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Topics: Credit Cards |
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| Save Your Bank Records and Keep Receipts |
Submitted by:
anonymous 04/09/2009 5:01 AM
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Beating the Big Bad Banks
This advise is for anyone who has a Credit Card. I was offered a 0% interest rate for 12 months. Sounds Great! So I took my husband's high interest rate and transferred it to my Citi-Upromise account. Savings approximately $175.00 per month.
It turns out that Citi was purchased by Bank of America. That was the beginning of my nightmare! [Editor's Note: Citi was not purchased by Bank of America rather Upromise switched affliations from Citi to Bank of America.]
I called Bank of America to get my new balance and much to my surprise; it indicated that I had interest of $116.00 for a Cash Advance!!! Upon much runaround, I called the following day, spoke with a CSR. Of course she didn't see the offer given to me from Citi for 0%. So I asked to speak with a supervisor.
The Supervisor indicated that it was a cash advance and not a balance transfer; and that she didn't see the 0% interest rate offer. OF COURSE THAT INFORMATION DIDN'T TRANSFER OVER FROM ONE BANK TO THE OTHER. SO THEY HAVE TO INVESTIGATE THE MATTER. HOW CONVENIENT.
So I decided to run my own investigation! I searched my documents sent to me by Citi, less then 1 year ago. YES!YES!, I found the proof that I needed. It indicated the offer right on the sheet that holds the credit card(s). NO EXPIRATION DATE ON THE OFFER. THE SAME INFORMATION THAT WAS GIVEN TO ME DURING THE DAY OF THE BALANCE TRANSFER. NOT CASH ADVANCE!!!!
My tip to everyone. We all have shredders at home but NEVER NEVER, NEVER SHRED THE BIG BAD BANK DOCUMENTS/STATEMENTS.
I'm not sure what BANK OF AMERICA will come back with. Banks have the power to change their minds and or offers. During these hard times, if the BANKS ARE NOT benefiting from the little people, they want to change rates, drop credit line(s), etc.
I'm not defeated just empowered to make them do the RIGHT THING! :)
Frugal Flo
Photo credit: Tom Lemos |
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