Discussion in 'Credit Talk' started by Michael, Sep 27, 2000.

  1. Michael

    Michael Guest

    I can't beleive the idiots at First USA!

    I applied for a card with them for one of my best clients on Sept. 5th over the internet.
    Came back decission pending further review.

    Called them 8 times to check status, and spoke 4 times to a live person and was allways told that the application was being worked on ("it takes up to 4 weeks")!

    Now my client gets a letter in the mail saying it's declined, dated Sept 5th, listing one of the reasons as "Insufficient Number of Accounts rated Satisfactory" and a ambiguous "Total Available Credit"

    So now get this, the man makes $85K, with a $30K available credit portfolio, has perfect R-1 credit, and these bunch of so and so's deny him because he's delinquent on a bunch of accounts, and either has too much or too little credit!

    Just so you know his report was pulled on 9-10-00 on worthnothing, and showed all R-1's and both First USA and worthnothing use Transunion, First USA pulled it's on 09-05-00.

    Also these idiots listed "number of inquiries in the last ONE YEAR"!

    BEWARE of customer service at this outfit!

    A very harsh letter is going out to them today!


    By the Way same client just got a $5K U.S. Bank Plat. Visa!
  2. Jim

    Jim Well-Known Member

    RE: Michael, educate me!!

    I did a foreclosure and a Chapter 7 B.K. 21 months ago due to a work injury. I have obtained 2 unsecured VISA cards from my credit unions. IN EACH CASE I HAD TO WRITE THEM A LETTER OF EXPLANATION AND DOCUMENT MY EARNINGS & ASSETS. Then I got the cards.

    How can your client expect to get unsecured credit without an explanation. Did you provide answers to the bank regarding the questions you know they are going to ask?
  3. Michael

    Michael Guest

    RE: Michael, educate me!!

    First off when a application is done on line (over the internet) there is no room for explinations. Secondly this client has a clean credit history ALL ACCOUNTS ARE R-1, the only explaining he could do is to explain a few of the inquiries.

    We tried on a three way call to speak with First USA, and were told twice to write a letter, no one can communicate with the credit Dept.

    I guess the point we are both so angry with these idiots about is not a denial, everyone gets denied sometimes, but it's how they kept him waiting and calling for almost a month saying the application was being processed, when in fact it had already been denied!
  4. J. Edgar

    J. Edgar Well-Known Member

    First USA is truly the biggest bunch of boobs in the banking business. Search elsewhere on this site for my saga of trying to close two account with them and the comedy of errors they committed including sending convenience checks for accounts after they were actually closed.
  5. Cadillac408

    Cadillac408 Well-Known Member

    Tell Me something I don't know

    I could go on and on about First USA. Makes me mad even thinking about it. That is why I'm making payments on a CLOSED First USA account at 15% interest (fortunately). I would do just about anything to get out from under them. Tried to open an account w/ Capital One w/ balance transfer from First USA and was denied! There customer service people are horrible (worst I've ever delt with). I guess plan B is to wait until Feb. when I get my tax return and just pay them off! :-
  6. Michael

    Michael Guest

    RE: Tell Me something I don't

    Maybe they did us a favour!

    I can tell you this I will never have anyone apply with them again!

    I don't know how they can opperate a business like that?
  7. Doris K.

    Doris K. Well-Known Member

    They Know, and They Don't Care

    Yes, FirstUSA does suck, and it's not because of incompetency. They suck intentionally. These people know exactly what they are doing, and they're only out to rip off their customers in every way possible and provide them inadequate service--it's their business concept. So far, it's worked quite well for them.

    While FirstUSA's stock went to hell, and consumer complaints have been through the roof, they have changed nothing but a few of their thieving officers. They're doing just fine, and they still have plenty of business from millions of customers who will allow the abuses. They consider several thousands of angry customers a drop in the bucket, and unfortunately, they have been right, so far.

    FirstUSA has proved that they can profit by offering sub-prime products and deplorable customer service to prime customers. Perhaps they used our system of government as a model when they came up with this concept.

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