- Report: #72434
Report - Rebuttal - Arbitrate
Complaint Review: Fleet Credit Card Services
Fleet Credit Card Serviceswww.fleet.com Boston, Massachusetts U.S.A.
Fleet Credit Card Services Raised interest rate by several percent Boston Massachusetts
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On a related note, the Fleet Rewards program has gotten stingier. The program is similar to a cash-back program, except you accumulate points per transaction. You get one point for every dollar charged for a purchase. It used to be that 100 points equaled one dollar on a gift certificate card that you could redeem with enough points. However, looking at the most recent catalog, the ratio is now 100 points gets 80 cents worth of gift card. And anything else, like phones, radios, etc., is nowhere near the value implicit in the gift card, even now. Good thing I read the fine print, and redeemed a Sports Authority Gift Card while the ratio was still more favorable. If I recall, the terms could be changed by the company at any time with 30 days of notice. You could even lose all your accumulated points if that was what the company decided.
I really don't expect any action to be taken on my behalf, since I've already created my own resolution to the issue. I'm simply stating what happens in the credit card industry, and what has happened to me specifically, for informational purposes. As they say, "Caveat emptor", or let the buyer beware. It holds even more true for borrowers, I've been finding out.
This report was posted on Ripoff Report on 11/19/2003 10:55 AM and is a permanent record located here: http://www.ripoffreport.com/r/Fleet-Credit-Card-Services/Boston-Massachusetts/Fleet-Credit-Card-Services-Raised-interest-rate-by-several-percent-Boston-Massachusetts-72434. 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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