I've had an account with First National Bank of Omaha for several years now, and as a result of my previous marriage, incurred quite a lot of debt and high balances on all of my credit cards, including the one from FNBO. During the course of my history with the company, they increased my initial credit limit to 2,000.00 from the previous limit of 1,000. Over the years I used the card, and as a result of my problems, maxed the card out. There was a two month stretch in 2004 when I was having trouble making payments on ALL of my credit cards, and as a result my credit was cut off by FNBO (understandable, mind you. I was not upset about that).
Over the next two years I have lowered the balance on this particular credit card from 2,000 to about 1,000, making no more late payments since my previous problems. When I got the balance down to about 1,350, I received a letter from FNBO stating that my credit limit was being reduced to 1,400 due to issues with my credit score. Now, keep in mind, my credit priviledges had already been revoked, so any reduction in limit is arbitrary at this point.
Since my problems in I had been able to bring my credit score up by about 65 points... But as a result of that reduction, my credit score actually dropped again by ten points... Since it reduces the ratio of available credit (according to the FICO scoring system, they don't see my account with FNBO as "cut off" because it is open, not closed). I saw this as an attack on me personally, and was a tactic for their own personal gains. I've noticed that FNBO has been having difficulty with the law lately... And am sure now that their tactics are panic measures to squeeze whatever money they can out of people who have questionable credit. They feel we're a sure bet since we may or may not pay late sometimes... And may or may not have low credit scores.
They've messed with the wrong chickie, though. I'm not only paying off my credit cards by more than 200 dollars every month, but I have not made late payments in SEVERAL months... With the exception of the kinds of postal snafus that seem to be happening more and more lately with credit cards.
Which brings me to the title of this article. My latest run-in with FNBO.
I recently sent $100 to the card (in an effort to pay them off, I have been sending the minimum plus the finance charges and rounding up to the nearest hundred) and more than a week later, coincidentally on the DUE DATE of the bill, the money came out of my checking account. I called the automated balance system at FNBO and learned that my account had not yet been credited for that 100 dollars. Knowing that credit card companies sort of HAVE to credit you when they receive the payment, not AFTER they've cashed the check, I became a little suspicious, but decided to speak to a representative to see if there was simply some update in their computer system pending.
The operator said that they had no record of ever receiving a check from me and ALWAYS credit the account before depositing checks. She let slip that they had to do it that way legally. I told her that the check had already clearly been cashed, and she said that was impossible and that I'd need to have my bank fax over proof. She gave me the fax number and I told her since it was after five I'd have to call my bank the next day and could she guarantee that no fees would be given? She said that if I give sufficient proof, the fees will be taken off.
After reading previous complaints on the company, I have a feeling that I'm going to be charged after all...
Incidentally, the following morning I checked their automated system. And the money WAS credited to me... 24 hours AFTER the money came out... 24 hours AFTER my due date had passed. They've also prevented me from paying my bill online to save myself any more postal problems... But at that I'm not surprised at all.
Linette
Salem, Massachusetts
U.S.A.
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