I was once employed by FCNB. Many of the complaints against this company are unfounded. There have been many times that the original account agreement or initial account disclosure would end any argument. Many people just do not read these documents. The annual fee is non refundable. It is clear when the late fee and overlimit fees happen and for how much. When payments will post are also included in these documents, as well as the back of each statement. Of course, that said, we come to the real crux of the issue.
I believe FCNB knew what it was doing when it originally opened. This company sought out people who had poor credit or recently went through a bankruptcy offering a "second chance." I'm sure management knew full well that these people would not change their ways and get back into debt...but this time with us. For example, we would offer a secured mastercard for $100...then charge a $69 annual fee. So, you only had $31 dollars to spend, and most people would think that they had $100. I admit it is pretty unfair, but legally, it is disclosed.
Management always did it's best to protect employees, but the decisions it would make, the lack of planning, lack of communication with our affiliates, and failure to see the backlash of certain decisions on the employees wore down morale among the 'troops.' I left about 6 months before the bank closed, and the amount of calls that the bank was receiving after I left due to poor management was extremely hard on the employees. It's very hard to listen to people scream at you when you had nothing to do with the problem. For a time, the senior account specialists had basically the same power as a new rep off the street. The only thing we had was experience, which customers don't care about...they just want it fixed.
I have a certain amount of fondness for the bank. It treated me well (for the most part), paid me well and I enjoyed the work. This job was the longest I had been at any job. There were many errors made along the way, which every company will experience at one time or another. I believe our first mistake was recruiting consumers with poor credit. Certainly we were legally protected by including all the necessary literature to inform the clients, but we were probably also aware that they wouldn't read it. I can only say that what the bank did and how it treated customers was at times very unfair...but legal.
I imagine that there are some compensation in order due to the bank closure. I'm not exactly sure what that would be legally. Everyone has the right to be outraged. Many of you were at some time or another treated unfairly.
My advise to you in the future is to read everything. Large companies are very good at protecting themselves with complicated verbiage and long contracts. To read everything and waste the guy's time waiting for your signatures is a great way to frustrate management...at least a little.
Ask lot's of questions, too. For example, I had bought a car recently, and had to sign four different places, initial here and there, etc. I had just a great time reading everything and asking a lot of questions. I felt very well informed, plus I was taking time from these people who could make quicker money from less concerned buyers. Plus, if you really want to frustrate them, spend all the time you want scrutinizing the documents, then at the last minute, change your mind and walk out. First, they will have wasted all that time and energy with nothing to show for it. Second, they may try to bring you back in with a better deal: win win?
There are many things you can do to frustrate corporate america. But, there is only one way to bring them down: don't use their products. Pay with cash always. Never pay high interest, or if at all possible, don't pay any interest. Don't buy new. Shop around, then shop around more, then some more. Honestly, you won't bring down the titans with lawsuits, you'll bring down the titans with information and education and ultimately abstinance. "Great storms are announced with a breeze."
Granted, you will do what you like, but it's good to hear many sides of the issue. Good luck, take care and God bless.
U.S.A. Click here to read other Rip Off Reports on First Consumers National Bank FCNB