Household Bank rip-off! Carol Stream Illinois
My husband was offered their credit card. When he signed up for it, he got a bill for a processing fee of $35 and a rush order fee of $39. He was not aware of, nor did he ask them to rush process it. They are extremely hard to negotiate with. If you are experiencing financial trouble and need to make payment arrangements, they are uncooperative. All they care about is money.
We got a bill that the balance on the card was $322. We sent in $22, then about a week and a half later, we sent in the $300. Assuming it was paid off. We then receive another bill in the mail form them stating that we owe them a $29 late fee and a $39 over the limit fee. We refused to pay them because we didn't feel the charges were ligit. When we confronted them about it, again they were rude and bullheaded. It took us six months to get them to doa settlement. Our bill is now up to more than $200. They settled for $109.93.
We recently had a fraud charge on our bank account, we have to close our bank account because we had money fraudulently taken from our account. Since they have our info, we have to close this account and opened a new one. I attempted to confer with household bank about the check-by-phone that they currently have out for our remaining balance and informed them of the current situation. They would not listen They said if we cancelled this one and moved the date up, it would cancel the settlement agreement. I have to wait for a supervisor to call me back so I can tell them what the deal is and see about getting it taken care of. NEVER DO BUSINESS WITH HOUSEHOLD BANK!
Shelly
Dresden, Ohio
U.S.A.
3 Updates & Rebuttals
Sharon
Houston,Texas,
U.S.A.
with the same back no problems what so ever
#4Consumer Suggestion
Wed, April 14, 2004
It is good you learned your lesson, however your complaint CLEARLY states you had to wait until a supervisor to call you back to get this taken care of. You also stated you all didn't receive the terms and agreemnt until 6 months later. When you recive your credit card (s) the terms/agreement page will always accompany it at the same time, and never later.
I also have a credit card with the same back no problems what so ever. You also mentioned there should be some type of regulations for this problem. I encourage you to go to www.ftc.org which is the Federal Trade Commission website, click on consumer, then click on the tab that states "for consumers on the left", then click on credit. Once you click on credit, you will see the countless credit regulations listed. Choose the one that mostly fits your situation.
Remember the Fair Debt Collection Practices Act, and the Federal Credit Reporting Act if nothing els..These 2 laws are crucial to learn .
Good luck you,
Sincerely,
Shelly
Dresden,Ohio,
U.S.A.
We never received anything on terms and agreements until almost 6 months later.
#4Author of original report
Wed, April 14, 2004
There was no fine print aywhere. The fees were laid out, yet the "rush processing fee" was not. We never received anything on terms and agreements until almost 6 months later. I never said that THEY had to call me back, I siad My husband had to call them becuase the card was in his name. When we did call back, they said they needed $45 that week, then $30 the following week, and that noone ever talked to us about a settlement. We were very upset.
I told them they weren't getting their money, becuase we are tired of the harrassment(calling everyday-even during dinner)and the games they kept playing. They finally settled for 109.93. Not even half of that was the "over-the-limit" fees and ridiculous $39 late charge fees. I think it should be regulated. I believe it's called extortion. We'e learned our lesson though. Credit card comapnies don't care about you or your life problems, if you can't give them money, you're worthless.
Sharon
Houston,Texas,
U.S.A.
Professional suggestion. Settlement offers always have deadlines and need to be submitted to you in writing from the credit company
#4Consumer Suggestion
Wed, April 14, 2004
If you have not already and you still have the preapproved offer for the credit card. Go over it very carefully one more time. Often when we get a preapproved offer for a credit card in the mail, in very small writing, which is intentended for most people not to notice, you will see processing or rush order fee. Also if you still have the very first statement, look for the terms and agreement page, and it will also talk about these fees.
I am in no position to criticize anyone, however it is very easy to pass up very small words, which have huge consequences. Also in my countless years being in the credit/collection industry, I HAVE NEVER heard you have to wait until a financing company, which is what Household bank is to call you back on a settlement offer. Settlement offers always have deadlines and need to be submitted to you in writing from the credit company. Hope this helps. Feel free to post questions below and I will respond.