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From: First Equity Card |
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Dear Sir or Madam –
I work with First
Equity Card Corporation, and I’m writing to request your assistance with
the First Equity page maintained on your website “badcreditcards.org.”
First Equity is a small credit card company set up to provide credit to
small business owners who are traditionally underserved by the large
national banks. We offer credit to creditworthy businesses on good
terms, and we don’t use “teaser” rates or balance transfer offers, and
we don’t target prospects in the “subprime” or credit-impaired segment.
We try to offer a straightforward credit card solution to small business
owners so they can begin to build credit standing in the name of their
businesses. Because we are a small company and our business is limited
to offering credit cards to small businesses, we are disproportionately
harmed by the negative material about our company presented on your
website. While the larger bank credit card provides all have many more
complaints posted on your site, the complaint page for First Equity
appears near the top of any web search on our company while your pages
on our larger competitors are not nearly so prominent. Our major
concern is that many of the posts presented by your website in relation
to First Equity are inaccurate and misleading. For example,
·
Post number 3
complains the First Equity offered credit on a pre-screened basis and
that mo interest rate information was provided to the customer. First
Equity does not use pre-screened or pre-approved offers, and information
on interest rates / APRs is included in every offer and with every card
that is issued.
·
Post number 4 claims
that we offered a deceptive six-month introductory rate to the author
when we have never used introductory or “teaser” rates in the history of
the company.
·
Post number 6 claims
that First Equity quoted an exorbitant rate for balance transfers, but
we do not solicit balance transfers from other card accounts nor are
they accepted via telephone as claimed in the post.
·
Post 12 encourages and
facilitates the filing of complaints against First Equity without any
suggestion that the complaints should have any valid basis in fact,
indicating only that more complaints are better because “then the
government will take action against First Equity”
A number of the posts, for example numbers 15, 16, 22, 23, and 29,
indicate that First Equity does not provide contact numbers or addresses
to customers and that we are thus not a legitimate or trustworthy credit
card provider. These posts are just not accurate. We provide both our
phone number and our address on every piece of customer correspondence
that goes out, and every card carries a toll-free customer service phone
number in a large font on the back. Some months ago I wrote a post from
within your website correcting some of the inaccurate information from
prior posts while providing our contact address and phone number so that
your readers can contact us. My post was never published on your site,
even though I sent in a second copy when the first one did not appear.
At this point I would like to ask your help in managing the First Equity
Card page of your website to make sure that the information you provide
is both accurate and helpful to your readers. In particular, it would
be helpful to everyone if you would post the following text near the top
of your First Equity page: “The following information has been
provided by First Equity Card. First Equity aims to provide a
straightforward credit card solution to the nation’s small business
owners, and we do not utilize introductory or teaser rates, balance
transfer offers, or pre-screened / pre-approved credit bureau
information when we market our card product. Several of the posts
appearing here may be mistakenly attributing these marketing tactics to
First Equity, as they are commonly used by the larger bank credit card
programs. First Equity provides contact information and a toll-free
phone number on all customer correspondence. To reach First Equity you
can write to First Equity Card Corporation, PO Box 84075, Columbus, GA
31908 or call toll free (866) 756-7870.” I would also ask
that the posts currently numbered 3, 4, 6, and 12 – as noted above – be
deleted from the First Equity Card page on your site in the interest of
accuracy and fairness. Your site provides a valuable service, but this
value is diminished to the extent that the information presented is not
correct. Given the advertising for credit providers that appears within
your site, I am sure you will want to take steps to ensure the fairness
and accuracy of the information you provide on First Equity now that we
have brought these issues to your attention. I would be grateful
if you could confirm by return note that you will consider the above
steps to address these issues. I would again ask your understanding
that as a relatively small company we are being disproportionately
harmed by your site given the information presented there now.
Thank you for your
assistance,
John Yardley
First Equity Card
(215) 631-1201 x. 102
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JoEllyn
Rogers, AR 72756
Complaint_against: FIRST EQUITY CARD CORPORATION
Complaint:
This company advertises a business line of credit with varying "platinum"
interest rates (0.0% for platinum premier, 6.9% for platinum plus and 9.9%
for platinum classic). In addition to NO introductory APR reduction for new
customers, my latest bill denoted an APR of 18.63%! When I called them to
complain about the misleading APRs they initially offered, they "lowered" my
APR to 13%! I have not defaulted on this card nor missed any payments to
warrant a hike in my interest rate.
I DO NOT RECOMMEND THIS CARD TO ANYONE! Not only do they blatantly violate
consumer disclosure laws by inflating the interest rates they charge, but
the Customer Service Representative with whom I spoke was apathetic when I
informed her I would be transferring my balance to another credit card.
I have reported this company to the Federal Trade Commission!!! |
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Kristen
CT
Complaint_against: First Equity Card Corp
Complaint:
I opened this credit card thinking that it would be good to build my my
business's credit. The APR seemed good and they were offering no annual
fee. When I got my first bill, my APR was 22% and a $39 annual fee!!! Then
I went to charge a couple of large expenses on my card for advertising and
the card was declined. After trying very hard to get a live person on the
phone, they told me that I can only use 1/2 my limit until I make my first
payment. So I said I'll give you my payment right now and they said it
would take 5 business days to clear and they couldn't do anything else for
me. I demanded a supervisor, who I also got nowhere with, so I said I'm
closing my account. 2 weeks later I got a letter from them saying that THEY
have closed my account due to something they found in my credit report and
to not contact them, contact Experian if I have any questions! I am writing
letters to the Better Business Bureau and my state Attorney general, and the
trade commission.!
DON'T OPEN AN ACCOUNT WITH THIS COMPANY!!! |
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Kila
Complaint_against: First Equity
Complaint:
Joelyn & Kristen I have had the exact same experience with this company. I
have excellent credit and solid trade references. I received a pre-approval
from this company for a card for my business. First, First Equity sent me
the card without any interest rate information. Before I used the card for
the first time, I called just to verify the limit. I used their automated
system and found out that only 1/2 of the credit I was granted was
available. I went through the system to get to a person and the person
informed me that I would have to make a purchase, receive a statement and
then make a payment in order to have the full balance available. She also
informed me that the interest rate was 18.75%. She then said she could lower
it to 16.75%. I asked what type of account I had and was told that it was
the Platinum Plus so I would not be charged a membership fee. I spoke to two
people and they were both very courteous.
My suggestion would be to keep this card if you are not being charged the
annual fee, however, I would also suggest not carrying a balance on this
card. This is one of those emergency-use-only or use-and-then-pay-right-away
cards. As a business owner you may need access to the credit at some point
so you should not cut of your nose to spite your foot, however, their
service is predatory in nature so you have to be very careful and mindful of
that.
Thanks,
Kila |
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Carrie
CT
EmailAddress: cqsbluemoon@aol.com
Complaint_against: First Equity Card Corp
Complaint: I received an approved card for my small business with the
introductory rate of 0% for 6 months, 6% variable thereafter never to exceed
9%. After the 6 months expired I received a bill with 23%. I called the
company and they stated they were no longer offering this percentage rate
and could bring my rate to 18.9%. I am going into debt trying to pay off
this card, possibly having to close my kennel and working as much overtime
as possible. I do not want to hurt my credit so I continue to pay. I have
written to the CEO of the company and received a letter back from I believe
a secretary pretty much telling me too bad, we no longer have this offer
available. I have been taken for $10,000 and even though I pay an average
of $200.00 monthly, my balance never goes down. I haverecently began to
sell everything I can to try and pay off this card. This is the worst mess
I could imagine and am a middle aged, professional woman, who checked for
bad feedback before ac!
cepting and using this card. There should be some protection for people who
get taken by such a scam. WARNING DO NOT ACCEPT OR DO BUSINESS WITH THIS
CARD COMPANY. I am in the process of trying to get CT to band this company
in our state. Best to all who have already been taken advantage of. |
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Carrie
Connecticut
Complaint_against: First Equity Card Corp
This company advertises a business line of credit with varying "platinum"
interest rates (0.0% for platinum premier, 6.9% for platinum plus and 9.9%
for platinum classic). In addition to NO introductory APR reduction for new
customers, my latest bill denoted an APR of 22.90%! When I called them to
complain about the misleading APRs they initially offered, they "lowered" my
APR to 18.63%! I never defaulted on this card, paid more than due, and
still received the increase in my interest rate.
I DO NOT RECOMMEND THIS CARD TO ANYONE! Not only do they blatantly violate
consumer disclosure laws by inflating the interest rates they charge, but
the Customer Service Representatives, CEO and Administrative Assistant could
have cared less about the issue at hand, stating "sorry we no longer offer
that percentage rate".
I have been searching all areas to report to so this company cannot solicit
this card in CT or any other state. There should be some way consumers are
protected by such a scam and this company should not be allowed to continue
this gross lack of ethics. |
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Donald C.
Chicago, IL
Complaint_against: First Equity Card
Complaint:
What a scam! I received an "INVITATION" to open a new Business Credit
Card. Their broshure said that they are "so exclusive" they only offer
credit cards by invitation. I have a credit Score over 780, so I have had
quite a few invitations. Their literature was impressive. Three Levels of
Platinum As low as 0.0%. Long Term APR, as low as 0.0%. Credit limit up to
$100,000! "Customized with my company name on the card". I completed the
application on-line, but I expected to see a page listing the various
offers, the credit line I needed, and perhaps a sopt to transfer a few
balances. The application ended abruptly, with no way to contact First
Equity. Their website has no phone numbers, no email addresses, nothing.
The cards arrived today! They are BEAUTIFUL! They also have a $4,000
credit limit and an APR of 13.57%. The phone numbers on the back of the card
lead you on a wild goose chase, but I finally landed a human. I asked if
this was a joke. I have credit c!
ards with 0.0% APR for balance transfers and as low as 2.5% APR for cash
advances. Then the bomb fell, I asked what the rate was for Balance
Transfers.....19.56%. The next sound they heard was my cards being
shredded. I cancelled the accounts before making the first charge. THIS IS
OUT AND OUT FRAUD AND DECEPTION IN ITS WORSE FORM. STAY AWAY FROM THIS CARD
COMPANY. |
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John
Complaint_against: First Equity Card issued by Columbus Bank & Trust
Complaint: My story is the same as the preceding complaints: I have a credit
score of 770, no late payments, low debt relative to my income, etc. First
Equity Card-Columbus Bank and Trust sent me a solicitation touting a
business credit line as high as $100,000 and a long-term APR as low as 0%.
What I got was tiny credit line and an interest rate and fees that would
bankrupt a business owner. When I asked what it would take to qualify for
the terms advertised, I was given the runaround for months and months on
end. In the meantime, these jerks started charging an inactivity fee because
I hadn't used my account. I've never seen that before. I immediately closed
my account. They kept sending me the same misleading solicitations
encouraging to reopen my account. When I called to find out whether I would
get better terms this time, the rep said I would just have to reapply to
find out. I am not going through that circus again. This company should be
shut down by the authorities.!
It's nothing but a scam to take advantage of suckers and desperate people. |
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Marvin
Phoenix, AZ
Complaint_against: First Equity Card Corporation
Complaint: This company bends over backwards to hide its phone numbers from
the public. Their website has very little information about who they
actually are, and no posted phone numbers whatsoever. Here's one way to
reach them: call the company's offices (First Equity Card Corporation, 1180
Welsh Rd, North Wales, PA 19454) Be sure to let him know your opinion of his
company's attempts to make itself so difficult to reach by phone. |
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Paul
Oregon
Complaint_against: First Equity Card
Complaint: They sent literature and a letter offering a business card that
would build my business credit with no annual fee. The name and ss# that
they insisted on is my personal -- no benefit to my business'-- credit. They
promised no annual fee, but the letter they sent me when accepted said
annual fee of $39. I called them and they said send them a letter. I said
no, let me talk to the supervisor. After keeping me on hold for 30 minutes
(guess they thought I'd hang up) they said a manager would call me within 48
hours. None did. Called back and after another 30 minutes, a Jason came to
the phone and said he would only reverse the charge after the charge had
been posted to the account.I asked why not code it now to not charge the
annual fee as promised. He said they had no such code or account type
without annual fee. Then why do they advertise it? |
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Mr. FSBO
Chciago, IL
EmailAddress:
JB@forsalebyowneradvertising.com
Complaint_against: First Equity Card Corp
Complaint:
If you've read all the down to me and you still don't believe that these are
bad people business to do business with, then shame on you!! The premise on
my experience is as those before me...No Annual Fee, 0% etc.
I only wish I had the time to chase them down. I transferred the balance to
another card...and we're done! |
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Sally
Jacksonville, Florida
Complaint_against: First Equity Card
Complaint: Why am I not surprized to find a web site with numerous
complaints against this company. I had never heard of them until I started
receiving phone messages from them AT MY PLACE OF EMPLOYMENT!! I have no
idea how they got my work number or why they were calling me since I do not,
nor ever had an account with them. After leaving 3 messages in my voice
mail I returned the call thinking it must be business related. When I asked
the nature of the call they mentioned something about my account, I
immediately told them I didn't have an account with them. After requesting
verification of my information they transferred me to "customer service" and
I was told they didn't know why I was receiving these calls, I was not
listed on any account and they had no idea how they got my phone number. I
thought this was the end of it until I received another call from the same
person I talked to previously!!!! I could not believe it and asked them to
remove all information they h!
ad on me and if I received any more calls from them I would report them to
the Federal Trade Commission. When asked what the calls pertained to and
what type of business they were I was told they couldn't give me that
information!!! I never received a satisfactory answer as to how they got my
personal information or what the nature of the call was about. Just "I
don't know why we are calling you". My answer was, then please stop. This
company made me suspicious from the beginning. I don't know if someone is
using my name for credit card fraud or what is going on. |
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Karen Porter
Complaint_against: First Equity
Complaint:
To file a complaint with the federal government regarding First Equity,
please go to
http://www2.fdic.gov/starsmail/index.asp and fill out the form.
For Institution Name, please enter: Columbus Bank & Trust - First Equity
Card
For the Institution's address, please enter: 1148 Broadway, Columbus,
Georgia 31902.
Also, please go to www.ftc.gov, click on
"File a Complaint" and enter the same information there.
The more people file complaints, the more likely the government will take
action against First Equity. |
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al
new mexico
Complaint_against: first equity card
Complaint:
Can not be reached by any method they keep sending "contrivence checks"
with out end after the card was shredded.this is not a business but a scam |
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JB
Complaint_against: First Equity
Complaint: Thank you for the heads up people..I was about to fill out their
application but decided to do my due diligence on this never heard of before
company. Glad I checked them out, after hearing some of the horror stories
regarding this credit card offer, I've tossed my applicaton in the garbage
where it belongs. Thanks for the creators of this website. They are doing
a great service. |
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Anonymous
Complaint_against: First Equity
Complaint: Gosh I totally agree with JB, I couldn't find a phone number
anywhere in sight on the promotion offer as well as on their website...that
raised a red flag with me to search a little furher and found this site
which kudos to you all for making these statements which help people from
following through on scams like these. |
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TW
Complaint_against: First Equity Card Corp
Complaint:
My complaint about,..... or with First Equity Card Corporation is either the
same or very simular to everyone else's before me on this posting. Even the
experiences,...I mean everything!!! So be aware!!! Don't do business
with these people!!! * * NOW,...PLEASE NOTE A SIMPLE REQUEST FOR
ANYONE IN THE FUTURE WHO READS THIS & POSTS A COMPLAINT (OR ANYONE FROM THE
PAST WHO READS THIS),.... Perhaps some continued information gathering
is also helpful, especially on this site!! So if any of you have
whatever info such as street addresses, any & all telephone #'s, various
e-mail contacts to this company (First Equity Card Corp.), & or contact
names, etc., etc., PLEASE ALSO POST w/ every posting if possible. It
appears this company may have more than one street & mailing address, more
than one telephone #, more than one e-mail address, etc.. Knowing this
info for all of us, makes it much less harder for them to hide & exposes
them even more for who they really are. Some of you have already done
this in previous postings,... many thanks!!
This is a big help!! * * And remember,.... don't give up, "FIGHT THE
GOOD FIGHT!!!" "THERE'S MORE THAN ONE WAY TO SKIN A CAT!!"
(figuratively speaking,.. I actually like cats). Best wishes & good
luck!! TW |
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Anonymous
Complaint_against: First Equity Card
Complaint:
What a scam! I wish I had found this site before applying for the card (and
now having it show up on my credit report!). So I get approved and get
the card. I dial the 866-756-7866 number on the card's sticker to activate
the card. The recording says - "The information entered was invalid." I
enter again and again, definitely entering the info properly. Finally the
computer disconnects me. I then call the 866-756-7870 number on their
"congratulations" letter, and the same things happen. The computer rejects
my information and the menu gives NO opportunity to get a live person!
Then the BEST thing of all happens... I dial this other number on their
literature - 866-758-7870 - Now it's clearly a typo of the above number but
believe me, this number is what's printed. So I try it and it's a PORN line
for $5 per minute! That's what prompts me to Google them and find your
website. Tomorrow I am immediately filing a complaint with the
Attorney General. SOMEONE needs to put these frauds out of business. I
am shredding the card and writing them a letter to immediately close the
account. I am sending it CERTIFIED to the President of the organization.
By the way, they have the nerve to give me a $2000 limit, and a WHOPPING APR
of 24.21% after their offer says "low rates" and "a great credit line."
If 24.21% indicates "low rates," they need to have their heads examined.
Anyone interested in putting together a class action against them??? |
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Jennifer
Oregon
Complaint_against: First Equity Credit Card
Complaint:
Contact Numbers that are listed on my statement...
1-866-756-7870 AND 1-706-644-0854
This is the worst credit card company I have EVER dealt with! They approved
me, I used it, was a few days late paying my first bill (I had a chaotic
week and completely forgot) We paid our bill... only seriously, a few days
late. I accepted the fact that I would get a late fee, knew I screwed up
and everything. That didn't bother me. What did bother me was that they
stopped funds available without telling me this on the phone when I paid the
bill. I called them about it because I was declined, to my surprise, when
making a purchase. I was shocked because I knew I wasn't even CLOSE to
maxing out. Anyways, I called them, they said the remainder of the funds
will be available after 24 hours of paying my bill and that everything was
now fine because I paid. They reminded me of the next payment due date and
were kind to me on the phone. 24 hours later, I checked and the funds were
available. I used the card right after that and then I went to use the card
a few days lat!
er and to my surprise AGAIN, I was declined! WHAT THE HECK?!!! I called
them regarding this and the lady said that that I needed to make 2 on time
payments in a row for the remainder of funds to be released. They had
already released the funds a few days before and I had used it just fine.
NOW it gets shut down again on me? She then said there was a note on my
account stating that the account has been closed. CLOSED?!!! OH MY GOSH!
I admit I was late a few days, but have never had a card cancelled on me.
Also, I have never had a card not give you a second chance to make an on
time payment. I wrote an email to them and explained my situation.. I got a
cold, short response. The account was closed and a letter was sent out on
the day it was closed. I have yet to see this letter. I did however
receive a new bill and it didn't mention anything about the card being
cancelled. They are so confusing and their reasons for things are not
clear. I asked why they closed i!
t, the lady said I would have to WRITE A LETTER and she didn't have a phone
number! WEIRD! She told me she didn't have a reason for my cancellation
and couldn't help me regarding it. DO NOT go through them for a card. I
had hoped to build my business credit being a new business but now I am
worried that they have done just the opposite... ruined it! WARNING! Don't
go through them! Use the phone numbers above to contact them. I was able
to get to a customer service agent every time I called without problem.
Feel free to let them have it! I am happy to file an official complaint on
them. |
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SE
Oak Park IL 60302
Complaint_against: First Equity Card
Complaint:
I can only say THANKS. I was this close to fill out the application when I
run into this site.
Can not thank the site and the contributors enough.
SE |
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David
Mississippi
Complaint_against: First Equity Card Corp
Complaint:
THANK YOU everyone for saving me from making a BIG MISTAKE!! I received
several mailings from them - they obviously got my name from the state's
public records - and finally decided to get a card and their mailing was the
latest. ZERO interest rate! NO ANNUAL FEE! HIGH LIMIT for my business!
What's not to like, right?
So I filled out the application and was about to stick it in their envelope
when a flash of caution overtook me. THANK GOODNESS! I didn't recognize the
company, so I thought I'd Google them. It brought me here. THANK YOU
EVERYONE!! Your experiences have saved at least one sucker from getting
scammed.
Now, to return the favor, I'll share with you what I intend to do about
this. Since I have not actually been scammed, I cannot report them to my
state IG or the BBB or the FTC or the FDIC, all of which you SHOULD do if
you've been a victim. (Also write a letter to your local paper, you might
save someone else. Just report facts, no opinion, don't want you sued!)
From now on, I will look forward to receiving mails from these folks. Why?
Because they include a POSTPAID envelope! I will use scissors to cut out the
name of my company and any other identifying info, then I will stuff all
their material (plus anything else I can find) into their postpaid envelope
and send it to them. It will cost them more than regular bulk mail for this,
and I think if enough of us do this, it will make a difference. I only do
this to companies I'm really irked with, and these folks qualify.
Second, whenever I get a marketing call, as soon as I determine that's what
it is, I ask THEM for their credit card number. YES! I really do. Here's
what a typical conversation goes like:
====================================
(Ring) "Hello?"
"Mr. Smith?"
"Yes, who's calling?"
"This is Slimeball Scuzzbucket with First Equity Card company and I'd like
to tell you about a very special offer we have on a credit line for your
business."
"Okay, may I please have your credit card number?"
"Pardon me?"
"I need your credit card number."
"What for?"
"I charge $125 per hour for listening to things of this sort, and I have a
two hour minimum. Will that be Visa or Master Charge?"
Click.
====================================
I hope this helps someone out there.
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Gary Roberts
Ft Collins, Colorado
EmailAddress: dsprods@bellsouth.net
Complaint_against: First Equity
Complaint: All of the above: No communication, deceptive and fraudulent
disclosures, no means of even checking purchases to the card. Fortunately, I
have very little owed on it and will close it out ASAP. WORD TO THOSE TRYING
TO STOP THIS COMPANY: Direct your complaints to VISA INTERNATIONAL. When
George W Bush got his new banking and credit card regulations passed through
the Congress, most of what this card carrier is doing BECAME LEGAL. You can
go off to the BBB, the FTC, and your State AG all you want, but Bush MADE
THIS LEGAL. But VISA is very sensitive about it's reputation..and potential
multi-billion dollar class action suits. Attack VISA. Cut off the head of
the snake. |
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B Rose
Jamul CA 91935
Complaint_against: First Equity Visa
Complaint: This company keeps sending me UNWANTED JUNK MAIL. My company was
sold years ago. YOU KNOW THEY WILL NOT PROVIDE ANY SERVICE BECAUSE THEY HAVE
NO TELEPHONE CONTACT NUMBERS. They only have an application fax number or a
number with an answering machine on it...telling you to write a letter and
mail it to them if you want off of their mailing lists. I googled First
Equity and was able to look through the numerous complaints on this site.
Luck for me, someone had posted a contact number. I called and was asked for
my Social Security Number (I said YOU DO NOT NEED THAT AND YOUR REQUEST IS
DENYED). Next they wanted my account number. I told them I didn't have one.
I asked for a supervisor. They said they couldn't connect me with a
supervisor until I provided them with my Social Security Number. I
persisted. I was told no supervisor was available. Finally, the person on
the other end of the line did ask what I wanted. I told her I wanted to have
them STOP SENDING ME UNWA!
NTED MAIL. She was polite and took my information. Now we will see if she
(or her superiors) do what they promised to do. TAKE MY COMPANY NAME OFF OF
THEIR MAILING LISTS! |
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Matt
Fairfax, VA
Complaint_against: First Equity Card Corp
Complaint: I just wanted to thank the folks that set up this website and the
others for posting their experiences with First Equity. I too received
numerous offers from First Equity and was about to respond to their 0% offer
when I tried to call them and couldn't find a phone number. I thought this
was odd and did a Google inquiry and viola!, found this website. I could
have been a sucker and applied. Thanks guys. I'll just continue to trash
their solicitations, or cut them up and send them back - I liked that idea. |
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angela
EmailAddress:
angini@anginicloses.com
Complaint_against: First Equity Card
Complaint: I applied for their credit card and they spelled the company name
wrong. So I am trying to call someone but sometimes I get through &
sometimes I don't. Also, I have to enter my account number to go to the next
step, which I don't want to do because that will activate the card with the
wrong co name. If I don't enter anything, the line disconnects. So I want to
just cancel the card. Any suggestions? Thank you. |
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Home-Based WBE in Nevada
Complaint_against: First Equity Platinum Business Card
Complaint: Thank you...thank you...thank you...to each of you who discussed
your complaints here regarding First Equity. I was just moments away from
filling out the application form (because, of course, I can always use low
interest capital for my business), decided to "Google" the company (thank
Heavens, too, for Google), then and found this site. We small business
entrepreneurs surely do need to stick together and this site is very
supportive/infomative. In light of your timely warnings, one more bogus
"offer" is now being gobbled by my trusty paper shredder! Regards HB-WBE in
NV |
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Crystal
Georgia
Complaint_against: First Equity Card
Complaint: This is the worst credit card I have ever seen, but I have to say
that those of you who are complaining only have yourselves to blame I filled
out their application too and yes, the invitation is very misleading, but if
you had read the terms and conditions as you are supposed to you would have
received all this information from them! That is the reason I shredded the
card! By the way, those numbers for contact don't even go to First Equity
card they go to a call center in GA that processes all the info for them!
These big credit card companies all do that. How do I know I used to work
for a call center! So don't bother with the contact numbers on your acct
info. |
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Anonymous, II
This card sucks big time, Il
First Equity Card
Complaint:
Same issues as above...15K credit line, used before with no problem. My
balance was less than 300, and I accidentally paid it about 5 days late. My
statement said I had over 11K available, but the 800 number says 0! What!
I tried to use it and was declined. Just got another statement...still says
I have all this cash available, but the 800 number still says 0. Called in
and got a human who put me on hold for 10 min. SOmeone from their risk
division (what?) said I was selected for a random security check. Needed to
send in business license, drivers license, etc. in order to get ANY info on
the account. What the hell..I am closing this card as soon as the balance
is paid off. Oh yes, she also said she needed all these documents before I
could even close it. What the hell! |
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Gregory Hecox
Wichita, Kansas 67208
EmailAddress: Dukems2004@yahoo.com
Complaint_against: First Equity Credit Card
Hi Folks,
Got an invitation from First Equity Credit Card to apply for a business
Platinum Plus credit card. The offer was 0% I think or no more than 2.99%
fixed. I fell for it, applied online and got a letter of approval in the
mail with checks within a week. Just on a hunch I called to comfirm the
interest rate and about fell over when they told me I had a 14% variable
rate. I asked what kind of card I had and they told me it was a Platinum
Plus. Well what possible card could there be ahead of the Platinum Plus I
asked? The Platinum Plus Plus card, perhaps? The operator did offer to
reduce my interest rate to 9.99%, but I persisted in calling the credit
approval office and explained the
situation. I got nowhere, it was like talking to the wall. I know from
credit monitoring services that I have great credit scores so I knew it
wasn't that. I ended up canceling my card before even receiving it. Beware
folks, this is company using duplicitious marketing practices. Good day. |
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Shanna
Georgia
EmailAddress: dmb211@juno.com
Complaint_against: First Equity Complaint
Complaint:
I ordered this card over 2 months ago. I never received the card in the
mail. After a huge search for the credit card company's phone number I
contacted a representative to resend another card. I was informed that I was
not an authorized user and my husband would need to add me as a user. My
husband added me as a user 2 days later and I spent 25 minutes on the phone
with a representative giving her my information as well as a corrected
address that First Equity had previously entered wrong. After 2 more weeks I
still have not received a card in the mail. I called customer service back
and was told that I am not an authorized user. I complained to a supervisor
about this problem. I told her that I has spent valuable time on the phone
with representatives 2 weeks prior to add me on as an authorized user. I
also expressed to her my frustration that I had not even received a card
from them and I was already having problems with the company. The supervisor
was unhelpful as well !
as unconcerned with this problem. She told me that my husband could call
again and add me as a user. I told her that was unacceptable and that the
next time my husband called to speak with First Equity it would be to cancel
this card.
My husband will be cancelling this card this week! |
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Wendy
Marietta, GA
Complaint_against: First Equity
Complaint:
Everyone, thank you so much for posting your complaints! Like most of you, I
received an offer in the mail with those excellent terms too. I had never
heard of this company before, and was a little leery. So, I decided to
Google them and found this site. Here I was thinking before, that maybe it
would be good if I got the card to use for some advertising, but after
reading these complaints I will be shredding the information as soon as I
get home today!
You guys are life savers! |
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Schahrzad Berkland
Poway, CA
EmailAddress:
schberkland@sbcglobal.net
Complaint_against: First Equity Card
Complaint:
I started filling out the online form, and a RED FLAG went off. What
reputable company asks for your birth date and social security number? I
wondered if this was just a scam to get my personal information, so I
decided I would call them to do the application online. There is no
phone number on the website! Only addresses in "Contact Us" I checked
my mail solicitation, and the only phone number on it is a fax # for faxing
in the application. I then knew for sure this is a bad company. I
googled the name, and found this website. Folks, maybe it's my age
(mid 40's), but I realized this is a bad company before I even opened the
account. Just ask yourself: why would anyone offer 0% to a start up
company? Why would anyone not put their business phone number on the
marketing/promotion materials, or on their website? Anyone who applies
for this card is frankly, gullible. |
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Bob
Dallas, TX
Complaint_against: First Equity Credit Card
Complaint:
Thanks for all the above complaints. Kept me from even thinking about going
with them. I will however be sending back all of the postage paid envelopes
with a "no thanks". Maybe if they have to pay enough postage, it'll help
shut them down.
Feel free to send them back something heavy with your "no thanks". |
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Tom
South Carolina
Complaint_against: First Equity Card
Complaint:
I had received this invitation only business card offer in the mail. They
claim that they are the best in the business for small business. What a joke
this was. I run a company that makes seven digits in revenue a year. My
personal credit was in the 700's and I had already build the company credit
to 500k in unsecured lines. So I applied for the card, finally received it,
and even made my first purchase on it. When I received the card it only came
with a $3000 credit limit which I thought for small purchases would be fine.
Then one of my purchases got declined and when I called I was told that only
half my credit limit was available until after I received my first statement
and make my first payment. I did not care at that point and just would use
another card until this was resolved. I received my statement, I sent out a
check for the full balance due, and thought no more of it. A couple weeks go
by and I get a call from one of there reps stating they never received the
pa!
yment. I told them sometimes things do get lost in the mail and I would give
them the full amount due over the phone and just cancel my check later. They
tagged on a finance charge at 24.14% and a $39 late fee on top of that. I
told them I did send in the payment on time and that it got lost. The rep
told me I could call customer service back in a couple of days and they
would remove the late fee since it was my first time. I figured I would wait
until the next billing cycle and deal with it all then since all my charges
did not show up on the first bill. About a week goes by and I get a letter
from them stating that they lowered my credit to $500!!! I called them up,
paid my remaining balance, and told them to close my account. Once the rep
said they would send a letter out confirming this the only other thing she
herd was my shredder.
This company is a scam and a fraud. They do not disclose all there facts and
will not work with you to keep you as there customer. DO NOT EVER APPLY FOR
OR USE THERE CARD. |
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CONCERNED PERSON
VIRGINIA BEACH VA, 23464
EmailAddress: FAIHTNHIM4@AOL.COM
Complaint_against: FIRST EQUITY CARD
Complaint:
Ready for this story?
I recieved a call saying my April 2007 payment was not recieved and that I
owed 498.00. I looked online where I pay them and saw that a payment was
made on April 4th 2007 for 6,500.00. I called back to the "collections dept"
after not making the lady understand my point I was transfered to a
supervisor. She said that I missed a payment, in AUG 2006! now two was
recieved in SEPT 2006 but it could not be put on the Aug 2006 payment! I was
upset so called the regular number for customer service. She said she does
not even know whay they brought up the year 2006.So this tells me they don't
even know what they are talking about!BUT my payment was counted as late
because ,READY FOR THIS???? I PAID ONE DAY TOO EARLY!! so it is another way
for this company to commit fraud against us and to take a late charge and
possibly up the interest rate.So even though I paid 6,500. it is not
recognized as a payment. So I am being penelaized for paying ahead of time
by one day. Even the customer service rep said the system is flawed, and it
is not a good thing. This bank is being fraudlent with its customers by
having penatiles for being a good payuing customer. SO IF YOU ARE STILL
DOING BUSINESS WITH THESE PEOPLE PLEASE KNOW YOU CAN'T PAY EARLY EITHER!! |
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Ken
McKinney, TX 75070
Complaint_against: First Equity Credit Card
Complaint:
Thank you all so very much for the heads up on this company. I too started
to fill out the application and found it odd that they did not have a
telephone number. Now I know why. Thank heavens for google and this
website. This company should be shut down.
Ken |
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Mr. Frank Horsley
California
Complaint_against: First Equity Card
Complaint:
I can only say THANKS. I was this close to fill out the application when I
run into this site. Can not thank the site and the contributors enough.
the best thing to do is return the prepaid envelope with the blank
aplication or remove your information from their offer and make envelope
heavy enough so that it cost them more so that they stop soliciting with
folce information. if we all start doing this they will have to stop
soliciting and messing with small bussines owners. please lets not be
taken by fools and SO WHEN YOU GET THEIR SOLICITATION JUST RETURN IT IN
BLANK "DON'T FILL OUT THE APLICATION" EVEN PUT IN THE ORIGINAL ENVELOPE
THAT IT CAME IN FORLD IT TO MAKE IT FIT SO THAT THE ENVELOPE COST THEM MORE
IF WE ALL START TO DO THIS THEY WILL FEEL THE PRICE.
Thanks
Frank Horsley. |
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Peter
New York, NY
Complaint_against: First Equity
Complaint: I have received an application for their Visa card but when I
could not get through to anyone I did search and here I am. I strongly
encourage everyone who has here to file a complaint with their local
District Attorney's office and put these people out of business. I was
going to include a phone number for Visa but I have misplaced it. Enough
calls to them might have positive results, too. Good luck and thanks. |
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Scott
madison, Al
Complaint_against: First Equity Card
Complaint:
My complaint is the same as the dozens listed here with one more really bad
twist. I have a street address. However, I have a book keeper to handle my
bills. My Book keeper has a PO Box. Every month, my account got suspended
because they couldn't seem to know who to mail the bill to & they don't want
to accept a PO Box. Last month, I called to get it fixed again & I couldn't
understand the customer service agent. She mumbled badly. I finally asked if
I could speak with another agent & she passed me on to her supervisor.
The supervisor greeted me by telling me I had upset the 1st agent because
she thought I was racist! Can you imagine, calling an overcharged, paying
customer a racist simply because he couldn't understand mumbling! I never
thought, let alone said anything about anyones skin color. It has nothing to
do with anything in banking & I was so offended to be called a racist, I
closed & payed the account immediately. |
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Rob Bowers
Newtown PA 18940
EmailAddress:
clipperproducts@snip.net
Complaint_against: First Equity Card
Complaint: I thank you all above as posters. You probably saved me a lot of
grief. I got that same snappy looking "great deal" application today that
you have all described. Since I've had credit card companies jerk me around
in the past (and I have a good credit record), I automatically start with
the fine print. And, fortunately for me, I went right to work on Google and
found this site. I have already placed this application in the circular
file, where it belongs. |
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Anonymou
Memphis TN
First Equity Card
Complaint:
WOW ..... thanks guys .... I am so glad I found this site!!! I got the First
Equity Card and CANCELLED without even making a purchase on it. After
viewing these DISASTERS on here I didn't even wanna bother with dealing with
a "company in hiding" on bogus APR's ....... THANKS A MILLION GUYS ....
YOU'VE SAVED ME THE TROUBLE.
I urge all that can .... CANCEL YOUR ACCOUNT !!!!
FIRST EQUITY CARD 1-866-756-7870 .... this number does work |
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Jeff
Springfield, PA
EmailAddress: nospam@who.com
Complaint_against: FIRST EQUITY CARD CORP
Complaint:
My good friend asked me to look into this company. When you read the info
posted some of you will be able to guess what i do for a living. I can only
hope this information can help someone. My friend got totally screwed by
this company.
This company originally started in PA. They still hold an office not far
from where I live. The company's operations are conducted in GA now.
God Bless and good Luck! |
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Designs for Living LLC
Jacksonville, FL 32257
EmailAddress:
customhomeplan@yahoo.com
Complaint_against: First Equity Card
Complaint: What a bunch of yahoo's. First, even though they sent me the
card, they kept sending me solicitations to pen an account. That is
ignorant. Second, when I got the card I did not use it for awile and when I
did the lowered my limit by almost 40%. I just got off the phone with their
"no customer service" department and spoke to Rachael who gave me the
standard corporate line. I then spoke with her supervisor Fateema who did
the same thing. Since I have good credit and want to avoid the mail I pay
everything online. The first bill I received was after I made my first
payment. They claim they sent a bill out, but I never saw it. Their excuse
was "we never got anything back". I too am reporting them to everybody I
can. This method of doing business is deplorable. If I did business like
that, I would be out of business. They are truly a bad credit card and a
hugh ripoff. |
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mont
atlanta ga
EmailAddress: kwintegra@charter.net
Complaint_against: first equity corp
Complaint: First Equity Card Coporation, Unethical credit predation
Complaint Rating: My good friend asked me to look into this company. When
you read the info posted some of you will be able to guess what i do for a
living. I can only hope this information can help someone. My friend got
totally screwed by this company. This company originally started in
PA. They still hold an office not far from where I live. The company's
operations are conducted in GA now. In closing, I suggest everybody
get on the horn and start telling everyone that you have their info and can
now more effectively aid in the pursuit of remedy through the SEC (sec.gov),
FDIC (fdic.gov) and US Dept of Commerce (doc.gov). God Bless and good
Luck! |
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C. Helu
Reno, Nv
EmailAddress: peavine645@yahoo.com
Complaint_against: First Equity
Complaint: I am so grateful to all of the comments warning me NOT to fill
out this application! I'm glad there is a site such as this one for us to
help one another. |
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sam louhi
21012
EmailAddress: dlouhi@verizon.net
Complaint_against: First Equity Card Corp.
Complaint:
This company is clearly a certified thief ,This site should get all these
complains to the district attorney's office or the financial authorities ,so
they can shut this thief business down ,It took me 20 days of internet
invistaigation to finf who their legal agent in the state of maryland so i
can file a small claim with the district court of Maryland ,
this is an excellent and very helpfull site Thank you moore power to the
poeple. |
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Steve
Roscoe, IL 61073
EmailAddress:
surfingthenet12@verizon.net
Complaint_against: First Equity Card
Complaint: I received a personal invitation for a First Equity Card and it
sounded appealing for my business. However, a "gut reaction" told me to
check further into this company. I found this site first and that's all I
needed. I thank the previous posters for some good information but it's a
shame they had to find out the hard way and I hope each and every one of
them contacts the proper authorities to file complaints. Again, thanks for
posting and saving me some unneeded headaches...I just deleted the sign up
pageand shredded the mailed application form. |
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Anonymous
CA
Complaint_against: First Equity
Complaint: Thanks again to all of you for warning me about this screwy
company. I really feel sorry for those of you who got taken advantage of. I
was in mid online application mode when I felt something not so right. I did
fill out two pages of the application, so we will see if they send me the
card even though I quit before finishing. I wouldn't be suprised if its
alrady in the mail with a late payment. Thanks again!!! |
| 48 |
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Anonymous
Complaint_against: First Equity
Complaint: What business in 2007, doesn't offer a contact phone number???
Having opened my own small business, I thought this would be the perfect
opportunity...that is until I read all the complaints on this site. I spoke
with a young lady in customer service that I swear had to have started
today. She knew nothing..Ridiculous. The offers just keep coming. |
| 49 |
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Cheryl
Winchester, Tennessee
Complaint_against: First Equity Business Credit Card Svc.
Complaint:
I wish I had seen this site before I committed to this company. Not only
was the interest rate quoted false but it was outrageously high; from 24%
(purchases) to 26% (cash advances).
In addition to that, when I paid off this account to be rid of it, they
continued to charge interest on the cash advance that I had paid off at the
same time. Get this: $00.02 was the charge and $2.29 was the insurance
charge on the 2 cents. If I had ignored this statement, you know where my
balance would have eventually ended up.
When I called them on it, they said that I had agreed to this method when I
signed up and that the interest on the cash advance was going to continue to
amount, along with other charges. When I threatened a suit over 2 cents
they credited off the total $2.31. They are one to watch out for. Don't
sign up for this one. They've got a license to steal. |
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West Manor1 LLC
TN.
EmailAddress: tussintok5@yahoo.com
Complaint_against: First Equity Card
Complaint:
The first thing we have to say, is that when there is no telephone number
for contact information, that's the red flag for us!!..Next, there offering
to give you an immediate cash advance without even asking how much you make
a year? Next, Platinum premier, platinum plus, platinum classic? Are you
kidding? Next, you want our SS# and date of birth and mothers maiden name?
Yea, right.... We don't think so..... Next, how did this company
get our D.B.A. name.....We can only think of two names...Our bank, and
Capitol one bank....hum mm,we'll have to check into that... Were going
to send back there prepaid envelope with some weight to help them out...and
you should too! Were fortunate that we did not fill out this form
online, or mail it in to get this card thanks to this site! We will
call the district attorneys office and let them know about this farce.
To all the people that got this card and used it, we are so sorry. We will
do everything in our power to help you! Our advice.....DO NOT ACCEPT
THIS CARD AND GIVE OUT YOUR INFORMATION!!!! Your friends, West
Manor1...... |
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W
Rochester, NY
Complaint_against: First Equity Credit Card
Complaint:
It seems that my complaint will be redundant or supportive to the many
claims against this card company. Their Ad invites low interest to 6.9% or
less with no annual fee. When I was approved and called to ask about the
18+% that they wanted and the annual fee of $39.00, the respondent was quick
to eliminate the annual fee and reduce my interest to 14.9%, which still was
way beyond what I accept and certainly far from their Ad. This company
is representing a bait and switch technique for the naive and desperate.
If you are considering this type of credit system, I will recommend Capital
One. They have always been fair to me throughout many years of business.
Do Not Fall For First Equity as it is a First Class Scam! |
| 52 |
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Marilyn
Rockford IL
Complaint_against: First Equity card
Complaint: Gee, I wish I'd read this before I went and applied for this
thing...The invite would have made nice shredder food. I got the same
invitation that most of you guys got - it sounded great! And frankly, they
made it sound like I had already been preapproved. Wrong! I finally
decided to do the application on-line and then I waited. And waited. Tried
to call them, and got only a prerecoded message about most people getting
approved in two weeks. I was concerned because if they sent a card, it may
have gotten stolen. But today I got the news - they turned me down! And
the reasons they gave were pretty screwy. One was that I had too many
delienquencies and then they said I didn't have enought retail activity
recently. Huh?!?! If I haven't had enough activity, how can I be
delinquent? But after reading all the complaints listed, I realize I dodged
a bullet and they probably did me a favor. Sounds like a BAD company!!! By
the way, their phone # is actually !
on the back of their invication, very last line, in teeny tiny print. But
all you will get is a recording, so good luck! |
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O Johnson
Complaint_against: First Equity Card
Complaint:
I really appreciate everyone sharing their experiences with this company. I
too accepted their card (unfortunately before I saw this site). After
reading the post I called the company and closed the account, not before
printing my online statement showing $0 balance and never having any
charges.
I have a score of 830 or higher on all three credit agencies DTI of 3% and
still received a 15.99% card from with a $9000 limit with their initial
receipt of the card. When calling to cancel the account phone reported only
a limit of $6750.
I never used the card once had it a total of 2 months.
I follow all here by noting to stay away from this card company. |
| 54 |
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Maria
Dallas, TX
Complaint_against: First Equity Card
Complaint: Complaint: I just wanted to thank the folks that set up this
website and the others for posting their experiences with First Equity. I
too received an offer from First Equity and was about to respond to their 0%
offer when I tried to call them and couldn't find a phone number. I wanted
ask questions, not being familiar with them, in fact not ever hearing about
them in the past, and thinking I can apply over the phone--I feel its more
secure. I also did not find a number on the application only the website
and a fax #. So, I googled inquiry and here I am. I was close to being
their next victim. Thanks guys. I just used their pre-paid envelope to
send back their offer and cut off all my info including the code on the
front lower left side of the offer right before the tear off them back - I
liked that idea. |
| 55 |
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mike
houston tx 77063
EmailAddress: mike1226@myway.com
Complaint_against: first equity card
Complaint: This company is going out of business they just put a hold on my
card and refuse to explain it. the phon # nobody in the office
customer service dont have any explonation eaither. what a joke. mike |
| 56 |
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W. Eric Cloud
Washington, D.C. 20002
EmailAddress: CloudLaw@aol.com
Complaint_against: First Equity Credit Card
Complaint:
I am an attorney in Washington, D.C. I represent a senior citizen who is the
victim of identity theft. A preacher stole his personal information and
applied for a credit card with First Equity Credit Card Corporation which is
a subsidiary of Columbus Bank & Trust of Columbus, Georgia. My client and I
have repeatedly advised First Equity that he never applied for credit with
them and never used the credit card that was sent to the preacher. They
continued to call three times a day, seven days a week, at all hours of the
day. I sent them a letter of representation which should have stopped the
collection calls from a reputable company, but not First Equity. The calls
continued unabated. By the way, it is almost impossible to find out First
Equity's address. The company goes to great lenghts to conceal its true
business address which is: Columbus Bank & Trust of Georgia, First Equity
Credit Card Corporation,1148 Broadway, Columbus, Georgia 31902.First Equity
has trashed my!
client's credit rating and caused him considerable stress. I am now in
litigation to stop First Equity's madness. IT WOULD BE MY CONSIDERED ADVICE
TO NOT DO BUSINESS WITH THIS COMPANY. |
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S Fountain
WPB, FL
EmailAddress:
stevefountain1@yahoo.com
Complaint_against: First Equity Card Corp
Complaint:
I'm not sure as to the posting dates of the complaints against First Equity
or Mr. Yardley's protective response, but Mr Yardley's response does nothing
more than prove the authenticity of the complaints and hostility towards
FEC.Case in hand...I too, received this card through a pre-approved offer
during my start-up. During the ebbs of our cash flow, we've had the
opportunity from time to time to talk with customer service. From our
experience, one hand does not know what the other is doing. Customer
service has brazeningly lied to us. Of course, they always "apologized"
repeatedly throughout the process..even when asked not to.Just recently,
after speaking with 4 different people, each with a different explanation,
we finally asked to speak with the CEO so that we could remedy the
situation. After much deliberation, we finally got the number. Turned out
the COO didn't know he had been promoted to CEO. Hmm...This is a pay as you
use card and nothing else! If you can't pay choose another card to make it
through the cash flow ups and downs.Respectfully submitted,Steve |
| 58 |
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Carol in Florida
33609
Complaint_against: First Equity Card Corp
Complaint: Ditto to the complaints about this company. Yes, they promote
teaser rates that last about one billing cyle. My rate is now 23.99%! And,
I have good credit. Poor customer service. Do NOT get a First Equity Card
for your business. |
| 59 |
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John
Weaverville, NC 28787
Complaint_against: First Equity Business Card
Complaint: Don't bother with this joke of a company. I pull in over 1
million a year and these losers offer a card with $1000 limit at 26%
interest. American Express beat them by $15,000 on the limit and 10% on the
interest with the same information. This company is a joke so don't waste
your time. |
| 60 |
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Cameron
EmailAddress: GVCAINES@SCCOAST.NET
Complaint_against: First Equity Card Corp
Complaint:
Well, I finally got enough money to pay off this horrible credit card. I am
being charged 27.99% and the way its going it would never be paid off. I
tried to find there website to transfer the money to pay off this credit
card and of course it's difficult to find any info. Stay away from this
credit card. HUGE MISTAKE!!!! Customer service is horrible too.
This company gets an F-. |
| 61 |
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Jerry Romo
fort
EmailAddress: jreyromo@yahoo.com
Complaint_against: first equity credit card
Complaint:
is in not strange and contradicting this statement made from someone who
supposedly works for them "First Equity does not use pre-screened or
pre-approved offers, and information on interest rates / APRs is i0ncluded
in every offer and with every card that is issued."
Every company that sends out offers says that you have been preapproved so
anyone knows that
1) you start your argument with a bold lie
2) everyone seems to be on the same page in the compaint they have against
you so either that means we are all related or you actually do what we are
saying
3)you will be found for the fraud you are doing |
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Keith
Fort Lauderdale, FL
Complaint_against: First Equity Business Card
Complaint: Bad business practices prevail with this Visa issuer. I have
several branded business credit cards, including Washington Mutual, Capital
One, Discover and First Equity. I have had the First Equity card for about 2
years. I was granted a liberal credit line at 9.9% APR. My balances vary
on the card from month to month and have never been late. After more careful
review of my statements, the APR "silently" rose to 18.9% one month, then a
few months later 23.9% and then most recently an astonishing 29.9%. I paid
off the balance and contacted their customer service department and informed
of the situation. After checking my account for lates, defaults, etc, the
APR was restored back to the 9.9%. I was told the account was "flagged" and
moved into the non-preferred category, but given no reason why this was
done. Needles to say, if I wasn't reviewing my statements, this sneaky
tactic would have gone on longer. I guess they figure if they can rob 1 out
of 10 cust!
omers by silently raising the APR without reason until the customer
discovers this tactic, it adds to the already grossly inflated profit these
banks make on the backs of their customers. |
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Bernard
New York, NY 10011
EmailAddress: bbastin@aol.com
Complaint_against: 1st Equity Card
Complaint: BEWARE!!!!!! - this company is a total thief, if at all possible
do not subscribe to this card.....I was 1 dy late and they raised my rate to
23%...Thank God i had a good month and am now able to pay the entire balance
and close this account. And they say New York banks are thieves.... |
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KatFish
Buford, Ga
EmailAddress: gotdraft@yahoo.com
Complaint_against: First Equity
Complaint:
So I got this offer in the mail today. And as I usually do, I researched
them online to find out who they were. I can't say I am all that surprised
at the complaints on here. After all, I don't even own a business!! But
received this offer in the mail and it has the name of one of my websites on
it. It's a personal website, which by the way, is no longer online and hasnt
been in a few years. Nor do I even own the domain name any more haha. Never
been in business for myself, don't plan on starting one up. So that was red
flag number one.
Number two, as people say on here, where's the contact info at?!?! I see a
fax number of 866-507-2432 on the enclosed application. After reading the
terms of service and small print, I found another phone number,
215-631-9470. It's under the section titled "FOR ADDITIONAL INFORMATION". I
haven't even bothered with calling it, not interested.
My advertisement calls for one of three cards. Where the APR is listed - "As
low as" 0%, 6.9% and 9.9% depending on which card you are approved for. Of
course, the last one is the Platinum Classic card which comes with a $39
yearly fee. I see people complaining about this. But it states right there
in the fine print, if you are not approved for the Premier or the Plus card
and are issued a Classic card, there is a $39 yearly fee. YOU HAVE TO READ
THE FINE PRINT! Don't ever take for granted what is printed on the offer
without reading ALL of the fine print!
Default APR's are listed as 25.99%. Meaning, if your late, there goes your
rates. Then again, by reading the numerous complaints here on this company,
I wonder if anyone actually benefits from a decent rate, or even the
advertised "TEASER" rate (as if I believed that statement above from someone
that supposedly works for First Equity). It also specifies that your
variable rate may range from -5.32% and 20.67% for purchases. Your intial
credit line and APR are determined at the time you apply... once again, YOU
MUST READ THE SMALL PRINT, it's all written in black and white. I found no
promises of low APR's anywhere in this advertisement. Only statements of "AS
LOW AS". But the smaller print explains it all.
The website is way too lacking! As everyone else here has said, the contact
page contains three different addresses. No phone numbers.
Anyway, thanks to those for making this type of information available. My
application is headed right for the shredder. Sounds like a nightmare
company to deal with. Customer NO service!!
Someone else mentioned in here about cancelling their account and sticking
with their debit card. THATS THE ONLY WAY TO GO THESE DAYS! No finance
charges, no membership fees, no monthly payments, no APR's. What's not to
like! :-) Check out Dave Ramsey and read up on his take about credit cards.
;-)
Chuck |
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Anonymous
Complaint_against: first equity
Complaint: Thanks to all for sharing. I checked on First Equity as I got an
invitation as well. I am now shredding it, NOT "putting it in the garbage"
as some other posters have said. Please remember, that's a common method to
have your identity stolen. |
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Hani
Pittsburgh, PA 15217
EmailAddress: kushk@verizon.net
Complaint_against: First Equity Card Corp.
Complaint:
Wow! Glad I found this! I got an offer today in the mail. Sounded too
good to be true - high credit line and 0% long term APR, so I wanted to call
them.
Of course there was no number on application, so I came to the website to
look for a number, which didn't exist. There was no email either. So I
googled First Equity Card Corp. to see what I could find, and I'm so glad I
found this web site before I applied for this card!!
Sounds like a disreputable company with disreputable people! I just ripped
up the application form and tossed it.
I plan on checking out this web site in the future before applying for
credit cards!! |
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Mark
Grand Rapids, MI
EmailAddress:
compass_chemical@sbcglobal.net
Complaint_against: First Equity Card Company
Complaint:
Its nice to know I am not alone in this. I opened my account with this
company when I starter my company a few years back. Even though my payments
are on time, my interest rate kept going up. I would call, they would tell
me they will lower it. NOTHING! In fact, last month I was promised a call
from a supervisor to "get it worked out". NOTHING!
I have been promised several times over the last three to four months that
it would be taken care of. These people will lie to you, promise to fix your
problem, then do nothing. HERE IS THE BEST PART:
when you call them back, magically they have no record of your last call. I
STRONGLY RECOMMEND NOT USING THIS COMPANY! |
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Maria
Dallas, TX
Complaint_against: First Equity Card
Complaint: Complaint: I just wanted to thank the folks that set up this
website and the others for posting their experiences with First Equity. I
too received an offer from First Equity and was about to respond to their 0%
offer when I tried to call them and couldn't find a phone number. I wanted
ask questions, not being familiar with them, in fact not ever hearing about
them in the past, and thinking I can apply over the phone--I feel its more
secure. I also did not find a number on the application only the website
and a fax #. So, I googled inquiry and here I am. I was close to being
their next victim. Thanks guys. I just used their pre-paid envelope to
send back their offer and cut off all my info including the code on the
front lower left side of the offer right before the tear off them back - I
liked that idea. |
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mike
houston tx 77063
EmailAddress: mike1226@myway.com
Complaint_against: first equity card
Complaint: This company is going out of business they just put a hold on my
card and refuse to explain it. the phon # 2156311201 ext 101 to 109 nobody
in the office customer service dont have any explonation eaither. what a
joke. mike |
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W. Eric Cloud
ashington, D.C. 20002
ailAddress: CloudLaw@aol.com
omplaint_against: First Equity Credit Card
Complaint:
I am an attorney in Washington, D.C. I represent a senior citizen who is the
victim of identity theft. A preacher stole his personal information and
applied for a credit card with First Equity Credit Card Corporation which is
a subsidiary of Columbus Bank & Trust of Columbus, Georgia. My client and I
have repeatedly advised First Equity that he never applied for credit with
them and never used the credit card that was sent to the preacher. They
continued to call three times a day, seven days a week, at all hours of the
day. I sent them a letter of representation which should have stopped the
collection calls from a reputable company, but not First Equity. The calls
continued unabated. By the way, it is almost impossible to find out First
Equity's address. The company goes to great lenghts to conceal its true
business address which is: Columbus Bank & Trust of Georgia, First Equity
Credit Card Corporation,1148 Broadway, Columbus, Georgia 31902.First Equity
has trashed my!
client's credit rating and caused him considerable stress. I am now in
litigation to stop First Equity's madness. IT WOULD BE MY CONSIDERED ADVICE
TO NOT DO BUSINESS WITH THIS COMPANY. |
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john
alabama
EmailAddress:
razorsharp153@inbox.com
Complaint_against: First Equity
Complaint: Do not use or cash the convience checks. They sent me checks with
a $6,000 limit, I cashed one to pay off something for $2,300. The check came
back 2 weeks later as insufficient funds, which of course caused other
checks to bounce in my account. We called to talk to them, they advised the
day after the checks were sent that my limit had been lowered without
telling me. They could not state a reason for this and advised that it is
perfectly legal. They said I could "find this information in the fine
print".So even though they send you a book of checks that advertises that
you are approved for $6,000 @ a 3.9% rate, they can change this with out
telling you. I have never been late with a payment, they even verified that.
STAY AWAY FROM THIS COMPANY!!!!!!!! |
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greg
strasburg co.80136
EmailAddress: korbjune@aol.com
Complaint_against: frist equity business card
Complaint: in march of 2007 the number was stolin and about $2200. in phone
cards charged to my first equity account over a period of 8 months I am out
of town a lot and did not discover what was going on untill I returned home
I emailed them in june of 2007 it was ignored again in sept 2007 it was
ignored again in nov.2007 they informed me they would investagate and let
me know they took $695. off oe the account then infromed me again they must
do more investagating aftr 120 days they sent a letter stateing I was
responisable for the bill and put the $650 back on have added misc. fees
large intrest fees late fees I thought this was a good thing for my businss
but it was not stay away from this company If the number or your card is
stolin they oh well you pay. |
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John Lang
Durham, NC
EmailAddress: temp@projectEz.com
Complaint_against: First Equity
Complaint: I just received an unsolicited mail from Pat John,son, First
Equity Card. I am on the the Opt Out and Do not mail regristry so I wanted
to call them to take me out of their database. Despite John Yardley's
letter to this site, there is NO PHONE number on this junk mail that I can
call. There's only a FAX! Of course, when you dial that number, you get a
beep and not a person. There is also NO PHONE number posted on their site.
Bottom line, who would ever do business with a business tha only posts its
phone number on the bad credit card site? |
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Beth
Pittsburgh, PA
Complaint_against: First Equity Card Corp.
Complaint: I am so sorry that people have had bad experiences with this
company. I have been using them for a couple of years now with no
problems. My APR is 13.9% with a $6,000 limit, not great but not the worst
I have either. Their phone number is hard to find, but if you google "First
Equity Card phone number", it pops right up. I have made payments by phone
when I forget to send payments, and there has been no problem. The customer
service reps are polite and helpful. Maybe it depends on what state you
live in as to where your call gets routed to. I'm in no way defending any
credit card company...they're all shady in one way or another. If you live
in PA, you may want to call and talk to this company first before you
dismiss them altogether. |
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Bob
NH
Complaint_against: First Equity Card
Complaint:
I have to say their accountants are out to lunch... we make payments on time
all the time... yet I am constantly getting calls becuase my account is past
due... and now from a collection agency... I have cancelled checks, with
their stamps and even have told them what account they are depositing it
into and the bank... yet they refuse to believe or even bother to check...
DON'T USE THESE GUYS.... Very rude... and they really don't know what they
are doing... |
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Brian
Complaint_against: First Equity Card
Complaint:
I do not want to waste any more of my time today. Suffice to say, we paid
off our entire balance in one lump sum two days ago. Our check cleared of
course. To our surprise we tried using the card today to pay a supplier only
to have it declined. Getting past the embarassment, and after getting the
run around by not knowing who to contact, which bank owns who (is it first
equity card or columbus bank and trust or synovus), was told that there is a
5-7 day hold until our bank verifies in writing the check was good. I asked
if I could have my bank contact them and get resolved today, and they said
no, it is their policy to wait 5-7 days. I asked for a supervisor. I only
got as far as a call center supervisor. I asked for someone in their
business, as an officer I could speak with. I got nowhere and they continued
to repeat the same thing over and over. I could write or fax them with my
complaint.
I hunted around and found that they are located in Columbus Georgia, but
First Equity was not listed in their directory. I asked another supervisor
when calling a different number if I could be put in contact with a business
person, not someone on the call center side of the house. Again, I was
declined. They would not provide any information on the company, where they
were located, any people I could speak with. My gosh. I have been in
business 29 years. I have called reputable companies and been able to speak
with senior management; be it Boeing, MasterCard, Anheuser Busch, Northwest
Airlines. Every company makes their executives known and available. This
company appears to be tetering on the edge of bad busines practices, even if
legal.
I am registering a complaint with the Georgia Attorney General Office
tomorrow, as well as the Columbus BBB, VISA and my local media, which i
believe may be interested in investigating this company.
I have sent an email asking to cancel our card, which has a credit balance
on it, but again, we cant charge anything. Have you ever heard anything so
ludicrous? I am also mailing them and calling them.
I also left a respectful message for the person that responded to the posts
in this site. Let's see if he will call me back. Thank you all for
contributing to this website. |
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Jennie
Sumter, South Carolina 29150
EmailAddress: elaineroq@ftc-i.net
Complaint_against: First Equity - Columbus Bank
Complaint: Beware of this Company! They say that they are there to help
small business and there is nothing futher from the truth. We are a fairly
new company that fail for First Equity. We have always paid before time
because we have sales people traveling from state to state, so we depend on
these cards. Two months ago our sales people had to go to Texas for
training and I started getting calls from the guys saying that their cards
where being rejected. I called First Equity and was told that the Corp had
put a temp freeze on the account to check it out and that it would be open
in 3 days. This is the second time that they have done this to our
company. One of our employees was taking a group of clients to dinner and
guess what? This is not the way you conduct business. They are hurting our
business not helping us at all. STAY AWAY FROM COMPANIES THAT TELL YOU THAT
YOU CAN NOT TALK TO THE CORP OFFICE! |
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Dave
Sacramento, CA
Complaint_against: FIRST EQUITY CARD
Complaint: I DON'T HAVE A BUSINESS, AND I'VE NEVER OWNED ONE IN MY
LIFE...WHAT A JOKE THIS COMPANY IS. |
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michelle
Complaint_against: first equity business card
Complaint: bottom line the worst!!!!!!!!! i have good credit and they
lowered my credit line after i transferred another balance! terrible
customer service as well. DO NOT GET THIS CARD!!!!!!!! |
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N Matin
Colonial Heights, VA 23834
EmailAddress:
matinpropertiesllc@comcast.net
Complaint_against: First Equity
Complaint: I would like to take this opportunity to thank all that have
lodge complaints against this firm. As a new small business owner, this site
has been invaluable. But where do we go? This is so familiar to the current
housing monsters that are mentioned on TV ever day. I too like so many of
you, getting ready to apply. The first RED FLAG was there were no interest
rates for cash advances for a card that claims to offer a line of credit.
This is the second time this website has saved me from what could be very
costly. Thank ALL of you again. To John, from FIRST EQUITY you should find
another job or start your own business. Then ask yourself would you use
FIRST EQUITY? |
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DMZ
New York, NY 11379
Complaint_against: First Equity Card
Complaint: WOW!!! I applied last week, and was wondering when I will hear
from them. I look at the letter they send me couldn't find a contact number.
I went to their website and no luck. Somehow, I find this website. I started
to read all the complaints and begin to get nervous as I read all the
complaint. By the time I read the last complaint I thought I have made a big
mistake. I called all the numbers provided on this website, but only got
recordings. So I thought there's nothing I can do besides wait for the card
to arrive. I went to check my mail and there it was. My First Equity card
was in the mail box. I opened and called them right away and cancelled on
the spot. I got my card and cancelled it on the spot. When I was listening
to my account information, it does NOT match what is shown in the letter
they send me. My credit limit on the letter shows $8000, but on the phone, I
was told my credit limit was $6000. They really are dishonest. Thank
goodness for this website. I just called a more reliable Citibank and apply
for another one. This bank should be ok. I hope! Thank you all for
contributing to this website. I hope whoever is going to sign up read this
before they decided. Wish I'd found this before I waste my time.... |
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| Linda Polar |
| MD |
| linwarpolar@yahoo.com |
| Complaint_against |
First Equity Card Corp
|
| Complaint: After reading the previous
posts it has become very obvious that this company's practices are
more than a bit shady and should be investigated by the FTC as well
as any states attorney offices that they are allowed to conduct
business in. So to add to the chain here is my horror story. Much
like everyone else here I am a small business owner and was in need
of some backup finances and interested in building up our credit. We
were approached by First Equity and decided to accept their credit
card offer. We used the card for small purchases at first, and our
credit line quickly grew. Unfortunatly our business went into a bit
of a slump and we found ourselves in a situation where we needed to
take a cash advance to keep the business afloat for a short bit. In
November, we ended up paying our bill late which resulted in First
Equity stopping additional cash advances. We then caught up the
payments and while our interest rate sky rocketed (which we accpeted)
our credit line also was re-instated or so it seemed. At the end of
April we received our monthly statement reflecting we had roughly
$2000.00 available for cash advance. We also checked their website
to confirm and the customer support line also confirmed the amount.
To cover some expenses on 1 May I wrote a cash advance check to my
bank for around $1700.00 and then proceded to write checks against
my account. Last night Friday 9 May I received a statement from my
bank saying the $1700.00 check was declined by First Equity. I
checked with my bank and found the $1700.00 check was attempted to
be processed twice declined both times. We then called the customer
support line to check our available cash advance and it still
reflected $2000.00 available. Today, I called the support line and
spoke to 4 different people only to find out that First Equity's
coporate office had put a hold on my account in December and never
removed the hold. In addition, they never contacted me or indicated
in any form of communication that my account was on hold. I pressed
the agents to understand how all of a sudden available credit was
listed on all communications available to me with a hold on my
account a question they could not answer as the hold came from the
coporate office which is closed on Saturday's. I asked for
escalation numbers to get this resolved imediately as now checks
were bouncing in my bank account as a result of the declined funds.
I was advised that there were no escalation points of contact and
that the account was being sent for review and a decsion would be
made by the coporate office in 2 business days and I would receive
their decision at that time. That was the first set of calls. I
called back 30minutes later to be told the same information with one
point left added, that I would have to contact them in 2 business
days. I asked for the coporate office phone number and was advised
that they did not give out the number and I WOULD Have to call
customer support in 2 busness days for the decision. I have decided,
to attempt to solve the situation with bank without taking the cash
advance and to pay and close my account with First Equity as quickly
as possible. But I will not end this without a fight as they
deceived me by their false bank statement, website information and
phone line support. The result will affect my future credit as well
as my bank account as I will have to pay all the fees associated
with bounced checks. So I have done some digging and have determined
a few things while it appears that First Equity Card Corp is funded
through Columbus Bank & Trust in Columbus GA, their coporate offices
are actually located at 1120 Walsh Road, North Wales, PA 19454-3794
(215) 631-1201. President of the company appears to be Tim Clarke
and Todd Rosentover is VP, both gentlemen are listed in the company
directories which you can access by pushing the first letters of
their last names. In addition, I'm not quite sure who John Yardley
is 215-631-1201 ext 102 but I'm assuming he is a just a collector
with a bad conscious, the janitor or a PR person (thus the long
statement posted at the top of the complaint lists on this website
defending his companies practices) whom I will or my lawyer will
have a chat with in addition to the other named individuals on
Monday. My hope is to begin a class action suite against this
company and put an end to their deplorable business practices. |
|
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| Robert |
Indiana
Complaint_against: First Equity Card Corp
Complaint: my recent statment form First Equity showed that they had
raised my interest rate to 30% THIRTY PERCENT!!!!! Since I have
never missed a payment and either pay over the minimum or pay off
the balance, I called to see why this happened. "Well Robert, it is
our new policy". I request a supervisor, was connected to one, and
got the same story except that she said they would be willing to
drop the rate to 23%. I closed the account then and there. Though I
had no problems prior to this, this is all I could tolerate.....I
would not recommend this card to anyone. Too many other great
companies offering businesses credit lines at great rates. |
|
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| Anthony Agrio |
Covina, CA. 91791
buscar95@gmail.com
Complaint_against: First Equity Credit Card
Complaint: I understand fully if I charge anything on
the FE CC it is my obligation to pay it back as its the the money of
FE CC that I am using. I pay off the balance every month. My
complaint is that FE CC is NOT consistant in their statements on the
phone from one day to the next. This JOHN YARDLEY " clown " who
wrote this web site to have certain posts taken off ( he works for
FE CC ) is not professional enough to call a customer when the
customer wants a consistant application of its own rules. In short,
after reading the entire CC agreement FE CC just plain LIES. Yardly
is! such an unprofessional person that he is afraid to call me and
address the problem like a real professional. My next communication
is to the Federal Trade Commission. |
|
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| mike |
kissimmee fl
Complaint_against: first equity card
Complaint: i put in for the card its 90 days
now and i did not get a card from first equity. i see 30+
complaints against first equity is it that bad? |
|
|
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| William |
New Jersey
wlsullivan@hotmail.com
Complaint_against: First EquityComplaint: I
can vouch for the complaints already mentioned on this page. They
are likely all valid. First Equity Card is to be avoided. 1) First
Equity Card Corp slowly ratchets up rates to usurious levels. 2) If
you make payments on your balance by bank transfer, be sure to place
your transfer order more than 7 days before the payment due date--it
may take that long for the funds to be credited to your account. 3)
If your payment is not received by the due date, expect rude and
harassing calls to begin immediately. 4) If you withhold payment
pending verification of charges, expect late fees. 5) If you like
receiving SPAM, this is the card for you--I received 20 unsolicited
emails from this company within 12 hours. (I carried a $0 balance at
the time.) A final note: I am 37 years old. I have never taken the
time to write a letter of complaint. I have never posted comments
about a company in a public forum. My former First Equity Card has
inspired me. |
|
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| Irate Client |
St. Petersburg, Fl
Complaint_against: First Equity Credit Card Corp
Complaint: DO NOT GET A CREDIT CARD FROM THIS BUNCH
OF THIEVES. I fell for the sales pitch to get a c/card for my
business from these robbers. Nice looking card arrived with a rate
of 15% After a few months I put a couple of big ticket items on the
card, as I needed to wait for money coming in. The quickley lowered
my limit from $9000 to $6000, without telling me, and then UPPED the
rate to 29%. Despite several emails and calls, they absolutley
refuse to drop the rate and inform me they can do all this as it is
in the small print. My payment went through the roof. Now let me add
that I have never missed a payment and am completley up to date with
them, and I have no bad credit reports from other companies. I told
them I would be paying the balance off and not dealing with them in
future, their response was " you are free to do whatever you want "
Save yourself aggro, DON'T get a credit card from these financial
jerkoffs ! |
|
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| tim |
florida
Complaint_against: First Equity Card
Complaint: I'm glad someone at First Equity reads these complaints.
I had a problem the last few years, namely a spouse that spent money
like water. I got rid of her and have spent most of this year paying
off cards. Three cards to zero and another this month will be gone.
Problem is, after no late payments or problems of any sort
whatsoever, First Equity has raised my interest rate from 19% a few
months back to 24% then .... drumroll.... 27.9% and 31.9% on
purchases and cash advances on this month's statement. Guess what
First Equity, in two months my $4K balance will be zero and you'll
be done too. I will never forgive and forget your shady practice of
interest rate jacking. I won't call to complain. I'll simply get my
balance to zero and cancel my card, and, of course, write little
warnings to others about your company. I reiterate - I have no
credit issues whatsoever that could possibly warrant First Equity
cranking up my interest rate. All I can say is HSBC did the same
thing on one of my HSBC cards (18% to 29.9%) while another of my
HSBC cards remained at the same favorable rate. I never complained,
I simply paid them both off and then canceled both out of principle.
Your next First Equity. My warning to all: Do not do business with
First Equity because they will up your rate for no reason other than
to extract as much as they can whenever you carry a balance.
|
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| Peter J Burkdorf |
Albany, NY 12203
pete151968@yahoo.com
Complaint_against: First Equity Card Corporation
Complaint: On or about June 1, 2008 I received an
envelop with two credit cards in my name from First Equity, then the
next day two PIN numbers from them. I had never heard of them, not
did I put in any type of application. Immediately I called them and
had the account cancelled. I requested a copy of the original
application and they said, fine we will send it right out. In the
meantime I shredded the cards and PIN numbers. Again I called asking
for a copy of the original application and a letter comfirming my
account has been closed. Today, July 18, 2008 I made my fifth(5)
telephone call requesting this information and the story changes
everytime. Still have not received anything. Today I asked the exact
address of their office, I mentioned the sign going up on my lawn
saying "First Equity SUCKS" and they tell me now that I need to fax
a letter to them requesting this information. What should my next
step be? Can I sue, or is there a class action lawsuit against these
scum building? I want to be heard and I want to be heard very
loudly! Pete "Pissed in Albany" |
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| Sandra Corcoran |
Kingwood, TX 77345
sandycorcoran@tessusainc.com
Complaint_against: First EquityComplaint:
To the janitor above. I
wish I had found this site long before I signed onto this card. I
have never been so frustrated with a company ebfore in my lkife. Not
only do they not tell the truth...they string you along for months
before giving you an answer. This company offered me 3 convenience
checks to consolidate other crdit cards. They offered $9000 with
interest free until 2009. I paid off two credit cards for under this
amount. They negated the second check, the day it was posted to the
credit card company I was paying off...thus incurring fees with that
credit card for bounced ch! eck, late payment and over payment fees.
For two months I have been going back and forth with their
correspondence depattment who pushes me off, denies they have
received faxes, does not act on the documented info they requested
of me. Finally, they tell me they can no longer honor the check
because it is past the offer date, they can not fix the first
problem because I am now "out of the bucket" of the original offer,
and even though their supervisors could see no reason why the
original pay off was denied, they just can't do anything about it
now....I am so pissed off at this company, they feel like real scam
artists to me. ON top of that they told me my original credit card
that the coneveneience checks was issued to was nolonger in service,
so I need to order a new credit card....and guess what??? The
original offer for the one account I did transfer and they accepted
was now at 24.9% interest....thes people should never be allowed to
continue in business. |
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| WIlliam |
Fort Walton Beach, FL 32547
Complaint_against: FIRST EQUITY CARD
Complaint: What? The janitor from First equity card claims in above
answer "First Equity does not use pre-screened or pre-approved
offers" yet right on their home page the first thing you see is "The
First Equity Card is available by invitation only. Our core product,
the First Equity Platinum Small Business Visa and MasterCard, is
offered only to the nation's most creditworthy small businesses. We
periodically ask specific small business owners who value their
reputations and credit standing to apply for the card through direct
mail solicitation. That sure sounds like they not only use pre
screened offers, but use them exclusively! They sound like such a
nice and "SMALL" caring company from their response. I could go on
and on about this company, but let me just warn you. If you do
accept their offer beware! You can make your payments regularly and
within the billing cycle, but if you fail as I did to watch what
they are doing you will get at $39 Late payment charge for any month
the payment was received in the later half of the cycle. In other
words if the statement is printed on the first, your payment had
better be in by the 15th and not the 25th. Don't use them for
anything where you carry a balance! They will jerk your interest up
to over 30% which I had never even heard of and didn't think was
even legal. I know many of you that get this card's offer are busy
trying to run a small business, but you MUST pay attention to every
thing these people do. They don't go by the conventional practices
that you're accustomed to. They are not your friend, They are not
your partner, They do not have your interest at heart, they are
unresponsive and have no public relations department that is going
to LOWER YOUR RATE when you call to complain. When you get that
offer, my advise is to throw it in the trash. If you can deal with
someone who's always there waiting for you to let your guard down to
get you, these people may be for you. Willian, Fort Walton Beach, FL |
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| Anonymous |
| Complaint_against: First equity card
Complaint: Rip off, they lie about what they have to
offer. I opened an account with them based on no annual fee, 9.99
APR. I get the card and within 3 months, my interest rate was 34%, I
did not even know you could do that, I got charged annual fee, after
I paid my balance in full, they called me to say I was owing 7
dollars finance charges. DO NOT GET THIS CARD. THEY ARE RIP OFFS |
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| ANDY |
FT. LAUDERDALE,FL33351
LAKESELEC@AOL.COM
Complaint_against: FIRST EQUITYComplaint:
STAY FAR AWAY FROM THESE PEOPLE. THEY GAVE ME $10K LIMIT. 2 MONTHS
LATER WITHOUT NOTICE DROPPED TO 5K. AFTER A DEADEND WAR WITH THEM I
JUST PAID BALLANCE EVERY 10 DAYS. THEN THERE NEW DEAL WAS I COULD
ONLY SPEND 5K REGUARDLESS OF BALLANCE. CLEARLY THEY ONLY WANT
CUSTOMERS THAT CARRY BALLANCES. I HERE THE RATES ARE VERY HIGH. KNOW
WHAT YOU ARE GETTING INVOLVED WITH BEFORE YOU START. I TRIED EVERY
NUNBER IN THE FREE WORLD, EITHER THEY DON'T RETURN CALLS OR THE
DON'T EXSIST OR THE COULD CARE LESS. I HAVE A LOT MORE COMMENTS BUT
IT WOULD INVOLVE MANY BAD WORDS. ONLY THING IS FOR SURE,
|
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| Dark |
Holder, FL 34445
Complaint_against: First Equity Card
Complaint: I'm sure we are not unique in stating that many new
companies have problems obtaining the needed financial and good
credit standing with banks, suppliers, credit card companies, etc.
We had our share when we opened the doors three years ago. Early on
and despite the bad press, we contacted First Equity. They issued us
a card with a reasonable limit, although a disproportionately high
interest rate. We considered it part of the cost of doing business.
All our normal recurring business expenses were applied to the card
and have had no problems until this p! ast week. Our balance is 25%
of the card's limit. All our monthly payments have been on time.
Then last week, our suppliers notified us that their billing was
declined by First Equity. We contacted First Equity Customer
"Service" only to discover that our account had been suspended
pending re-evaluation? We were unable to obtain any details or
explanation of their action. We did request the card be returned to
active status, which they did - but they dropped our limit to within
a few dollars of our outstanding balance, rendering the card
useless. We were notified an explanation was being sent via mail. We
consider (and expect) all our vendors, our suppliers, our bank AND
our credit card companies to be our business partners; each sharing
in our overall success. As such, we expect excellence and strong
business ethics in all our relationships. It is apparent that we can
no longer include First Equity as a reputable business partner. We
have spent considerable, valuable time attempting to contact John
Yardley of First Equity. It seems he runs a mail drop that passes as
the "corporate office" in PA. We've also been in contact with First
Equity's backer - Columbus Bank & Trust. They are very apologetic
but very vague and evasive about any relationship with First Equity.
I've read Mr. Yardley's post on this site. He states, "Because we
are a small company and our business is limited to offering credit
cards to small businesses, we are disproportionately harmed by the
negative material about our company presented on your website". So I
will issue a challenge to Mr. Yardley and First Equity: Scrap your
fine print, quit scheming with your "work-a-rounds". Let us know who
and where you are. Treat your card holders with a professional level
of respect. You have the ability to offer new business owners a very
needed service at the time it's needed most - at startup. However,
operating as you do will only bring failure; to First Equity and
those in financial partnership with you. We all begin as small
companies, Mr Yardley. The fact that you consider First Equity
(still) a small business is probably the result of your work ethic.
We all strive for growth and success. You and First Equity now
hinder all our collective goals. |
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| Dr. William W. Wood, MD |
Rockford, IL 61103
doctorwwwood@mac.com
Complaint_against: First Equity Credit Card
Complaint: Every complaint on this web site is absolutely valid. I
have experienced the very same problems with First Equity and I
finally had enough of trying to be reasonable with these scammers so
I closed my account tonight. No amount of PR from Mr.Yardley will be
able to overcome the absolutely unethical and illegal behaviors of
First Equity. So, Mr. Yardley, my advice to you is to find yourself
another job before you find yourself embroiled right along with your
company in more lawsuits, FCC complaints, and a host of other
unpleasant consequences than you can presently imagine. My wife, a
third year law student at the top of her class, is committed to not
only making First Equity accountable for its misdeeds and unethical
business practices, but also to having them pay big bucks for their
arrogance and for the harm they have done to others. If you think
that the complaints on this page are trivial and will never amount
to much, if anything, in the way of problems for First Equity, then
you are naive as well as mentally challenged. You have not known
wrath until you have encountered the legal wrath of my wife. My
friend, I implore you to do yourself a favor and get out while you
can. Life as you and First Equity have known it is about to change
in the most unpleasant way imaginable. Don't say I didn't warn you! |
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| Sonya |
Atlanta GA
Complaint_against: First Equity Card
Complaint: I wish I had found this site before I accepted this card!
Like others, I thought to use this card as a financial hedge if
things got rough with my business and sure enough they did. I was
doing ok with the payments, but I missed a payment and paid dearly
for it. I called and tried to negotiate, but my APR increased to
30%, I was charged the $39 late fee AND they lowered my credit
limit! I have tried twice to get my APR lowered and have asked if
they have a hardship program, but to no avail. Their website is
poorly designed and they do not provide information in their account
summaries like other companies and I have yet to understand this
"APR spread" that they use to calculate your finance charges. I
asked for another copy of my credit card agreement and the rep said
she would "put in a request" to have it sent. She seemed surprised
that I asked for it and I seriously doubt I will get it.
WARNING:STAY AWAY!!! |
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| DeeDee |
North Carolina
Complaint_against: First Equity Card
Complaint: This company will rip you off. I paid my credit card
always on time. I got to a certain limit and decided I needed to try
and pay this card off. My interest rate was low, and I wanted to get
it pay off. I stopped using the card and got a letter in the mail
stating they had caneclled my card because I had not used it in a
while. I thought, thats ok with me because I am going to pay them
off anyway. But what I didn't expect was that they would cancel my
card at a 9.99% interest rate and raise my interest rate to 32.10%.
I have never been late and always paid on time. Now my monthly
minimal payment! constantly is going up. You can't pay this card off
unless you get a loan or transfer to another card. PLEASE DO NOT DO
BUSINESS WITH THIS COMPANY, THEY WILL RIP YOU OFF. |
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| Antonio Hernandez |
Miami, Florida 33142
chambelon@aol.com
Complaint_against: First Equity Platinum Business Card
Complaint: I had a credit limit of $8,000.00 and
hardly used the card. Then they lowered my credit limit to $1,000.00
and every time I tried using the card they would decline it. Today
9/11/08 I called up after being declined and they put my account on
hold with no explanation. Zero balance and zero credit. This company
seems to do whatever they feel like doing when they feel like it. I
currently have a Platinum American Express, a Gold American Express,
and other credit cards that treat me fair. This company is an
example of one of the worst banks in this nation! and should not be
allowed to continue doing business. They are very insensitive to
peoples' needs and don't care about anything except themselves. I
urge everyone that has problems with them to file a formal complaint
with the Federal Trade Commission and maybe with enough complaints
the government will investigate their questionable credit card
practices. Antonio Hernandez |
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| Michael A Grubaugh |
Akron.Ohio
mikegrubaugh@yahoo.com
Complaint_against: First EquityComplaint: I
received an offer for their card and thought how nice I can really
use this right now. well after using the card for a couple of months
I started to get declined and to mention I always made my payments
on time and more than the min due. I called them and after playing
the button push game I talked to someone live...she explained that
they put a security hold on my account and there is no available
balance. I asked why and she said she had no idea. she told me to
call back in a few days and they should know something...I'm
canceling this joke. |
|
| 100 |
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| jeremy smith |
lexington nebraska
jssmith236@yahoo.com
Complaint_against: first equity card corp.
Complaint: this company is a joke...like all of these complaints i
have 1 to i was blind sighted by this joke of a company . i used to
use my card on a regular basis but with the outrageous interest rate
u got nowhere so i paid it off and called to get my interest rate
lowered and got nowhere with the babbling mumbling customer service
so i just left it at that the about 3 months later went to make a
large purchase and it was declined oh was i mad the card had no
balance .. so i called them and they say u have to talk to corporate
office which they wont give a person info to con! tact them . so i
called the next day and they tell me we cancelled your card on you .
hey first equity thanks for doing something i should have done a
long time ago |
|
| 101 |
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| Chris M. |
Harrisburg PA 17104
Complaint_against: First Equity Card
Complaint: This "company" if you can even call them that are more
like loan sharks than any reputable business I've ever dealt with. I
received an offer for a business card from them through the mail
promising low rates, high credit limits so I ended up sending in the
form when I receive the welcome package the card actually came with
20%+ APR and a $1000 credit limit. So I think that's fine I won't
carry a balance and it will be no problems. However this company
only processes your payments to your available credit once a month
even though it will correctly show your available credit on their
website and phone system but if you try to leverage it prior to the
next month you will be declined on your card. Very frustrating when
trying to make business purchases and to be declined on a card that
has a 0 balance because it was paid off to make a purchase. Next
issue with this company, they never even reported my trade line to
Experian or Dunn&Bradd. I emailed them a few times over this and
they said they report periodically and could not tell me when they
would, after having the card for 2/3 a year they still never
reported it. During the 2/3 of a year I maintained this card they
raised my rates atleast 3 separate times even though I never once
had a late payment. Generally I just laughed when they did because I
refused to carry a balance on the card to start with so they could
raise my rates all they want it wouldn't cost me a dime, apparently
they don't like customers that do this. Come this August 2008, I
went to make a purchase and once again find my card declined for no
reason. I try to find out why by contacting First Equity and all I
can be told is there a hold on my account and no one can explain why
and it will days before I can get an answer. Finally after 5 days I
finally speak with some one that could say my account had been
closed and I would receive a letter in the mail and couldn't explain
anything further. Once again I laugh at them and said thanks for
making it easier to close my account because that's why I called
again. 2 weeks later I get said letter in the mail that said they
closed my account due to articles on my credit report which is a
blatant lie as my credit did not change since I opened the account,
another blatant lie of that was that they did not even do a credit
report check until AFTER I spoke with them on the phone the
following day as I am enrolled in a credit report / identity theft
monitoring service. My account must have had a hold on it for even
longer than I knew about because it had been 2 weeks since I even
used it until I received my card declined notice from a merchant.
Personally I'm considering suing them for Fair Credit Reporting Act
violations for wrongfully obtaining my credit report AFTER they
placed a hold on my account in an attempt to cover up their removing
a customer that would not play by their rules and carry a balance on
their card. Stay away from this company they will attempt to shaft
you at every turn, and if they can't shaft you they will then drop
you for no reason and cite some magical reason AFTER the fact. |
|
| 102 |
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| Andy |
Birmingham, AL
alphaprocessing@aol.com
Complaint_against: First Equity Card Corp
Complaint: I have had an account with FECC for about 18 months.
About two months ago I made a payment over the phone from an account
that has an ach block on it and realized soon thereafter what I had
done. So I called and did another payment from a regular account and
it went through fine. Both payments posted the same day and before
the due date. The first payment rejected from my bank as I suspected
would happen. I was charged a $39 payment reject fee which I realize
was my fault and I am not complaining about. However they decided to
freeze my account since a payment rejected even tho! ugh the other
payment went through fine. When I inquired about this they said they
would have to do a "credit review". I called several times over the
next two months and they could never give me a straight answer but
said they would re-submit the review. Based on what I am reading
here this company has major issues. My problem seems insignificant
compared to many. I guess I will just close the account as it
worthless in this frozen state. |
|
| 103 |
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| Robert |
Central Illinois
drrobertbrown@yahoo.com
Complaint_against: First Equity Card
Complaint: THIS CARD IS THE WORST! This VISA card has
been nothing but trouble ever since I started using it. To begin
with, First Equity allowed a vendor to run through a large charge
twice (in error), causing me to go almost $1,000 over my credit
limit. I was charged two over-the-limit fees of $39 over the next
two statements. In defense of First Equity, they did reverse these
charges. Then, I went on vacation and went to use my card to pay my
hotel bill and it was declined even though I had enough available
credit. Supposedly, there was a 15 calendar day hold on my card for
the au! thorizations that this hotel placed, and this caused my card
to decline. It also used up almost all of my available credit for
the next 2-3 weeks, making my card unusable. Finally, I went to pay
for a small car repair with this card earlier this week and it too
was declined despite having enough available credit. I called
Customer Service and they informed me that a temporary hold had been
placed on my account from the corporate office, but could not
provide a corporate phone number. I was told to call back in two
business days to see if the temporary suspension would be lifted.
Two days later, I called Customer Service again and they informed me
that the corporate office had CLOSED my account based on information
it had received from Experian. I was amazed! I do have pretty good
credit and had never been late on this account - I honestly felt
that I was a very good customer! I WOULD NOT RECOMMEND USING THIS
CREDIT CARD COMPANY! |
|
| 104 |
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| Brian Swain |
St. Charles MO
info@towerhousecomputers.com
Complaint_against: AdvantaComplaint: Got
this card at 7.99% back in 06. Never late or overlimit. They raised
it to 15.99% in 07. Today they raised it for the last time to
35.99%. I say the last time because I paid the card off and will
never ever use Advanta again. Stay away from this rip off company.
Can you beleive 35.99%?????? Pawn shops give better rates than that.
There should be a law against that kind of rate. |
|
| 105 |
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| Anonymous |
New York, NY
Complaint_against: First Equity Platinum Business
Complaint: STAY AWAY from this card. I received a
mailer asking me to apply for a card for my new business which I
did. I opened the account, and was given a $5,000 dollar limit. I
did not use the account for several months, as my Business was just
starting up. When my first busy month came, I began to use the
checks that came with the account to pay some day workers, 3 check
witch totaled 1350.00 and when 2 of them cleared, the account was
immediately placed on "an administrative hold" with out notifying me
in any way. I discovered the problem when I tried to use the ! card
to pay for a $42.50 dinner I had with a colleague, the account was
frozen, and I was told that no explanation could be given until I
made a payment. A payment for which the due date was still 20 days
away, and for which I had not yet received a statement. The third
check which I written the same day as the other two, but mailed, was
returned to the recipient marked insufficient funds. Again with no
notification to me. The company refused any responsibility for the
check, laving me with 60 dollars in bounced check fees and the
embarrassment of having bounced a check to an employee. In the
meantime, MY first bill for them is still not even due for 2 more
weeks. I have canceled the card. Instead of helping my reputation
and credit worthiness, this card's practices have COST me money and
sullied my name with my workers. |
|
| 106 |
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| Misty |
Fort Worth TX
msmith979@hotmail.com
Complaint_against: First Equity Card
Complaint: Well, after reading everyone else's post, no surprise
here. I to have had a FE CC for several months and paid the balance
in full monthly. Have not used the card since August 2008. Today,
9/23/2008, I try to use the card and it is declined. HMM...So, I
call customer service and SHOCKER....I get the same line as everyone
else. Corporate put a hold on it, no documentation as to why, you
will have to call back in two days to determine result, no we do not
have a number for anyone that you can call or an address to write
our coporate office. No, I can not give you the CEO's name. Well, I
! told her I would do the research and this website just made it
easier. Please if you have not done so already, YOU NEED to send a
letter of complaint to the CEO and to the FTC. |
|
| 107 |
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| RAR |
Philadelphia, PA
Complaint_against: First Equity Card Corp.
Complaint: I received a "pre-approved" application for this VISA
credit card several months ago. First of all, the interest rate I'm
being charged is significantly higher than the rate listed on the
application. Second of all, First Equity just arbitrarily lowered my
credit limit by 60% apparently due to some negative listings on my
credit report, HOWEVER, my credit report has actually IMPROVED since
First Equity issued my card several months ago. I have NEVER missed,
nor been late with a payment on this credit card. Today, everybody
needs at least one credit card, but get it from a more reputable
company than First Equity Card Corp.!!! |
|
| 108 |
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| Ken Koppel |
Bedford, Ohio 44146
koppeladv@aol.com
Complaint_against: complaint against First Equity Card
Complaint: I am writing this on September 20, 2008
because I want others to know that this site isn't just for very old
complaints. Several years ago my company had some serious financial
problems. Thankfully, we avoided bankruptcy, but we lost all of our
credit. Two years ago we received an application for a business card
from First Equity. At the time I thought it was a god send because
most people wouldn't even talk to us at that time. First Equity gave
us a credit limit of $1,000 in July, 2006. It was a big help in
placing orders and keeping cash flow moving. In more than 2 years we
never went over the credit limit. We were late once on a payment in
December, 2007. Our envelope was dropped by the postman and fell
behind a chair unbeknown to us. Nevertheless, it was late and we
accepted the fee. A couple weeks ago, I took a client to breakfast
and tried to pay the bill with the First Equity Card. Our bill was
about $18.00. The card was declined. After getting over the
embarrassment, I paid with another card. I telephoned First Equity
and got an unbelievable runaround. After three people I was finally
told that my account was on an Administrative Hold and that I should
check back in three days. Before I had the chance to check back I
received a letter in the mail stating that my account was closed due
to serious delinquency. Believe me, except for the dropped envelope
we were never late. At the time of the cancellation I owed $139.36
on this card. Can you believe what a joke this company is? And
somehow, I was the one with the credit problem and they manage to
stay in business. I hope enough people read these postings and stay
far away from First Equity. More so, I hope some folks a lot more
powerful than me file a class action law suit against them.
Thankfully, things are better for my shop. We have reestablished a
good bit of credit and now have credit card limits of more than
$10,000 from other concerns. The First Equity card was thrown away
with pleasure! |
|
| 109 |
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| CHERYL |
PRESTON, MARYLAND
c_haapala1999@yahoo.com
Complaint_against: FIRST EQUITY CREDIT CARD
Complaint: I have been reading everyones experience and also feel
that this company needs to be shut down! I applied for one of their
cards and was approved for a $500 limit. I used it when we went to
Aruba, just for this and that. I was able to actually use the card
and charged around $415.00. When I got home, there was a letter in
the mail, stating that they had lowered my credit limit to $400 and
I exceeded my limit. Paid some of the bill and received another
letter that my credit limit had been decreased again, to $200.
Everytime I would get the bill I would pay on this, but did not get
anywhere because they continued to charge an over the limit fee of
$39.00, and late fee of $39.00 and the interest on top of all that.
If I was late at all, they would hound me by calling all day. They
even called my house and told my husband that I was ignoring their
attempts to collect this debt. THAT IS ILLEGAL!!! I HAVE PRIVICY
RIGHTS AND THAT IS A FEDERAL CRIME.!!! I finally sent them a payoff
today and I will never use this company for anything. Consumers need
to be aware of this "Bait and Switch" trick they use. I too have
sent a copy of this to my States Attorney General. |
|
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| g.m.d. |
graniteville sc 29829
Complaint_against: first equity business card
Complaint: I HAVE BEEN A CUSTOMER OF FIRST EQUITY
SMALL BUSINESS CREDIT CARD SERVICE FOR A FEW YEARS NOW AND HAVE
ALWAYS COUNTED ON THERE SERVICES THEY PROVIDED FOR MY BUSINESS
NEEDS. THE WEEK OF 10/20/08 I RECEIVED A NOTICE IN THE MAIL SAYING
MY CARD ACCOUNT HAD BEEN CLOSED DUE TO MY CREDIT REPORT. I PULLED A
COPY OF MY REPORT FROM ALL 3 CREDIT BUREAUS. MY CREDIT HISTORY IS
EXCELLENT. THE REASONS GIVEN BY FIRST EQUITY GROUP FOR COUNCILATION
ARE NOT ON ANY OF MY CREDIT HISTORY REPORTS. MY ADVICE TO ANYONE OR
BUSINESS OWNERS SHOULD NOT EVEN CONSIDER DOING BUSINESS WITH THIS
COMPANY LOCATED IN COLUM! BUS GA. VERY UNHAPPY WITH THE WAY I WAS
TREATED BY CUSTOMER SERVICE REPS.EVEN THE SUPERVISOR WOULD NOT EVEN
LET ME SEND PROOF THAT THEY WERE WRONG IN THERE FINDINGS, SOME
EMPLOYEE MADE A MISTAKE IN THERE FINDINGS ON MY CREDIT REPORTS, AND
I AM VERY UPSET AND WILL ALSO TAKE THIS TO THE BETTER BUSINESS
BUREAU OF GA. |
|
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| Bill Cave |
Tampa, Florida 33624
BillCave@PhoinixGroup.com
Complaint_against: First EquityComplaint:
Oct 22,2008 Our company also has a First Equity CC that we have had
for a few years. Our credit line is $10,500, and as of today we have
an outstanding balance of 2K. We pay about 2K a month. I'd like to
add that we have never even once been late on any payments, as the
payment is sent in 5 days before the due date. Today all of a sudden
the card does not work. WTF is this? I called the Customer Service
agent and was told that the acct was on a Corp Review and not to be
used at this time. What that means is anyone's guess. I did speak to
a Supervisor who said she has no explanation and that she will send
in a request to have this review stopped. I asked for a contact at
Corp but they don't have that information. Oh they have it, but you
ain't getting it. She said to call back in two days to see if this
has been corrected. Well, I have a great solution. I am going to
have our accounting dept pay this acct in full and close it. We
charged over 45,000.00 in 2007 and owe a stinking 2 grand and you
did this to our company. So Mr. First Equity agent. Tell me why this
happened in the first place and why a good customer such as our
company has to endure this type of treatment? We don't! I just now
activated a Corp card that we have had with Washington Mutual. Bet
they won't treat us this way. Maybe as the other poster
mentioned...You have the money problems, we DON'T!! |
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| Wendi Venable |
Illinois
wendivenable#aol.com
Complaint_against: First Equity PLatinum Card
Complaint: Well, I have to way there is some sick
comfort in the fact that I am not the only one that this pond scum
of a company got the best of. After reading the 100+ complaints that
sum up every experience I have had in the 6 weeks of being a First
Equity Card Member I realize that this is just a company that needs
to be exposed. I am sorry to say that a letter the the Attorney
Generals office is not enough, news coverage on national news is
what is needed here. With the rest of the scum out there getting
their 15 minutes of fame, I say we all write to our local FOX
affiliates to ! give these folks at First Equity the attention they
so deserve. I too opened a card with that fantastic low rate offer,
onky to get my first bill and see it doubled, then when I called to
talk to the less than professional (probably Mr. John Yardley's
girlfriend) representative, I was told...."It is what it is....watcha
gonna think ya gonna do 'bout it"...in that Harvard educated dialect
that the First Equity representatives have to have in order to get
hired! Then when I complained I also received the letter that my
account was shut down....or I should say lowered. I am going to
write the check to pay this off tomorrow and then send a letter to
every single tv affiliate I know (I am in the biz so this will be no
problem) and get a copy of my letter to them in hopes of getting
this exposed to the tv channels who are right now focsed on the poor
folks on Main Street and the asses that our tax dollars are bailing
out of Wall Street.....so they will love to get a hold of these 100+
complaints.....if any of you folks would like me to do the same,
forward me your letter and complaint and I will get that distributed
all over for you. My email is above, and I have nothing better to do
with my time right now than to spend every minute of it helping
allllllll of us out and getting to the rat at the bottom of this
crap smelling First Equity pile. |
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| Craig Vincent |
Stockton, CA
Complaint_against: First Equity Card
Complaint: I got my letter in the mail, sent it in and got approved
for a $3000 line of credit. Great. I used it for a couple of months,
paid it off every time I used it. I never let any charges sit on
there for more than a week or so. As soon as the charges were
showing online, I'd pay off the balance. Now all of a sudden,
they've cut my credit limit to $200. What can I possibly do with
$200? What a joke! |
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| Pissed off consumer |
| Complaint_against: John Yardley - First Equity
Complaint: I got a little chuckle while reading Mr.
Yardley's post. I received a letter from First Equity fraud
department with no contact name and no contact phone number. I sent
an email about the incompetency of First Equity's fraud department
and how their mistake is now costing me thousands of dollars and
have yet to receive a response. I'm sure all these people who write
in have very valid complaints, after all they are dealing with a
multimillion dollar company and we are just the common folk. When
the financial institutions go belly up because of their business
practices they are the first to ! cry foul and ask the government to
bail them out. |
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| glenn |
| Complaint_against: First Equity Card
Complaint: They are unable to calculate a payoff
balance. I arranged to payoff the balance and then closed the
account. However, there was an interest charge on the balance for
the period between the statement date and the payment date. Since
the account was closed the credit limit was zero, therefore the
interest charge exceed the credit limit so a $39 overlimit fee was
added. This led to a dispute, which resulted in a $39 late fee being
added to the balance. They will not provide a payoff balance making
it very difficult to close the account. This is just one of many
unhappy experiences, hopefully the last, with this compan! y. Stay
away from First Equity Card! |
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| Victim of Identity Theft |
wrightt@usd385.org
Complaint_against: First Equity and LHR, Inc.
Complaint: On November 8th, 2004, a Richard E.
Griswold committed identity theft and obtained two credit cards for
his business, The Griswold Group, from First Equity using my social
security number. At this time I was unaware of this crime. In June
of 2005, a letter came to my address from First Equity with checks
that apparently Richard E. Griswold ordered. The reason I made sure
to open up the letter is because it was addressed to T.
WrightGriswold which is not my name nor has it ever been. That was
the first I heard anything about this card. I called the company and
reported the account as fraud. The representative that I talked to
took down the information and when I asked if I would be liable for
the balance of $1330 I was told no. This representative never
informed me of my rights or sent me an affidavit or dispute form.
This is where the ball was dropped and by a company that should have
known better. I put an alert on my credit report for the entire
year. I then called and filed fraud charges with the police against
Richard E. Griswold. I asked the police what was going to be done
about this and they told me more than likely nothing because this
happens every single day! Great then why go to the trouble to even
file a report. For the next three years I never heard a word from
First Equity. I looked into refinancing my home and was told I had
very good credit and I also purchased a used car and received a 5%
interest rate because my credit was good. There was nothing
derogatory about my credit. On September 19, 2008, I came home to a
phone message from LHR, Inc. informing me that they were a
collection agency and that I had a debt that they were going to come
after. I tried calling their office but they were closed. I was sure
it was a mistake because I knew I had no outstanding debt. I had to
wait until Monday, September 22 to call them back. I talked to a
very nasty woman who told me I owed $8,600 to a First Equity. I told
her I reported that card as identity theft fraud and that it was
taken care of. Apparently not and now instead of $1330, it was over
$8,000. Nice of First Equity to keep me informed. This
representative of LHR told me that I was sent a letter sometime in
September explaining all of this. No, I never received a letter
because they never had my address until after I talked to them on
9/22/08 and since they were telling me that my name was T.
WrightGriswold, it would have been the first piece of mail I would
have opened had they sent it. I have never had to deal with a
collection agency and so once again I was not aware of my rights or
that I didn’t need to pay that amount especially until I had a
chance to find out all the information and try to resolve it. This
lady informed me that they would ruin my credit and that I had to
pay. I was in tears by this time because she was relentless,
threatening me and using undo pressure. I told her that I couldn’t
pay that amount and that is when she informed me that I had two
credit cards, which she named and told me that I had enough balance
on them to cover it. I could not believe she knew that information.
I honestly didn’t know I had a choice in this matter. She never once
offered me any kind of payment options. She just wanted it put onto
my credit card. On September 24th, I received my first
correspondence, addressed to T. WrightGriswold, from LHR telling me
that I was paid in full with LHR. On September 25th, I received a
second letter from LHR telling me again I was paid in full, but at
the top of the letter it said detach and return the top portion with
payment and the balance said $1330. So now I was being charged more!
I have spent every day on the phone since 9/22/08 with either a
representative from LHR, First Equity, Chase, the Credit Bureaus or
the police. Every time I call, I end up talking with a different
person and most times I couldn’t even get through to a human voice.
Every person has a different story to tell me. This has gone on for
almost a month now and I am getting absolutely no where because no
one in these companies seems to know what they are doing. I have
asked repeatedly for an affidavit from First Equity to get this
matter resolved and have yet to receive anything, and every time
I’ve asked I’ve been told a different day that correspondence has
been mailed out. I received copies of my credit report 6/05 and
again 9/08 and First Equity was not listed as a charge card for me
nor was there anything derogatory. One would think that if I was
delinquent on a charge card to the tune of $8,000 it would be
somewhere on the report. Every time I call First Equity I talk to a
different person and every person can see that I did indeed call in
June of 05 to report a fraudulent card, that that card was closed,
it was identity theft and that no paperwork was ever sent to me. I
called LHR four times and at the end of the fourth call I was told
that all my phone conversations had been taped. Now I’m glad it was
all recorded because now there is proof of what was told to me. LHR
told me that they purchased this card and that they would get all
the money and none of it was going to First Equity. At the end of
this last call to LHR I was also told that if I tried to get the
$7,353 taken back, they would hit me with a $10,000 charge against
my credit report! First Equity never told me that the card was sold
off and that they no longer have a vested interest, but I just
received a letter from them saying they are investigating the
matter. (Where were they three years ago)? Of course it was a form
letter meant to appease me with no contact name or number. I filed
complaints with the FTC on both First Equity and LHR for their
business practices. Nobody from First Equity or LHR, Inc. ever went
after Richard Griswold, even though it is his name and address all
over the statements. I sent an email to John Yardley, and letters by
certified mail to Clarke, CEO and Rosentover, VP. I feel their
little multimillion dollar company should be the one to take care of
all this since they started it all in the beginning. |
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| Liz |
florida
Complaint_against: FIRST EQUITY CREDIT CARD
Complaint: All of you are completely right. I wish I would have read
these complaints before I received their offer in the mail. Their
offer stated that I would get 0% APR on balance transfers and they
scammed me! I have never received that APR and I have called them
over and over and get no where. I have filed a complaint. All they
says is "I can lower you rate to 19%"...WHAT! I have great credit
and so does my business. I am scared to transfer to another card
that offer 0% because I do not want to get scammed again. SO DO NOT
USE THIS CREDIT CARD COMPANY!!!!!!!!!! |
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| Pissed Off Consumer |
Florida
rickfl561@yahoo.com
Complaint_against: FIRST EQUITY CREDIT CARD
Complaint: A few months back, this credit card company sent me blank
cash advance checks with a note encouraging me to use them, one of
which I used the NEXT DAY. I later found out that the cash advance
check bounced because First Equity reduced my credit limit ON THE
SAME DAY THEY SENT THE BLANK CHECKS - but without comminicating that
fact to me until days later (by mail). Aside from the mess the
bounced check caused with my regular bank where I deposited the
check, this credit card company has used this event to charge me a
default rate of interest, which has steadily increased ! since that
time. The rate is now 29.33%, which I can't believe is legal. They
have also reduced my credit limit further on multiple occassions,
which I believe were attempts to get me to go over the credit limit,
to generate fees and further increases in interest rates. I should
note that I have NEVER skipped a payment and NEVER made a late
payment on this account, or any other account I have. When I called
their customer service department to complain about this turn of
events, I was shocked to basically here, "Too Bad!" I am in the
process of closing this awful account, but this company should
clearly NOT being doing business. They are scam artists, as far as I
am concerned, including their employee with a post here. I had no
idea there were so many other people with problems with this bank,
until I found this site. I sure hope none of my tax dollars are used
to bail these scum bags out. Clearly they should be among the
banking casualties. |
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| Jim |
Calf
Complaint_against: First Equity Caard Corp
Complaint: I am an owner of small busines that is named after
myself. I've never heard of this company until I recieved a letter
from them stating that my acocunt (acount number xxxx) has ben
closed due serveral reasons that hey listed, and was based on a
credit report from Experian. Since I was not aware of any account
with this business, I called the phone number listed on the letter
(866-756-7870) and spoke with a customer service rep. I (stupidly)
provided my name, address, phone number and ssn which she supposedly
used to look up my account. She located an account whose information
matched the information I provided except for the ssn, and she
advised that I would need to fax a copy of my drivers license and
social security card before she coupld provide any further
information. Being leary, I asked to be gtransferred to the fraud
department. I was transerred to a "Kelsey" in the fraud department
and recieved the same treatment. Being very leary at this point I
declined. I certainly had the feeling at this point that they were
engaging in some type of identy theft. Doing an on-line search I
found this site and read through the posts. I feel stupid for
providing them with so much detailed information. Like others here,
I have filed a complaint with the FTC. |
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| Richard Swanson |
Derry, NH 03038
rick@!rasgraphics.org
Complaint_against: First Equity Card Corp
Complaint: My story is the same as the preceding complaints: I had a
credit score of 720, no late payments, low debt relative to my
income, etc. First Equity sent me a solicitation touting a business
credit line as high as $100,000 and a long-term APR as low as 0%.
What I got was a $4,500 dollar credit line with 0%APR on purchases
that were paid within 30 days.. and 12%APR there after. After a
couple of months of having this card My Credit line was decreased to
$3,000 and The interest and an interest rate and fees that would
bankrupt a business owner [33% APR]. When I asked wha! t it would
take to qualify for the terms advertised, I was given the runaround
for months and months on end. In the meantime, these jerks started
charging an inactivity fee because I hadn't used my account. I've
never seen that before. I am now trying to keep my head above water
with them making minimum payments to not go over limit with all
there fees...I need to try and close my account. I am trying to work
with a credit card consolidation they are aware of what First Equity
does. This company should be shut down by the authorities! It's
nothing but a scam to take advantage of suckers and desperate people |
|
| 121 |
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| Jo |
| Complaint_against: First Equity Card
Complaint: TERRIBLE COMPANY! Scam artists from HELL.
Do not even THINK of getting this card. I wanted a card for my small
business and this looked sooo good I should have known it was a
scam. My minimum payment went from $29 to $176 in ONE MONTH!!!!!!!!
Pure insanity. I sent them $100 because that's all I could afford.
Now I'm getting calls every day asking about my "missed" payment. I
am sure they are going to tack on even more "late" fees and
overlimit fees and god knows what else. I am going to report them to
every consumer agency I can find, and post EVERYWHERE about the scam
this company is. They should be shut down and jaile! d. |
|
| 122 |
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| Allan |
Graham, nc
Complaint_against: First Equity Card Services
Complaint: I had my card from First Equity for
several years and use it only for business reason. I pay my bills on
line and last month paid my bill for FECS on line on the due date.
Something was wrong with my bank server and the payment wasn't
applied till the next day. I received my bill from First Eq this
month and the interest rate was 33%. I called and they said because
it was late they had the right to raise the interest rate. Well they
may have the right but that doesn't mean they should!! It already
was at 22%.What a bunch of crooks. STAY AWAY FROM THIS CARD!!!!!!! I
don't know if I will ever send the! m another penny. *******STAY
AWAY FROM THIS CARD******* |
|
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| Susan Pulda |
Pecos, TX 79772
sptaxes@yahoo.com
Complaint_against: First EquityComplaint:
Like many of the other people on this site, I thought it would be a
good idea to get a line of credit for my business. BAD IDEA! I have
had my first equity credit card for the past year and although I
have never made one late payment they continue to increase my
interest by 2% each and every month. When it reached 34.9% my
husband contacted them and after about a half hour on the phone
managed to get them to decrease the interest to a whopping 24%. This
is still unacceptable. It will take me over 40 years to pay this
card off. I'm in the process of finding another company that I c! an
transfer the balance to. First Equity really knows how to treat
their GOOD customers, by raising the interest rates so we can cover
the cost of the BAD customers. Can the government bail ME out??
Didn't think so. |
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| Anndir |
Boston MA
alwog1@aol.com
Complaint_against: FIRST EQUITY and ASPIRE
Complaint: STAY FAR AWAY from First "Equity"
(definitely a joke name for what they actually are). ASPIRE is
closing, so that eliminates one-half of this TERRIBLE PAIR! I closed
both - they are the WORST financial companies (after DELL FINANCIAL)
that I have EVER, EVER dealt with! |
|
| 125 |
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| sandra locascio |
libertyville il 60048
sandralocascio@comcast.net
Complaint_against: First Equity Card
Complaint: DON'T GET THIS CARD! THEY ARE HORRIBLE! THEY RAISE RATES
AND HAVE HORRIBLE CUSTOMER SERVICE! IMPOSSIBLE TO REACH! I HOPE THEY
GO OUT OF BUSINESS! DO NOT APPLY FOR THIS CARD! |
|
| 126 |
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| Patrick |
Cliffside Park, NJ
parplaywright@yahoo.com
Complaint_against: First Equity Card Corp
Complaint: This credit card company is the worst I have ever dealth
with. Having a small non-profit, the offer that came to me a few
years ago sounded too good to be true - and in the longrun it has
been a nightmare. Several months ago, I went to make a small
purchase and was told the credit card could not support the purchase
even tho I knew I had plenty on the card. When I phoned they told me
there was a hold on the card and within a month I received notice
that they had lowered my credit line to just above what I already
owed without explanation. Then, as each statement came! in I began
to notice strange things - my cash advance interest jumping from
23.33 to 30.99 without notice. When I called to complain they said
they have the right to do anything they want but would lower my rate
back to 23.33. My latest bill not only shows 24.20 but they moved a
very small portion of my balance to purchases at 20.20 (maybe to
offset it back to 23.33 but now i have amounts in two categories
when I have NEVER made a purchase). In addition the statement says
they did not receive my payment and yet the activity at the bottom
shows they got it in advance of the due date. To top it all off they
charged me a late fee even tho they acknowledge the payment one line
above. When I called to deal with the late fee they told me they
would "wave" it this one time. How on earth can you "wave" something
that should not have been posted in the first place? When I told
them I had heard they were under investigation and wanted to speak
to a supervisor they told me the! y were all busy and I could
request a call-back or continue to hold. I said I would hold but
after an hour of background music I hung up. AVOID THEM AT ALL COSTS
AND REPORT THEM! |
|
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| sam |
Tampa
Complaint_against: First Equity Credit Card
Complaint: NONE!! I use this card fro my business and have had no
problems. The rate is not the best, but we are a new business and
still building our business credit. If you have a score of 800 you
can get a black American Express if that is the level of concierge
service you need. I this is your last shot at a card or don't
deserve a credit card, you prob shouldn't be complaining.
|
|
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| Darren Rizzo |
Newport Beach CA
Complaint_against: First EquityComplaint:
This company is the worst, stay away from them like you would avoid
walking into a fire. I have had the displeasure of having First
Equity for the last 5 years. Everything was fine for the first 3
years then my interest rates started to climb. I went from 9.99% to
13.99% and up to 18.99% and I made all my payments on time. I
complained and nothing was done about it. False promises were made
about lowering the interest rate and nothing happened. I had to make
7 phone calls to finally get the rate back to 9.99% where it only
stayed for 3 months and then started climbing again because of my
accoun! t status. I guess you also get penalized for making payments
on time. My last few checks I have sent in have been mysteriously
lost. So, now my interest rate is at 30% and climbing and I've been
hit with $39 late fees and overbalance charges. I had to call a few
of my other credit card companies because of financial reasons and
they all worked with me on payments except First Equity. I have
AMEX, MC, and 2 other Visa cards and I have to admit that they
helped me out except First Equity. They had been calling my work and
harassing me until I told them that is against the law and they
claimed they were within their right to harass me at work and would
call whenever they pleased. Once I mentioned my lawyer and a lawsuit
the phone calls to my work stopped but not to my home. They had been
calling me 3-4 times a day at my home number. Bottom line, these
complaints are real about this company! Because of First Equity now
my credit is in bad shape and I can't even get another card to
transfer the balance so I am stuck paying these thieves until I can
get my credit back in decent shape. I have had no problems with my
other credit cards and am back on track now paying them. First
Equity is the only one whom I am having problems with. I would throw
a party if this rip off company went out of business. My advice to
all of you considering getting a card from this company, run the
other way as if you were avoiding the plague. Their customer service
has been very rude and non caring throughout this whole ordeal.
Talking with supervisors has done no good either. For those of you
who read this and don't go with First Equity consider yourselfs
blessed that you were warned. I wish that I had done some research
before going with this loser company. |
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| Mike |
Seattle, WA
Complaint_against: First Equity Corp Card
Complaint: Not one complaint about this company. I stumbled across
this site during a search and had to read to make sure one of my
cards wasn't with the wrong company. After reading these complaints
it is obvious that a lot of people just sign up for cards and do not
read the fine print, and then get upset when something
changes\happens. I have been a customer of this company in good
standing for the last 24 months. In that time I have had 2 late fees
applied to payments that did not clear from my bill payer service at
BOA in enough time ( a BOA problem by the way). In both instances, I
was able to get a hold of a rep in a matter of minutes and have both
late fees reversed. As stated by others, if you don't have the
ratings to get top level cards with AMEX, then this is a great
option. The only advice I can provide is that people should pay a
little more attention to what they are signing up for, and maybe
monitor your accounts, instead of letting the business do it for
you. What a concept!! |
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| Donna |
Angleton, Tx 77515
manyponies2000@yahool.com
Complaint_against: First EquityComplaint:
My business was directly hit by Hurricane Ike in September. FEMA
said by law your creditors have to agree to defer at least on
month's payment including credit cards, mortgages, car payments
etc...... So I called all my credit card companies. All of them
agreed over the phone to defer a month's payment. Only First Equity
refused to defer my payment unless I put my request in writing. So I
sent my request by mail and asked for help in deferring payment
during this crisis. I received a letter confirming cooperation from
First Equity on November 11th. My last payment was on October 28 for
$17.00. My November statement had a due date of Dec. 1 for the
amount of $56.00. ) I did not pay this as I was told in the letter
that I did not need to pay it at this time. I then received a letter
Dated Dec. 15 from EXPERIAN stating I had been reported by First
Equity as being delinquent on my account. I called Customer Service
and spoke with Crystal at ext. 1052251. She said she would forward
this to a supervisor and someone would contact me in 1 - 2 days. I
was never contacted. I received another statement with a due date of
Dec. 25th. This statement had a message in the Account Messages box
stating “Your account is currently enrolled in our Disaster Relief
Program. No payment is currently due. Your normal payment schedule
will resume with your next statement. You can still make a payment
at your option, but you will not be penalized if none is made. One
line down from this message is the following: “Have we missed your
payment? As of your statement date we have not received your last
payment. Please make the payment shown on this statement
immediately. These two statements directly contradict each other and
make no sense. It indicates to me that someone is not handling my
account properly and my requests for assistance and correction are
being ignored. I also was charged a late fee of $39.00 after I was
just told this would not happen. To make matters worse, now they
reported me to Experian, I have had one of my major business credit
cards closed by the credit card company due to this incorrect report
from Experian and one of my company gas cards reduced my credit
limit to $180 due to the Experian report. All of the business owners
here in the affected area are having to use our credit cards while
we wait for the disaster assistance loans and grants from FEMA and
the Small Business Administration. I have also had a gas card
(Chevron - See attachment D) lower my credit limit due to this error
by First Equity. This is affecting my business in a major way. I do
not want to have to bring suit against First Equity to get matters
resolved, but I may have no choice if I do not get someone to assist
me immediately with this matter. I was contacted by phone today from
a bill collector asking for payment of $56.00 for your card. I went
ahead and used my disaster unemployment debit card, of which I only
receive $142 per week, to pay this amount and get the bill
collectors off my back. I feel this is totally unfair to me, as I
cannot afford to pay it, but am backed against a wall because of the
error somewhere along the lines by First Equity. My credit is being
ruined by this and each time I call customer service I’m told they
cannot help me and they will forward it to a supervisor, or
corporate headquarters and that someone will contact me. But this
doesn’t happen. I wait for a call that never comes. Being in a
devastating hurricane is stressful enough without having to try to
spend hours on the phone, faxing documents etc.... I have, in good
faith, done exactly what I was instructed to do as being enrolled in
the Disaster Relief Program. Now my credit is being quickly ruined
and it is snowballing into a greater disaster than the hurricane
itself. Why don't we ALL get together on this and file a class
action lawsuit???? |
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| J. Herndon |
Jacksonville, FL 32207
Complaint_against: First Equity Card
Complaint: We have have had a First Equity Business Card for several
years with no problems. We pay our bill off in full each month and
on time. Our problem came when our bank SunTrust bill pay department
sent in error two checks, same check number, same amount in
Sept.'08. When we received our bank statement in October, 2008 and
discovered the banks error we immediately contacted our bank. We
then received our First Equity statement which had both checks
credited on 9/16/08 and then an entry on 9/24/08, "posting error"
and reversed one of the credits. Our bank called First Equity and
they requeste! d copies of both checks which were faxed and mailed
to First Equity Dispute Resolution Department. In Nov.'08 we
received a check from First Equity for the double payment. End of
story. NOT...Our next statement from First Equity had a debit for
the overpayment with a notation "credit refund". Now we have an
incorrect balance. We have called First Equity and faxed every piece
of information they have requested and sent hard copies to Dispute
Resolution. Our bank again called First Equity and was told that
they sent us a check on 09/24/08! We NEVER received that check and
our bank asked them to issue a stop payment and to research if the
first check had been cashed and by whom. (Why they would have sent
an additional refund check in late October if they had send one in
Sept. is another issue). Then we started getting the late payment
calls at work and home. We called customer service numerous times,
recapping the events again from Sept. to no avail. Again we sent
anoth! er certified letter to First Equity Dispute Resolution
Department. The latest letter from Dispute Resolution is that they
sent a credit on 09/24/08 through the Federal Reserve to our bank.
Both our bank and I sent yet another certified letter on 12/30/08
asking First Equity to provide us with the "credit letter number"
they sent through the Federal Reserve. They signed for our last
letter on 01/06/09. We have not received a response. We continue to
receive collection calls both at work and home. Our current
statement from First Equity has an incorrect balance we do not
owe,late fees and interest. When I read the posts on this site, I
saw the letter from Mr. John Yardly from First Equity. I was
encouraged that he left his phone number and I called him two times,
I never got a call back. Although my situation is different than
those posted there is one common thread. FIRST EQUITY FAILS TO
COMMUNICATE WITH IT'S CUSTOMERS, THEIR CUSTOMER SERVICE PROVIDES NO
SERVICE AND CALLING FIRST EQUITY IS LIKE CALLING "THE BLACK HOLE",
DIFFERENT PEOPLE! , DIFFERENT STORY. We have now turned this matter
over to our attorneys for them to handle. My advise, DO NOT GET A
FIRST EQUITY CARD! One day you will be sorry, very sorry!!!! |
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| 132 |
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| MW |
Cleveland Ohio 44122
blsd100p@yahoo.com
Complaint_against: First Equity Credit Card
Complaint: Sames as the above --got the card with a 1400 credit
limit at a high rate-- around 22% ---paid the card maybe six times
then paid in full --never late ---saw that they later raise my rate
to 30.99%--and dropped my limit to $200 after I paid the card off.
Spoke with a rep and asked why my rate was 30.99% --they claim it
had to do with my other account which are all in good standing and
most have no balance. Claimed it was also due to my history with
them. Was never late on my account ever with them. After paying the
card off and getting a refund for the credit balance left ov! er I
received another letter stating they closed my account due to an
equifax report. Mind you according to myfico.com I have a good
credit score. This was like one of the most most bizarre things I
have ever really seen for a credit card company. Nothing made sense.
Anyway I would not recommend this company--just fyi |
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| kevin kennedy |
waynesboro,pa 17268
kevinkennedy29@yahoo.com
Complaint_against: first equity card
Complaint: hello folks let me let you in on a scam of first equity
card. i recently had charges on my credit card that were not mine
that totaled around $1200.00. i did a dispute on line, wrote a
letter nothing happened. i finally called and talked to a customer
service rep. they said they received the letter in the mail but
didn't have time or didn't want to start the investigation. so the
lady on the phone took the info took all the charges off and
everything was fine. after 4 months. yes 4 months i get a phone call
from a rep and they asked me if i filed a police report. if you ever
lost a card you have to report the loss in your areas police
station. we'll if you lose the card you would not know where the
card was lost. so after 4 months a police station really can't do
much if it's not lost in there jurisdiction. and after so long they
can't do anything if a time frame has passed. so states can't even
investigate out of state charges. so i explained to the rep what the
officer told me and the! y said they need this and i said they can't
do it because it would be a false report if the card was not lost in
there area. so this company calls me everyday 2 to 3 times daily.
they have called me a lier they have accused me that the sales
drafts are my signature but have not sent me proof of the sales
draft. by the way i have been told for fraud cases you are only
responsible for a max fee of $50.00 of the total amount from the ftc.
good luck to all that have this card. i hope you all cancel your
cards. and i hope this stupid ass company goes under like the other
big banks that fraud everyone. |
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| 134 |
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| Marshasue |
Saratoga, NY 12866
stonecroftmh@yahoo.com
Complaint_against: First Equity Card
Complaint: By NO MEANS is this a small company. They are a 4 BILLION
dollars/year company. They are owned by Synovus Financial Corp
(NYSE: SNV). They charge usurious interest rates and have a billing
cycle system that is guaranteed to get them a $39/late fee more
often than not. DO NOT USE THIS COMPANY> |
|
| 135 |
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| Sandra Smyth |
Louisville, Ky 40207
Complaint_against: FIRST EQUITY CREDIT CARD
Complaint: THE VERY WORST COMPANY IN UNITED STATES. BEWARE!!! THANK
YOU FOR POSTING THESE COMPLAINTS AGAINST THEM. I CAN ONLY SAY WHAT
HAS BEEN REPEATED ABOVE BY SO MANY PEOPLE. I DO THINK THAT THE
GOVERNMENT NEEDS TO INTERCEDE AND STOP THESE CRIMINALS. I THINK
THESE COMPLAINTS SHOULD BE SENT TO CONGRESS, IN THE HOPES THIS
COMPANY WILL PUBLICLY BE EXPOSED TO THE MEDIA. IS THERE ANYONE
STARTING A CLASS ACTION SUIT AGAINST THEM? IF NOT, THERE NEEDS TO BE
--- FRAUD USED TO BE ILLEGAL IN THIS COUNTRY. COME ON...THEY NEED TO
BE SHUT DOWN. |
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| 136 |
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| Melissa Coven |
Sherwood, AR 72120
dadnmom@aristotle.net
Complaint_against: First Equity Credit Card Co.
Complaint: I wish to dispute the letter at the
beginning of this post from First Equity. I have been trying for 2
weeks to speak to a person to tell them that the 4 phones calls a
day they are making to my house is a wrong number. I don't have a
First Equity card nor have I ever had one. I don't own a small
business, I simply have a phone number that is one digit off a card
member's number. You cannot contact anyone at the Customer Care
number because you have to put in your 16 digit card number to get
past the recording. I don't have a number because I don't have a!
card. After finding another site full of complaints about this
company, I finally found a number where a live person answered.
Supposedly, my number will be eliminated within 24 hours. No
apologies or anything. I tried contacting Customer Care by email,
twice explaining that I can't call the number they kept telling me
to call because I don't have an account number and twice they have
replied telling me to call that number. A company that does business
like this is not reliable. They make a big mistake, harass me 4
times a day by recording and don't give a valid number so I can
speak to someone and correct their mistake. |
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| 137 |
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| Reputable Businesswoman |
NC
Complaint_against: Unreputable disgrace of a Co. First Equity
Complaint: Unless you are desperate and enjoy giving
your hard earned money away to some schmuck slimey lending
cockroach, you would have much more sense to do business with Vinnie
Bambino or any other loan shark you may know ....their rates are
much better!!!! As they say....."as ye sow, so shall ye reap,"
here's at you, Timothy Clarke,CEO Fist Equity Card ....beware of
your conscience if you have one |
|
| 138 |
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| Gen |
48503
Complaint_against: First Equity Card
Complaint: First Equity solicited my new business to open a credit
card with them short after the business started. I opened the card
knowing I may have ocassional use for a company credit card. I used
it sparingly and paid it off short after each use. During the last
six months I had little use for the line of credit as my business
had slowed. Today I received a letter stating that the account has
been closed due to inactivity. There was no prior communication or
notice that the account would be closed or could be closed due to
inactivity. During this time of lack of trust in finanical
institutuions, they have just re-enforced this. They aren't willing
to keep good customers that pay their debt. I would avoid this
company at all costs for newly established businesses because they
won't be there when you need them. DON'T USE THIS COMPANY |
|
| 139 |
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| bridget |
sanford, fl
Complaint_against: First Equity Credit Card
Complaint: AHHHHHHHHHHHHHHH-I am SO relieved I'm not the only one
out there with the same problems. These people are rude scammers!! I
paid my credit card off every month before the due date and this
month I forgot and paid it on the date it was due ONE TIME and the
CANCELLED it without explanation or even telling me. When I talked
to someone from "customer service" I was told it was their right to
do whatever they wanted. I tried to get the corporate number and was
told OVER and OVER again that they could give me a fax number or
address but would not give out the corporate number. Has anyone
contacted VISA about this company?? |
|
| 140 |
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| |
Anonymous
california |
| Complaint_against: First Equity Card
Complaint: ATTN: ***Re: $2,000+ FRAUDULENT Check
PAYMENT to a First Equity Credit Card account. LOOKING for a First
Equity Card Small Business owner who had $2,000+ posted to their
account in December 2008 via a STOLEN "Balance Transfer Check" FROM
ANOTHER FINANCIAL INSTITUTION. Supposedly that small business's
First Equity credit card account to which the stolen check was
posted has been put "on hold". If you read this post, please
indicate by a post - we will check this site regularly to see if you
reply. Someone is stealing a lot of money from HARD-WORKING CITIZENS
via some complicated scheme involving this very "unusual" credit
card company. The scheme needs to be stopped. We are all being hurt.
Everyone, BE VERY CAREFUL and VIGILANT if you any ANY TYPE of have a
relationship with First Equity Credit Card. There is something VERY
bad going on here. |
|
| 141 |
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| |
| very satisfied customer |
| Complaint_against: customers complaining about
First Equity and other credit card companies
Complaint: Seriously! i just read one of the
complaints that said, " read the fine print first.." Well no shit
sherlock! if you are not satisfyed with what they have to offer or
not offer- you dont have to acept the card. it's unfortunate that
you people do not have enough comon sense to actualy read all of the
terms and conditions BEFORE accepting the credit card and then run
out and charge it up, not pay on time....only to then complian about
late fees and other fees you should have read about first. i can not
beleive you people have the adacity t! o turn around and complain.
So take the morons advise and read the fine print first. i am very
satisfyed with first equity and other credit cards i have. Ofcourse,
i read the fine print and knew what to expect. how you people have
managed to stay alive this long will never ceese to amaze me.
|
|
| 142 |
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| |
| Business Owner |
Jacksonville, FL 32246
Complaint_against: First EquityComplaint:
UPDATE: I called First Equity to inquire WHY I was being charged
31.99% when I have never missed or been late on a payment. Here is
how the conversation went. Me: Why is my rate 31.99 percent when
I've never been late on a payment and have excellent credit? 1st Eq
"It's a variable rate and can go up or down." Me: I understand what
variable means, why is the rate so high when I've done nothing
wrong? 1st Eq "You don't have to necessarily do anything wrong to
have your rate changed. I can offer you a rate of 30.99 percent
today." Me: Is this a joke? I need to speak with your manager. The
manager couldn't (wouldn't) do anything. She recommended that I fax
a letter requesting an official review of my account. This company
is horrible. I beg you, please stay away. |
|
| 143 |
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| |
| Business Owner |
Jacksonville, FL 32246
Complaint_against: First EquityComplaint:
ABSOLUTE GARBAGE!!! We have a $10,000 credit line with them and have
never missed a payment. They are charging us 31.99%!!!! The moron in
customer service tells me they have no other offers at this time.
DONT EVER GET A FIRST EQUITY CARD FOR YOUR BUSINESS. TELL EVERYONE
YOU KNOW TO AVOID THIS COMPANY!! The mafia lends money at lower
rates. Spread the word, this company deserves to be bankrupt.
|
|
| 144 |
 |
| |
| Gary |
Rochester, NY
gary@rochester.rr.com.com
Complaint_against: First EquityComplaint:
Improper investigation of fraudulent credit card transactions. This
company does not fully investigate fraud. Instead, if they can get
the merchant to say they were sure you made the charge they close
out the investigation and re-post the charges to your account.
Beware, this company offers you no protection against fraud.
Instead, they support poor business transactions and turn against
their customers. STAY AWAY FROM THIS BAD SEED IF YOU KNOW WHAT'S
GOOD FOR YOU. |
|
| 245 |
 |
| |
| Tom Skare |
tom@woodcitylaw.com
Complaint_against: First EquityComplaint: I
have a Platinum Business Card with First Equity and have had it for
over four years. I pay more than the minimum amount monthly on the
balance. In February, my payment was a few days late. When I next
went to use the card it was declined. I had been given no prior
notice of this action. In contacting First Equity customer service,
the person I spoke with gave no definite explanation as to the
reason the card was not being honored. I asked to speak with a
supervisor and, after waiting over 10 minutes, spoke with an
individual who offered to give me a fax number or email address in
order to fil! e a complaint. She said there was no direct number
that she could give me in order to complain or to obtain better
information regarding First Equity's action. She advised me that I
would get a letter in 7 to 10 days explaining the reasons for the
hold on the card. (It never came) I began searching for information
as to who to contact in this matter in order to straighten this out,
and found this site. I saw the post of John Yardley of First Equity,
so I decided to contact him. I called and left a message on his
voice mail (215-631-1201, ext 102 - the phone number lists to Todd
Rosentover, vice president of First Equity, and is listed to 1120
Welsh Road, Ste 200, North Wales, PA)) but he never responded to me.
I found Yardley's email address and left another message for him(jy@firstequitycard.com),
again there was no response. The only thing I am sure of is that a
long time customer who has paid in excess of the minimum payment,
who was late with a payment a few day! s in February, had his
business card credit limit lowered to the amoun t owed (and the
interest rate increased), without any explanation or response from
First Equity. If Mr. Yardley is as concerned about the image of
First Equity as he claims in his post on this site, he doesn't
exhibit that concern in dealing with or responding to customers of
his company. I have already been approved for a different business
card, which will be the one I use from this point forward. |
|
| 246 |
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| |
| N Warnar |
Sarasota FL 34238
nwarnar@hotmail.com
Complaint_against: First EquityComplaint:
Shred any offer! I had the offer, accepted, wrote one of their
convenience checks for a nice low rate at first, and the letter said
it would change to a "low interest rate" after the introductory
rate. Well, 21.99% is not low. I paid it off with a balance transfer
check from another company (Chase) that offered a 3.99% fixed rate.
This was 6 months ago. Funny, a letter came today that they closed
my account due to inactivity. RIP OFF, RUN FAST from First Equity. |
|
| 247 |
 |
| |
| MARK CLEMONS |
PALM SPRINGS
MAVERICKWEAR@AOL.COM
Complaint_against: FIRST EQUITYComplaint: I
WILL MAKE IT SHORT.EVERY THING CROOKED THEY CAN DO THEY WILL DO.
STAY AWAY. BIG MISTAKE TO GET THIS CARD. |
|
| 248 |
 |
| |
| sarah |
| Complaint_against: First Equity Card Corp
Complaint: Warning- company is a scam. I am
contacting the AG in Georgia, the US DOJ, and my AG in Minnesota
where I live. The actual payment dates notified are wrong, they will
charge you a late fee if you don't pay 2 days ahead of time by 11:00
AM. They then raised my interest rate to 33.99% and then because of
the fees I was over my reduced $5,000 limit. I accrued $228.00 in
fees!! Not even interest. My payment on a balance of $5,228 was $900
a month! Paid them off in full and have gotten bills still for 6
months following for "interest". |
|
| 249 |
 |
| |
| robert |
Terrell, NC 28682
robertkalinoski366@homail.com
Complaint_against: FIRST EQUITY BUSINESS CARD
Complaint: WHAT A SCAM! I started out with a 12.9
rate was late because of the cycle change and my rate went to 34%. I
ask for my old rate and they said they could not do it. I told them
to cancel my card. |
|
| 250 |
 |
| |
| Ticked Off Customer |
Philadelphia, PA
Complaint_against: First Equity Card Corp
Complaint: First of all they offered me 2 choices when I got their
offer. Choice 1 a regular card with no annual fee but with a higher
interest rate. Choice 2 a card with an annual fee but a low interest
rate. I chose choice 2 for the low interest rate, paid the 39 dollar
annual fee and a few months after I had the card they jacked up my
interest anyway to a high rate over 20 percent. Then today I
received a letter saying they closed my account for inactivity. I'VE
NEVER BEEN LATE AND ALWAYS PAID THE BALANCE IN FULL DONT GET THIS
CARD, THEY LIE TO GET YOU SIGNED UP, THEN WILL WRECK YOUR CREDIT
SCORE BY CLOSING YOUR ACCOUNT IF YOU DONT USE THE CARD OFTEN!!! |
|
| 251 |
 |
| |
| JLG Sports Enterprises |
earlham, iowa 50072
Complaint_against: First Equity
Complaint: We would agree with all others about
this company. They recently lowered our line of credit with no
notification. We had auto payments set up on this card and those
begin to be declined. We have an excellent pay history with this
company and all others yet the won't even discuss the reasons why
our limit was lowered. Once are balance is paid in full we will
cancell our account. I would suggest Capitol One or Citi Bank both
of those are willing to work with small businesses unlike First
Equity... |
|
| 252 |
 |
| |
| Anonymous |
| Complaint_against: First Equity Card Corp
Complaint: This company sent an "invitation" in my
company name which my father, who shares my name, for a credit card.
So "Dad" fills it out with his DBO and his social and gets the card.
Now, he has nothing to do with my business. now he defaults and the
LHR has bought the debt and is trying to hang it me which of course
I am not responsible. Now, my business is a legal corp which means
(1) they didn't verify that dear old dad was in the clear to this
and (2) they can't actually report this against my business since it
wasn't actually taken against my business. The "telephone" number
will only put you into an automated system.! Since I don't even know
what the account number is, I can't speak to them. So run and hide -
they are crooks at worst and bad business people at best |
|
| 253 |
 |
| |
| ETHELYN P KIRKLAND |
WACO, TX 76706
phaye@phaytax.com
Complaint_against: FIRST EQUITY CARD CORP
Complaint: I PAID FIRST EQUITY OFF IN FEBRUARY $1620.00. AFTER I
PAID THEM OFF, FIRST EQUITY TURNED AROUND AND CLOSED MY ACCOUNT. MY
ACCOUNT WAS IN GOOD STANDING AND THERE WERE NO PROBLEMS WITH ME
PAYING THE ACCOUNT EVERY MONTH. I OWN A TAX BUSINESS AND PAY A LOT
OF MY BILLS OFF AT THAT TIME OF YEAR. CASE IN POINT I PAID OFF MY
CAR AFTER ONLY 11 MONTHS FOR $28.000. THERE WAS NO REASON FOR THEM
RO DO THIS. |
|
| 254 |
 |
| |
| PB |
| Complaint_against: First Equity Card
Complaint: I think this company clearly has one
agenda, use every trick in the book to rip off their customers. (all
shown in previous posts) They have clearly read maybe even wrote the
book on preditory lending, manipulative business practice, elusive
identity, apathetic non existent customer service designed to trip
you up so they can charge more fees and hike rates, although they
will do it anyway even if your payment record is perfect. Also it is
clear to me that their screening process and record keeping is so
lax they invite fraud. In our case they didn't even have the ss
right before they issued the line of credit. How care! ful are they?
In my opinion,they are blatant thieves charging loan shark rates
seeking out and preying on the the dreams and eager ambitions of
those who are gutsy enough to try to start their own businesses,
thereby winding up and administering a stinging slap in the face to
the American dream. With all of the bad reports I have one
question...why is this unethical company with it's phantom
leadership, still being allowed to do business...how can it be
stopped? |
|
| 255 |
 |
| |
| Charles |
High Point, NC
Complaint_against: First Equity Card
Complaint: I own a small business that has been open for two years
and have a credit card account with First Equity. Initially, I had a
very good interest rate and and have always paid my bills on time.
My credit is excellent. On last month's bill, they jacked my
interest rate up to 23.70% for no apparent reason. This is just
another example of the greed and "piling on" seen throughout the
banking industry in recent months, and as a business owner, that
interest rate is not beneficial to my business. I will be
transferring the card balance elsewhere and closing this account
immediately. If this is how a credit ca! rd company treats good
customers, perhaps they should just go away, as they are helping
nobody but themselves. If I raised the prices in my store like this,
I would be out of business in no time. |
|
| 356 |
 |
| |
| AL - Business owner |
Oxford. MS 38655
Complaint_against: FraudComplaint: We have
a VISA business card from First Equity. First Equity is the worst
bank we ever dealt with. Do what I did. If you have an acount with
them, close your account immediately. They wait till you carry a
balance and increase your interest rate for no reason. Do not do any
business with them. We have a successful business and we can pay the
balance within 2-3 months. If everyone close his account, they will
soon go out of business. I do not understand why the USA government
is doing nothing to stop such unethical tactics from credit card
companies. |
|
| 357 |
 |
| |
| JBR |
Owensboro, KY 42301
aw1044@aol.com
Complaint_against: First EquityComplaint:
Offered my business a $30,000 credit line. Used it for two years.
Had a $0 balance and went to make a draw and the check was returned
"Account Closed." I called and was told that my balance was reduced
to $7,500 because a First Equity supervisor "reviewed your account
and felt the limit was excessive." After 2 years? Save yourself the
headache and use a large, name brand credit company. |
|
| 358 |
 |
| |
| Liz K |
centennial, co 80122
Complaint_against: First Equity Card
Complaint: They started calling about 3 weeks ago. They called every
other day or so. As I noticed that they were calling more and more
frequently, I decided to answer the call. They are asking for
someone who is not at this phone number or at this address. They are
now calling 3 - 4 times a day and getting VERY aggressive when I
explain to them that I have no clue who they are asking about. I've
left a message at the phone number that is on our caller id but
haven't gotten a response from them. I will be reporting them to the
Colorado Trade Commission. |
|
| 359 |
 |
| |
| Yet Another Dissatisfied Customer |
Noblesville, IN 46060
caesar1951@hotmail.com
Complaint_against: FIRST EQUITY CARD CORPORATION
Complaint: We have been trying to get our balance
down on this card for two years. After paying over a $1,000 last
year (2008) our balance went from $3,400 to $3,700. We quit paying
because we were just maintaining a salary for someone at First
Equity. So then we got the six to ten calls a day. Even after
talking with these collectors, we would get another call or two or
three in the same day. Most of the time there would be no one on the
line. If there was, they would say 'Oh, my mistake'. They
continually break federal law. So we went on some ki! nd of hardship
plan that paid $34 a month at 9% interest. Well if your one day late
they stab you with a $39 late fee so then your just paying more in
fees than on your principal. We quit paying that the day they
refused to waive a late fee because we were one day late. Now we
have received an offer from First Equity called "Match Payment
Program". Your supposed to believe that if you pay 50% of the
amount, First Equity would match the amount you paid and thus payoff
the balance of your account. Pretty good deal right? Wrong! We have
attempted to get someone to send us a piece of paper that says they
agree to their own program but no one will. They refuse to give a
paper that they put their signature on so I think this is some kind
of gimmick to get you to send in a large lump sum and then 30 days
later, they will be back at your door asking for the balance and
everyone at First Equity will be saying; 'What program"? Oh and if
you ask to talk with a customer rep's boss, the! y just switch you
to another customer service person. No one at First Equity has a
last name or a phone number so that you can call them back. This is
the most crooked outfit I have ever seen. And as far as Yardley's
letter, don't believe a word of it. In my opinion, he is as big a
lair as anyone I have talked to at First Equity. |
|
| 360 |
 |
| |
| NJ |
| Complaint_against First Equity
Complaint This is the fleecing of America. Like Bill
Maher has recently noted: it's really disgusting and sad how some of
us have chosen to treat each other. I guess I should feel lucky i'm
at "just" 26.7 / 30.7 apr. I noticed today that because of the way
they apply my payments (ENTIRE payment to lower apr first; so that
the amount at 30.7 actually increases every cycle), the overall
amount of interest i'm charged actually increased between the last
two cycles -- and this was not a minimum payment. |
|
| 361 |
 |
| |
| Ken |
Leavenworth, KS 66048
Phoneman@Lvnworth.Com
Complaint_against: First EquityComplaint:
Sorry outfit.....everything was good for two years or more....then
six months ago I don't get a bill. Bill=payment invoice. No invoice,
no check sent. Late by 10 days....end-of-the-month Accounts
Receivable and Accounts Payable review is the only way we found it.
Sent in double payment. Never had more than 1/5 the credit line in
use. They fined me a late fee but..........they upped my interest
from 9 to 28 %. I didn't know this until I'd used it for a major
purchase and was going to pay it off. Then my card was refused. I
called to find out what the deal was. They claimed m! y credit info
had been stolen from them and they issued a new card but did not
issue a new account number. The letter and card showed up the next
day. I did not get billed for 45 days.....I had been sending in 5X
the minimum payment and when the audit found we had not been billed,
I sent a 10X minimum payment return receipt requested. They made
sure the payment was not processed until after they kicked in the
double late fee, upped the interest rate, and froze my card and
lowered my credit limit. My response was for them to stick the card
where the sun will never shine .... sideways. I am now paying them
off....the bank loaned me the money at a far better rate, I have
paid off all but one other card....these yahoos will be busted soon.
DO NOT GET SUCKERED BY FIRST EQUITY !!!!! |
|
| 362 |
 |
| |
| FMGH |
Denver, CO
faun@hauptmann.net
Complaint_against: First Equity Card
Complaint: Made a payment online in the amount of $8,000 in Feb.
2009 to these creeps and received only ONE payment confirmation code
and ONE confirmation email. Found out a couple of days later (you
can imagine how) that they withdrew double payments from my checking
account! Called to have the second payment reversed and was told I
would have to wait 7-10 days to receive a check in the mail. Wait
7-10 days for $8,000? Explained to them that this was putting my
checking account in an overdraft situation and needed the funds
returned immediately. Supervisor Blake told me their online payment
system ! was not set up to accept more than one payment per day, per
account, implying that I must have requested both payments online,
like yeah, I would want to overpay them by $8,000 because I just
happen to not need that money in the daily course of running my
business. They were trying to hold $8,000 of my money when they knew
that the double payment was processed in error and it was an error
generated by their own online payment system! Filed a report with my
bank that the double payment was in error and got the funds back in
my account (and out of First Equity's) the same day. These creeps
told me they were unable to process an ACH credit back to my
checking account nor wire the funds to correct the error. They are a
bank but they cannot return unauthorized funds collected in error
the same way they received them? FOLLOWUP: Next, they charged a
Returned Item Fee of $39 to my account in response to me taking
control and having my bank refuse the second debit from my checking
account. I called and asked First Equity to reverse this fee
considering their system should have never accepted two identical
payments back to back on the same day in the first place. The did
agree to reverse the fee, but then informed me they had placed a
permanent HOLD on my account. When I asked why, since I had always
made my payments timely and the account now had a $0 balance, they
could provide no explanation and told me that I would need to
specifically request that the hold be released. By that point I was
pretty indifferent to ever using this account again, so I decided to
let it ride for a few weeks while I considered what I wanted to do.
About two months later I called back and asked them to release the
hold. They said someone from the credit review department would be
calling me. Didn't hear fro! m them for several weeks, then received
a letter in the mail June 2009 telling me they had closed my account
"due to inactivity." Somebody please tell me how I was supposed to
use the account when they had a permanent hold placed on it? The
HOLD and subsequent account closure smells distinctly like
retaliation for paying off the account balance, in full, and for
getting my money back from them by going through my bank to extract
it after First Equity refused to send the ill-gotten funds back to
me in a timely manner. I have never had a credit card company close
an account due to inactivity for only two months. In Feb. there was
the double $8000 payment activity, in March there was that pesky
returned item fee, in April the undeserved returned item fee was
reversed, in May I requested the hold be released, and by June my
account was closed due to inactivity?! Puhlease. All I can say is
good riddance. Since my account with them was only open for about
two years, I'm certain their action to close my account has
negatively impacted my credit scores. I never missed a payment to
them and was never late, paid my account in full, have excellent
credit with my other creditors with FICO scores close to 800, and
this is how they treat a solid customer? Judging from the other
complaints posted all over the internet about this company, my
experience is the tip of the iceberg. These guys smell all the way
from Georgia to my home state of Colorado, even though the winds are
usually blowing east. That is one pungent odor. First Equity Card's
business practices have a distinctly MAFIOSO aroma. They are
usurious, retaliatory, punitive, fraudulent, and downright
irrational. Somebody needs to shut them down and somebody else needs
to sue them for lots and lots of money. This is a white collar crime
organization masquerading as a credit card company and a bank. If
you don't have an account with this company, don't get one. Ever. If
you do have an account with them, do whatever it takes to move the
money out to another legitimate bank, or pay it off, and close your
account (though once you pay them off, they'll probably take care of
the account closure for you, as they did with me.) We are consumers
and we decide which businesses succeed, and which ones fail. Make
them fail folks. Tell all the small business people you know and
don't let them use, deceive, extort, lie or otherwise profit from
you or anyone you know. Stop begging them to do the right thing,
because they won't, and it gives them the delusion that they have
power over you that they don't really have. Take control and you'll
feel better about yourself and your small business. |
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| Elizabeth Walbom |
Draper, UT 84020
Complaint_against: First Equity Card
Complaint: I started my first business with perfect credit. I could
have gone with any number of companies to get my business Visa, but
unfortunately I chose First Equity Visa. Big Mistake! They gave me a
$5000 credit which was barely enough to cover my monthly expenses,
but I pay it off in full every month. One month the bill was paid
"in-full" two days late. First, the card was frozen for 10 business
days. Second, not only did I get a late fee (as expected), but they
cut my credit down to $3000! Third, the customer service reps are
just some call center that can't help at all and has no authority.
They won't allow you to speak with management, nor give a number to
contact anyone who is actually at First Equity. Two months later, I
again paid the card, in-full, a couple days late because we were
moving office locations and the bill was misplaced. Again, not just
a late fee like other respected financial companies would charge,
but account completely frozen for another 10 business days while
corporate "Reviews" it. Meanwhile I am defaulting on automatic
payments to other vendors from my credit card (which put my Career
Builders account on hold, too). Result, credit now reduced to $2000
and I have to pay almost every week so that I always have enough
room for business purchases. Well, I was told that if I paid through
their website it would register in my account by the next day--
that's a lie. No matter how you pay (even instant online transfer)
they hold your money for 7 business days until they apply it. Sounds
illegal to me, but the real problem is that I've got a credit of
$2000 and a balance of $966, but I only have access to $34 because
my online payment of $1000, received 3 days ago, hasn't been applied
yet! Crazy frustrating!! If you want to deal with this headache
every week then by all means, sign up with First Equity. Otherwise,
use any other credit card company you can find!! |
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