• Report: #158208

Complaint Review: Cross Country Bank Or Applied Card Bank

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  • Submitted: Sat, September 24, 2005
  • Updated: Wed, October 19, 2005

  • Reported By:New Port Richey fl
Cross Country Bank Or Applied Card Bank
PO BOX17125 Wilmington, Delaware U.S.A.
  • Phone: 561-982-9111
  • Web:
  • Category: Banks

Cross Country Bank - Applied Card Bank ripoff Wilmington Delaware

*Consumer Suggestion: Grace Periods

*Author of original report: huh? ..they took off the $11.02 charge so I do not owe them anything and the account is now closed

*Consumer Comment: You needed to get the payoff

*Author of original report: Cross Country Banks Response

*Consumer Suggestion: Jaime sheesh!!!!!!!

*Consumer Suggestion: Credit Card Fraud By CC Bank

*REBUTTAL Individual responds: The meaning of Zero Balance

*REBUTTAL Individual responds: The meaning of Zero Balance

*REBUTTAL Individual responds: The meaning of Zero Balance

*REBUTTAL Individual responds: The meaning of Zero Balance

*Consumer Suggestion: Question

*Consumer Suggestion: Question

*Consumer Suggestion: Question

*Consumer Suggestion: Question

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I am posting or possibly reposting this report so that others will be aware of the fraudulent actions by CC Bank.

I had an account with CC bank since 1999. I paid my bills on time and only had a $950 credit limit. I finally consolidated my bills and paid the account off. Or so I thought. I paid the full balance on the account which is what I assumed would be the full amount. On the 26th of August I called CC Bank and spoke to a representative and told the lady that I wanted to close the account. She looked my account up on her computer and told me that she would close the account, and asked me why I wanted to close it. I told her that the fees and interest rate was too high and this is why I wanted to close it. She said she would close the account and I would receive a letter stating that the account was closed and I had a "ZERO BALANCE" She never mentioned to me that I had any outstanding accrued interest amounts, just that I had a zero balance.

Fast forward a couple of days and I did receive a letter stating that the account was closed with a "ZERO BALANCE".

Then I received a bill from them with a charge of $11.02 posted as a "Finance Charge". Well, on the bill it also states that the account is closed, and was closed on the 26th of August 2005 with a zero balance. So how do you accrue interest charges on a ZERO BALANCE?

I contacted them by mail to the address listed for inquiries to protect my legal rights as calling does not protect you. I know they received the letter from me and the copies of the bill and their letter to me on the 17th of September as I sent it priority mail ( costing me $4.30) with a tracking number.

Well, since the bill due date is the 29th of September, I checked online just to make sure it showed this "ZERO BALANCE".

Guess what! It showed I owed them $11.02 as a finance charge.

So I called at my expense their phone number listed on the letter that stated the account was closed. Rakeisha the customer service agent tried to finagle her way around this charge by telling me that the interest had accrued up to the time that I had closed the account. I told her repeatedly that I had a "ZERO BALANCE" and therefore , could not possibly have any accrued interest charges as I paid the account in full which included any interest charges and it was paid in full before the next billing cycle. She insisted that these charges are correct and they had the right to put them on my account. Interesting, but when I closed the account I was told I had a "ZERO BALANCE". So how is it possible to have a zero balance and then be charged accrued interest charges? Seems more than fishy to me, possibly illegal? This was done to my son as well when he closed his account. He called them , but the representative didn't bother to argue with him or to try to explain away this charge, he simply apologized and took it off. They did remove the accrued interest charge for my son. I have not received any response to my letter which they received on September 17, 2005 and I really don't know if this woman representative actually removed this "Accrued charge".

I don't know what else to do at this point but I have excellent credit now and don't want CC Bank to ruin it for me. What should I do, who should I contact about what they are doing and is it legal for them to charge me a finance charge on a zero balance account?

Jamie
New Port Richey, Florida
U.S.A.

This report was posted on Ripoff Report on 09/24/2005 04:39 PM and is a permanent record located here: http://www.ripoffreport.com/r/Cross-Country-Bank-Or-Applied-Card-Bank/Wilmington-Delaware-17125/Cross-Country-Bank-Applied-Card-Bank-ripoff-Wilmington-Delaware-158208. 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.

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REBUTTALS & REPLIES:
0Author 10Consumer 4Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

Grace Periods

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

This is just an FYI for those of you who are getting credit cards..make sure your CC company has a grace period.


Not all credit cards have a grace period. When you use a card with no grace period, the bank begins charging you interest on the day the purchase is made or the day it is recorded (posted) on your account, depending on the bank's policy. When a credit card does not have a grace period, there is no way to avoid paying interest on your purchases.
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#2 Author of original report

huh? ..they took off the $11.02 charge so I do not owe them anything and the account is now closed

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

Guess the last person who responded to my post did not actually read what I wrote...they took off the $11.02 charge so I do not owe them anything and the account is now closed with a zero balance. BTW, unlike most banks, CC Bank does not have a 30 day grace period..so even if you pay off your balance each month they charge you a .50 cent finance charge anyway...to hold the account open so they can keep charging you each month. And when I initially tried to close the account I was told I had a zero balance, meaning I owed them nothing, and had a letter from them stating this and that the account was closed. They put these fraudulent charges on to hold open the account after it was closed.
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#3 Consumer Comment

You needed to get the payoff

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

You needed to pay the payoff amount, not the outstanding balance.

The extra $11.02 was the interest for the period between 8/26? and the period close date. Technically, when you did close the account and pay the balance, it was zero. However, you accrued interest for the remainder of the period.

If you paid the balance in full each month, this would not be an issue.

They probably should have given you the payoff since you were closing the account.

I'd pay the $11.02 ASAP.
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#4 Author of original report

Cross Country Banks Response

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

Well, I spent about 20 minutes yelling at some poor woman who probably makes $8.00 an hour and reads from a script..but finally she gave in and said "Ok I will take off the $11.02 finance charge and your account will now be zero" She was only repeating to me what her supervisors probably told her to tell customers to get that last red cent out of them....The charge was removed from my account.

PS. To the attorney or whoever you are who has emailed and called me at home asking for the zero balance letter, I no longer have the letter as I tossed it out when they removed the charges. Sorry , but I hope you do win your class action suit in CA against them.
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#5 Consumer Suggestion

Jaime sheesh!!!!!!!

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

First and foremost I don't know work for CC sorry I don't even know where they are located, check where I live. Now what I was giving you was NORMAL credit card practices, not this obviously a scam company. Did I explain what the extra charges may be......yes. But, did I also you a way to clear your account if this were a legitimate company.......sure do. Don't have a chip on your shoulder for someone who was trying to help you.
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#6 Consumer Suggestion

Credit Card Fraud By CC Bank

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

http://www.ag.state.mn.us/consumer/PDF/CCBSecondAmendedComplaint.pdf
http://www.ag.state.mn.us/consumer/PR/pr_CrossC_40303.htm


Of interest: back in 2003 the MN AG's office filed a lawsuit against CC Bank. More recently, so has PA and NY.
Reasons outstanding but not exclusive:
---------------------------------------------
Failing to disclose to consumers that they will be charged a fee for paying by phone so that in cases where consumers believe that they have paid off a balance by doing so, they actually are incurring a new charge.

Deceptive tactics with consumers to extend the time during which CC Bank can continue to charge fees to the consumers account and hinder the consumer from paying off the debt, including providing consumers with false, misleading and conflicting information about necessary minimum payment amounts the status of repayment proposals and providing other misleading and conflicting information.

----------------------------------------
My information:
Previous months balance was $846.52
A Payment was made on 8/12/2005 for $81.95
A Payment was again made on 8/26/2005 for $835.50
It shows payments made for August 2005 of $917.45
It shows purchases and cash advances of $70.93
Debit Adjustment of ZERO
Finance charge of $11.02 -NEW BALANCE $11.02

So please someone explain to me how I made payments which exceeded the previous balance, but still have a finance charge imposed on the difference of the previous balance and payments made. This seems to be exactly what was done.

I was charged a finance charge on my own payments to CC BANK. Not only did I pay a $6.95 monthly online fee to pay my bill but I am now being charged a finance charge on my own payments.
The difference between the $846.52 and $917.45 is $70.93

So essentially, I can never pay off this account as payments by me are considered purchases or as cash advances??? Please someone explain this to me, and not a corporate shrill from CC Bank.
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#7 REBUTTAL Individual responds

The meaning of Zero Balance

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

I hardly think that you would simply stumble on this post and comment on it unless you had some interest in CC Bank. It would be irrelevant if I closed the account via bank transfer or if I had paid the account in full by check. I had the account since 1999 and my history with them was excellent. It would be nice if CC Bank could claim the same customer excellence,,, but read on.

According to CC Banks own information on their billing statement, it specifically states that if an account is paid in full then NO FINANCE CHARGES ACCRUE. This is under their finance charge section of the bill.

When I closed my account I received a letter stating that my account balance is ZERO. This means that I owed them nothing, nada, zippo at that time. It's irrelevant how THEY post their charges or how they figure THEIR finance rates. Once your account is paid in full , NO FINANCE CHARGES ACCRUE.

My account was paid in full as I received a letter stating that I had a ZERO BALANCE. Again, ZERO BALANCE means you owe ZERO or nothing. Paid in full. If it was not a ZERO BALANCE then I would have received a letter stating that I had finance charges pending to the account. CC Bank can continue to post finance charges daily and basically never allow your account to close if what your stating is true.

If you look up CC Bank on the internet it seems that this issue was addressed by a few State attorney General's offices and consumer advocate offices. It seems that when people tried to close their accounts they misled customers with the amounts owed , deliberately holding the accounts open so that they could charge more fees to these customers accounts.

Now; had I called to close the account and was told that I had money that I owed them or any outstanding balance during the month of August of 2005, I would have paid that amount. But I have a letter stating that I have a ZERO BALANCE and that my account was closed.
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#8 REBUTTAL Individual responds

The meaning of Zero Balance

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

I hardly think that you would simply stumble on this post and comment on it unless you had some interest in CC Bank. It would be irrelevant if I closed the account via bank transfer or if I had paid the account in full by check. I had the account since 1999 and my history with them was excellent. It would be nice if CC Bank could claim the same customer excellence,,, but read on.

According to CC Banks own information on their billing statement, it specifically states that if an account is paid in full then NO FINANCE CHARGES ACCRUE. This is under their finance charge section of the bill.

When I closed my account I received a letter stating that my account balance is ZERO. This means that I owed them nothing, nada, zippo at that time. It's irrelevant how THEY post their charges or how they figure THEIR finance rates. Once your account is paid in full , NO FINANCE CHARGES ACCRUE.

My account was paid in full as I received a letter stating that I had a ZERO BALANCE. Again, ZERO BALANCE means you owe ZERO or nothing. Paid in full. If it was not a ZERO BALANCE then I would have received a letter stating that I had finance charges pending to the account. CC Bank can continue to post finance charges daily and basically never allow your account to close if what your stating is true.

If you look up CC Bank on the internet it seems that this issue was addressed by a few State attorney General's offices and consumer advocate offices. It seems that when people tried to close their accounts they misled customers with the amounts owed , deliberately holding the accounts open so that they could charge more fees to these customers accounts.

Now; had I called to close the account and was told that I had money that I owed them or any outstanding balance during the month of August of 2005, I would have paid that amount. But I have a letter stating that I have a ZERO BALANCE and that my account was closed.
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#9 REBUTTAL Individual responds

The meaning of Zero Balance

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

I hardly think that you would simply stumble on this post and comment on it unless you had some interest in CC Bank. It would be irrelevant if I closed the account via bank transfer or if I had paid the account in full by check. I had the account since 1999 and my history with them was excellent. It would be nice if CC Bank could claim the same customer excellence,,, but read on.

According to CC Banks own information on their billing statement, it specifically states that if an account is paid in full then NO FINANCE CHARGES ACCRUE. This is under their finance charge section of the bill.

When I closed my account I received a letter stating that my account balance is ZERO. This means that I owed them nothing, nada, zippo at that time. It's irrelevant how THEY post their charges or how they figure THEIR finance rates. Once your account is paid in full , NO FINANCE CHARGES ACCRUE.

My account was paid in full as I received a letter stating that I had a ZERO BALANCE. Again, ZERO BALANCE means you owe ZERO or nothing. Paid in full. If it was not a ZERO BALANCE then I would have received a letter stating that I had finance charges pending to the account. CC Bank can continue to post finance charges daily and basically never allow your account to close if what your stating is true.

If you look up CC Bank on the internet it seems that this issue was addressed by a few State attorney General's offices and consumer advocate offices. It seems that when people tried to close their accounts they misled customers with the amounts owed , deliberately holding the accounts open so that they could charge more fees to these customers accounts.

Now; had I called to close the account and was told that I had money that I owed them or any outstanding balance during the month of August of 2005, I would have paid that amount. But I have a letter stating that I have a ZERO BALANCE and that my account was closed.
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#10 REBUTTAL Individual responds

The meaning of Zero Balance

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

I hardly think that you would simply stumble on this post and comment on it unless you had some interest in CC Bank. It would be irrelevant if I closed the account via bank transfer or if I had paid the account in full by check. I had the account since 1999 and my history with them was excellent. It would be nice if CC Bank could claim the same customer excellence,,, but read on.

According to CC Banks own information on their billing statement, it specifically states that if an account is paid in full then NO FINANCE CHARGES ACCRUE. This is under their finance charge section of the bill.

When I closed my account I received a letter stating that my account balance is ZERO. This means that I owed them nothing, nada, zippo at that time. It's irrelevant how THEY post their charges or how they figure THEIR finance rates. Once your account is paid in full , NO FINANCE CHARGES ACCRUE.

My account was paid in full as I received a letter stating that I had a ZERO BALANCE. Again, ZERO BALANCE means you owe ZERO or nothing. Paid in full. If it was not a ZERO BALANCE then I would have received a letter stating that I had finance charges pending to the account. CC Bank can continue to post finance charges daily and basically never allow your account to close if what your stating is true.

If you look up CC Bank on the internet it seems that this issue was addressed by a few State attorney General's offices and consumer advocate offices. It seems that when people tried to close their accounts they misled customers with the amounts owed , deliberately holding the accounts open so that they could charge more fees to these customers accounts.

Now; had I called to close the account and was told that I had money that I owed them or any outstanding balance during the month of August of 2005, I would have paid that amount. But I have a letter stating that I have a ZERO BALANCE and that my account was closed.
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#11 Consumer Suggestion

Question

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

I work for a credit card company, but not Cross Country. I ws just wondering if you had a cash advance or a balance tranfer on your account. Most companies charge those balances at a daily rate instead of a monthly rate. What that means is even though you had a zero balance after paid your bill off, at the end of the month the prorated finance charges can appear on your account. If I were you I would request that since your account is closed that they waive the remaining finance charges removed as a small balance write-off. Most companies would be more than happy to assist you unless your account had been in penaly pricing or you were late or over the limit in the last 12 months.
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#12 Consumer Suggestion

Question

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

I work for a credit card company, but not Cross Country. I ws just wondering if you had a cash advance or a balance tranfer on your account. Most companies charge those balances at a daily rate instead of a monthly rate. What that means is even though you had a zero balance after paid your bill off, at the end of the month the prorated finance charges can appear on your account. If I were you I would request that since your account is closed that they waive the remaining finance charges removed as a small balance write-off. Most companies would be more than happy to assist you unless your account had been in penaly pricing or you were late or over the limit in the last 12 months.
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#13 Consumer Suggestion

Question

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

I work for a credit card company, but not Cross Country. I ws just wondering if you had a cash advance or a balance tranfer on your account. Most companies charge those balances at a daily rate instead of a monthly rate. What that means is even though you had a zero balance after paid your bill off, at the end of the month the prorated finance charges can appear on your account. If I were you I would request that since your account is closed that they waive the remaining finance charges removed as a small balance write-off. Most companies would be more than happy to assist you unless your account had been in penaly pricing or you were late or over the limit in the last 12 months.
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#14 Consumer Suggestion

Question

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

I work for a credit card company, but not Cross Country. I ws just wondering if you had a cash advance or a balance tranfer on your account. Most companies charge those balances at a daily rate instead of a monthly rate. What that means is even though you had a zero balance after paid your bill off, at the end of the month the prorated finance charges can appear on your account. If I were you I would request that since your account is closed that they waive the remaining finance charges removed as a small balance write-off. Most companies would be more than happy to assist you unless your account had been in penaly pricing or you were late or over the limit in the last 12 months.
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