Discussion in 'Credit Talk' started by Frank, Apr 9, 2001.

  1. Frank

    Frank Guest

    I will say this calmly, but I am really pissed off. I was told by a phone representative in October of 2000 that I could do balance transfers with my FCNB card as a merchant purchase. I made a $600 balance transfer immediately. After the balance transfer appeared on my statement as a cash advance, I called and asked to speak to a supervisor, who apologized to me and said the rep who told me the bt information was in error; bt's are treated as cash advances. The supervisor reversed the fees and said she would change the transaction from a cash advance to a merchant purchase. I thanked her and paid my entire balance off in full.

    I found out tonight after being denied a lower apr that the "balance tranfer" in October was a cash advance and nothing had changed or cleared up. Moreover, this was the reason my internal score with the company was lower, and why I could not get a lower apr! I spoke tonight with a supervisor, who told me there was nothing she could do about the situation and the matter was closed.

    I don't want to take this crap from them! FCNB once reported a payment as a charge to my account and tied up my card for two days as an overlimit. FCNB also only posted a $125 payment as $15, and I had to fight like hell to get the late payment fee waived. And once FCNB reversed the high credit and high balance on TransUnion, which made it look like I was overlimit.

    Is there anything I can do, short of closing my account, which is 17 months old, perfect,and there to build my credit, to get this balance transfer as cash advance cleared up?

    These bastards have worked me over in the year and half that I have been with them!
  2. Frank

    Frank Guest

    Re: Need Advice: FCNB SCREWJOB

    One other point: my disclosure statement says that balance transfers are treated as cash advances. I asked the original rep who completed the transaction, if the terms and conditions had changed. She said yes, stating that my account, which was a year old, now qualified the balance transfer as a merchant transaction. The supervisor tonight stated it was my responsibility to know my disclosure state. How stupid of me to believe the original rep who played me!

    GEORGE Well-Known Member

    Re: Need Advice: FCNB SCREWJOB

    I have NEVER heard of a balance transfer being charged as CASH ADVANCE, but I don't have FCNB...

  4. Ron

    Ron Well-Known Member

    Re: Need Advice: FCNB SCREWJOB

    I never take advantage on any of my card like BofA,Citi,First USA, Discover. If I owe something on the card, I will charge on the lowest rate card that I have something like BofA, Nextcard. Even though I have FCNB card and I will not owe anything on their card.

  5. Saar

    Saar Banned

    Re: Need Advice: FCNB SCREWJOB

    Associates will also register balance transfers as cash advances.

  6. miles

    miles Well-Known Member

    Re: Need Advice: FCNB SCREWJOB

    Maybe you should try to use to register a complaint. Many people have had postive results using this service. Good luck!
  7. sam

    sam Well-Known Member

    Re: Need Advice: FCNB SCREWJOB

    Yah, lesson to those that are unsure: Using a money "moving" service with yahoo paydirect or paypal or whatever, to filter your money as a charge to another credit card or person.

    A lot of places do consider "balance transfers" cash advances once the "promo" rate is over. This is how they make money. They also put all of your payment towards "purchases" before "cash advances" so you'll be stuck with the higher interest rate balances!

    Fear the banks, they are wicked :) But if you pay attention to some of the topics, you'll see there are ways to get around these screwjobs!

    Sorry i couldn't help, but i hope i can warn others...

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