MICHIGAN -- I have a small savings account at Bank One that I primarily used for overdraft protection. Bank One seems to have this policy in which they classify accounts that have not had deposits/withdrawals within a certain period of time as DORMANT, in which after they are classified as DORMANT - they basically seize your money. I have called Bank One and sent them emails to remove the dormant status of this account - but have been unsuccessful as they state that I am required to visit them in person or write them a letter (I thought that was what I was doing when I sent them an email from my via my online account...).
What is really ridiculous about this is that I have several other accounts at Bank One and this one in particular is linked to my checking account - which is very active. I feel that Bank One's policy on this issue is basically an attempt on their part to steal our money. Has anyone else had this very unpleasant experience with Bank One. I am so angry about this that I am now researching other banks and will never use them (or Chase) again.
DELAWARE -- I made a loan a couple of months ago on my credit card for 20,000 at 5.99 percent for the life of the loan. I had credit at first USA for 8.99 percent max. But I got my loan paid off 3 years ago. I needed 20,000 dollars to purchase a mobile home for my son. I got an offer from Bank One at 5.99 percent for the life of the loan so I took it. In the meantime I was 3 days late on my 3rd payment and the interest jumped to 15.99 percent. I never signed any agreement for 15.99 percent because I had 8.99 percent at First USA. Bank one ripped me for at least 300 dollars before I could pay them off. Burn me once shame on you.
NORTH CAROLINA -- After 8 years as a Bank One Platinum Visa customer, the company decided one day to increase my interest rate from 12.99% to 19.99%. The reason given was that I had "too much outstanding unsecured debt". Most of my outstanding unsecured debt was, in fact, with Bank One.
My spouse became ill shortly after beginning a new job and was not able to work for several months. Because she was in a new job, her health care insurance and disability benefits were not yet in effect. We were FORCED to use the $18,000 credit limit Bank One "generously" extended to our Visa to buy groceries, pay utility bills, make house payments, etc. This explanation had no bearing on Bank One's decision to rip us off through an interest rate increase. My advice to you, if you do business with Bank One - BE CAREFUL!
I had two Bank One Accounts, a Southwest Airlines Visa and a Holiday Inn Priority Club Visa. Credit limits of $14,000 and $10,000 respectively. I have kept both these accounts paid on time, paid more than the required minimum for the entire 3+ years I have had the accounts. So imagine my surprise when a month ago I received my bill for the Holiday Inn card and they had more than doubled the interest rate from 13% to 29.9%!!! Their explanation was that my credit score was the reason. And they claim to have sent an advance notice which I never saw.
Fast forward 30 days and guess what? They wanted to pull the same number on the Southwest card. Slight miscalculation, the fact that I have extensive assets in the stock market. Liquidated an insignificant percentage and paid the fools off. So beware of the promotional sales pitches. Their scheme is to suck you in deep to a point they think you will be unable to resist and then stab the interest rate knife in your back and twist it. BEWARE! Not everyone will be as fortunate as I to have the resources to pay them off. Don't be a sucker... They are financial terrorists...
NEW JERSEY -- This credit card company unfairly increased my interest rate from 11.99% to 24.99% with the only explanation being I have TOO much credit. When trying to discuss this with "customer service", I was basically told "I should have done something sooner when my interest rate was still good" - WHAT? The rep was no help -and- quite rude. I'm done with them.