First Bank Of Delaware - Tribute Mastercard After two years of good standing I payed the card fee for having this card then they closed the account after payment of my balance in full Internet
I have had this card for two years.
To acquire the card they charge you a fee of $149.00 of a credit limit of $500.00
After paying my monthly payments never being late and then paying them off which after two years the limit was $650. They closed my account for no reason whatsoever.
What a rip off.My account was in good standing,WHY.
1 Updates & Rebuttals
MEGEGEME
United States of AmericaMillions = Billions
#2Consumer Suggestion
Fri, December 18, 2009
The answer to this one is simple. You were a good customer yes? Probably rarely if ever had any late fees or incur finance charges? No? The harsh reality is the credit issuer isn't making any profit from you as a customer.
I see this all the time in my profession. Your credit limit was small, but multiply it times 1000 people like yourself that are/were "excellent customers".
That would be $650,000. What the company will do is lend this money to new customers with the hopes that approx 90% of them will have occasional late fees and incur finance charges. Then their profit grows exponentially.
Now multiply the above figure by 5 to 10 million customers across the board. Get the picture?
MEGEGEME