National City Bank
Unethical practices

Business & Finance

My husband and I refinanced our home in Nov. 06 and took out a line of credit with National City. We never used even half of it and paid most of it off when a business deal we used it for was finished. We currently have less than $30,000 on it and have never been late with a payment and have always paid much more than due. We have A credit - we got a letter on April 28 that was dated April 23. They said that they have closed our line of credit because their automated system said our house decreased in value from $435,000 to $386,500. No warning - our only credit cards are linked to this loc. We paid closing costs of a couple thousand dollars (normal fees) for a loc that we only used 18 months.

That is annoying and wrong I think - but it gets better. The letter also said that any charges against the loc made after TWO days of letter date (23rd) would not be honored. So... From the 25th on, National City would not honor any charges we made. But, we didn't get the letter until the 28th so that means that there are gas charges, a payment to pay off a small balance on a previous card, etc. Are being refused! Now I have to do damage control.

And the best part is today I get my statement from them for May and they have charged me a $30.00 fee for a check they refused! I am so angry that I can't even begin to figure out what we are going to do. We all know who wins when you sue - usually legal fees make it not worth it but I am tempted.

Do NOT use National City whatever you do - we are researching the banking regulatory thing but who knows…


Company: National City Bank
Country: USA
Site: nationalcity.com
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