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Why I Hate Banks....My Rant
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aspencounty



Posts: 815

PostPosted: Fri May 01, 2009 5:25 pm    Post subject: Why I Hate Banks....My Rant Reply with quote

I hope this is the appropriate place to post this.I feel the need to vent so hope you guys will indulge me.

I have never had a lot of love for the big banks and credit card companies but this pushed me over the edge.

Here's the deal. I have a c/c that I use mostly for online purchases. I normally keep a low balance and try to pay the balance off each month. This particular card was issue by one of the major banks and I've had it for years and have never been late on a payment.

I don't know the details but apparently my account was bought or transferred to another bank last month. No big deal I'm thinking. Now I have used their paperless statement for sometime and just pay online. Well, when my payment was coming due I logged on the site as usual and low and behold the site was down, none of the links worked and I was unable to make my payment. Ok, no biggie, I have a few days, I'll check back later. To make a long story short, the original bank's site was down and I had no way to make my payment...see, I don't receive a paper statement in the mail.

Well, my payment date came and I figured I needed to do something so I used their customer service phone number(s). After dialing a dozen different numbers, listening to the computer generated canned responses, pushing 1,2,3,4,5,6,7,8,9,0 and half the darn alphabet for over half an hour I finally got to talk with a real live person....from a foreign outsourced call center. I tried to explain my situation to the rep. He put me on hold for what seemed like forever and finally told me I could pay by phone BUT it would cost me $9.00. What? Your charging me 9 bucks to pay my bill? Yes he said plus your payment is late and there's is an additional $39.00 late fee. I realized it wasn't doing any good trying to explain things to the phone rep and sure didn't feel like trying the phone numbers again so I paid the minimum payment, figuring I'd straighten things out later.

Brothers and sisters, I say a guy should get break. I tried to pay my bill just like I have for years. It isn't my fault these banks changed things up and the websites changed and didn't work.

A few days ago I got my first statement in the mail from the "new" bank welcoming aboard.Well sure enough my statement showed the late fee and the $9.00 it cost to pay my bill plus I noticed my interest rate had nearly doubled...no doubt because I'm a delinquent payer.

I took the statement from my brand new bank, wrote a check for the full amount of my balance, cut the card in to tiny pieces and included a friendly note, telling them how grateful I was. I told them how I was sure that they needed the late fees and the $9.00 charge much, much more than me and would they kindly cancel my new account and please stick the whole thing where the sun doesn't shine.

You guys every have something like this happen ? It's sad because most of use and need credit and a credit card but I swear it just nuts how "they" are allowed to get away with stuff like this.

Anyway, thanks for listening. I feel much better now. Very Happy
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MaggietheCatsMeows



Posts: 2799

PostPosted: Fri May 01, 2009 7:11 pm    Post subject: Reply with quote

If you want sympathy, don't expect it from the bank.

The last time I bought a car, it was a spur of the moment purchase and I spread it out over 3 credit cards since I needed a car and didn't have the full amount in any one bank. When it came time to pay the bills I went to the bank that held my Visa card. I was 2 days early, had cash in my purse and handed it to the branch where I had opened my account.

Next month I get charged interest and late fees for 1/3 of an automobile. Visa here is the only card that does that something I didn't know before. Another bank I have a Visa with is even worse. They need a week to process a cash payment made at the issuing bank counter. I no longer use Visa anywhere.

When I used to teach, our June checks included July and August paychecks so it was a hefty amount I took to the bank. (To you young people there was a time when you got a check and had to take it into the bank to be deposited or cashed.) So I hand my check to the teller, with slips made out to put June portion in my checking account and the balance in my savings account. She said I did it wrong and rewrote the slips and handed me the receipts. I didn't check them.

July 5 first I get a phone call from my rental agent. My rent check had bounced. Then the phone was cut off which probably kept me from getting nasty phone calls from other utilities. I went to the bank. The teller had put all the money in my savings account and so all my checks written in June and early July bounced. Was the bank responsible for the hundreds of $ of penalties and fees I incurred? Not for one penny. I had the receipts and if I had checked them I would have noticed the teller had made an error.

Do I feel your pain? You betcha!!
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Periwinkles



Posts: 2908

PostPosted: Fri May 01, 2009 7:22 pm    Post subject: Reply with quote

I read an article a while back that the banks and credit card companies don't want people with small balances so they are going to add on all kind of interest and change the minimum amounts you can have. I don't remember what all it pertained to but I emailed it to my daughter as she uses credit cards with 0 interest. They were also going to start charging interest on those type of accounts too. The banks don't want anyone using credit who doesn't make it worth their time.
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MaggietheCatsMeows



Posts: 2799

PostPosted: Fri May 01, 2009 7:27 pm    Post subject: Reply with quote

What they really don't want are people who pay off their balance every month. I've had two cards canceled recently because I don't use them.
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aspencounty



Posts: 815

PostPosted: Fri May 01, 2009 8:36 pm    Post subject: Reply with quote

I don't know. It just seems sad that banks can build in these fees and charges and the consumer has little recourse.... it's BIG business as usual I guess . You are so right.It's certainly rare if ever, even if it their fault, that they will rule in your favor.

Oh and another thing since I'm venting. Does anyone anywhere understand their telephone bill??? I was looking at mine and was completely flabbergasted at the three pages of taxes and fees for what seemed like everything under the sun. It's absolutely impossible to figure that junk out or make an sense of it.

If there are any AT&T employees here that can explain all the fees and taxes in a way I can understand, I'll buy you a steak dinner. Wink
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SheilaDeesPostcards



Posts: 3982

PostPosted: Fri May 01, 2009 9:21 pm    Post subject: Reply with quote

aspencounty wrote:
It's certainly rare if ever, even if it their fault, that they will rule in your favor.

I think this has happened to a lot of folks with all the mergers. The bank that had my cc was bought by a larger bank earlier this year. They changed my due date & there was a problem with the website when I tried to make my payment. I was able to speak to a CS rep, based in the US who gave me directions to paying on their site (or they could take the payment via ph for a fee). Then she transferred my call to an account specialist who lower the interest rate back to the rate I had, deducted the late fee that had been charged that day, and increased my credit limit back to my original limit. In other words, she put everything in the account back the way it was a few days before. It would have been better it they had planned for the transfer better, but at least they corrected everything for me. I wondered how many folks just cut up their card or accepted the changes with out a protest.

And on a lighter note, maybe 15 yrs ago my son went through the drive through with his paycheck. Deposit was made to his checking acct with cash back. When he got home he realized the teller gave him an extra $10.00 ... He couldn't remember the teller's name and he didn't want to drive the 30 minutes one way back to the bank so he called the teller supervisor to explain what happened and to tell them he would return the cash on Monday after work. When I asked what the supervisor said, he replied, "Bank error in your favor, collect $10.00." Yeah, they told him to just keep it.
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SheilaDeesPostcards



Posts: 3982

PostPosted: Fri May 01, 2009 9:32 pm    Post subject: Reply with quote

My pet peeve with the credit card companies is the lack of information revealed about the charges to the merchant who accepts the credit cards. I've talked to so many people who have no idea that the merchant is charged a transaction fee for every charge plus a percentage of the total bill. Yes, the total bill including the sales tax, tip if added on to the receipt, shipping if mailed. The norm is a shocked expression with something like "With what they charge for interest & fees they still charge the merchant?" ...

There was some talk about some controls on the cc industry to "protect" the consumer. All that says to me is if they can't raise rates on the consumer, then they'll raise the rates on the merchant. Rolling Eyes

Ok, now I'm off the soapbox ... next!
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maggiethehousecat



Posts: 2401

PostPosted: Fri May 01, 2009 10:28 pm    Post subject: Reply with quote

If you carry a balance on a credit card(s), you know how you always get offers from other cards saying transfer your balance to our card for a lower interest rate, well I've been told that if you call your credit card company and ask if they can beat the offered rate they will do it. Rates are fixed till you threaten to take your debt and go, then they will negotiate.
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kjscreations



Posts: 1726

PostPosted: Fri May 01, 2009 10:55 pm    Post subject: Reply with quote

My mom did the little... 0 interest game after my stepdad passed away (he LOVED his cc's unfortunately) She kept transfering all the balances to a 0 % offer ... made her payments until another 0% offer came in before the other started to charge, then transfered again. She managed to get all the balances paid off within a couple years cuz her entire payment went toward the actual balance & was able to pay off everything twice as fast.
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goldfashionmine



Posts: 1509

PostPosted: Sat May 02, 2009 9:37 am    Post subject: Reply with quote

kjscreations wrote:
My mom did the little... 0 interest game after my stepdad passed away (he LOVED his cc's unfortunately) She kept transfering all the balances to a 0 % offer ... made her payments until another 0% offer came in before the other started to charge, then transfered again. She managed to get all the balances paid off within a couple years cuz her entire payment went toward the actual balance & was able to pay off everything twice as fast.



that is really smart!
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goldfashionmine



Posts: 1509

PostPosted: Sat May 02, 2009 9:42 am    Post subject: Reply with quote

aspencounty, i feel for ya!

i was transferred like 10 times to different reps when i called a customer service line for a certain bank. and each rep asks me like those 5 security questions to validate your identiy. it took about an hour. and i finally spoke with the manager. i told her, you know it took me so long..about an hour. and she said well it is usually busy on monday and fridays, and i said well today is tuesday? she was really nonchalant and being smart about it.

and the fees and taxes for phone bill is also terrible...
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theartsandlettersofmaggiethecat



Posts: 2097

PostPosted: Sat May 02, 2009 6:44 pm    Post subject: Reply with quote

All my utility bills are 3 pages long. 1/2 page telling me what I owe for what and 2 1/2 pages of explanation of the charges. I haven't a clue what any of them are except I know that every single one is a hidden fee increase they've been denied in court when they tried to raise the rates.
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aspencounty



Posts: 815

PostPosted: Sat May 02, 2009 7:01 pm    Post subject: Reply with quote

theartsandlettersofmaggiethecat wrote:
All my utility bills are 3 pages long. 1/2 page telling me what I owe for what and 2 1/2 pages of explanation of the charges. I haven't a clue what any of them are except I know that every single one is a hidden fee increase they've been denied in court when they tried to raise the rates.



Looking at my phone bill, I can sort of understand and support the basic 911 charge. Where I get lost is the 911 surcharge surcharge, 911 supplemental surcharge, local 911 surcharge, county 911 surcharge, state 911 tax, city 911 tax,federal 911 tax, 911 infrastructure charge etc. And that's just one item Shocked
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usedit



Posts: 394

PostPosted: Sat May 02, 2009 7:24 pm    Post subject: Reply with quote

Only about half of what I pay is for phone calls. I have no clue what the rest is actually for. Confused
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GiftCentral



Posts: 26

PostPosted: Tue May 05, 2009 12:17 pm    Post subject: Reply with quote

Will never use credit cards again myself. I will only use my bank/debit card that has the visa logo on it.

Dawn @ http://www.giftcentral.ecrater.com
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