Crescent Bank

Crescent Bank Reviews

New Orleans, LA

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About Crescent Bank

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Crescent Bank is a New Orleans-based financial institution. While it’s best known for offering auto loans, particularly to borrowers with low credit scores, it has gained recognition over the years for its competitive checking and savings account products. However, most have high opening deposits and must be opened in person at a local branch.

Pros & Cons

Pros
  • High APYs
  • 14 branch locations in 8 states
  • Can open CDs online
Cons
  • Monthly service fees
  • High opening deposit requirements
  • Must visit a branch to open most accounts

Crescent Bank Reviews

Stars Rating

  • 13%
  • 15%
  • 7%
  • 3%
  • 62%

Popular Mentions

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    How do I know I can trust these reviews about Crescent Bank?
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    • Our moderators read all reviews to verify quality and helpfulness.
    Page 2 Reviews 10 - 40
    PriceStaff

    Reviewed Jan. 2, 2022

    If you're thinking about getting a car through a loan from this company I've but one word. DON'T! Don't be like me and others on this page who may have neglected to read in detail the small print. Don't let a car dealership tell you you're approved through this company even though you know your credit isn't that good...or maybe just downright bad. The dealership will tell you it's 10% compounded interest and so you may think (like I did) that this is monthly. People...IT'S DAILY so by the month's end you owe 10% of your loan X 30 days and they take that right off the top before applying anything to your principal balance so you'll be paying interest (thousands upon thousands) and you'll never see your principal balance shrink! YOU WILL NEVER GET THIS VEHICLE PAID OFF.

    By the time you're finished I swear, it's a down payment on a house. How the government allows this type of predatory lending is beyond me but this bank needs to be investigated/shut down. How they can do this without conscience, morals or couth can only come from cold hearted greedy ** that continue to rob people in tough situations. OK...I have bad credit...It doesn't give you the right to rob me. People, YOU HAVE BEEN WARNED. If you have bad credit...DO NO BUSINESS WITH THIS BANK OR YOU WILL BE SORRY. I GUARENTEE IT!

    Price

    Reviewed Nov. 30, 2021

    I understand more than you know you need a car. Work, family, emergency or just starting out. But do your homework. Do not use this company. You will never pay off the car. They will find ways to charge you. This place needs to be investigated and audited. The rates are a prison you will never escape. I feel that they take advantage of people and are predatory lending. No kidding. Never again. I will walk before I ever use this company again..I will review on site I can. At least I can warn as many as possible. Buyer beware!

    Customer Service

    Reviewed Oct. 18, 2021

    I know for a fact a baby can do better than them. I hate to call them... Whew lord... Do not get a car loan with them!!!! It will not be a good experience. They are something else to deal with. Hell. Hell.

    Coverage

    Reviewed March 19, 2021

    They financed me a car and I THOUGHT that I was getting the GAP coverage but when I totaled it in an ice storm several months later, they hadn't put the coverage on my loan and they are claiming that I owe them $3600 above the value of the car. Buyer BEWARE!!!!

    Price

    Reviewed Feb. 11, 2021

    I have been dealing with Crescent for 4 year stressful years. No one that know the account or can explain fees or how funds are applied. I paid $400 per week for an entire month just to see if any would go towards my principal after paying the interest that was listed under pif, although I was told they charge daily interest no one knows what the daily interest is or how/why all payments were only applied to interest only, that $1600 in 30 days, my normal payment is $445. I have filed complaints with CFPB and FDIC and they just sent a false letter of interactions with me and the case was closed, smh. This company is truly highway robbery and I will never finance with them again.

    Customer ServiceContract & TermsPunctuality & Speed

    Reviewed Dec. 20, 2020

    This has been a long process with Crescent Bank, (6 years), my loan is finally paid off. In the beginning of the loan, I fell on hard times and had to defer a few payments, all terms and conditions were read to me at that time, moving forward years later to loan maturity date and now it is time to pay the payments that were pushed back. I spoke with customer service at Crescent Bank and Trust who instructed me to continue making payments on my original due date, I called in to make my third payment on the deferment. Customer service said, I must set payments up in advance or my payments would no longer be accepted, so I did. Approximately two or three weeks later, I received a call from a manager at Crescent Bank and Trust telling me that making payments on a deferred account was unacceptable and account need to be settled today, 2,500.00.

    I explained to the manager that I was instructed by two of his customer service employees to continue making payments, and that I was only doing what I was told to get my bill paid off. I paid balance in full. Three months later I'm checking my credit score and noticed Crescent put on my credit 90 days late on my payment. I have spent the last 4 months trying to get this removed from my credit through Crescent Bank. I have been told by customer service my car is in repossession, I owe $ 3,000 on my loan, and "We can't help you." If customer service is there to give advice or direction and you follow that direction, you cannot be in the wrong, the car is paid off. I just need the 90 days late taken off of my credit especially after paying on time for 6 years.

    Customer ServicePrice

    Reviewed Oct. 16, 2020

    Loan was approved in 2019. Since covid, all payments went towards interest FOR 6 MONTHS, NO PRINCIPAL. So my balance became like it was upon purchase! Now I can't log in to the site to make a payment. Redirected to another site that doesn't allow for pay off quotes. Is this BANK FOR REAL? Do we still have to make payments? Can someone give me a reply, please?

    Price

    Reviewed Oct. 1, 2020

    This company is full off Thieves. It ain’t worth the time or Money. You're better off riding the bus than getting a loan off these people ever again and I hope that everyone that reads this go thru another company.

    Customer ServicePunctuality & Speed

    Reviewed July 24, 2020

    I’ve been trying 3 months to get into my online account. When I send a request for a new password, the system “verifies” your info by emailing a token code. When you enter the code plus additional info, the system states that the code is incorrect. I called the bank and was told, “I don’t know if I can help you with that but I can make a payment.” I told her “no” that I wanted to see my account and make the payment online so I needed to speak to a technician. The reply was, “Ummmm let me see if I can find someone here who can help with that.” I eventually hung up. My experience with this bank is that they conduct fraudulent moves to force payees into making late payments that they’re able to profit from. How sad.

    Customer ServiceStaff

    Reviewed May 11, 2020

    I am a caregiver to a disabled Veteran (U.S Marines). This poor guy had a car loan through Crescent Bank. An inattentive driver totaled his vehicle on February 2, 2020. Although the other driver's insurance company has paid $19,351.48 on the car, and GAP has sent over $4,000.00 (when only $2,000+ was the left over balance), Crescent Bank has refused to relay this information to the credit bureaus. They told me directly that either I or the Veteran has to contact the credit bureaus to get the $31,000.00 balance removed from the credit bureau records. And, why is $31,000.00 on the credit bureaus?? The payoff was just over $22,000.00, and has been paid by the insurance company and GAP!! In fact, Crescent Bank owes this disabled Vet the overage paid Crescent Bank by GAP!! With all of the horrible reviews here, as well as on the Better Business Bureau website, why has there been no change in this bank's business practices?? Why has there been no class action lawsuit against them?? As I am writing this, my disabled Veteran is filling out a request for review on National Consumer Law Center!! This disabled Vet cannot purchase another vehicle to get to his V.A. Doctor appointments, go shopping, etc., because Crescent Bank will not notify the credit bureau that he no longer owes them for the car! Legally, the insurance company for the driver who caused the accident, and GAP, have paid the amount legally owed on the totaled vehicle...so, why is Crescent Bank leaving $31,000 on the credit bureaus when the payoff of $22,000.00+ has been paid??? This is truly unconscionable!!! WHERE CAN THIS DISABLED MARINE GO FOR HELP? I am writing this review because I am handling all of the physical and financial affairs of this Veteran...he is so calm about this, yet I am dealing with the rude people at Crescent Bank and am really fed up!! HELP!!"

    Customer ServicePunctuality & SpeedStaff

    Reviewed Nov. 15, 2019

    I bought car with a loan through Crescent Bank and Trust about 5 years ago and recently paid my car off last month. The experience with them has been the absolute worst. I would always pay my car earlier than the due date and plus extra but when I did and my payment came around, they said I was still late and that I had to make a payment which I didn’t understand. If I paid early why would I still owe for that month. Each time I did that I got late fees. I would have to call them each time I wanted to pay early so they would apply it for that month's payment so I wouldn’t be considered late. Customer service was horrible and most of the time rude when you asked questions.

    Recently I paid off my car and got a notification from my credit monitoring that I was past due when I have paid the loan off! I was supper pissed and upset because of their false report. Made my score drop 50+ points! I was beyond livid and called them, and the lady I talked to said, "Yes you don’t owe anything. Your car is paid off," and when I asked why they would report that I still owed money she simply says it was a mistake! I was even more upset because she did seem to care or apologize for the mistake and told me that I had to file a claim to get this fixed!

    If I knew then what I know now, I would never do a loan on a car. It not worth it and the rates are ridiculous. You end up paying almost half more than the value. I see why their rating is 1.3 which is actually nice because they need a -10 just because the customer service is so horrible. Please stay far away from Crescent bank and trust. They don’t care anything about their customers. You have been warned!

    Customer ServicePunctuality & SpeedStaff

    Reviewed Oct. 13, 2019

    My experience with this "bank" is one that I would love to forget. I was late on a couple of payments due to job downsizing and when I informed them about my situation, I was told that my payments would be put on the "back end" of my loan, which would have made my final payment due in June of 2020, which was no problem, Here's where the problem came in: the harassing and nonstop phone calls. I would NOT recommend this company to anybody and if I had known the reviews of this company before purchasing the car, I never would have done business with them. They are rude, unprofessional, and will barrage you every day all day. Please do not consider this company for anything.

    Customer ServicePricePunctuality & Speed

    Reviewed Sept. 25, 2019

    I am a little bit confused. I got a loan from Crescent Bank. It was for my pick up truck and it cost me $345 a month. I paid the loan for five years. I have one more payment on the truck. I got sick and I went to the hospital and I missed 2 Payments but I called and I made arrangements and this company worked with me beyond what they should have. I paid the loan for five years. I have one more payment on the truck. They rolled my payments Forward for me two times due to health issues.

    If you wanna first time loan and you have bad credit this company will work with you. I have had very good experience with this company. If you can’t pay your payment call them and make an arrangement. If you do not make an arrangement then they’re going to come get your stuff. It’s common sense. You got understand that it's investors cash they’re using. They can’t just let it go. This company is based in New Orleans. It’s an American company. I got in a car accident and the whole front end of my truck was wrecked. I fixed it and I was sent the check from my finance company to me. The check came from my insurance company.

    I see a lot of bad reviews on here but I will be honest with you. I feel it’s because people don’t pay their bills on time because I’ve never had a problem this company not one. I wish their call center wasn’t in the Philippines and it was in the United States. Thank you for reading my review and I promise you on my life I’m telling you the truth about this company. Yes they might charge a little more for interest and yes they might charge five dollars a day if you don’t pay your payment on time. But what do you expect for a company that is giving you thousands of dollars when you don’t have a history of paying it back...

    Customer ServicePrice

    Reviewed July 1, 2019

    I got a loan through this company in Feb 2019. After making double payments every month to bring down my principal balance I noticed that I was being charged $10 a day interest on top of my interest already added to my total from the beginning so in essence. I pay $500 a month (2x) for a total of $1000 a month. Basically I am 4-5 months ahead on my payments but they calculate daily interest from your payment date to you due date. so if I'm 4 months ahead that's 120days... ($1200 added interest.) When I called them out on this I was told that they are just the collection agency for my loan not the bank. I asked for the bank's info. I was told they didnt have it available. Please dont not set yourself up by using this company. I have been put on a block list. They can speak ENGLISH but act as if they dont understand what you are saying when you call. BE CAREFUL!!!

    Customer ServicePunctuality & SpeedStaff

    Reviewed May 2, 2019

    My uncle who's a marine vet purchased a Nissan Versa from them and he was paying on time every time for the better half of 4 and a half years. He slipped into a coma as well as the transmission went on the car all around the same time. They constantly called and called so I got around to speaking to them and I was fed a bunch of lies as well as his balance owed on the car. So a long story short they sent a very disrespectful repo man out who used some very hateful and disrespectful words and to top it all off the car he was repossessing was in the back of a car that wasn't in repossession. Well lo and behold he put the car that had nothing to do with anything on his tow truck and slammed it into the middle of the street and threatened to splatter a woman all over the driveway just to get the car he was repossessing! And he said he does what he wants! I just want all buyers to beware!

    PricePunctuality & Speed

    Reviewed Feb. 23, 2019

    I am a finance manager at a car dealership. My boyfriend got a loan with this company with a high interest rate because he was first time buyer and just didn't have credit. I handle all of our bills and pay every month on time. I noticed after paying for 14 months our payoff was not going down at a rate appropriate to an amortization schedule of our interest rate. I was finally able to get ahold of someone who spoke English and they mailed us the amortization schedule, I was right. They had my payoff at $14,134 which is off by almost $1,000. They are stealing your money so if you have a loan with them I suggest you have it audited yearly and request your amortization schedule.

    Verified purchase
    Customer ServicePunctuality & SpeedStaff

    Reviewed Feb. 9, 2019

    I was financed through this company in 2015. Pay my car note every month. They give you a 10 day “grace” period but call you everyday. 4, 5 and 6 times a day in this time frame. I have NEVER been more than thirty days behind on a payment. I am currently 28 days late and these people came and put a hand delivered note on my door! For what?!? They harass me constantly and I pay my car note! Then whenever you call to talk to someone they ask 50-11 questions! I hate this company and I pray that they go bankrupt so that they won’t be able to keep getting over and harassing people! Additionally, I pay a portion of my car note once a week and yet my payoff balance has gone up?? It was just at 11,000. It is now at 12,500??? I’m at the point where I just want to take the car back!

    Customer ServiceStaff

    Reviewed Jan. 24, 2019

    Made many attempts at contacting a representative in the United States. All have failed, but one. This person assured me a chargeback for the accidental double charge that was made would process in about 2-3 business days. It has been over a week. The call center in India wants name, DOB, address, telephone, bank statement, account and routing numbers to process refund despite having acknowledged that they had accidentally taken two payments. Will be contacting State Attorney General and SEC to resolve problem. DO NOT CHOOSE OR RECOMMEND THIS LENDER. THEY DO NOT HAVE RELIABLE CUSTOMER SUPPORT.

    Customer ServiceInstallation & SetupPunctuality & SpeedStaff

    Reviewed Jan. 15, 2019

    I paid off my loan in full. They dropped my credit score 113 points by saying I paid late. I was given the wrong mailing address. I called the offices and they said the post date on the envelope will be the pay date. The company refuses to stand by their own instructions. One customer service person even said write a complaint to the credit bureau instead of making the matter correct. Do not deal with this shady company. I have never been late on any payment to this company. So when I call ahead and get the instructions on where to send the payment, now the company say my final payment has been assessed fees.

    Reviewed Jan. 7, 2019

    I bought my van in 2014. Never missed a payment and paid December 2018 payment. Then get text saying my payment of $6481.00 is 11 days past due two days later. I called them and they said my loan matured and I owe them that amount ASAP. They will not refinance the remaining balance and said they will accept my regular monthly payment but it will be reported on my credit as outstanding unpaid debt??? My credit isn’t good enough to get a loan nor do I have anyone to co sign. I’m a single mom of three children on a low income. I will NEVER buy with this company again!? I will have my attorney after this company ASAP!

    Customer ServiceContract & TermsStaff

    Reviewed Jan. 3, 2019

    I had a car loan with this horrible company and yes I fell behind on my car payment but instead of giving the car back I did what was the only right choice. I contacted them and made a settlement agreement on the price they would take to closed the account leaving my credit free from a repo listed and they agreed to 20,000.00 and I had a dealership willing to buy it for that exact amount after a good month of working with this lender and looking for a dealership or individual to purchase the vehicle. When we agreed to the settlement they gave a deadline. Well for a week before the deadline, myself, the dealership and their managers who called the bank and authorized them to talk to couldn't get them to fax over the payoff sheet. I called them. Everyone on this deal tried to get my lender to fax the payoff sheet which was in 100% completing my end of our agreement to settle the loan by saying it for the agreed settlement.

    They broke our agreement which was all on recorded phone conversations the entire time. I have proof of their breaking our agreement, proof I had the thing sold and proof they have now sold it for 12k less than our settlement agreement was for and have came after me for the amount. I call this unethical, I call it ** and I call it injustice against me by them. They ruin my credit by what they did and have done since this happened. I say buyer beware. Steer clear from Crescent Bank and Trust as possible. They are bad and they do this same thing to as many people as possible. They have bad reviews because they complete garbage and shouldn't be allowed to do business in this nation.

    Punctuality & Speed

    Reviewed Jan. 2, 2019

    This bank lender canceled my warranty and gap insurance without notifying me through the mail or getting a required notification consent. I found out a year later when I took my vehicle to the dealership. I dutifully admit I got a few months behind on my car note, but my car was never repossessed as I immediately got caught up and didn't miss a payment after that. My car note never changed. Matter of fact, I built a relationship with my loan manager and we talked quarterly. And it was never a mention that it was canceled or was I made aware of on the recorded lines when I made the payments, GAP and WARRANTY were canceled. If it wasn't for my car issues, I would have gone into year number two without knowledge. This was unlawful and illegal. I no longer have them as my lender. My advice, find yourself a more reputable lender.

    CoveragePriceStaff

    Reviewed Dec. 29, 2018

    My wife and I bought a new car in 2015, took a loan out for 26,000. In just over 3 years we paid it down to 18,500. In 2018 my son got into an accident and the car was totalled. Geico covered the 10,000 the car was worth, yeah that's how bad they nailed us on interest. Anyway so are GAP kicked in through Crescent Bank. They only paid 4000 and left me and my wife with a 4000 dollar debt to still pay... For 3 years they were the worst people to deal with. I highly recommend you look elsewhere. They are not worth your time.

    Price

    Reviewed Dec. 27, 2018

    Do not, I repeat DO NOT finance with Crescent Bank And Trust at all. ESPECIALLY in Louisiana. Their interest rate is through the roof no matter what, and they lie about late and missed payments to grow interest. They repossessed my Mazda and never put a closeout bill on my credit. So the loan is just continuously growing.

    Customer ServiceCoverageStaff

    Reviewed Nov. 12, 2018

    This company is disgusting. They lie constantly and then try to cover it up. NEVER will I go through them. Jenna (Recovery Manager) is rude and hateful. Attempted multiple times to ask questions and understand and she constantly interrupted me. Waiting on a call back from Carla the AVP/call center manager.

    Staff

    Reviewed Nov. 9, 2018

    This account is currently being disputed for several reasons. Long story short, I got the vehicle in July 2013, approximately 1 year while going through a divorce and being a single parent of 4 children, I fell on hard times. I had a family member in need of a vehicle who agreed to take over payments and use of the truck. Fast forward to 2017, that family member told me she was having issues, advised at the time she was already 3 months behind (approximately $1,200). As I was now in a better situation, I was able and willing to just pick up on the payments. I got the vehicle back from her on Friday February 24, 2017 and Monday morning; February 27, 2017 when I went to leave for work, the truck was gone. I called Crescent Bank & Trust immediately, explained the situation and also advised them that I had the money to bring the account current and move forward with on time payments.

    Well, while I didn’t know this was possible but, they told me “we can’t release the vehicle back to you”. So although I had the funds to bring the account current at that very moment, they refused and instead decided to proceed with repossession, and even later decided to try to take me to court for the account. Most recently, I’ve come to learn a few things: • They’re reporting the account multiple times on my credit report; • The account is reporting CHARGED OFF and simultaneously OPEN which is extremely conflicting information; • Monthly payment due to the $11,472.00; This is extremely unfair and just not right. • They’re reporting the account multiple times on my credit report; • The account is reporting CHARGED OFF and simultaneously OPEN which is extremely conflicting information; This is extremely unfair and just not right.

    Punctuality & SpeedStaff

    Reviewed Aug. 3, 2018

    I never been behind on a payment until I hit a deer then I got behind. I told them when I would pay the payment and they kept calling and calling then I had a note on my door. I wasnt even 2 weeks late. Now I'm debating on paying my next payment or using the payment to file bankruptcy. They are the most rudest place I have ever used. I only have 16 payments left. Never use this bank. I regret it now.

    Customer ServiceStaff

    Reviewed July 12, 2018

    I financed my vehicle with Crescent Bank almost two years ago and never had a problem with them...until the past two weeks. Two weeks ago I traded in my car and went with another bank. Crescent was called to get a 10-day payoff. When I was trading my vehicle in, the salesman made the remark that he had heard some really bad things about Crescent Bank. I advised him that I had never had a problem with them. So, they call me this past Monday about my payment and I advised them that I had traded the car in. What was very odd is that they called me at work first. They advised me to call the dealership to follow up and let them know.

    I received three more calls from them that day (on my cell phone)-one being later that night. I called them back and advised that I had already spoken to someone and not to keep calling me. Also advised them to not call me at work anymore. I was off work Tuesday and Wednesday. Came in this morning and had three voicemails from them at work even though my voicemails stated I was out today. No phone calls to my cell phone. I called this morning and asked to speak with a manager. This request was not allowed-so very unprofessional. I advised the lady that a check was overnighted on Tuesday. She was very rude. I advised her that they are not to call me at work again. Don't go with this bank. Not worth the hassle.

    PricePunctuality & Speed

    Reviewed May 14, 2018

    Crescent Bank should be immediately shut down for their services & fake policies. This is possibly the WORST BANK! to finance with. Like some of you I was sold a dream & thoroughly LIED TO!! I purchased a vehicle from Jim Burke automotive two years ago in the wicked dumb City of BIRMINGHAM, AL (the worse & dumbest place on God's Earth) & I will admit I was younger than but still was aware of the pros cons of financing a car through a bank. Well my credit was not sufficient enough to get a decent APR on a loan so Crescent was the only one & the crooked salesman completely lied to me informing me I would be able to refinance with Crescent in a year to lower the payment & that they will work with me! Completely false.

    Crescent bank will not only steal your money but they will criminally harass you & stock you & leave intimidating voicemails threatening to repo your vehicle & sure you if you're just 1 day late!! Then the interest just accumulates every day even in the grace period so your literally throwing money away just to keep the car nothing goes towards your principal this place is a SCAM.. this bank should inherited the name Crescent Mafia because that's all they are they pray on the less fortunate & poor & completely take advantage of them practicing Mafia tactics! Stay away from the crescent bank mafia family. You've been warned!!! I had to give my car up due to misinformation on their part & the car salesman they all sleep in the same bed together!! STAY AWAY FROM CRESCENT BANK MAFIA FAMILY. THIS IS NOTHING LESS THAN A CRIMINAL ORGANIZATION.

    Staff

    Reviewed April 13, 2018

    How Does Gap Insurance work if your car is totaled? You file a collision claim with your insurer and find out that the actual cash value of your vehicle is only $19,200. This means after your $500 deductible is taken out, your car insurance company will pay out $18,700 to your lienholder. You still owe $23,500 on the car, so you're left with a “gap” of $4,800.Jun 24, 2011.

    Crescent Bank & Trust is abusing my credit report. The car was sold at an auction by a mechanic (Crescent Bank has the mechanic contact information). This mechanic refused to take my insurance information. He sold me car and Crescent bank refuse to do anything about contacting the Geico insurance during that year to provide gap information. Now Crescent is still saying I owe them and abusing my credit report. The next step is taking it to a global level and having Crescent Bank shut down if they cannot handle this matter immediately. I know a few people who is experiencing this same situation. Will not disclose her name. She file bankruptcy and included debtor Crescent Bank and they are still abusing her credit report. This has got to stop!

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    Crescent Bank Company Information

    Company Name:
    Crescent Bank
    Website:
    www.cbtno.com