Consumer Complaints and Reviews
I opened my RBS credit card statement and was stunned to see that they doubled my minimum balance. When I called, a customer service rep claimed because of the new law backed by President Obama, there was a doubling of minimum payments across the board.
I then canceled my credit card after explaining to the rep how are destitute people supposed to pay their bill. She claimed that all the credit card companies are doubling their minimum payments. If this is accurate then there will be a lot of people not able to meet their payments. If all the credit card companies do business this way, then the economy will never recover. I think this is very unfair and someone should look into their practices.
This company raised my interest rate from around 12% to over 20%. The notification was just a small sentence on my statement, so I didn't realize that it had been raised until 9 months later. I have A-1 credit and have never missed or been late on a payment.
When I called to inquire, the company was not willing to negotiate stating that everyone got the same increase. I immediately wrote a check and paid them in full. I also cut up my card and enclosed it with a note along with the payment. Two weeks later they had the audacity to send me another card.
A week later, they sent me a bill for $16.07. I called again thinking it was a mistake. A supervisor informed me that because I did not pay off the total amount for two months in a row I owed interest for the three weeks prior to my making full payment. This company is such a rip off! I will never do business with them again.
After June 22, I kept getting mailings from RBS, first about an update in my credit card agreement and then balance transfer checks! So I called about it. The gentleman that took my call was sympathetic, but informed me that the account could not be reopened and that RBS is not accepting any new credit card applications. I wonder if they are getting ready to shut down their credit card division or sell it to someone else?
The result is that my credit has been damaged. I have lost available credit, I now have a bank canceled credit card on my record, my debt to credit ratio has gone up, and since I had the account since 1996, I have lost an account with a long history. What did the RBS person offer? Nothing. He apologized for that and that was it. I will never do business with them again.
I had a payment plan with RBS Mastercard; money was to be withdrawn from my checking on May 31 2010. When I knew I wouldn't have the funds, I immediately called 5 days prior to cancel. We agreed that two withdrawals would be made in June instead. However, on June 2, I saw "Debit Pending" on my checking account; a supervisor at RBS told me that it was for the June 15th withdrawal. She lied. It did come out of my account on June 2 and now my rent check will bounce.
When I asked RBS for my money back, I was told that I lied, because the money was there. Have you heard similar stories from people? I know that credit card companies are playing hard ball with people these days but I called every day for a week, crying and pleading to the sales associate and her supervisor not to take the money out. Do I have any recourse?
This company raised my purchase interest rate from 6.99% to 17.99% effective 9/09, clearly without cause. Then in October 2009, I unfortunately made my payment one day late and received notice that my promotional balance transfer rate of 6.99% would be increased to the now higher purchase rate. The majority of my balance on this card is for purchases. $39 late fee, large increase in interest and larger minimum payment due. I opted out of the promotional rate increase and may see my minimum payment increase even more.
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Yesterday, my parents received their credit card statement in the mail. They have been using RBS credit cards for quite a while now. I do not know how long they have been using them, but the card they have now is a MasterCard. Before RBS, the card was a Visa Platinum card with a 9.99% fixed rate. Then RBS bought out the bank that was using Visa and switched the cards to MasterCard. So yesterday, my mom was reading over the statement and asked me what this meant below their balance. I read it and guess what? RBS was jacking up my parents' rate from a 9.99% fixed APR to a 19.99% variable. I told my dad that he needed to call RBS and tell them that it's ridiculous to raise their rate seeing they have never missed a payment on their credit card.
He called and spoke to several people and he was only able to get RBS to come down to 12.99% APR. I don't know if that was fixed or variable. He used me as an example of what my credit card rate is, which is through Bank of America. My rate on my BoA AMEX rewards card is a 9.90% fixed with no annual fee. He also told them that I'm 21 and was able to get a credit card with a better interest rate than them and I have worse credit than they do. Imagine that? I know for a fact my parents' credit scores a few years ago were almost perfect. My dad, I believe was sitting at 838 and my mom's was at 840. With having good credit like that, should they not be entitled to a low APR as they pose low risk, if not no risk at all? Also, my dad told them that I was able to find a card that had a 7.25% fixed APR, no annual fee, no balance transfer fee, still they would not move from the 12.99% APR. Therefore, he cancelled the card and will be applying for the 7.25% fixed APR card that I found.
I have a theory that would explain the rate hike on my parents. Congress just passed a bill and was signed into law by President Obama to overhaul the credit card industry. These credit card companies want to suck every last penny out of American consumers regardless if they are low risk or high risk. Shameful business practice on the credit card companies for punishing good people, who are on time with payments and have been a customer of theirs for 10+ years. Words to people out there. Make sure you check your interest rate monthly to make sure you won't be slammed by rate change unsuspectingly. Do your homework as I have done to become a better-informed consumer and not be screwed by corporate America that does not care about the hardworking middle class Americans that we are.
I am not sure if this is a "Legal" practice or not. I fell behind on some payments. They called and left messages at my apartment. I couldnt get back to them when they were open. So they took it upon themselves to contact my Sister and Father and left messages for me. Not sure if they contacted my Brother since I have not spoken to him since Moms Funeral last year. They used the excuse that my Father and Sister were listed as "Relatives". Which I never did. I asked them not call my father again. A week later they did. Now I need to contatc the state to see if its "Legal" for them to do this.
Oh yeah, They basically told me not Pay the apartment rent and pay them $105 by 3/31. To prevent a Charge Off. Even when I explained I dont have it.
I pay this credit card off in full almost every month. I generally charge about $2000 per month on the card. In January I paid all but $500 off on the card.(charges from December) The card was paid off in full the next month. Over the course of 2 months I was charged finance charges totalling $55.60. (part was charged on the February statement, then continued on the March statement, even though the card had been paid off in full the prior month) I was told by the company that any time I don't pay the card off in full, they begin accruing finance charges on the daily balance of my account. All in all I paid $55.60 in finance charges for carrying over a balance of $500 for one month!
When I called the company to complain, they could care less, and told me that if I read the fine print, this is their policy. I feel this is a very dishonest practice to the average consumer. When I explained this to them ,and that I did not understand the policy, they told me they would not remove any of these charges. I explained to them that I would have never used this card to continue charging had I known that at this point they were going to start charging interest on EVERYTHING I charged, regardless if it was due or not!
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