First National Bank of Marin is RIPPING OFF consumers by offering a Platinum credit card for a $39 application fee, then when the card arrives, and you call the 800-797-6534 number to activate it, they ask you to accept the terms of the Billing Rights document, then give you FRAUDULENT TERMS that were never in the original marketing or legal documents.
They claim the $400 fee, plus a bunch of other fees, were in the original marketing material. When I disputed this, she said, "Well, it was on the application form you submitted." NO IT WAS NOT! I would have made a front-and-back copy of the form if it had anything on it.
So basically, they are fraudulently taking advantage of people who are ready to activate their new Platinum Visa card. Someone not listening carefully as she rattles off the false charges, would inadvertantly accept the terms, as I did (until I asked her to read them back to me).
The bottom line is there was only about $28 credit available, and you would be on the hook for all the fees, plus process fees, plus interest, plus late fees, and ON, and ON, and ON!
I am reporting this to VISA as well. I don't know that Nevada even has an Attorneys General's office.
I was made an offer for an unsecured Platinum Visa from the First National Bank of Marin. (PO Box 98872, Las Vegas, NV 89193 tel. 877-825-3242).
The application had an intro letter and short application form, along with a "Billing Rights" statement of fees, etc. They asked for a $39 application fee, and would bill a $90 yearly fee in 12 month increments of $7.50 to your card. Not a bad deal, considering my credit got screwed up.
I got the card in the mail today, went to activate it, and rather than an automated system, a live person comes on and starts explaining all the fees, along with a $400 yearly fee and many other fees and disclosures.
She claimed these were outlined on the application material and form. I informed her that my app had no policies on the front or back(otherwise I would have made a copy of it before sending).
I told her I did not want the card. She said she would simply not activate it, and I would have to wait 14 days for the activation to expire and my account would be closed. I asked her about my original fee, and she said they would send it over 30 days after the 14 day period. She would not tell me when.
The $39 is one thing, but these people are commiting fraud against applicants. The fees are WELL over any credit limit they would give. She gave me two different stories on what my credit limit would be (the worst was $28, and the best was $47).
What a SCAM! Can you inform people of this? I think any bank or financial institution has an obligation for truthful disclosure BEFORE a card is applied for.