She kindly waived the fee and advised me that she would adjust the statement billing period and activate the card that day. I thought this would be a good way to help my daughter learn how to manage a credit account. I have never been more wrong in my life.
Today is May 17, 2007; not 30 days from the time the card was activated and I received a collection call for a past due balance of $69.00!! WHAT!! How did I just activate the card on 04/19/07 and not 30 days later am I receiving a collection call and a bill that shows my account as being 10 days past due??? What the billing period is for every 19 days???? NO WAY!!!
This is what the customer service guy Darryl Lamb told me when I said I wanted to close my account and my attorney would contact the company regarding the charges, late fees, monthly fees and fiance charges that are marked as a "purchase"
Per Darryl Lamb, customer service rep at Credit One Bank:
1) All closed accounts will access a $3.00 per month "closed account maintanence fee" until the balance is paid in full! (That CANNOT be Legal); 2) Of course the account will continue to access a finance charge on any past due balance; 3) If the card has been used to make any payments on contracted accounts i.e. subscriptions, singles website subscriptions etc the account will still be charged even though it is closed and they will not deny the charge when it is received (FYI if you have ever made a one time payment to your cell phone etc. and your bill is due the company has the right to bill the same credit card without your immediate authorization, that is in your contract when you sign up for their bill pay/web bill or credit payment service); and the late fee/over the limit fee will still be applied even if it is the "closed maintanence fee charge" that causes your account to be over the limit!!!
Now I don't know about you, but if my account is closed you cannot legally charge the account!!! It should be declined because the card is not active correct???? So does someone want to still tell me how this business is working on the legit??
I'm glad I have an attorney for this one!!
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