First Bank Of Delaware - Tribute Mastercard Cancelled credit card after paying invoiced amounts on-time for over 1 yr. Atlanta Georgia
I obtained a Tribute Mastercard credit card in 2007. After paying on-time for over a full year, never missing a payment or underpaying, they have cancelled my account. They advised that it was cancelled because it was over the limit. I made my last payment on 9/1/08. There was credit available at the time. A few days later, I looked at the account and noticed the balance was $0 with no pending items. When I contacted the Call Center on 9/21/08, I was advised that my account was $13 over the limit and was cancelled for being over limit and would not be reactivated. They advised, I would need to pay off the balance and reapply. I checked the card on-line today (9/22/08) and the card is now reflecting an additional $35 over limit from what the Rep just advised me on 9/21/08. How can the card go from having an available credit, to zero credit to $80 + over the limit without any transactions or even pending transactions created by me since my last payment on 9/1/08?? It appears this company may have fallen short due to the financial market crisis (specifically with regard to subprime lending) and is taking their financial short falls out on credit customers who have made payments on time and been good customers trying to rebuild their credit. It appears nothing short of a class action lawsuit is warranted/due to First Bank of Delaware for fraudulent practices towards their customers because of their financial troubles.
Personally, I will be reporting First Bank of Deleware/ Tribute Mastercard to the SEC, BBB and filing a personal lawsuit for fraudulent business practices to include any negative reporting on my credit report that may result from their scam. It appears this company assumes that since its card recipients were for the most part approved because of subprime lending, that the recipients are ignorant to their constitutional rights regarding Fair Credit and Debt practices, Generally Accepted Accounting Practices (GAAP) and Sarbanes Oxley Regulations. All I can say is "bring it on FBD"! Those financial woes are about to get more intense!
Sindra
Chattanooga, Tennessee
U.S.A.
8 Updates & Rebuttals
Sommery
Saint Paul,Minnesota,
USA
That's a $150 ANNUAL fee.
#9
Thu, August 13, 2009
It sounds like the problem is the same for almost everyone. They paid their initial fee when they opened the card. And a year later, all of a sudden they were over their limit. What happened? The fee is an annual fee, which means it's charged every year. After the first year, their card was almost maxed out and they didn't have enough available credit to cover the annual fee, but it was still charged. Oops, now they're over limit.
I have this card, and yes the fees are somewhat excessive (I knew that going in.) However, my credit score has gone up over 100 points since I got this card. They report monthly to all three credit reporting agencies. As long as you keep to your end of the bargain, they will too. That means making sure you have the available credit to pay their admittedly high fees.
Brad
Knoxville,Tennessee,
U.S.A.
No free rides..
#9Consumer Comment
Sun, June 14, 2009
Not to defend this predatory bank but it sounds to me like Sindra neglected to leave enough room for his or her finance charges. Sindra seems completely perplexed as to how the card could be over the limit since no charges were initiated by him or her. However, the card could've easily gone over limit and incurred fees if there wasn't enough room to post the finance charges and any other monthly fees pursuant to the card's contract.
You can't run a card up to its limit, make the minimum payment, and not expect it to go over the limit, Sindra. I'm certain you'll swear this isn't the case but it definitely sounds like what happened to me.
Joel
Tuscaloosa,Alabama,
U.S.A.
My Tribute Experience
#9Consumer Comment
Tue, December 23, 2008
When i read this report, i realized the very same thing was done to me.I had actually requested a new card since i lost my other one, they told me my account had been closed because it was overlimit, i had just made a payment which made my account on time with payments, and they decide to close this account.They also have very bad customer service, i had a situation where one person told me a program they would enroll me in to help get my balance lower, and come to find out, i spoke to someone else, and i was not eligible for this program, so my account continued to get more overlimit, they also continuosly call me and harrass me, i had planned on paying this card off, but now, i don't think so.Do not apply for this card, bad experiences, promises made, that were not kept, or lies, i recommend Salute, or Blaze Mastercard, i have both of these and never had any problems with them at all.My credit is bad anyway, so adding one more to the list is not going to bother me, Tribute can suck it up.
Laurie
Haslet,Texas,
U.S.A.
ITS THE ECONOMY STUPID
#9Consumer Comment
Wed, December 10, 2008
WE ARE IN A CREDIT CRISES - have you not been paying attention?
All the credit card companies are lowering limits, cancelling cards and raising interest rates, and they can do whatever they want - says so in the contract you signed.
They are attempting to reduce the default risks in this tight credit market.
In some cases the changes are across the board to all card holders, in others they are basing on spending habits, where you shop, etc.
Manny
Cape Coral,Florida,
U.S.A.
Lawsuit
#9Consumer Comment
Wed, December 10, 2008
I was doing some research and noticed that the FTC sued Compucredit, along with two other banks for $217 million, and people who fell to thier deceptive pactice should be granted restitution.
here's the link
http://www.ftc.gov/os/caselist/0623212/080610compucreditcmplt.pdf
Manny
Cape Coral,Florida,
U.S.A.
Same thing with me...ALSO
#9Consumer Comment
Wed, December 10, 2008
I had the same exact thing happen to me around the same time also.
I got my card exactly one year ago, and paid the $29 fee, as well as the $149 annual fee that they charged my card. I had no problems using the card, and although I went over the limit twice, I made my payments on time and more than the minimum due. During the time that they cancelled my card I made payments although I was not able to use it. It showed an available balance, but when I would go to the gas station or anywhere to use my card, it would get declined.
I think we should do a class action suit for fraudulent and misleading practices.
I had also called twice inquiring about my account, only to be told that the system was down and to call back.
Littlefishy
Big City,Nebraska,
U.S.A.
Same thing with me
#9Consumer Comment
Sat, November 01, 2008
The same thing happened to me, same time frame. I always paid off my entire balance every month and infact my credit limit was recently increased. I went 52.00 over my credit limit and they cancelled my account even though they initially told me it would be fine after I paid the over the limit.
In fact, I received a very official collection notice from their legal department even though my payment was not even due yet. Crazy. They even sent me an email stating that they have an emergency cushion for people to go over the limit.
My point to them was that they should not approve charges that go over the limit. How can you cancel someones card for going over the limit when they are the ones that approved the charges. They told me the same thing - that once the balance is paid, I can reapply.
Robert
Irvine,California,
U.S.A.
And?
#9Consumer Comment
Mon, September 22, 2008
What do your statements show?
Since you left out the exact numbers, my guess is that you made a payment on 9/1 and were close to your limit. You then make a small charge before the statment closing date(which is usually a few days after the due date). On your statement closing date they assess the interest for the month. This is probably what put you over your limit.
By the way there are no "constitutional" rights in terms of credit cards.