To Anyone Willing To Help:
I have been with Salute Visa for two years. I have been faithful with payments often paying off my balance 2 or 3 times a month. I have also been set up with Automatic Payments to be deducted from my checking on the 24th of every month.
Today, October 30th, I was checking my account online and noticed I no longer had a credit limit. After checking my payment history I noticed an automatic deduction had not been taken for the month of September but a payment was take for October. When I called customer services to address the issue they told me that my services had been suspended and the account had been closed due to an occurrence of being over the limit. Furthermore, they stated that this was a "New Policy" and Urban Trust Bank reviewed my account and closed it based on being over my limit by $48.00 which would have been covered had they automatically deducted my $150.00 that I had set up as my minimum payment.
They tried to tell me that I only had to pay $4.95 in September and when I made a purchase on the 28th of September it put me over the limit. I tried to inform them that my monthly minimum is preset for $150.00 and even though I made a purchase on the 28th my payment on the 24th would have covered the purchase. Nonetheless, they proceeded to argue with me and each and every time I proved my point they replied, "I am sorry but it was the banks decision to close your account"!!!
I am very upset and livid. I have never in my life heard of an financial institution closing an account on a customer who pays on time, pays off balances, pays more then the minimum payment, pays more then 1 x a month and has always complied by the terms and conditions. If they were planning on making changes to the policy, I should have received notification only to avoid this ridiculous situation. Now, are they going to report this to my credit report? How can they possibly get away with this kind of business? What can I do beside notify the Better Business Bureau? I have read many blogs stating how Salute Credit Card Services and Urban Trust Bank have continued to rip off SOOOOOOOOO many innocent people and stolen their money. They do not send any written notification before closing the account but they sure do continue to deduct payments from your bank account.
Fortunately for me, when my annual fee came around they increased my limit. I read another story where they assessed the annual fee, and later Salute closed the account because the person was over the limit. AMAZING!!!
I feel like they are fraudulently misrepresenting the services and taking advantage of their customers. I want to know if there is any legal remedy to this financial assault.
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