I guess I did not read this board closely enough about Fleet. I have only had my Fleet card since may. I've carried a small balance of about 500 since then until I just made a major purchase of 1000.00 last month. I have never been late with them or my other creditors. I found out by accessing my credit account online that they lowered my credit limit because I was not using my full available. Granted my score has dropped recently due to getting married and extending more credit, but having my credit line decreased from 5000 to 1700 when I was never late is an outrage. If my fiance was standing in line for her wedding dress and was declined I would have been on the rampage. Not that I wasn't when I called them and let one of their team leaders have it. LOL I have written a letter to complain, but I doubt that will do anything. And since they jack up the apr when you close the acct I have little choice but to keep it open or transfer the balance. Neither of which I really want to do. I felt this post could help serve as yet another warning about Fleet.
Freeze - lowering your limit is considered an "adverse action" and as such, they should have notified you. I asked fleet for a limit increase, was denied on a Monday (after they pulled a hard inquiry that I asked them not to), and when my statement generated on Wednesday, got a "We've increased your limit..." message on it. Neat- now we have computers overriding people. I got what I wanted - they keep giving me low teasers - it's a weird relationship - I don't WANT to like them, but they keep doing the right things for me. -mj
Well it sure shocked me. I have a feeling they just put the notice on my monthly statment, which I haven't received as it would have just been sent out. Even still, this could have been an embarrasing situation if I went to use the card. I can see lowering the limit if I was late with them or another creditor, but the reasons they gave over the phone were unacceptable. At one point the person stated that I should have called them and said that I wasn't going to be making a major purchase on the card until December or later and that may have prevented the decrease. I told her that was ridiculous as it shouldn't matter when I go to make the purchase if I do not have a negative pay history with them or others. What if I would have been in another country. Geez, I am still fuming from this one. Customer service is very important to me, and I feel Fleet let me down on this one. I did type up a letter of complaint and put it in the mailbox already so we'll see what happens.
I ended up with a Fleet account when they bought my "Advanta" account. When my total debt got high, they raised my rate about 3%. I called and asked why and they said they were raising the rates of everyone with "similar credit portfolios". I decided this account was marked for death. My balance was just under my $1500 limit. I sent in a big payment of $500, then another of $200 in the same month. They never got the $500 payment, but they did get the $200 payment, which was after my due date. I got them to take off the late charge, but they still jacked my rate *again* for six months for being late, and they wouldn't budge on it. The new rate, 26.99%, expired one month before I got the card completely paid off, but I closed the account anyway. When they asked for a reason, I said I was closing all my accounts with "similar interest rates". Neener neener. -michelle (ingenue)
Re: Fleet***Forget Them at This Poi mj, I did my increase by phone and you can do it every 8 to 9 months. I did twice on my Edvance Card and they approved me on the spot without making hard inquiry on my report. You called the automated system and you can qualify for limit increase if the autopmated system had that option. I did on my Edvance Card and Fusion Card already. In my experience you get denied for limit increse if you did on the web sites. Ron.
Sorry about that. I have never had a problem with Fleet, recently they have won me over with their service. www.creditsense.com
Fleet, Cross Country, First Bank of Marin...all the same. Sorry about your experience with Fleet, freeze. Many of us have been there. Dani
I've NEVER had a problem with Fleet (Fusion Card). They offer generous credit line increases and when I pay online, payments post within 2 business days. CardKid
