I have two credit cards from FCNB: one is a MasterCard which is a secure credit card, on which I have deposited $200 in order to get it, it has been with me for about two years, and I have been paying it without any delays, the other card is a SPIEGEL card, and I have been using it for about three years, I have been paying it with no delays, or any other problems.
Last month I received a letter from FCNB regarding the MasterCard, they said it is closed, and I must pay the remaining balance on a monthly basis, as usual. Also they said on this letter that their decision was based on a Business Problem they have and not because of my credit rating... (where is my $200 deposit? Where is my interest earned on this deposit?)
Today, I received a similar letter from the same bank, about my SPIEGEL Charge card, the account is closed because Spiegel has decided not to honor any card from FCNB...
I decided to come to the internet today, and search, just to find out what is going on with this FCNB bank, and here I am, with some other customers with the same problem!!!
My question is: is the FCNB in bankrupcy? Chapter 11? Should we pay?
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