Complaint Review: Nextcard - Norcross Georgia

I agree with your statements about the importance of posting on this website. I am in the middle of a predatory lending dispute with a major lender, and I came across this website when I did a search under the bank's name. I think it's important, however, to also involve all the regulating agencies, attorney generals, etc. I don't think much happens with a single complaint, but I do think that those agencies pay attention when they see a lot of complaints. They have the power to financially punish crappy companies above and beyond class action lawsuits. I do wish, however, that there was a federal registry of complaints that consumers had access to. With my current complaint, I know I can't be the only person this bank tried to stick with a negative amoritization loan. However, I have found virtually no other cases. I believe they probably settle out of court or do something to avoid the complaints from appearing on any sort of permanent record. It's a 65 BILLION dollar bank. I was warned by someone in the industry that the bank often does negative amoritization loans, but I didn't think I had anything to worry about because I had applied for a fixed rate mortgage. Well, now I see how they do it. I was denied for the fixed loan, but "approved" for some slimey loan, with no paperwork provided at all. Even when directly asked, no paperwork was provided. I moved on to a different bank and got my fixed rate loan. I complained to HUD about this bank and the matter is currently under investigation. I strongly believe that even though I didn't get screwed by them, they tried it, and it is up to me to report it so others don't get screwed. HUD has a fining schedule that escalates at a geometric proportion--maybe a small fine the first time, but if they hear the same complaint say 3 times in 5 years, the fine becomes 20 or 30 times the original fine. For the offense I am pursuing, a negative finding by HUD will affect whether or not this bank gets additional branches in this state (via the Community Reinvestment Act). Banks found in violation have their territory curtailed. Good! That is why it is important to report complaints to the regulators and also to pages such as this one. I won't be settling with this bank. I want to go to the end so that there is a record somewhere for some other hapless victim to find if they screw someone else in the future.

I agree with your statements about the importance of posting on this website. I am in the middle of a predatory lending dispute with a major lender, and I came across this website when I did a search under the bank's name. I think it's important, however, to also involve all the regulating agencies, attorney generals, etc. I don't think much happens with a single complaint, but I do think that those agencies pay attention when they see a lot of complaints. They have the power to financially punish crappy companies above and beyond class action lawsuits. I do wish, however, that there was a federal registry of complaints that consumers had access to. With my current complaint, I know I can't be the only person this bank tried to stick with a negative amoritization loan. However, I have found virtually no other cases. I believe they probably settle out of court or do something to avoid the complaints from appearing on any sort of permanent record. It's a 65 BILLION dollar bank. I was warned by someone in the industry that the bank often does negative amoritization loans, but I didn't think I had anything to worry about because I had applied for a fixed rate mortgage. Well, now I see how they do it. I was denied for the fixed loan, but "approved" for some slimey loan, with no paperwork provided at all. Even when directly asked, no paperwork was provided. I moved on to a different bank and got my fixed rate loan. I complained to HUD about this bank and the matter is currently under investigation. I strongly believe that even though I didn't get screwed by them, they tried it, and it is up to me to report it so others don't get screwed. HUD has a fining schedule that escalates at a geometric proportion--maybe a small fine the first time, but if they hear the same complaint say 3 times in 5 years, the fine becomes 20 or 30 times the original fine. For the offense I am pursuing, a negative finding by HUD will affect whether or not this bank gets additional branches in this state (via the Community Reinvestment Act). Banks found in violation have their territory curtailed. Good! That is why it is important to report complaints to the regulators and also to pages such as this one. I won't be settling with this bank. I want to go to the end so that there is a record somewhere for some other hapless victim to find if they screw someone else in the future.

I agree with your statements about the importance of posting on this website. I am in the middle of a predatory lending dispute with a major lender, and I came across this website when I did a search under the bank's name. I think it's important, however, to also involve all the regulating agencies, attorney generals, etc. I don't think much happens with a single complaint, but I do think that those agencies pay attention when they see a lot of complaints. They have the power to financially punish crappy companies above and beyond class action lawsuits. I do wish, however, that there was a federal registry of complaints that consumers had access to. With my current complaint, I know I can't be the only person this bank tried to stick with a negative amoritization loan. However, I have found virtually no other cases. I believe they probably settle out of court or do something to avoid the complaints from appearing on any sort of permanent record. It's a 65 BILLION dollar bank. I was warned by someone in the industry that the bank often does negative amoritization loans, but I didn't think I had anything to worry about because I had applied for a fixed rate mortgage. Well, now I see how they do it. I was denied for the fixed loan, but "approved" for some slimey loan, with no paperwork provided at all. Even when directly asked, no paperwork was provided. I moved on to a different bank and got my fixed rate loan. I complained to HUD about this bank and the matter is currently under investigation. I strongly believe that even though I didn't get screwed by them, they tried it, and it is up to me to report it so others don't get screwed. HUD has a fining schedule that escalates at a geometric proportion--maybe a small fine the first time, but if they hear the same complaint say 3 times in 5 years, the fine becomes 20 or 30 times the original fine. For the offense I am pursuing, a negative finding by HUD will affect whether or not this bank gets additional branches in this state (via the Community Reinvestment Act). Banks found in violation have their territory curtailed. Good! That is why it is important to report complaints to the regulators and also to pages such as this one. I won't be settling with this bank. I want to go to the end so that there is a record somewhere for some other hapless victim to find if they screw someone else in the future.

I agree with your statements about the importance of posting on this website. I am in the middle of a predatory lending dispute with a major lender, and I came across this website when I did a search under the bank's name. I think it's important, however, to also involve all the regulating agencies, attorney generals, etc. I don't think much happens with a single complaint, but I do think that those agencies pay attention when they see a lot of complaints. They have the power to financially punish crappy companies above and beyond class action lawsuits. I do wish, however, that there was a federal registry of complaints that consumers had access to. With my current complaint, I know I can't be the only person this bank tried to stick with a negative amoritization loan. However, I have found virtually no other cases. I believe they probably settle out of court or do something to avoid the complaints from appearing on any sort of permanent record. It's a 65 BILLION dollar bank. I was warned by someone in the industry that the bank often does negative amoritization loans, but I didn't think I had anything to worry about because I had applied for a fixed rate mortgage. Well, now I see how they do it. I was denied for the fixed loan, but "approved" for some slimey loan, with no paperwork provided at all. Even when directly asked, no paperwork was provided. I moved on to a different bank and got my fixed rate loan. I complained to HUD about this bank and the matter is currently under investigation. I strongly believe that even though I didn't get screwed by them, they tried it, and it is up to me to report it so others don't get screwed. HUD has a fining schedule that escalates at a geometric proportion--maybe a small fine the first time, but if they hear the same complaint say 3 times in 5 years, the fine becomes 20 or 30 times the original fine. For the offense I am pursuing, a negative finding by HUD will affect whether or not this bank gets additional branches in this state (via the Community Reinvestment Act). Banks found in violation have their territory curtailed. Good! That is why it is important to report complaints to the regulators and also to pages such as this one. I won't be settling with this bank. I want to go to the end so that there is a record somewhere for some other hapless victim to find if they screw someone else in the future.

Many government sites (and the BBB) are only in place to collect all the information from you, the consumer; in most cases, never making it available for others to see. Listing your complaint on many Government sites is usually no better than filing with the Better Business Bureau (BBB). In fact, utilizing such sites is often just a waste of time; giving you false hope. Perhaps most frustrating is that the federal agencies tasked to investigate these disreputable enterprises receive tax dollars to do so, yet come to badbusinessbureau.com for the results of our investigations and data, which we collect at no cost to the consumer while benefiting them. By failing to make this information available publicly, it makes it harder for consumers to get educated about exactly what scams they should watch out for. In addition, when these agencies fail to make these individual complaints public, consumers are robbed of the opportunity to know how bad a Company or Individual really is, and why. On the other hand, many government agencies have and do come to the Rip-off Report for information. We have assisted, and continue to assist many government agencies for some time now, including local and state police departments, the FBI, FTC and Attorney General offices from around the country Since all the Reports are out in the open for everyone to see, in a way, this embarrasses these agencies into doing something about these scams when they see so many Reports on a Company or Individual. Unfortunately, many (not all) Attorneys General Offices and government agencies will not move against a rip-off unless there will be some sort of publicity, associated with some political hay to be made. Additionally, they normally won't take action if the Rip-off does not exceed $50,000. However, your Reports have helped to change this. Reporting your experiences on Rip-off Report is the next best thing to getting your story on TV or in a newspaper. In fact, many national TV networks and several local TV stations from all around the country come to the Rip-off Report for information. They do this because they know that the BBB, Attorneys General, and other agencies are not reliable or cooperative sources when compared to Rip-off Report. News stations know that they will get information from us that are unobtainable elsewhere. Rip-off Report has instigated many local and national stories that have resulted in help for victims worldwide, in one way or another. Now that the government has cut back spending even more in this area, this dollar amount required to get the attention of investigative agencies will likely get even higher. This means that we can expect even less action, since fewer people and resources will be available to work on all these Rip-offs. Additionally, by filing a Rip-off Report, you might be contacted by one of us to notify you to make contact with a law firm that has shown interest in your case. We get requests every week for class action lawsuits; bringing victims together with lawyers willing to sue the company after reading your filed Rip-off Report.

I used to have a NextCard, before they went bankrupt. God, what a sorry-a*s excuse for a company. I had a dispute with a vendor, and I paid my balance in full, less the disputed charge. NextCard charged me interest because I did not pay the disputed item, even though there was no other balance due (ever--always paid in full each month).

After trying to get through on their phone lines without success and writing them without any response, I filed a complaint with the banking regulators in California, the California State Attorney General's Office and I think the charter company for Visa, since they were in violation of normal credit card practices.

Well, the Attorney General got their attention. But, I got a smarmy (very smarmy!) letter from their corporate shell company in Nevada stating they were a Nevada company and not subject to the laws of California. That was crap, since I was a California resident at the time and California has some very consumer-friendly laws for companies doing business in the state.

I then received a second letter stating they weren't subject to California law, but they would do me the honor of reversing the interest charge. BIG DEAL! I never should have been charged it in the first place! It took a complaint to the State Attorney to get any response at all. I am not surprised this sorry excuse for a credit card company went belly-up. I feel sorry for anyone still stuck with them. I cancelled my card after this experience, right before their bankrupcy came to light.

File a complaint with the Attorney General's Office. I'm sure my existing complaint on that company isn't the only one they have received. Good luck!