COLUMBUS, GEORGIA -- I started my first business with perfect credit. I could have gone with any number of companies to get my business Visa, but unfortunately I chose First Equity Visa. Big Mistake! They gave me a $5000 credit which was barely enough to cover my monthly expenses, but I paid it off in full every month. One month the bill was misplaced because we were moving offices, and I paid "in-full" two days late. First, the card was frozen for 10 business days. Second, not only did I get a late fee (as expected), but they cut my credit down to $2000! Third, the customer service reps are just some call center that can't help at all and has no authority. They won't allow you to speak with management, nor give a number to contact anyone who is actually at First Equity. Now that they cut my credit I have to pay almost every week so that I always have enough room. Well, I was told that if I paid through their website it would register in my account by the next day-- that's a lie. No matter how you pay (even instant online transfer) they hold your money for 7 business days until they apply it. Sounds illegal to me, but the real problem is that I've got a credit of $2000 and a balance of $966, but I only have access to $34 because my online payment of $1000, received 3 days ago, hasn't been applied yet! Crazy frustrating!! If you want to deal with this headache every week then by all means, sign up with First Equity. Otherwise, use any other credit card company you can find!!
COLUMBUS, GEORGIA -- I called yesterday to close my account and pay off the balance. They did not close my account properly and assessed me a nearly $60 "cycling fee." I am pursuing this every way I can.
I have no guarantee that if I paid them this that would even end this problem.