• Report:  #742

Complaint Review: Associates National Bank (Delaware) - Des Moines IA and DE

Reported By:

Associates National Bank (Delaware)
Processing Center Des Moines, 50363-2200 IA and DE, U.S.A.
972 653 4000
Tell us has your experience with this business or person been good? What's this?
I applied for a credit card through information given to me on

campus. It was through Associates National Bank in Delaware.

The interest rate was high, but I needed to establish credit

somewhere. I had a low balance of $500. When I made a late

payment they charged me $29.oo. for a late fee. This late fee made me go over my limit. Because I was over my limit they charged me an over the limit fee of $29.00. So now I am $58.00 deeper in debt because I didn't pay a payment on time. The minimum balance due on my next bill was paid and then they charged me again for being over the limit. To make a long story short I asked for a settlement agreement to payoff this account without paying the extra fees.

They wouldn't remove all of the fees, but I agreed just to get them behind me and cancel the card. I found out I could have gotten a card from my credit union for 9.9% interest instead of their 17.49%.

I made the payment and then I got a statement in the mail saying I was due a refund of $116.00 because some payments had crossed in the mail.

Two months later and I still haven't received the

refund. My mother called the company for me today while I was at work and they said they hold the refunds for 90 days unless the card holder calls and personally requests the money to be

refunded. She told them I was at work and couldn't call because of the hours they were open (their customer service number is not a toll free number either - and expect to stay on hold quite a while)so not to expect the check soon unless a call was made to request it and they wouldn't let her make the request. They charge a huge amount of interest, charge large fees, and then hold YOUR money when there is an over-payment. Does this make sense for a financial institution to do business this way? Especially when you are a college student and they know you have money struggles more than an established adult!

3 Updates & Rebuttals


District of Columbia,
Associates has been good to me...

#2Consumer Comment

Tue, January 07, 2003

When you enter into a contract, you need to read the terms and conditions therein. I got my Associates card at the age of 19, and have never ever had a problem with them. I have consistently made my payments on time, and they recently cut my APR in half, as well as raised my limit. I get a nice cashback incentive check at the end of the year. Most credit card companies would have stuck you with the fees they did. That's how they make their money, after all. You cannot have a parent call...you opted to be an adult and get the card in your name, and it is therefore your responsibility. Their customer service number is indeed toll free, it's on the back of your card!!!


I have the same card

#3Consumer Comment

Sun, December 29, 2002

I learned a valuable lesson from getting that card. I should have paid the payments on time, but when I tried to fix my mistake they totally lied to me when they said it would fix the problem. I paid out over 400 dollars in increments and it only brought it down around 50 dollars plus they were charging me 33% interest which might I say is illegal in my state and as far as I know every other state. I stopped making payments on it because they had lied to me and ripped me off and I tried to fix my mistake. The He11 with them.

I have the exact credit card to which you are referring


Fri, September 22, 2000

To: [email protected] Regarding: "Rip Off College Kids With Credit Cards" Associates National Bank, Credit & Debt Services I have the exact credit card to which you are referring and have been quite pleased with this company and their offer to college students. They started my account at the $500 limit, but because my payments have all been on time this limit has now increased to $3000. For the same reason, I was also able to request (and get!) a much lower interest rate then the initial one. It sounds like the lesson to you is, make DARN sure your payments get in on time, and don't push your credit cards to the limit. (BOTH good lessons to learn while you are in college!) Regarding your claim that the customer service number is not toll-free: I have spoken with customer service at the toll free number printed both on my card and on my statement. Look again. K in South Dakota e-7-6 REBUTTAL

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