My experience as a customer:
1. I received a credit card offer from Wachovia that boasted a 0% balance transfer and 7% fixed interest rate. I applied and was accepted. I transferred a healthy balance to my new Wachovia card. My fixed rate was closer to 9% but I was still happy.
2. I received a letter about the company switching to MBNA and was asked to pay via www.FIAcardservices.com. I was happy to oblige and paid on time every month. My statements continued to come in the mail monthly with the Wachovia logo and my credit card still said Wachovia. I was a happy Wachovia customer. MBNA? Who? It looks to me like I am with Wachovia.
3. I got married and changed my name - my new card came in the mail with the Wachovia logo. Your decision to go through MBNA didnt effect my life. Everything still had the Wachovia logo and I was happy.
4. I received a letter in the mail telling me to no longer pay to www.FIAcardservices.com. I sent in an actual check through the US mail service to the address on my statement. Then I went on a business trip and my card was denied. I had no money. I called Wachovia and they couldnt find my payment / transaction in the system. They transferred my call to another company - FIA card services (?). Then I was transferred back to Wachovia. No one could help me and I was told to just wait and watch out for my next statement. My card continued to not work. I was NOT happy. I was stuck with no money.
5. When I came home I could not log into www.FIAcardservices.com. I tried to log into wachoviacreditcard.com as directed but it would no longer recognize my username and password. I was very frustrated and couldnt figure out when my next payment was due, where I should send it OR if my last payment was ever received. I called and the recording said I would need to call Monday through Friday during the hours that I am at work. I would think there would be extended customer service hours while Wachovia was going through this transition.
The transition to and from MBNA (or FIA card services?) was very sloppy and disorganized. I received a statement on June 13 and was shocked to see that my APR was a whopping 13.99%! I just called today to ask for it to be lowered and was told that it had been increased to 19.99%!! There was zero correspondence about the 19.99% APR increase. I was told that the only way to lower this is to open another account! I was told that I had 2 or more late payments and that was the cause of the 19.99% APR increase. WACHOVIA: I was late because of your disorganization. Where was I supposed to send my payments!? I sent them to the address on my statement and you were not receiving them.
My Questions:
Why would I want to add another open account to my credit report? That hurts my credit score! Why would I want to start all over and go through this hell again with you?
Give me one good reason not to close my account. If I wanted a 19.99% APR then I can get that anywhere.
Why do I care that your business changed from MBNA to FIA Card Services to Wachovia? It seems to me like the plan was to do it seamlessly behind the scenes. Then you communicate that you are switching back from MBNA to Wachovia, arent clear on payment addresses, arent clear on new web passwords, dont answer your phones after 5pm and then jack up my rate to 19.99% and now somehow it is my problem that you switched companies? I have to pay the price (literally) for your disorganization?
No thanks.
I am a good loyal customer. I am a hard working responsible citizen. You spend millions of marketing dollars per year trying to acquire new customers just like me. You should be grateful to have me.instead you will likely lose me as a customer. It is a shame because I am pretty easy to please.
Wachovia has shown that they are a giant dinosaur and not in touch with their customers and their customers experiences. The company is too large and corporate to relate to me. For example, when I tell a rep about my experience with your company they give me options that are not desirable or viable for me.
Wachovia, no thanks - I will not open a new account with you to get a lower interest rate. Why would I if you have demonstrated that you cant handle my existing account? You have demonstrated that you are not capable of relating to me. You are not giving me satisfying service. Why would I want to sign up for more of this 19.99% APR abuse?
Millions of people are in credit card debt and really hurting. You are adding to the debt by increasing interest rates to 19.99% and hurting credit scores by asking people to open yet ANOTHER account under their name. This directly affects peoples lives: prevents them from getting a lower interest rate on other financing such as home loans. The decision to increase so many interest rates to 19.99% is greed. It also directly hurts the American economy, not to mention the fact that it attributes to the increase in poverty levels. It is unethical.
You have extracted (stolen?) enough money from me. I am giving you one last chance to lower my interest rate to 8.99% or I will transfer my balance and close this account and take my chances with another company.
How shameful-
Sally
Burlingame, California
U.S.A.
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