I've been reading what has happened to others with Fleet Credit Card Services and although I have not had an active account with them for the past couple of years, I figured people interested in getting credit with them might like to know of my experiences with them.
In 1998, I was offered a Gold Mastercard through Household Bank. I read all of the information carefully and decided to get the card.
During the time I held the account, it was sold twice. Once to another bank and then to Fleet Credit Card Services. I had never had any problems with either Household Bank or the bank that immediately took over the account thereafter. When Fleet took over the account however, I had nothing but problems.
At the time that Fleet had taken over, I had only made one purchase for tires on my car for around $250. I would pay my bill every month and would always pay more than the minimum amount and made sure that my payment went out in the mail about a week before it was due. Unfortunately, no matter how much money was paid, or how early each payment was sent, my bill skyrocketed. When I looked at the statements, I found that Fleet was waiting until the day after the payment was due to credit my account and now my limit was decreasing on top of it all!
When I called Fleet, I was just told to send the payment out at least 5 business days prior to the due date. (But I already was!) The other thing that I couldn't understand is that the payment was only going from NY to DE! To comply (and to try to salvage my credit) I started sending payments out 2 weeks before they were due... Still, they were not credited to the account until the day after the payment was due.
By now, my $250 tires were now over $700 and that was with making $100 payments every month! Finally, my limit was dropped so low that the bill had gone over the limit (all with finance charges, late fees, etc. - I had not purchased anything except those tires!) Fleet sent me a letter telling me to cut up the card - that I had gone over the limit. I called to make sure who's attention to send the last payment to... I was told that I owed under $800 on the statement - the woman on the phone told me that I owed over $900 - I just sent the full amount that the woman told me on the phone just to get them off my back and considered it a lesson learned.
Next month, I get a statement showing that they owe me $14 - I called customer service asking about this - they told me if I wanted the $, I would have to send them a letter requesting it!!!
Now, my experience with Fleet is forever branded on my credit report as a blemish and a mark against me - it has now damaged my ability to get any other credit card to date.
Jennifer
Rochester, New York
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