Fleet Bank not a good idea
Written: Aug 01 '00
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Product Rating:
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Pros: none that I could see
Cons: misleading advertising
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| peragro's Full Review: Edvance(r) Platinum MasterCard (Fleet Bank) |
I am fairly careful when I sign up for financial items such as credit cards. This is why I felt it would be a good idea to try the Fleet Bank credit cards. When I received their solicitation in the mail the catch phrase was, to the best of my ability to remember (I sent the form to Fleet so I don't have it to review), "0% APR, transfer your high interest rate credit balance today". I did as was suggested figuring that I would get the intro rate of 0% APR on my transferred balance. To my recollection there was no information in the fine print about a different APR for balance transfers.
When the credit card came in the mail I read the small booklet that was sent with the card. In the book the balance transfer was specifically exempted from the introductory rate - news to me. In addition, I could find nowhere in the enclosed literature what the actual rate for transfers was, since they were specifically exempted. I eventually had to call the customer support and ask. The rate was 10.99%, which is not that bad, but it's the principal of the matter (I thought I was getting 0% APR), I can and did do better with another company.
I intend to cancel this account when I find out exactly how much is owed. In the fine print it points out that if you cancel with a balance then the interest rate changes to much higher.
Fleet bank, in my opinion, uses very misleading advertising to acquire new customers. I don't have to support that by being their customer. Furthermore, I can relate my experience to others so that they can decide if they wish to be customers. Integrity is important and should extend to the corporate world as well as the personal one.
Recommended:
No
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Epinions.com ID:
peragro
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Reviews written: 4
Trusted by: 0 members
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