Peoples Trust Credit Union formerly Detroit Federal Employees Credit Union RIPOFF! I am sick of paying for rude and inconsistent service! Southfield Michigan
I've had a savings account at this credit union since I was about 6. My grandmother opened it for me, and when I turned 17, I started a checking account there. I loved it up until about 6 months ago. When I was about to start college, I decided it was time to get a credit card to be helpful in getting the things I needed/wanted between paydays. It was only a $300.00 limit and I managed it very well, paying off the balances every month. Then, before I went on a small vacation this past summer, I called to see if the credit union could put my payment through one day early in case I wanted to use the card on the trip. I did spend a bit when I got back because the paycheck I got the week I came back wasn't great since I didn't have many hours on that pay period.
As always, I checked the activity of my card online. It said on the website I had $270.00 available before I did that spending. I thought it was odd, and just figured I overpaid since I was always paying off a balnce as soon as I aqquried one. Suddenly, my balance was $500.00!!!!!
Obviouslly I called my CU because something was not right! It took them a week before they told me what happened after being extremely rude to me the whole way through. Apparently they increase credit limits to just make a phone call to Visa to process payments one day early. Why? I still have no clue! They explained to me when I asked that all they had to do was call Visa and verify the funds were in my account and that I would be all set. NEVER did they say, what thety made out to be just typical procedure, that they would have to increase my limit!
Unknowingly, I used my card like normal and I'm still paying for it! I'm a full-time student (5 days a week, 15 credit hours) that works close to 35hrs per week, I always keep good track of my money, and now I'm in debt, because my credit union failed to tell me about this BULLSH*T policy!
And to top it off, I am now over on the card and I got to replace this other one and over drwan on my checking account, because they said I didn't have the funds in my aacount to make a payment to that card! I had 150.00 in my account, with no additonal charges to make the payment of $100.00, as well as a direct deposit paycheck the next day of $350.00!
I am sick of paying for rude and inconsistent service!
I'm switching credit unions now, but I am working my @$$ off now to pay to get out a bad finacial situation I did not create!
Kelley
Detroit, Michigan
U.S.A.
1 Updates & Rebuttals
Brendan
Lathrup Village,Michigan,
U.S.A.
In defense of Peoples Trust Credit Union
#2Consumer Comment
Sat, September 18, 2004
I have banked with People's Trust for four years and I have been very impressed with their products and their treatment of their customers. While I relate to Kelly's frustrations with her credit card, I must say that having had many, many credit card accounts, a credit card with People's Trust is comparatively hassle free. I cannot understand exactly what happened with Kelly's card, but I can safely say that if it was Citi Cards or MBNA, a much worse result would have occurred. I can also say that the on-line reporting of credit card balances with People's Trust is not always up to date or accurate, so you have to rely on your own records. I am happy with People's Trust for two reasons: first, I got a car loan with Peoples Trust last year with an interest rate at least 2% better than anywhere else I could find, and it was very easy to apply. Their loan department takes good care of their customers. Also, I very recently closed a home equity loan and have consolidated all my credit card debt with a much lower interest rate, after being told by several lenders that I would never qualify for the rate I received. Thanks to People's Trust, I will be able to pay off my credit cards and not take 15 years and pay thousands in interest doing it.
So Kelly, this is the real lesson that you should learn : stay away from your credit card. Keep a few open accounts to establish your credit history, and use it only when you have to (i.e. internet purchases), but do not use it otherwise! The credit industry is ruthless and will allow you to dig yourself into a hole as deep as you will let them. Being a bankruptcy attorney, I see people every day file bankruptcy with 50,000 - 100,000 in credit card debt - don't let it happen to you!!!