Credit Tips: Fleet Credit Card Interest Rate Hike

Posted On: March 1, 2005

Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 2:13 pm
Post subject: Fleet rate warning!

Jimmy Johnson
Date: 6/14/2000 11:26 pm CDT

After two years of having a competative % rate amd paying my bill on time, I was raised to a rate of 27%. I called and received a lame explaination that they mailed me information about this two months ago. I watch my % rates and believe me i did not see anything before this statement of a rate hike to 27%

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Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Thu Jan 13, 2005 2:14 pm

Scott Keaton
Date: 6/25/2000 2:59 pm CDT

I also got this same crap, I never recieved any notice and they bumped me up to 16.86% with lame excuse, refer to post

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Credit Tips: Fleet Credit Card Interest Rate Hike

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Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Tue Jan 11, 2005 11:41 pm
Post subject: BEWARE Fleet

Mike
Date: 8/30/2000 9:35 am CDT

Received an unsolicited offer for a 7.99% FIXED rate from Fleet less than a year ago. Current balance is under $2,000; balance is being paid down each month; every payment has been on time. Imagine our surprise at being informed our 7.99% rate was being increased to over 15%!!! Called customer service and was told we had an unfavorable rating on a credit report. I got a copy of the credit report and it was better than when they approved the card. When I cancelled the card the next statement had an interest rate of 27.94%. Their cardholder agreement is a consumers nightmare.

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Author: archive
Joined: 23 Jul 2004
Posts: 5007
Posted: Tue Jan 11, 2005 11:41 pm

JOE
Date: 9/8/2000 8:58 am CDT

I can certainly identify with your anger and frustration.
I’ve got a gold card with those weasels and here’s what they did to me. I managed to get talked into a three month free
trial of credit protection insurance. My next statement had
a charge on it for the insurance, so I called and cancelled the insurance. My interest rate was increased to 29.77% on the following statement, with a corresponding increase in the minimum payment. When I called and asked if my rate was increased because I cancelled the insurance, they said no.
When I asked the reason for the increase, they said they could not give that information out over the phone (even though they tell you everything else over the phone!) and would send a letter of explanation. When the letter eventually arrived (it took a couple of months), all it contained was a copy of the notice of policy change, not an explanation for the change. So I called again and was told that it was an insurance matter and was transferred to that company who in turn said to call fleet (ring-around-the-rosey!!). My next statement had another increase in the minimum payment!!
I’m afraid if I keep pressing the matter, they’ll demand payment in full. So I advise everyone to avoid Fleet Credit Card Services at all costs!!!

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