Complaint / Review
Charter One Bank RBS Citizens, N.A
Fraudulent Late Payment Charge and 32% Interest Rate Hike

I was charged a late fee of $39.00 and 32% interest rate hike from my original permanent promotional 4.99%/5.99% interest rate— on my November Charter One credit card bill, for an account I've had for years now. The late fee and interest rate hike was eroneously charged, so I called the bank. They would only reverse the late fee, but would not return the interest rate to the original promotional rate, citing that the payment arrived 1-day late. The October bill had a due date of 10/13/08, I mailed my payment on 10/7/08, which they said had a postmark of 10/8/08, and arrived 10/14/08. I have a long history of on-time payments with this bank and know that I exercised reasonable and responsible judgement in paying the bill on time, as I do with all of my payments.

I have filed a complaint with the Office of the Comptroller of the Currency, because this bank has violated Regulation AA-FTC Act and Regulation Z-Truth in Lending Act.