Two Strikes Against Fleet
Written: Mar 18 '02
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Pros: Online application and service
Cons: They sell your info to 3rd parties -- Canceling jacks up your APR
The Bottom Line: A pretty average card with some below-the-belt gotchas: they'll jack up your rate when you cancel and they'll sell your info even after you've told them not to.
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| topolski's Full Review: Fleet Platinum Visa |
I opened my Fleet account in September 2001. I paid it off completely a few months later and then used my credit line again for Christmas purchases and I've paid them off today. I'm not using this card again -- in fact, it's already cut up.
While a cardmember, I didn't have too many highlights or lowlights to report. My charges and payments were posted in a timely fashion. My calls for service were answered in a reasonable time.
All my payments were on time. My 12.99 APR was fixed. If I was keeping this card, it would be the highest APR card that I carry. I would be calling Fleet and asking them to lower it, but based on today's activity, I'm just paying it off.
This morning I got an unwelcome call from someone who said they were from Fleet offering 25 free gallons of gas for trying out their additional service.
Several months ago, I told Fleet to mark my account for no marketing calls, no additional credit offers, and no mail advertisements. Despite this, I'm getting calls from Fleet or 3rd parties trying to sell me stuff.
This is bad for two reasons. First, banks should not be assuming you want this harassment in the first place. But most of them do and most of us have learned that it's just one of the hassles of having a credit card. Second, after you've asked them to stop, they're supposed to stop.
In fact, there is recent law on this. The Gramm-Leach-Bliley Act (GLBA) requires these companies disclose their privacy policies and give customers the opportunity to prevent the release of information to marketers. Now I'm not going to make a federal case out of a cold call. Instead, I'm just going to give Fleet the finger and cut up my cards.
When I called today, I asked about closing my account with the outstanding balance -- in protest of receiving the sales calls. I wanted to know if there would be any penalty for closing my account. They told me that my interest rate would be immediately raised from 12.99 percent to over 24 percent unless I kept the account open! Yep, it's in my Cardholder Agreement -- on page 7 of 12, SS 10(d)3(b). That's bad too. I wonder how many ex-Fleet cardholders got bit by that little hidden provision. It's a good thing that I asked.
So, in good consumer action fashion, the Fleet account will be canceled AFTER they receive my payment. And, in defense, I'm telling my story here on Epinions.com for all to read and be wary.
It's a nice field of flowers -- but beware of the landmines.
Recommended:
No
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Epinions.com ID:
topolski
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Member: Robert Topolski
Location: Hillsboro, OR
Reviews written: 23
Trusted by: 12 members
About Me:
I sing baritone in a barbershop quartet!
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