Union workers beware!
My husband is a NYC firefighter and the IAFF sponsors Union Plus. They advertised 3.90% on the lifetime of the balance for balance transfers up to $3,000 with no fees. I must have received 5 of these advertisements over the summer so I ended up transferring a $3,000 balance.
When I received my first statement, not only was the $3000 there but also a $75.00 Cash Fee finance charge AND a $35.00 over limit assessment charge! When I called I was told that because I took the offer of the full $3000, the $75. Fee added on took me over my limit and $35.00 was assessed. But wait, it gets better. Because I opened up the account in the middle of a payment period and another payment period had begun, I was assessed yet ANOTHER $35.00 fee!
When I told them I wanted to payoff and close the account, I was informed that all interest would be assessed for the last 28 days at the purchase interest rate of 13.24% and because the payoff takes 10 days to process, another 10 days worth of interest would be added.
All in all, to close the account, it would cost $3,265.
After 3 calls I got them to take off the two $35.00 fees and paid $1,000 to the account (a $15.00 over-the-phone processing fee).
I'll try to payoff the full amount the day I receive the next statement and just get out of this credit card hellhole!
False advertising, hidden fees and bad service are being pitched to union workers. Beware!!!
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