Complaint / Review
Cross Country Bank
Ripoff deception adds fees and charges without reason or notice, DE

Office Of The State Bank Commissioner
State of Delaware
555 East Loockerman Street, Suite 210
Dover, DE 19901

Dear Sir / Madam,

I would like to bring to your attention, and question the legality, of recent actions taken by my credit card company.

The credit card in question belongs to Cross Country Bank, from Delaware. I have had the card for over five years and this past December I renewed the card for another year paying the annual fee of $ 50.00.

Recently, I received a letter from Cross Country stating that changes affecting my credit card interest rate, over the limit and late payment fees and other charges would be introduced starting on March 1. The letter also stated that if I disagree with the changes I must close my account.

While I understand that some of these changes are normal, I have difficulty accepting one particular charge and its timing. Starting March 1, Cross Country instituted a membership fee of $ 72.00, which will be charged at the rate of $ 6.00 per month. Ironically, this charge is being introduced only a couple of months after I renewed the card.

It seems to me that once you paid your annual fee and renewed the card, the binding agreement between the credit card issuer and the its holder is renewed. Any drastic changes should be announced at the time of renewal so that consumers could make an educated decision. Credit card companies seem to be free to change the rules of the game during the game and Cross Country relishes in this loophole.

The typical consumers only option is to cancel the card, but this is a small remedy after having just paid a steep annual fee to renew the card as the name implies for another year. The irony is that if I knew that the Cross Country would increase and create new fees, I would not have renewed the card and simply closed the account in December.

Adding insult to injury and very indicative of the way Cross Country conduct its business, the company mailed the notices just a few days before the changes were to have taken effect. I received the notice on February 27th having only one day to make my decision.

I respectfully request your time and attention reviewing the institution of membership fees and similar unfair practices being used not only by Cross Country Bank, but by other companies in the industry as well. Please dont hesitate to contact me if you require further information or documentation.

Sincerely