Credit One Bank, First National Bank Of Marin Account Closed for Failure to Pay Balance In Full!! Las Vegas Nevada
I've been a customer of this bank since '04. Today I found out that upon card renewal, they decided not to renew my account because I did not pay the balance off quickly enough. ???? (I've always paid more than the minimum. Most recently, I sent in a $900 payment this past November). I've never been over my limit, and never late. My limit was $1600 and with my larger payments, it's gotten to be lower than 35% of the credit limit.
Last month when I called to report the missing card, I was told the account was closed for security purposes and that they would send me a new card to my new address (They still had an old one). When I still never received it, this is the reason I get.
Can credit card companies do this now? I thought it was in their best interest to keep these accounts open and PRAY people make the minimums, because they make money off the interest. ??!!
So now, I get no replacement card, and a closed account shows up on my credit report, which affected it negatively. No surprise there. I bought a house this past August, and my score actually went up. I don't understand how the reason they gave me could be acceptable to the agencies who oversee them.
If you're reading this and thinking about getting a card through this bank: DON'T. Go to Wikipedia and look up this company's information. I'll just say I was surprised at what I read. To add insult to injury, every time I've called there, the customer service has been horrific, at best.
This makes me nervous to make a payment that's too low or too high. How much should we pay? I'm writing all three credit bureaus and letting them know what was done, though I know it will probably not help matters much.
If you speak to "Moses" there, tell him I said hello, will you? I've just pulled all my hair out.
Jenny
Jacksonville, Florida
U.S.A.
1 Updates & Rebuttals
Jenny
Jacksonville,Florida,
U.S.A.
It's Fixed! All depends on who you get on the phone....
#2Author of original report
Wed, March 19, 2008
I called Credit One back and spoke to "Jene", who gave me the same reason. "Closed for poor payment activity". Keep in mind, I have NEVER been late, always pay more than the minimums, and most recently, sent them a $890 payment in November.
I asked to speak to a supervisor, but didn't. A man by the name of "Earl" came on the phone and said the reasons I was given didn't sound right to him, so he did some research. As it turns out, because they had my incorrect address information, it was "flagged" and that's why the account was closed.
Long story short, they're reopening my account and sending me the replacement card. I was told to give it two days to reopen and 7-10 days to receive the card. He apologized for the confusion and mix-up and asked if he could help me any further. I thought I was speaking to a different company! Now I won't have a negative closure of an account on my credit report, which makes me VERY happy.
This "Earl" should leave Credit One and work for a company with a better reputation. He used his critical thinking skills and took the time to do some research, rather than reading a wordtrack and ignoring my explanations.
It's resolved, as far as I'm concerned....but I do still plan on paying this account down and never using it again.....ever.