MetaBank/Bankcard Services Do The Right Thing And Still Get Screwed Beaverton, Oregon
I am so angry. I have an mastercard with MetaBank/Indigo that I opened back on 12/08 and have been using and paying on and paying off. Sometimes I pay it off and sometimes I make payments.
Now my payments are always on time as they are automatically tooken from my bank account. So today I had to call them and they then informed me that my account is closed. I said what, closed how come? Well I dont know maa'm they sent you a letter. A letter that I had not received yet .
I get a manager and ask him why is my account closed? My credit with you is perfect. This is a regular credit card. He says I dont know it doesnt tell us on the computer. Bull of course it does. So I go to the mailbox and theres the letter.
The letter states that they periodically review the accounts history, current economis trends, and your credit report and your account has been closed. Still no reason. As long as you are making your payments and you are always on time, what gives these banks the right to take away this card when I use it for things I need.
This bank is the biggest ripoff I have ever seen. I have never in all my 51 years ever had a creditcard closed whether it be $5000 or $500. What is happening to our country. You get a credit card and nowyou dont even know how long you might have it.
I still do not have a reason. Oh and the best partis If I would like a specific reason for the closing of my account then I can contact them by writing and requesting this within 60 days. My god I would liked to of had a reason in the letter.
Whoever works for this company certainly do not have the brains for the jobs. Their customer service is rotten, nobody knows nothing when you call. Its always well can you hold for a minute? I just cant believe they can do this.
I would love to have an attorney see this and choose to help me cause I would like to put a stop to this awful so called company who obviously go by the rules that they make up as they go along and I for one want to put a stop to it cold turkey. Its the same old story these banks just do as they please and who cares about the consumer, we can go to hell for all they care.
Please tell me if other people have had the same happen to them with this so called ripoff company?
3 Updates & Rebuttals
Ronny g
North hollywood,California,
USA
I have my suspicions..
#4Consumer Comment
Thu, September 16, 2010
...that if a bank is closing credit card accounts of a customer that has been using the card and making timely payments...that in all logic, the bank is in some kind of fear of future issues, and is doing this to protect themselves from bankruptcy.
Think about it...either they gave you this line of credit at a great risk to themselves..or you qualified legitimately and present a low risk.
Either way...they are well aware how much the consumers of this country have become dependent on credit..heck..they caused it. AND...they are well aware that many businesses depend on this credit to survive as well..and the thousands and thousands of hard working honest Americans they employ.
But what really matters to them? The answer is self evident.
The BEST advice I was ever given in my life..is by one of the few people I know that actually has a fortune..and that is do not buy anything unless you can afford to pay for two of it...cash. Never mind all these get rich quick and Donald Trump BS that you can get rich using OPM (other peoples money). Sure, give me a few million and some office buildings in Manhattan and I will write all the books on how to do it (have rich parents who leave you something), but the reality is...to live within your means and OWN your possessions..do NOT let them own you.
Flynrider
Phoenix,Arizona,
USA
Of course it's happened.
#4Consumer Comment
Wed, September 15, 2010
"Please tell me if other people have had the same happen to them with this so called ripoff company?"
It's happened with every bank. Wake up! It's not 2008 anymore. Credit requirements (especially unsecured revolving accounts) have tightened and are continuing to tighten all the time. The recent revisions in credit card rules that were meant to protect you, the consumer, are also going to restrict credit cards to only the top tiers of credit risks. Gone are the good old days when all you needed was a pulse in order to get a credit card. It's a whole new ballgame and you'd better get used to being particularly credit worthy in order to get or keep a CC account.
Every CC issuer gets to decide if they want to continue to offer you credit at any time. It's their money you want to use, so why shouldn't they?
Robert
Irvine,California,
U.S.A.
They gave you a reason..
#4Consumer Comment
Wed, September 15, 2010
The letter states that they periodically review the accounts history, current economis trends, and your credit report and your account has been closed.
Just because you don't like the reason does not mean that they didn't give you one. It basically says that they have increased their qualifications for credit and you no longer qualify. Companies have increased their qualifications for credit, and just about every bank is reviewing credit accounts. You can find reports from other banks where people who think they are "entitled" to a credit card get upset because the bank closed their card.
As long as you are making your payments and you are always on time, what gives these banks the right to take away this card when I use it for things I need.
- They have that right because it is THEIR money. When you sign up for ANY credit card you give them the right to review your account periodically. If the bank feels that you no longer qualify, EVERY credit card has the right to close the account.
As for the CSR's knowing the reason..they don't. By law you are required to be notified in writing, and companies only send this information out by mail.
No attorney is going to take this case because there is no case to take. If you get an attorney to even look at it, they are going to charge you money up front and that would be the true RipOff.