Charter One Equity Line Complaint - Rip Off, Misapplied Payments

Review by myway on 2007-08-11
PROVIDENCE, RHODE ISLAND -- On several occasions, they have not posted payments in timely fashion, have proof the received payments prior to due date but would not post payment until 15 days later thus, creating late charges...

Misapplying $600 payment as a $60 payment thus creating more interest, battled for 3 months to get late charges and over calculated interest removed!

Calling their consumer relations call center was total waste of time. They are actually a part of Citizen Bank Riverside RI.
Comments:3 Replies - Latest reply on 2007-08-11
Posted by Anonymous on 2007-08-11:
Somehow it always takes 10-15 days after they receive payment to apply it. Yet in the electronic world transfers happen almost instantly. You should not be penalized for their errors in misapplying payments. Contact your state bank board to file a complaint.
Posted by Ponie on 2007-08-11:
Sorry you're having problems. I've been with Charter One for years and have never had any trouble.
Posted by Sparticus on 2007-08-11:
I was with Charter One for a few years... Loved them... until they started charging me fees for every thing. I had originally signed up for all no-fee accounts... Then somewhere along the lines that all changed. I gave them a chance to fix it and get me on some no-fee accounts. They pretty much said tough luck. So I dropped them. I'm now with Citibank and quite happy... and I have no fees again... =)

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