Mel
Pittsboro,#2Consumer Comment
Sun, December 05, 2004
They prey on people who are trying to build their credit, zapping them with fees and whatever else they can hit them with. I had an account with them 8 years ago. When I realized that I could never get ahead with their card, I cancelled it and paid it off,....so I thought. I started incurring fees for late charges, when I complained and asked for them to be removed, they refused. The account hit the over the limit mark and then I started incurring fees for lates and over the limit. This quickly added up to more than $400.00. I let the account sit for 7 years and it was removed from my credit last year, which was confirmed by Equifax. Now, over a year later, I am getting letters from Arrow trying to collect on the account again. I called them and they claim that I paid FNMB $40.00 last year and that FNMB transferred the account to them at that time, restarting the 7 year clock. I've haven't paid them a dime since I paid the original $250.00 off 8 years ago. I've requested the Credit Bureau to investigate and I've asked Arrow to prove the payment, they refuse. I've learned my lesson, if you can't buy it with cash or a layaway....stay away from credit cards altogether. I'm expecting that when I die of old age, hopefully 40 or so years from now, my kids will have to settle this account with the state, it just won't die.
Mel
Pittsboro,#3Consumer Comment
Sun, December 05, 2004
They prey on people who are trying to build their credit, zapping them with fees and whatever else they can hit them with. I had an account with them 8 years ago. When I realized that I could never get ahead with their card, I cancelled it and paid it off,....so I thought. I started incurring fees for late charges, when I complained and asked for them to be removed, they refused. The account hit the over the limit mark and then I started incurring fees for lates and over the limit. This quickly added up to more than $400.00. I let the account sit for 7 years and it was removed from my credit last year, which was confirmed by Equifax. Now, over a year later, I am getting letters from Arrow trying to collect on the account again. I called them and they claim that I paid FNMB $40.00 last year and that FNMB transferred the account to them at that time, restarting the 7 year clock. I've haven't paid them a dime since I paid the original $250.00 off 8 years ago. I've requested the Credit Bureau to investigate and I've asked Arrow to prove the payment, they refuse. I've learned my lesson, if you can't buy it with cash or a layaway....stay away from credit cards altogether. I'm expecting that when I die of old age, hopefully 40 or so years from now, my kids will have to settle this account with the state, it just won't die.