Credit line of $12,300 recently split from Master card platnum account to cover issuance of American Express offered. After writing a convenience check for $3,000.00 to cover property taxes I realized it put me over the new, lower credit line of the reduced Master Card. I deposited the check on 12-11-05 (Sunday) and called 12-14-05 to see if the check had been refused (NSF).
After being placed on hold, I was assured that it had not come in yet. At that time I asked to transfer part of the credit line back to the Master Card to cover the check.
Again I was placed on hold, then assured that it could be done and proceeded with that process. After being placed on hold one more time, I was assured that there was no problem, that I had caught it in time and there wouldn't be any need to worry about it any more.
I have $35,000 of un-secured credit availible from other institutions and would have taken further action had I not been convinced that I had acted in time.
On Saturday the 17th, I went to the ATM at my bank which informed me that my account was placed "On Hold" due to a returned check that I had deposited on the 11th for $3,000.00.
The following day (sunday) I contacted my personal bank and had one of their Credit cards linked to my checking account to assure myself that future overdrafts would not occur. Unfortunately, when I called MBNA America next, all I was told was that they showed record of the transfered limit I initiated the 14th and a $3,000 check that had been returned NSF on the same day. They did remove the $39.00 charge against my account for over the limit. WOW! Then they said they could transfer the ammount to my checking account by wire. I specificly asked if it was a "real time" transaction. I was told "yes". I don't know what that meant to him, (stupid F%) but after he had me verbally authorize the transfer (recorded) he then said, "That should be in your checking account in four to six days."
Then the notices started showing up from my checking account. Now posted, the overdrafts stopped at the tune of $245.00.
I called to complain on 1-3-06, for what-ever good it would do, after being put on hold once to verify the limit transfer on the 14th, I was told that the check had been sent back on the 13th for NSF. That date changed to the 14th after I asked why I was lied to by someone at their Company and placed on hold again. He then told me regardless of the limit transfer, the check was written prior to the funds being availible and would have been returned anyway.
Why wasn't that information given when I was told not to worry and I still had time to avoid $245.00 in overdraft charges? I know that a supervisor must have been involved with all the "on-hold" "i'll have to verify that sir."
The lady helping me on the 14th was very nice, sorta like I got a kiss before they bent me over and stuck it to me.
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