FIA Card Services Complaint - FIA Card Service Ruining Credit And Furthering Economic Crisis
I had 2 cards which I secured from Amtrust Bank. The service company was fia card service. I also hold some cards from bank of America. Ba sent me a balance transfer offer which I wanted to transfer my balance from the amtrust cards to, so I proceeded to call fia services for some info. I spoke to a rate specialist, as he calls himself. I told him my intentions of transferring balances to ba. Without my knowledge he pulled my credit, at least that is what he said, and shut all my credit limits down with ba. Then he proceeded to inform me that ba, is fia card services as well, and American express as well.
This is not disclosed anywhere with ba, or Amex, or with fia card services. There should be a law on full disclosure. I was conducting financial business, and they hijacked my credit limits, which in turn effects my FICO scores, and future planning. If I had not called them to pay off the cards, this would of never happened, and to me this is unscrupulous, fraudualent and unfair financial business practices. They have the power to ruin peoples credit, and not disclose what they are doing or who they have a financial business relationship with.
I am a realtor for 30 years, and I have to disclose and have acknowledgements on any business affiliations whether it be financial or other wise to my clients. However these institutions that have the power to make or break your credit or fico, or lower limits, have no accountability? Tell me what is wrong with this picture, however these same people are who is responsible for the economic crisis, due to them approving you for these credit limits, and lulling you in to a false sense of security to transfer balances etc.... Then shutting it down on their paying clients who have not defaulted, to cover the losses they have already written off and got paid for from the stimulus and from us the tax payers whom are paying the freight on it all.
The law abiding person that makes their financial obligations is who is being punished and we will be paying for all that claim bankrupcy, and walk away. It is time Americal got angry, either that or lets all file bankrupcy instead of meeting our obligations, and walk away as most are doing right now. Hey, let the government pay our tab as well. Remember you will be credit worthy in 3 years, and not paying for everyone else that were living the high life.