First USA Platinum?

Discussion in 'Credit Talk' started by steve, Feb 12, 2001.

  1. steve

    steve Well-Known Member


    Included in my wife's bill was one of those little cards you usually just glance at. This one, if we're reading it right, says her rate will raise from 13% to 22% sort of out of the blue at the end of the month.

    Long term customer, never late, double the income she had just a couple of years ago, etc. Does First USA have some sort of strange credit conspiracy going on? She'll be making phone calls tomorrow. We just found it strange and wondered if anyone else had this happen.
  2. jamie

    jamie Well-Known Member

    I think what they are saying is that you must make atleast a min payment every month. No more paying more than the min. one month and nothing due the next. If you fail to make the monthly due, your interest rate goes up on your next bill. As long as you make the min. due "every" month, your interest rate stays the same.
  3. Saar

    Saar Banned

    Sounds like normal FUSA business practice. As Doris K said, FUSA requires prime credit but only offers subprime products and customer service.

    You can probably have it reversed, until the next time they try to pull something. The only way to avoid it is to move to a reputable lender, e.g. Capital One, USAA, Wachovia, MBNA, Chase, Citi or Amex.

  4. Saar

    Saar Banned

    Jamie wrote:
    "As long as you make the min. due 'every' month, your interest rate stays the same."

    Not with FUSA, Fleet and the like. But true with most other lenders.

  5. ED

    ED Well-Known Member


    First of all Steve, I should tell you that First USA is a bank was recently successfuly sued and convicted in federal court for wrongfully charging MILLIONS of dollars in late fees to hundreds or even thousands of their hard working customers.

    Steve, I can honestly tell you that applying for this First USA card has been one of the biggest mistakes of my life and that I wish I could take back.

    It would really not surprise me if they would try to sneak an interest rate hike in a little hard to read paper mixed in with all the junk mail that they send with every bill. Do not let this bank do this to you, if you or your wife have a perfect payment history with this bank, DO NOT let them do this to you, call them immediately and complain about this uncalled for rate hike!!!

    And if they refuse to be helpful then CANCEL the card!! There are plenty of companies out there willing to help you, dont let these assholes take a penny of your hard earned money!!!

  6. dave

    dave Well-Known Member

    What's happening to you has happened to thousands of others. Get away from First USA as soon as possible. They are the prime lenders equivalent of Cross Country Bank. Read a few of the 400+ testimonials
  7. steve

    steve Well-Known Member

    Thanks for the info...

    Looks like FUSA is going to lose another customer this month.


  8. Anon

    Anon Guest

    RE: Thanks for the info...

    I had the same thing happen; 5 year exceptional payment record. Opened an additional account with another bank, charged about half of the limit, then paid off. FUSA raised my interest rate; I assume my FICO score changed. I called to complain - but nothing they would do, so canceled the card, but they still reported as open. Disputed with the 3 CRAs who verified that FUSA had account still open. They increased the limit and lowered the rate. Still have the account open - don't use unless I can pay off monthly because of the 2 cycle interest rate. Get frequent promotional interest rate checks and just had another limit increase. This company offer poor customer service. Since the account has been opened so long am thinking it will help maintain my score.

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