NextCard Rearing its ugly head

Discussion in 'Credit Talk' started by JacquiG, Oct 19, 2001.

  1. JacquiG

    JacquiG Well-Known Member

    They approved me for a $9K line in April of this year. My offer was 9.99 for 3 months, then 18.99. On October 2, I called to see if there was a lower rate available, and was offered the 9.99 again for 3 months if I did a balance transfer, then 16.9. He also said I could call back and get $10 of the BT fee refunded after it posts. I used that card all month in anticipation of only paying 9.99.

    Well today, I checked my online statement, and noticed my finance charges seemed very high. So I called, and guess what, the rate was never changed. I was told to call back in a few hours for 'corporate' to come in.

    Got to work, called back. Now that rate was never offered by the system (not even retention), and they don't know why he quoted me that rate. The lowest they have available for me is 18.99. I asked for a supervisor, and no-one is there. I have to call back at 8 Pacific time.

    What a crock of sh*t! Why would I transfer $4000 to a card at 18.99%? It's funny, the card I transferred it FROM is at 12.6, down from 15.9 (I called). NextCard had better fix this, or into the sock drawer it goes!
  2. breeze

    breeze Well-Known Member

    They must be on drugs.
  3. Saar

    Saar Banned


    You cannot expect prime treatment from a subprime-only lender.

  4. SEAN

    SEAN Well-Known Member

    I closed my Nextcard last week because of the same s*** !!!. I was under the impression when I opened the account last year that is was 9.9 fixed. Well after closely looking at my paper statements (tend to pay most bills online and don't always look at the paper statements) I realized they pulled a fast one. The customer service associates at Nextcard seem to be more on the inept side, so I requested the account to be closed. Paid off the balance and washed my hands clean of the company. Ironically, I spoke with my mother the other day...she had a 20,000 credit line with Nextcard. They pulled the same shit on her, jacked the apr up to 18.9, she closed hers also. Nextcard will be losing a ton of customers if they keep up with this deceptive business practice.

  5. SEAN

    SEAN Well-Known Member


    By the way, Nextcard is not a sub prime only lender.

  6. JacquiG

    JacquiG Well-Known Member

    Finally got to a supervisor, whose (almost) first words were that I was approved for 18.99 with 9.99 for 3 months, but only got two months because of a change in terms after a late payment (stopped there and reversed herself, because she knew that wasn't true).

    Consulted with someone else for a minute, came back and said she would escalate it to her supervisor for review, and IF it is determined that that offer was available to me at the time, they will adjust my account. Asked her weren't they obligated to honor what their reps offer, and she repeated that same statement, that they could go back through the system and see what was in the computer. Of course, that doesn't answer the question... She then said that I would be contacted after the review was done, and was there anything else she could do blah blah... I asked how I would be contacted, and she said by phone. Yeah, I'll sit here and wait.

    I can't close the account because a new furnace, roof, and landscaping blew up my ratios, but at least I can send the balance back where it came from! <sigh> I really thought I would be untouched by the NextCard horror stories.
  7. Saar

    Saar Banned

    We have here dozens of their customers. How many really got the fixed 9.9% product (w/o being jacked up within few months) -- two? one? none?

  8. leo728

    leo728 Well-Known Member

    Nextcard tried to raise my rates to 15.9. I wrote a letter via pfb and they dropped my rates down to 12.9.
  9. Saar

    Saar Banned

    12.9% means Prime+7.4%. Apparently their endless jack up attempts aim at bringing it to 15.9% = Prime+10.4...

    Hell, you could get a 12.9% APR on a secured Capital One!

    Keep looking :)

  10. Marie

    Marie Well-Known Member

    decptive business practices. call your atty generals!

    we have a pattern of abuse.
  11. leo728

    leo728 Well-Known Member

    The balance is $0 on my nextcard. I only use it to rackup double rewards points.... I just found out about cobalt and pay direct. Points here I come!!!
  12. breeze

    breeze Well-Known Member

    LOL, have fun leo!!!
  13. GEORGE

    GEORGE Well-Known Member

    MINE IS STILL 9.99% $0.00 BT
    WIFE'S (IN SOCK DRAWER) 9.99% 3 MONTHS~~~"GO-TO" 18.99% + $50 BT

    That is a great reward for a 741 F.I.C.O. !!!!
  14. JacquiG

    JacquiG Well-Known Member

    Hi all,

    Just an update, if anyone's interested: I got an email from NextCard re: my PFB letter on Oct 31. Basically, they did what I asked - refunded the difference between the 9.99% that they offered and 18.99%, and also the $10 credit on the BT fee.

    They still won't give me the 9.99/16.9 'go to', but that's OK since I already transferred the balance back out. It's funny, though, the wording about 'we'll credit your account now, but it may not show up on your statement for two billing cycles' was also in the Providian post. Maybe they use the same 'speechwriter'??

    I'm satisfied with their response, though they've been relegated to a 'gas and chips' card.
  15. Kittw1

    Kittw1 Well-Known Member

    No, by the time they post the money back it will take at least six to eight weeks (2 billing cycles) to go through their whole internal accounting cycle. I know this, because I do this often for my company.
  16. greyfox

    greyfox Well-Known Member

    I have a $45 credit on NextCard, so they are showing my available credit at $50 less than, huh?
  17. GEORGE

    GEORGE Well-Known Member

    THEY OWED ME MONEY$$$$ I over-paid to stop the INTEREST CLOCK...they FROZE THE ACCOUNT!!!!

  18. GEORGE

    GEORGE Well-Known Member


    When they refund the RIPPED OFF $100.00 BT fees plus the unearned interest (18.99% too soon...paid in full one week before the 18.99% was supposed to start)...

    She ended up only getting about ~61 days at 9.99%, since the first bill was for 1 day...
    I even sent them the MATH!!!!

    QUEEN_BEE Well-Known Member


    You overpaid the total balance of the account and they shut the account down? They are real losers.

    What did they stand to earn if the account is bal=0? They would have nothing to build interest against anyway, right?
  20. GEORGE

    GEORGE Well-Known Member

    Their computer is PROGRAMMED to "SHUT DOWN" an account with a credit balance...

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