National City fraudulent rates on loan Cleveland Ohio

I called customer service at this bank to lock in a fixed rate on my home equity credit line. They quoted me a rate of 5.27% and a monthly payment of $215. When I got the bill, however, they had locked it in at 5.95% and a monthly payment of $231. Multiple calls to the customer service line and a meeting with the Assistant Vice President at my local branch office only resulted in double talk and runarounds.

First they told me that I was really only paying 5.27%, despite what the bill said. When I pulled up an Excel spreadsheet and ran the numbers for them, they admitted that I was being overcharged, but then said that the $215 was a misquote. They said they would reduce the payment to $224, but that it would take a while and in the meantime I must pay the overcharges.

This is the second time this has happened. In July 2003 I locked in part of my credit line at a rate that was quoted at 5.19% but ended up being 5.68% when I got the bill. At least back then they corrected the problem when I confronted them with it.

I have been a customer of this bank for 20 years, but no more!

Ron
Columbia Station, Ohio
U.S.A.