Complaint Review: First Bank Of Delaware - Tribute Mastercard (gold)

Like everyone else who's filed a negative report concerning Tribute / First Bank of Delaware, I received a letter terminating my participation in their "card program". I, too, was on-time with all my monthly payments, usually paying much more than the minimum amount, and was participating in good faith. The letter stated the account closure would take place October 24, 2009, but my account was closed as of September 4 without due notice!

When I called their office, (transferred to India, of course) they indicated that ALL credit card accounts were closed "due to the economy"; they had ended their entire credit card program. I asked if their closure would affect my credit rating; they said it wouldn't, but that's not how I understand the credit numbers "game" to work; a closed credit account is a negative account, as I understand it.

So, they've ruined my opportunity to rebuild my credit; they've negatively impacted my credit rating, and, to add insult to injury, according to the letter I received, THEY WILL CONTINUE TO CHARGE MAINTENANCE AND PAYMENT SERVICE FEES! There was no mention, of course, about reimbursing annual fees charged BY THEM to the account.

Is this legal? Can they really do this much damage to so many people and not be held accountable for their actions? Is the CEO and his cronies somewhere in Switzerland laughing their collective a**es off while they sit on a pile of ill-gotten gains? Where is the justice?!