FIA Card Service - Thrown Away after 9 Years
I called systematically every six months to request an interest rate reduction since this card's APR was significantly more than my other two credit cards - 19.99%! Every time I called, over the course of 4 years, I was told one of two things 1) Call again in 6 months it could be old data about to fall from my credit report or 2) The account will be escalated for review and it will take 4-6 months for them to review it.
Last call was October 29, 2009 and I heard the same things as before "I don't know why I cannot lower the rate, normally there is a button and the account looks good but blah blah blah" Except, this time, the guy energetically offered to send me over to the account credit specialist who would have more info and be able to look at the account in more depth - Excellent a PERSON not a COMPUTER to make this decision! Sweet!
After verifying my financial landscape was VASTLY different than what they had in their system and that I was no longer an 18 year old waitress, the woman put me on hold to do some number crunching and came back to say she couldn't do a better rate. Although it was true I had never been late with the payment, gone over my limit, or any other silly technicality with this account, I had gone 60 days on a Best Buy store card in the spring of 2003.
In FIA Card services defense, they can read a credit report and what Katerine said was indeed true, I had gone 60 days on a Best Buy store credit card.
I proceeded to offer a human explanation and pointed out that on the credit report, she could see that Best Buy account reported only in March, April and May of the same year but ceased reporting because I had paid the account in full and closed the account. I additionally explained, I had purchased a 200 dollar digital camera for a school project on the store credit card that I opened the day of the purchase, got mixed up and when I realized the mix up, paid the balance in full, closed the account and never, ever opened another store card again.
Long story short, she was incredibly belligerent and condescending - even saying "I AM NOT GOING TO STAND HERE AND ARGUE WITH YOU" - my past credit indiscretion was the reason FIA Card services could not offer me a better rate. And, until that was removed from my credit report, this would remain FIA Card Services stance. After explaining to her that I didn't understand why my mortgage guarantor disagreed with their assessment of my risk when I received an A+, fixed rate mortgage in the heart of the housing bust (August 2008), my auto loan guarantor also disagreed with an outstanding fixed rate car loan (March 2007)and my other 2 credit cards (Citi and CapOne both opened prior to 2002) had rates at least 7 APR points lower, she simply said "I'll be happy to close the account"
And like that, after nearly 9 years of on-time payments and good behavior, I became a thrown away customer.