• Report: #613531

Complaint Review: RBC Bank (Credit Card)

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  • Submitted: Sat, June 12, 2010
  • Updated: Sat, June 12, 2010

  • Reported By: Kathy — Elizabeth City North Carolina United States of America
RBC Bank (Credit Card)
POB 2857, Rocky Mount, North Carolina United States of America

RBC Bank (Credit Card) Notice of high APR, Opt-Out by deadline, keep old, lower APR but account will be closed. Rocky Mount, North Carolina

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I received a notice of change from RBC Bank.  Their APR was increasing and if I wanted to opt-out of the new, higher APR, I had to call 888-257-6837 by Oct 1, 2009.  It also said that if I opt-out, my old, lower APR would remain the same, but, they would close
my account.

On Aug 9, 2009, I called to opt-out.  RBC's Sebastian said the new, higher apr was for new purchases only and he did not honor my opt-out.  Since then, I have received statements with much higher apr and higher minimum payment.  I talked with another RBC rep who told me that it was RBC's decision to honor the opt-out, or not.

I am now on collections for refusing to pay the much higher monthly payments.  Frankly, I couldn't pay them if I wanted to.  Rent and the electric bill and groceries would not be paid, if I paid RBC's APR and minimum payments.

The same opt-out was sent to me by Capital One and Chase.  I called by their deadline and now am paying the old, lower APR's and same minimum payments on their now closed accounts.

Until this happened, I had A-1 credit with RBC, always on time.

This report was posted on Ripoff Report on 06/12/2010 02:26 PM and is a permanent record located here: http://www.ripoffreport.com/r/RBC-Bank-Credit-Card/Rocky-Mount-North-Carolina-27801/RBC-Bank-Credit-Card-Notice-of-high-APR-Opt-Out-by-deadline-keep-old-lower-APR-but-a-613531. 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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