• Report: #613663
Complaint Review:


  • Submitted: Sun, June 13, 2010
  • Updated: Sun, June 13, 2010

  • Reported By: Bman — Philadelphia Pennsylvania United States of America
PO BOX 15019, Internet United States of America


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I have been working with Philadelphia Federal Credit Union for many years, and a few years ago they sold their credit services to FIA Credit Services (actually B of A). The rationale was that PFCU gave me notice and they expected me to have the knowledge about what it is I was getting into. I have contacted them repeatedly about my annoyance at being tied to a financial shark. I had a bad patch last year with a series of events that make me have difficulty paying my bills, and at one point I could not afford to eat and still paid FIA their blood money.  It was my way to show that I was being serious and gave as much money as I could to show my good faith. The way the system is set up is they want customers to fail and when they do they heap so many fees on them it makes it nearly impossible to catch up.

So I managed to land the equivalent of two extra jobs and was able to catch up on the payments. At one time the payment (in just fees for three months) was over $700! Now the fun part begins. During this time I received a late payment warning from FIA that a Penalty APR of 28.75% would be charged. My original APR was 11. 75% (up until June 2009) and with my financial difficulty my APR changed to 28.75% (starting July 2009). This credit card company demonstrated callousness when it did not accept my good faith payments as proof of my intention to honor my obligations when I could not afford to buy food. The new law states: If the cardholder triggers the default rate because of a 60-day delinquency, the bank must restore the lower rate once the cardholder makes 6 consecutive on-time payments. I made my payments and was conscientious - during this time THANKFULLY I did not use the card because unbeknownst to me they lowered my credit to less than half, refused to lower the amount in violation of the new law, and when I paid all money in full summery dropped my account.

This was their response after many letters were sent and their refusal to even consider taking me back to where I started. They cannot be contacted online. When I called they said we will not help me and their advice was that I ask a friend or family member for the money since they will not help me. When I was behind in payments they called me every hour on the hour even on Sunday. I gave up answering the telephone and took it off line. Just this week the final amount has been paid and I am sure they will squeeze more interest from me if they can. Where does someone begin to report something like this? I am a teacher with a teacher's salary and was trapped by them, and I know that many teachers' in unions are also attached to this noxious anti-American business entity. (Why cant teachers be paid well?) There must be a way to combat such a nasty fraudulent company when so many people depend upon them for some stability? I have been with the credit union for many years, in excess of 15, and was treated like garage to be tossed away.

This report was posted on Ripoff Report on 06/13/2010 12:20 AM and is a permanent record located here: http://www.ripoffreport.com/reports/fia-credit-services/internet/fia-credit-services-bank-of-america-nasty-practices-used-against-loyal-customers-internet-613663. 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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