What to say about Cross Country Bank? You can't say much, but you can grievingly sigh.
I obtained this horrible debt, and future scar on my credit report when I was eighteen. Having been turned down for other credit cards, and trying to get my credit started, I turned to the company for a secured credit card, just to help me get started, I had a lot of questions about credit, how it worked and what it would do to help me. I should've known then that they were a bad move when their customer service reps couldn't answer any of my questions or would just stutter and keep asking me if I wanted to make my initial "secured" deposit.
I accepted that it was a secured card, and recquired a deposit, as I made my initial deposit, no problem I got my card, the problems all really started there.
*The company is so hard to deal with, any questions or concerns you have are not addressed, and they confuse you about your payments due, or pending, to the point where when you get off the phone you think, "I don't really know what just happened, or how much I owe..." Which defeats the purpose of customer service.
*Payments take so long to clear on the card, you're literally sweating bullets, in the 2+ weeks between the money leaving your bank account and credit for the payment posting on your credit card account, thinking, hoping, praying they actually got it, and that it will be credited properly. Don't worry you can always contact customer service, so they can tell you, "I'm *not sure*, but yes it *should*". Reassuring isn't it?
*Again payments take SO LONG to post, it's too much of a hassle to ever use the card, you'll just get confused with all the pending payments and charges floating around in no real order, charges and things from last month will hit your account before the payment you made before you even used what you thought was your available credit at the time, will be posted. This opens the door for you to make seemingly dumb mistakes and accrue late fees and over limit charges. Don't worry though, it is your fault, check your statement, it all makes sense, but I mean really if things were more clear cut would you still have messed up so bad?
*The interest is unbelievably HIGH, at 25.99%, and 30%(Deliquent Rate) It's ridiculous anyways for a secured card, that you had to put an initial deposit on.
So I made a stupid decision, I lasted for two months with this card, before I tangled myself up in bad decisions and ended up in 525$ Owed, on a measily 200$ credit card. I was a dumb kid, so I didn't pay it.
It lingered on my credit report for 5 years, I finally wised up and paid it, it's now known as Applied Bank, but don't worry the retarded customer service, and confusing information about payments and work arounds, you just love are all still in tact. I'm still waiting for it to clear off my credit report, and I'm sure it will, but still waiting, of course it will probably take months. Already disputed and noted it. Oh well...
I'm sure it will work wonders for your credit if:
You know how credit works, and you know not to ever (rarely) spend on it.
You only spend 25$ at a time just to turn around and pay it later that month with the interest, and monthly fee, and you're fine with it at that.
You retain it for 2 years or so, and never break the above rules.
But honestly, it's not worth it, struggling to repair or start building your credit?
First Premier Bank Card, I'm not plugging it because I work for them or ANYTHING they've just been wonderful, and I've been using them for 6 months couldn't be happier, wish I'd done this when I was 18.