FNANB, A Wholly Owned Subsidary Of Circuit City Stores, Inc. ripoff fraudulent credit practices considers statements a "courtesy" unjustified negative credit reporting Richmond Virginia

FNANB, the bank owned by Circuit City which issues credit cards for Circuit City never sent a physical credit card over 5 months after account opened. Cost of a computer and accessories purchased at Circuit City was only balance on account. Statements sent for September and October, but not November and December. I subsequently did not notice the missing statements and did not make minimum payments for November and Decemeber. Received call from FNANB on Jan. 13--first call they made regarding overdue payment.

They informed me that I had been assessed two late charges of $29.00 apiece, my promotional interest rate was converted to a retroactive 26% APR and worst of all, I had already been negatively reported to the credit reporting agencies. When questioned about the missing statements, a manager in the customer service department told me that statements are a "courtesy" and that they did not have to provide proof that they actually sent any.

She told me that it was my responsibility to pay regardless of whether or not a statement was sent to me. She also would not change the negative reporting on my credit history despite the fact that I made full payment due on the same day they called me to alert me to the overdue payments.

The fact that, in a time of instant and easy communications such as email, FNANB did not contact me until after the two month period when their penalties take effect implies that FNANB actually hoped I would miss the payments so that they could financially benefit from a person such as myself who has an excellent credit history. Consumers beware!

Gregory
San Diego, California
U.S.A.