Bank stops accept Credit Card Payments!

[chris2k5]

Back in January of 2012 I bought a car and got the auto loan with Citizens Bank.

The reason I went with them over other banks was because:

1. The rate was competitive

2. They were the only one that accepted payments via Visa, Mastercard, or Discover

They notified me last month that they were no longer willing to accept credit card payments on August 9th.

Is there anything I could do about this? I know I am probably over reacting but I feel so ripped off. I chose them so I can get miles/points via credit card payments and now they've taken away one of the biggest reasons I chose them.

It is very bait and switch...

[Simply827]

It is not bait and switch as banks can change their policies whenever they like. 

Having the option to pay by CC was likely not a contractual stipulation so you have no recourse against them.

Learn about Bluebird and Serve to see which one better meets your needs to still use a CC to pay your note.

[pizzadude]

+1. Unless your loan agreement has a clause regarding this, then there's really nothing you can do.

And as you noticed it's unusual for lenders to do this; they don't want to pay the merchant fees nor do they want to make it easier for you to accrue revolving debt.