Please note this part of the terms: "..upon any closure of your Account....we may immediately convert the...Rate... to a 24.9% ANNUAL PERCENTAGE RATE". Don't fall for the "may" part. They WILL!
That's a new one to me. Clever of them, and dangerous to us. Thanks for the new and interesting information. That's the reason that intelligent people want to visit this message board.
Actually considering the usurious penalty rates in the excess of 30% being charged by such banks as Associates and Providian and no doubt soon to be matched by other banks this 24.9% seems tame in comparison. Worse still are the crooked banks such as First National Bank of South Dakota (to name one) that charge you a fee (typically $25) to cancel your account. What a ripoff.
AMEN !!! BEWARE THE "BAIT AND SWITCH"OFFERS EVERYONE!!!!FLEET IS NOT INTERESTED IN CUSTOMER RELATIONS ONLY RIPPING YOU OFF AND BLAMING THE LITTLE GUY FOR THEIR DECEPTIVE PRACTICES.WARN EVERYONE YOU CAN @!!!!!
You could write Fleet Bank's CEO at his home: Leo Breitman 58 Dean Rd. Weston, MA 02493 I'm sure he gets his own mail at home.
