• Report: #96669

Complaint Review: Fleet Credit Card Services

  • Submitted: Sun, June 27, 2004
  • Updated: Tue, October 12, 2004

  • Reported By:Omaha Nebraska
Fleet Credit Card Services
POB 151122 Wilmington, Delaware U.S.A.

Fleet Credit Card Services - USA Bank Of America Erroneous rate increases, over-the-limit charges, false credit reporting information ripoff Wilmington Delaware

*UPDATE Employee: Here to Help

*Author of original report: Response to Rebuttal

*UPDATE Employee: Increased APR...for the protection of the bank

*UPDATE Employee: Overlimit and Late Payment Fees

*UPDATE Employee: Overlimit and Late Payment Fees

*UPDATE Employee: Overlimit and Late Payment Fees

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I joined Fleet in the beginning of the year 2002. At the time they offered an introductory rate of 0% for six months, and I took advantage. Shortly after this rate ended, they began charging me over-the-limit fees on my card (a couple of months in a row), even though I was between $50 and $75 below my limit when the statement closed.

I would pay my bill on the 1st day it was posted on the internet, and in the NEXT billing statement, would get an over-the-limit fee for the PREVIOUS month. They explained finance charges put me over my limit---THEIR CHARGES PUT ME OVER THEIR LIMIT!!! After this happened twice, I broke, and paid $250-$300 per month on the account, to ensure they could not charge me such fees. I began to receive letters (after NEVER being late for a SINGLE payment and always paying over the minimum on ALL my accounts) that stated that after a review of my credit report (which has not changed in the last 4 years-upper mid, low risk, mid 700's), they were raising my interest rate 4%, to 15.99%, and then ANOTHER letter a month later stating the same, except raising it to 16.99%!! I called and inquired, and no one could tell me why. I mentioned I was in college--and they told me maybe that was why!! Huh??

I wrote a letter and cancelled the account, and also included some words of how I knew they had many legal actions against them at the time--even w/o the problems, I no longer wanted to deal with a company w/ so many class action lawsuits against them... Months later, I checked my credit report again, and it said that FLEET cancelled my account, not ME!!!! This is outrageous, and I even saved the letter they sent which varified that I cancelled the account!!!

I don't know if it makes much of a difference on my credit report, but I have my pride, and continue to have to pay 15.99% (since I didn't send the letter in time to stop the first rate increase)on the remaining balance.

I am starting law school in 2 months, and one of my major extracurricular goals while in school and thereafter is to go after this company and find EVERY single illegal action they have taken, and find ways to hold them liable.

I RECOMMEND CITIBANK, to anyone wondering with whom to get a credit card (if you must). They have always treated me very fairly, and are quite honest about their actions and policies.

Nicki
Omaha, Nebraska
U.S.A.

This report was posted on Ripoff Report on 06/27/2004 05:33 PM and is a permanent record located here: http://www.ripoffreport.com/r/Fleet-Credit-Card-Services/Wilmington-Delaware-19850/Fleet-Credit-Card-Services-USA-Bank-Of-America-Erroneous-rate-increases-over-the-limit-96669. 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 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

Here to Help

AUTHOR: Brent Reynolds - (U.S.A.)

Nicki,

I am a manager with Fleet Credit Card Services and I, also, would like to thank you for bringing this to our attention. I am very sorry about your previous experiences with our company and I assure you that it is our goal to provide outstanding customer service, every time. Currently BofA does not have access to our accounts (our systems have not completely merged), but I would like to help in anyway possible.

Of course, I don't have access to your information without proper verification. Therefore, if you could contact me directly, I would be happy to re-review your account, to see if we could reach a resolution that will meet or even exceed your expectations.

Thanks, for the feedback!

CS & Support Team Manager
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#2 Author of original report

Response to Rebuttal

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

Thank you, Debbie, for your interest in my credit card woes with Fleet. I am very happy to know there are employees with Bank of America that care about what happens to clients--B of A actually keeps sending me offers for financing for law school....I may even look into them now!!

The suggestions you made above about keeping a cushion amount available on your credit card were excercised, but I simply was unaware of the exact amount of finance charges--they were not comparable each month. Also, I check my credit every 6 months-it has not changed in four years.

I don't know what happened, but I will definitely call when the merger is finished. Otherwise, a law loan with APR's of 7% or lower MAY be an option.... I have quite good credit for my age. Thank again--you've left a lasting impression (a good one)!
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#3 UPDATE Employee

Increased APR...for the protection of the bank

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

I was quick to respond in the name of Bank of America, when actually Nicki's concern is in regards to Fleet-Boston card services. Fleet is still in the process of merging with Bank of America. In this case, I would like make a general statement about increased APR once again. I would like to make future customers aware of the reasons why credit cards have overlimit fees and increased APRs.

Mainly this is for the protection of the bank itself of course and most all banks and individual credit cards will do this. They periodically run a credit history report on the individual and if their score drops under a certain limit then they'll receive a letter of notification. This letter states simply that the customer may opt-out of their new terms and disclosures/APR.

If they don't, then their APR increases. Fleet did it and so does Bank of America. I strongly urge customers to read any letter that might be attached to their credit card statement. ALWAYS READ YOUR TERMS AND DISCLOSURES TOO! I am not sure what Fleet's policies were in regards to negotiations about APR's, but with Bank of America, we're able to bring our customer's APR back down to what it used to be if the credit score meets a certain score requirement.

As for the issue about overlimit fees, I would like to address that briefly because that is pretty much cut and dry. Late payment fees and/or finance charges can bring a customer over their limit. I always advise my customers who call in to always leave some room for their finance/interest charges if they happen to be close to their credit limit, and of course always make your payment on time because if you're late one day past your due date then their is no grace period and that fee will hit. Your grace period is basically your "cycle" date to your "due" date.

As for Nicki, I want to thank you for bringing this issue up and I strongly urge that you try to negotiate your APR with Bank of America once the merger is complete between Fleet and B of A. The expected completion of the merger will be in Sept. - Oct. 2004. Bank of America is an excellent company to work for as an employee and I am a customer myself. They are wonderful people.
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#4 UPDATE Employee

Overlimit and Late Payment Fees

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

Hi,

I am an employee of Bank of America credit card services and I ran across this complaint on the web and was concerned for our customer. Most of the time, what happens is the customer will sign up for a credit card with B of A, never reading the terms and conditions. I don't really blame them because it's a bunch of small print and seems like a waste of time, but that is where the crucial information is when it comes to such things as increased APR for example.

I'd like to sincerely apologize on behalf of Bank of America for the reason that we weren't able to resolve this issue amicably over the phone. Our goals for Bank of America are bottom line goals in interest of our customers. The "customer is the bottom line" and this is our new approach within the bank. This is a fairly new approach and has proven to be ultimately satisfying to the customer, as well as everyone who is working for the bank. I would strongly recommend that she call me directly if need be to resolve this issue and we'd make every attempt to take care of her situation.

Thank you!
Debbie Flynn - Bank of America Card Services
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#5 UPDATE Employee

Overlimit and Late Payment Fees

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

Hi,

I am an employee of Bank of America credit card services and I ran across this complaint on the web and was concerned for our customer. Most of the time, what happens is the customer will sign up for a credit card with B of A, never reading the terms and conditions. I don't really blame them because it's a bunch of small print and seems like a waste of time, but that is where the crucial information is when it comes to such things as increased APR for example.

I'd like to sincerely apologize on behalf of Bank of America for the reason that we weren't able to resolve this issue amicably over the phone. Our goals for Bank of America are bottom line goals in interest of our customers. The "customer is the bottom line" and this is our new approach within the bank. This is a fairly new approach and has proven to be ultimately satisfying to the customer, as well as everyone who is working for the bank. I would strongly recommend that she call me directly if need be to resolve this issue and we'd make every attempt to take care of her situation.

Thank you!
Debbie Flynn - Bank of America Card Services
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#6 UPDATE Employee

Overlimit and Late Payment Fees

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

Hi,

I am an employee of Bank of America credit card services and I ran across this complaint on the web and was concerned for our customer. Most of the time, what happens is the customer will sign up for a credit card with B of A, never reading the terms and conditions. I don't really blame them because it's a bunch of small print and seems like a waste of time, but that is where the crucial information is when it comes to such things as increased APR for example.

I'd like to sincerely apologize on behalf of Bank of America for the reason that we weren't able to resolve this issue amicably over the phone. Our goals for Bank of America are bottom line goals in interest of our customers. The "customer is the bottom line" and this is our new approach within the bank. This is a fairly new approach and has proven to be ultimately satisfying to the customer, as well as everyone who is working for the bank. I would strongly recommend that she call me directly if need be to resolve this issue and we'd make every attempt to take care of her situation.

Thank you!
Debbie Flynn - Bank of America Card Services
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