Report: #578863

Complaint Review: UBS Financial Services - Internet Internet

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Ripoff Report is Xcentric Ventures

Submitted: Fri, March 05, 2010
Updated: Fri, March 05, 2010
Reported By: Nick — New York New York United States of America

Author Not Confirmed

Why?

UBS Financial Services Internet United States of America

Phone: 18005701392
Web: onlineservices.ubs.com/
Category: Credit & Debt Services

UBS Financial Services UBS VISA Abusive practice. Increased my interest in current purchases to 30.24%! Worse than a pawn shop! Internet

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I failed to make a payment for a few hours because the UBS system was down (!!!) and UBS notified me that they would increase my interest rate from 8% to 30.24% for FUTURE purchases - or I could choose to close my account. I choose to remain with the bank because of this information.

And I just received my statement where they have applied this pawn shop interest rate to my CURRENT balance resulting in extravagant interest fees! This can literally kill a family. 30.24%!

I am a former UBS employee and I am ashamed to have worked there.

This report was posted on Ripoff Report on 03/05/2010 06:11 PM and is a permanent record located here: https://www.ripoffreport.com/reports/ubs-financial-services/internet/ubs-financial-services-ubs-visa-abusive-practice-increased-my-interest-in-current-purchas-578863. 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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