I sent net 1st national bank a 99$ processing fee to obtain a mastercard. 3 months later I found out the company has been shut down. To make matters worse my credit limit was determined by how much money I had in their account, which at the time of their closing was between 300-400$. I've been told by the FDIC that I will get my money back including the reservation fee. It is still very inconvienient to have my money tied up this way and I made no progress in building a credit history.
James
Lincoln, New Hampshire
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