We once had a Citizens Bank credit card. We have not--by their records--charged anything since 2001. We asked them to close the card a couple years latter. We just got what looked like junk mail from them, and I didn't do my usual tear up and throw away thing--I opened it. It was a bill for $29 as a charge for being part of their rewards program, which we have never agreed to and didn't care about because we had closed the account. We had to spend a lot of time to get them to rescend the bill as they said we had not closed the card. If we hadn't caught it, we wouldn't have paid the minimum, and there would have been a large non-payment fine.
PLEASE pass the word to all the seniors & others about this "procedure" being used by Citizens Bank to make themselves more money.
2007-07-25 12:24:28 · 9 answers · asked by Terry 7 in Society & Culture ➔ Cultures & Groups ➔ Senior Citizens
When you phone in on AMEX or any other bank, credit card company whatever the person taking the call opens your account on the computer and immediately a list of services you are "eligible for" pops up.
IF this person can get you to agree to having one of these services, he/she makes a commission on that. Getting someone to upgrade their card, say from green to gold, gold to platinum can be very lucrative.
Other services they get paid for enlisting people with are rewards programs, cards that allow you to carry a balance, travel insurance, another person on your card, etc.
They are paid for doing this. And it is not at all uncommon for these people to "fudge" the "sales", especially if the person calling in is a senior.
If you phone in and say I didnt apply for or agree to this additional service, they have to remove it.
However be warned, most of these companies use what is called "Negative Marketing" (or maybe I made that name up, I'm old, I cant remember lol)
In effect it means they send you out what you think is "junk mail" BUT it says "we are signing you up for this service, IF you dont want it, please check the NO box and send this back to us".
IF you DONT check the No box it will be applied to your account and you will be charged for this service until you phone in and raise holy hell with them -
IMO its a very underhanded dishonest way of doing business, so many people DONT go over their statement very carefully.
They will send you these negative marketing campaigns "offering" you IMO stupid things like books, pocket calendars, a reference of ALL the flights in the US, and what time they leave each and every airport, a guide to the best restaurants in the US etc.
Give 'em hell !! I used to work for a card company I wont name here - and FYI IF you call in and say I want the lowest interest rate available, and have no late payments "they" have to give it to you - this is the law. :-)
2007-07-25 12:57:10 · answer #1 · answered by isotope2007 6 · 0⤊ 0⤋
Thank you. I do tend to throw away mail that doesnt involve me-but I'll be more careful next time. I fell for Orchard bank's offer of a credit card. They gave me a $300. credit limit and the first charges for starting up the account totaled $286. Boy-did I fight that one. I won-but I was more careful the next time I got that kind of offer.
2007-07-25 21:46:36 · answer #2 · answered by phlada64 6 · 1⤊ 0⤋
Unfortunately it isn't just Citizen's Bank. This is just one of a number of 'hidden' costs they are slipping through. I used to throw all those envelopes away. Now I open each and every one.
2007-07-25 20:37:55 · answer #3 · answered by gldnsilnc 6 · 1⤊ 0⤋
Citizens Bank is not the only one doing it either.
2007-07-25 19:28:33 · answer #4 · answered by Tahavath 5 · 0⤊ 0⤋
Bank of America is another one who will screw up your account, charge you an over draft, even after they agree it's their fault and will correct it.
That's why I went to Wachovia
2007-07-25 19:32:09 · answer #5 · answered by dragon 5 · 0⤊ 0⤋
thanks for the warning...all banks are always trying something if you are a card holder...always keep an eye on your account...most can go on-line to monitor your cards, bank account, etc. Very easy to set up for on-line banking. Good luck
2007-07-26 15:09:59 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I understand some of the phone companies are charging you for not using long distance services.
HUNH?
Honest to goodness, it's true.
2007-07-26 08:58:38 · answer #7 · answered by felines 5 · 0⤊ 0⤋
report this to the media and the BBB
2007-07-26 21:36:39 · answer #8 · answered by Grand pa 7 · 0⤊ 0⤋
thanks for the heads up on the old cards,will try to remember this when i get old 57 now.
2007-07-25 19:36:34 · answer #9 · answered by gray bird 3 · 0⤊ 0⤋