Date: Sun, 14 Jun 2009 23:03:47 EDT
From: Janet
Subject: Your Minimum Payment is NOT Your Minimum Payment
Don’t you think First Citizens Bank has a good looking building at the Harris Teeter shopping center? I do and I also found out that the fake front facade extends inside the building.
FC websites use phrases such as “focusing on the needs of each individual customer;” and “pride in delivering superior service that consistently exceeds expectations and surpasses industry standard.”
The Board of Directors, past and current Presidents, confirm that it is a very successful family business. Good for them but not for us common folk.
If you have an out of state check to deposit, they will tell you it takes 10 days to clear. Actually, they are “floating” your money. Maybe 3 days is okay but not 10.
If you have a credit card, they will accept a charge over your limit, and then cancel it without notifying you. This happened to me while I was traveling for two weeks. I had no idea I was over the limit because the card accepted my charges. The bank has two numbers to call and immediate payment would have been made IF one small effort had been made.
When I went into the bank upon my return, I was told by a very silly ineffectual BlatherMan that “It is in my terms and conditions for me to pay the minimum payment and then the amount I am over the limit”. He was not listening. I was traveling!!!!!! After a call to the Credit Card Division which I insisted he make, it was confirmed that I had always paid on time, he then told ME to call them if I wanted to. So much for old-fashioned service.
When I called the Credit Card Division and asked for a Supervisor, her comment was “Why didn’t the man go to bat for you?” That is exactly what I wondered.
So, I wrote a letter to Ed Willingham, President. After too much time passed, I got a detailed letter from the Area Regional lady justifying their position. (My second certified letter crossed hers in the mail.)
In the meantime, because I had told the Credit Card Division during their daily dunning calls that I was not paying anything until I got an answer to my letter, I was nearing two payments behind.
It is the banks policy to report you to credit agencies when you are two payments behind. So,
1) They closed the card without notifying me while I was traveling = ding!
2) Because it took them so long to answer my letter, I was a near a second payment behind, actually, I don’t think I was late, but they reported it anyway = ding!
At my age, it probably doesn’t matter what my credit score is, but it does matter that these people think they can get away with such nonsense. I am closing my three accounts and considering marching in front of their building with a sign.
Hey, I have already “outed” myself. By the way, my SunTrust folks have always given me excellent service. What was I thinking when I thought about trying out First Citizens – a new old fashioned bank which “respects customers”. Silly me.
Lesson learned: According to BlatherMan:
Your minimum payment is NOT your minimum payment. You must pay what they note as “Minimum payment PLUS figure out how much you are over your limit to bring you UNDER your limit”. And, if you are traveling, say a prayer. Better yet; forget BlatherMan and First Citizens.
Janet