Credit Tips: Fleet Credit Card Company Complaints

Posted On: March 1, 2005

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:30 pm
Post subject: Fleet’s Low Fixed Rate Card is No More!

Cathy Winney
Date: 5/8/2000 5:16 pm CDT

Fleet Credit Card offers a “fixed Transfer rate of 7.99% on balance
transfers until paid off.”

The only problemwith this is that it is an out and out lie. Their initial
few months were at the ‘fixed’ rate. Then I receive a letter stating that
they aren’t making enough money so they are raising the rate to 9.5%
(variable) or 10.5% (fixed). Fixed? For how long??

When I contacted them about it I was told “We raised it because we wanted to
and there is nothing you can do about it.”

This organization gets “two thumbs down”.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:30 pm

Gingereeno
Date: 5/9/2000 4:30 pm CDT

I got the same thing!!! I have called Consumer Protection, they said call the state Attorney General. I called the state Attorney General, they said call State Dept of Finance, Then they told me to call the Federal Trade Commission. So, after talking and researching the information from the Federal Trade Commission, I was also told that as long as they notify you by mail 15 days prior, they can raise it as high as they WANT TO! I printed the Choosing and Using Credit Cards pamphlet from their site, it only addresses Variable Rates - which I know can change, that is why I chose a FIXED RATE. So, is anyone going to do anything about this false advertising? Who do we complain to, I am so frustrated. I wouldn’t even be throwing such a stink if they told me that my rate for any NEW purchases would be the increased rate, with my current balance staying at 7.99 till paid off. Where can I go for information governing FIXED rates? Thanks for any help you can give. I am really curious too, if they can just raise your rate any time, aren’t you really on a variable rate or can they raise your FIXED rate higher than a variable rate? You think you know what your rights are, but then you find out you have none. What a bummer to go with the rainy weather today.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:30 pm

Jessica
Date: 5/10/2000 1:48 pm CDT

Avoid them like the plague!!! As of June will starting imposing $35 fee and do not do their job in helping you resolve disputes with disreputable merchants. Just dump them if you have them!!!

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:31 pm

Board Monitor
Date: 5/15/2000 5:16 pm CDT

Gingereeno,

Thanks for your recent post! One place that you can complain is to the FTC (they have an online complaint form at www.ftc.gov) or to your state’s attorney general/consumer protection office. Hope this helps!

Regards,
Jackie Hughes
Baord Monitor
CardRatings.org

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:31 pm

Jim
Date: 5/18/2000 8:10 am CDT

I accessed this site to voice my frustration for Fleet. I just received a notice yesterday that they are going to amend my credit card agreement. I had enjoyed a fixed APR of 9.9% and now they are changing it to 18%! This is ridiculous! My credit is impeccable and this is they way they reward there customers. I called and recieved the same ridiculous statements specified above! I am so angry! I am going to change my card ASAP. I asked what does fixed rate mean and they replied,”it’s fixed until we feel it need to be adjusted.” However, they sited item 24 CHANGE IN TERMS and I new right there that I was they sucker. Is there any reputable companies out there that honer fixed rates??? Is this an acceptable jump in response to the fed hike? I don’t think so. Please tell me what you think? My Sicilian blood in boiling!!

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:31 pm

Gingereeno
Date: 5/18/2000 4:58 pm CDT

I have gotten a
response from FTC but they said they couldn’t help me, I need to write to
one of the following 4, Comptroller of the Currency or Board of Governors of
the Federal Reserve System or Office of Bank Customer Affairs, Federal
Deposit or Thrift Supervision, which I have decided since I can’t tell who
has jurisdiction, I may just write to all of them. Thank you for the
assistance.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:33 pm

Board Monitor
Date: 5/18/2000 5:06 pm CDT

I called Fleet yesterday and they said that the lowest “fixed rate” card that they are still offering is the Fleet Home Platinum Card…9.99%. However, given the fact that the Fed just bumped the Prime rate by a half of a percentage point and given Fleet’s recent practices, we suggest that consumers consider another card issuer for now. See our “Low Rate Report” for a current list of low rate cards.

Hope this helps!

Regards,
Jackie Hughes
Board Monitor
CardRatings.org

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:33 pm

Sheila Turner
Date: 5/18/2000 5:41 pm CDT

I found your site through Lycos search for credit card comparisons. I’m very happy
this site exists. I’ve had credit cards for a while, but was always
quite passive, until recently. Fleet credit card just sent me a notice
that they were raising my rates, because “the Federal Reserve. . . was
making it difficult for [them] and all credit card issuers to maintain
products and services at current rates.” I had only had an account with
them 6 months and my account was always in good standing. I was
offended and decided to look for another card. Your site has been most
helpful thus far. Hope you can use this information, and I would be
very appreciative of any free offers. Thanks.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:33 pm

John Pachai, Jr
Date: 5/19/2000 8:08 pm CDT

Clearly the phrase “Fixed Rate” is grossly misleading. Hasn’t any group tried a class action suit against Fleet for this practice.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:33 pm

Jim
Date: 5/20/2000 12:25 am CDT

Jackie,

Thank you for you response. It is comforting that we finally have an organization that is finally on the consumer’s side. I now know that I am not alone in regards to Fleet. Does the rate increase I stated above (9.9% to 18%) seem overboard to you in relation to other cc companies? I also looked at your recommended list of credit cards and went on the Capitol One site. It looks (and I now know looks can be deceiving)like a pretty good deal. 0% unitl October for Platinum + and then “fixed” at 9.9%. Given the repurcussion from the fed hike, do you know if this offer is still legit? Also, it did not specify the rate on balance transfers only the fixed rate on 9.9% after October 1st. Do you happen to know the rate on the initial transfer? Again thank you for all of your information. Iam spreading the word on such a useful site!

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:34 pm

Board Monitor
Date: 5/20/2000 12:38 am CDT

Jim,

The Capital One offer is definitely legit. Historically, they have had one of the lowest rate cards in the country. However, onsidering the Fed just bumped the Prime Rate by .50%, there is no guarantee that they will not eventually raise their rates. I would be surprised if they raised their rates in the short term, though.

As for your balance transfer question…the 0% offer only applies to purchases, not transfers. The transfer rate isintially 9.9% and will remain 9.9% after the introductory period.

Hope this helps!

Regards,
Curtis Arnold
PR Director
CardRatings.org

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 3:34 pm

Kat
Date: 10/16/2000 9:24 pm CDT

I am sorry to see that Fleet is doing this to other people too. But also relieved that I am not crazy for seeing this as a problem. I had a card with them at 7.99 and two months ago they raised it to 10.99 because of interest rates going up. They also raised my credit limit and said I was a great customer. I received my bill with no other letter in between with a 18.99 interest rate. When I called to ask what happened. They told me they checked my cedit rating and it was not good so they bumped it up. I was furious. I thought someone messed up my credit. I found out that was a lie. They had not checked my credit lately and my credit raing was fine. They told me I could dispute it. But they would lower it to 17.99 for me. I have paid them off but I can’t believe that they can get away with doing that. Can they raise the limit like that?

View our latest credit card ratings!

Credit Tips: Fleet Credit Card Company Complaints

Posted On:

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 12:47 am
Post subject: Fleet Sucks

crg
Date: 7/24/2000 1:44 pm CDT

I doubt that my Fleet stories will be much different than many others, so I will not bore anyone with the details.

However, I would appreciate advice on some issues I anticipate as my dispute with the swine at Fleet continues. First of all, I am so pissed at these vultures that if they will not adjust my account to fix a legitimate dispute, then I will refuse to pay them a dime. Several attempts at remedying the situation have gotten nowhere. I will not negotiate a settlement, and I will not pay the fees that I do not owe.

Next step, and here is where I need advice. When will the account be sold into collections? If any collection agency does its due diligence, it would not touch my account. Does anyone know who the major collection agencies are that Fleet would sell to?

If there are other places to vent about Fleet, please let me know.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 12:47 am

B
Date: 7/26/2000 12:33 am CDT

I’m sorry I can’t give you a link but just wanted to let you know I despise Fleet Bank as much as you do. Their credit card service is so awful there is a website dedicated to it: fleetbankuserbeware.com Currently it appears they’re just collected horror stories like ours.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 12:48 am

Pat
Date: 7/29/2000 1:57 pm CDT

PLEASE, PLEASE, PLEASE, go to the Federal Trade Commission’s homepage to read the Fair Billing Infor, and file a complaint. If you have disputed something in writing, it is against the law for them to do anything to your credit rating until it has been resolved. They are a very dishonest company who I believe are using deceptive business practices.

View our latest credit card ratings!

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 12:48 am

JOE
Date: 9/8/2000 10:45 am CDT

I have been robbed by those weasels also and I did indeed file a complaint with the FTC. Their response was that they only give a rats ***** if it’s a case of discrimination, and refer you to a bank regulatory agency. I have the feeling that talking to the wall will undoubtedly be more productive.

View our latest credit card ratings!