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Established Member
Realestateguru
Posts: 12
Registered: ‎05-03-2008

BOO HOO Salute Visa closed my account :(!

I know that this has been happening, but it wasn't happening to me :smileysad:! Last night I went online to schedule an additional payment on my Salute Visa and BAM I notice that my available credit was $0 and my credit limit was $0!  I couldn't believe it since I use this card every month so I know that they didn't close it for inactivity.  I got my card 1-1/2 year ago by pre-approved letter with a $1,000 limit and I have gotten auto CLIs every 3-6 months and my limit was at $1,750.  I was anticipating at least another $250 cli since I was about to reach another six months but to my surprise, instead of a cli, it was CLOSED!:smileymad:

 

I just got off the phone with Salute and on the message its states to press #1 if you are calling in regards to the Brand closing letter that you have received!  I spoke to a rep who informed me that the type of account that I have has been discontinued to no fault of my own and my letter was sent out yesterday!  I know that they have different accounts and I beleive that my account was the one for higher credit limits because my DH has one and his is still open (knock knock on wood) I know his account is different because he had to pay a processing/annual fees and I didn't.  His limit started at $300 and is now at $650 and he had his card for almost a year.  Oh wells, just wanted to give every1 who has this account a heads up!  My only real concern is how it will affect my score :smileysad:!

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Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008
0

Re: BOO HOO Salute Visa closed my account :(!

Any outfit that would close your card like that without grandfathering you or offering to change you to another product is lower that low. Be glad you are rid of them before they could find and even more sinister way to screw with you in the future.

 

Fie on them. May them that took this action on you have their HELOC's closed!

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heirophant
Posts: 532
Registered: ‎11-25-2007
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Re: BOO HOO Salute Visa closed my account :(!

My guess is they weren't getting enough fees from you, so they closed your account.  They live on late fees!
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Established Member
Realestateguru
Posts: 12
Registered: ‎05-03-2008
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Re: BOO HOO Salute Visa closed my account :(!

Thanks jmbfl and heirophant! You are both right, goodbye and good ridden to Salute (Urban Trust)! I found out that my account was listed under their CORE type account and my DH is under the SUBPRIME type! Who needs a company that would rather have SUBPRIME clients and not CORE ones!  Down with Salute!!  LOL so sry DH! As soon as I build up his credit I'm dumping SALUTE VISA as my payback :smileyvery-happy: (sinister laugh)!
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gatti3
Posts: 3
Registered: ‎11-03-2008
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Re: BOO HOO Salute Visa closed my account :(!

I got my letter today from Salute.  My question is, I have reviewed thoroughly my cardholder agreement, and I cannot find a place which states that I have to continue accruing the monthly maintenence fee when the account is terminated, and further when they terminate the account.   I've had the account for a year and a half and pay a 9.95 monthly maintenence fee.  What recourse do I have as a consumer to investigate this matter?  I've tried the phone number listed in the letter, and its a fast busy signal.  The website mysalutecard.com is no longer accepting new applications.  I believe this whole outfit folded.  Do I really have to go through arbitration as listed in the cardholder agreement?  I've never had to dispute a credit card before. 

 

Following is the letter I received, word for word. 

 

NOTICE OF TERMINATION OF CARD PROGRAM

 

Dear

 

We must regretfully inform you that we are discontinuing your Salute Visa Gold program.  Consequently, we have closed your account to new transactions and may refust to authorize any new transactions effective immediately.

 

Please note that even though your account will be closed to new transactions, you will remain obligated to pay us at least the minimum required payment on your existing balances and any new balances in a timely manner.  If you have a balance, you will continue to receive monthly Salute Visa Gold billing statements and to be assessed an account maintenence fee as set forth in your cardholder agreement.  The account maintenence fee can be avoided by paying in full your outstanding balances.

 

Please tell your utility companies, Internet providers and other retailers or merchants to stop any automatic charges to your account immediately.  You will remain liable for any such charges that may be posted to your account.

 

We apologize for any inconvienence this may cause.  If you have any questions, please call us at 1-800-708-9040.  Thank you for your attention to this important matter.

 

Sincerely,

 

Salute Visa Gold

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gatti3
Posts: 3
Registered: ‎11-03-2008
0

Re: BOO HOO Salute Visa closed my account :(!

Update:  I was able to get through on the 800#, only to be on hold for 15 minutes, before being connected to a representative, who asked me for my card number (I complied), my first and last name (I complied) then asked me for my FULL social security number.  I advised this representative that I was not comfortable releasing my full ssn, and would only release the last four.  He stated that in order to continue and access my information, he needed my full ssn.  I stated that I would not give that out, and asked what happens now.  The customer service representative stated he would get his supervisor.  After being on hold for another 10 minutes, a supervisor named Tibet came on the line, and asked me for my full ssn.  I stated that I had previously mentioned to the customer representative that I was not comfortable releasing my full ssn, but would only confirm the last four.  She stated it was needed in order to continue.  I rebutted and said that I have never had to provide my full ssn, and her response was that they have a new computer system now that the accounts are closed, and it was needed to continue.  I advised her that this call was useless, and disconnected.

 

So, how am I, as a consumer, supposed to feel safe in providing my full ssn to a credit card company that is no longer doing business?  With which I've never had to provide my full ssn before?

Regular Contributor
My2cents
Posts: 231
Registered: ‎02-16-2008
0

Re: BOO HOO Salute Visa closed my account :(!

It could be that they are seeking customers that they can grow with and that also have potential. Your 650ish score may be out of their league.  Note that financial institutions cater to a certain customer and you may not be the customer that they want.  Orchard is worse.  They will accept you and give you a 500.00 card and charge you for a 100 dollar increase even when you have a 700 plus score:smileysad:

 

Note:  A builder cant build you if you are already built:smileywink: Good riddance:smileywink:

 

Try WaMu and tell them My2cents sent you:smileywink:

 

My2cents:smileywink:

700 Club Member
New Visitor
mcerik
Posts: 1
Registered: ‎11-05-2008
0

Re: BOO HOO Salute Visa closed my account :(!

You're not alone in this matter, guru, as I have also been stung by what appears to be the dissolution of the My Salute line-of-business as issued by Urban Trust. After having this card for over a year, never missing a payment and usually overpaying the minimum, I was startled this morning when the card was refused at a merchant; I go online after arriving home, and see my credit limit set at 0 and available credit set at 0. After calling and reaching a heavily-accented (and likely off-shore) agent, I was informed that Salute Visa had closed all of their customer accounts.

In your words, "I know that this has been happening, but it wasn't happening to me"...very a propos. It's a shame that we've lost a source of credit, but in this mercurial economy it's almost expected that this will happen, particularly with sub-prime credit issuers like Urban Trust. What I question is the legality of charging a customer monthly/annual "maintenance" fees on an account that was electively closed by the issuer; at best, this would be unscrupulous, and at worst illegal. It would be as if you were leasing a car, making your payments on time and in good-standing, and having the leasing agent re-possess your car...and then expect you to continue making payments. 

We should investigate this matter, don't you think? Personally, I plan on paying off the balance as soon as possible, but that won't stop me from blowing the whistle on Salute if they're engaged in un-ethical business practices. 

Valued Contributor
jmbfl
Posts: 1,185
Registered: ‎03-04-2008
0

Re: BOO HOO Salute Visa closed my account :(!

Salute Visa is a product of CompuCredit Corporation. They have a very checkered past. Here is an article regarding one recent federal action against them:

 

http://www.usatoday.com/money/perfi/credit/2008-06-10-credit-cards_N.htm

 

If you want to file a complaint I would start with the FTC - they had a specific interest in the above captioned case. I would also contact the attorney general of your state. Before doing either of these things I would send a letter to Salute requesting relief from the fees. Send it CMRRR. After they ignore your letter or send you some gibberist response then let fly with your official complaints attaching a copy of what you sent Salute and their response.

 

Good luck. Hope for forces restitution. If this becomes a class action suit you might get $2.00 five years from now!

Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
0

Re: BOO HOO Salute Visa closed my account :(!


jmbfl wrote:

Salute Visa is a product of CompuCredit Corporation. They have a very checkered past. Here is an article regarding one recent federal action against them:

 

http://www.usatoday.com/money/perfi/credit/2008-06-10-credit-cards_N.htm

 

If you want to file a complaint I would start with the FTC - they had a specific interest in the above captioned case. I would also contact the attorney general of your state. Before doing either of these things I would send a letter to Salute requesting relief from the fees. Send it CMRRR. After they ignore your letter or send you some gibberist response then let fly with your official complaints attaching a copy of what you sent Salute and their response.

 

Good luck. Hope for forces restitution. If this becomes a class action suit you might get $2.00 five years from now!


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