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Regular Contributor
ash4557
Posts: 196
Registered: ‎07-25-2007

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

Ok guys,

Dont call the phone number on the back of your card. Call this number 1-888-566-9168. If they recently charged you an annual fee and it hasn't been a year tell them to remove it or waive it. For me it was accessed 6 months ago so they took half off. Once that is posted i'll pay off whatever the balance is and close it completely. Hey I don't know about anyone else but i'm not trying to pay the 6.50 monthly fee and interest for a small balance. Hasta la Bye-Bye

New Member
shotel
Posts: 1
Registered: ‎01-09-2008
0

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

I too just received "the letter" this morning.

 

Called the number ash4557 posted and finally got a rep to waive the prorated annual fee.

 

Next step, the balance of $650 on a max CL of $1,000.  Called both Capital1 and BoA:

http://www.capitalone.com/creditcards/products/most-popular/?linkid=WWW_0608_CARD_TGUNS03_CCMAIN_C1_01_G_CCPMP

1-866-627-0071 (beware Looooong "up-sales" driven conversation with rep)

 

http://www3.bankofamerica.com/creditcards/?context_id=marketing_detail&offer_id=ECOMM090XFEQ00400800121983EN001&requestTimeout=120&router_flag=y

 

I already have a card with Cap1,  and they only would give me a new card with a $500 limit.  I could pay off $150 of the Salute card and transfer over the balance, but then my ratios would be penalized.  So spoke with BoA and got an appoval on a new card with a a $1,000 limit at higher interest.  So either way, I could get Salute out of my life today.  But at a cost one way or another.

 

I decided to get a BoA SECURED CC.  I transfered $1500 from my savings, and then transfered the Salute balance to that new BoA Visa card.  It was effectivly like paying off the Salute card, but it (the Salute card) serverd it's purpose in that it (in addition to settling all of my bad debt and 2 other hard money cards) took my composit score from 450 to 669 in a little less than 2 years.  The BoA card reports just like the other cards [from everything I have read].

 

Bottom line is there are fairly instant alternatives to the Salute issue.  And it may be high time to get rid of tier-3/hard money credit cards like Salute anyway + move closer to an "all-cash" lifestyle.

New Visitor
slosd
Posts: 1
Registered: ‎11-08-2008
0

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

OK... I think everyone needs to take a minute and calm down a little.  I have had a salute visa card for over a year.  I have always paid off my balances and have not gone over my limit.  My account was cancelled on 04 November 2008.  It didn't matter to me since I have other credit cards with higher limits.

 

I called customer service and [It's NOT you (cardholders)].  The Salute Visa Card program was Terminated!  I'm not a genius; but looking at our current Economic situation with other banks like (Wamu, Wachoiva, etc) going under; it's no surprise that banks that offer credit to risky lenders are going out of business.  Not because people aren't paying on their accounts; but b/c out Economy is in the crapper.  I wouldn't be surprised to see post later that Urban Trust Bank was closed or bought out.

 

Also, the customer service agent stated that I would receive the $150 Annual Fee back (prorated) of course.  They were going to terminate my service on 04 December 2008; but I told her to terminate it TODAY; so I would only have to pay 1 month of the annual fee.  I would advise others to do the same.  Another suggestion for people... Save your money and put it in your Bank Account!  After watching the news; all banks are going to start minimizing credit limits and closing accounts to risky borrowers (i.e.. BKRPT; Deliq; etc).  This includes Capital One; BOA; Chase; etc.  Check out any financial Newspaper or magazine.  I wish everyone luck with the upcoming Economic Situation.  Hopefully the new change of office will help us in the next few years.

 

God Bless Everyone.

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

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


slosd wrote:

OK... I think everyone needs to take a minute and calm down a little.  I have had a salute visa card for over a year.  I have always paid off my balances and have not gone over my limit.  My account was cancelled on 04 November 2008.  It didn't matter to me since I have other credit cards with higher limits.

 

I called customer service and [It's NOT you (cardholders)].  The Salute Visa Card program was Terminated!  I'm not a genius; but looking at our current Economic situation with other banks like (Wamu, Wachoiva, etc) going under; it's no surprise that banks that offer credit to risky lenders are going out of business.  Not because people aren't paying on their accounts; but b/c out Economy is in the crapper.  I wouldn't be surprised to see post later that Urban Trust Bank was closed or bought out.

 

Also, the customer service agent stated that I would receive the $150 Annual Fee back (prorated) of course.  They were going to terminate my service on 04 December 2008; but I told her to terminate it TODAY; so I would only have to pay 1 month of the annual fee.  I would advise others to do the same.  Another suggestion for people... Save your money and put it in your Bank Account!  After watching the news; all banks are going to start minimizing credit limits and closing accounts to risky borrowers (i.e.. BKRPT; Deliq; etc).  This includes Capital One; BOA; Chase; etc.  Check out any financial Newspaper or magazine.  I wish everyone luck with the upcoming Economic Situation.  Hopefully the new change of office will help us in the next few years.

 

God Bless Everyone.


Did you read the preceding posts and the links? The company behind this card is a super marginal operation with legal issues! It likely has very little to do with the economy. Do not overly generalize that all problems with CC issuers are economy related. Some trip over their own feet in their haste to rip off the card holders!

Valued Member
Ryan2151
Posts: 47
Registered: ‎08-22-2008
0

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

I am so glad that there is a resource out there for us "everyday people" to come and share information and experience!

 

I received my copy of "the letter" on Saturday and immediately thought to come here to find some information. It looks like the entire outfit has closed up shop rather than just "good customers" getting turned off. I've had the card for a bit over a year and found it a good tool for rebuilding my financial reputation. I used the card extensively to build up a payment history and then I PIF'd about 2 months ago and have maintained a positive balance (only $5.00) since so I was wondering about that myself. I called the number that ash4557 was kind enough to post for us and requested two things:

1. A formal letter stating that I have no future obligation to this card, this includes annual fees as well as monthly maintenance fees.

2. A prorated refund on the Annual Fee that was just paid back in July.

 

The rep stated that the letter would be sent and that a check for the prorated amount would arrive in 7-10 business days.

 

Has anyone received their refund as yet? I'll be sure to post when/if I do.

New Visitor
goblindancer
Posts: 2
Registered: ‎11-14-2008
0

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

Mine as well....took me 4 days to get hold of them on the phone. I don't know why they didn't explain this in their letter instead of having people panic.....now hubbie's Aspire has been reduced to the $250.00 he owes on it

 

Wondering if this will ding everyone's credit score??

Valued Member
Ryan2151
Posts: 47
Registered: ‎08-22-2008
0

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

It would depend on how many other revolving accounts you have and your % of util on those accounts. If there is any change in score, I'd think it would be minimal.

Moderator Emeritus
cheddar
Posts: 6,794
Registered: ‎09-29-2007
0

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


Ryan2151 wrote:

It would depend on how many other revolving accounts you have and your % of util on those accounts. If there is any change in score, I'd think it would be minimal.


 

Utilization on individual cards counts for quite a lot.  Lowering one card's CL to the current balance makes that one card appear maxed out, and FICO will penalize you for that.

 

----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. :smileysurprised: )
New Visitor
chrisryan
Posts: 1
Registered: ‎11-20-2008
0

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

I noticed this forum and I got a little worried becuase Im using the Salute to build my credit as well, so I use it constantly and pay it off every month, leaving a little balance for the credit reports.

 

I called and the first thing they said was, "Im sorry sir, your account has been closed"? Then he said "No wait" your account has not been closed, I asked him to explain, he said accounts opened after March 08 are mostly still open? I have had my account longer than that but I re-opened it just 3 mos ago?

 

I don't understand why they would say that? I have a high balance currently and I was about to pay it off completely to continue using it, but don't want to send in a $1000 and not have access to it?

 

Does anyone else still have an open account with them? Any news?

New Visitor
QUANNY1
Posts: 1
Registered: ‎11-21-2008
0

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

I JUST WANT TO SAY THAT I'M TOO A VICTIM OF THE SALUTE VISA SCAM! I GET THIS LETTER IN THE MAIL LIKE THREE DAYS BEFORE MY SCHEDULED PAYMENT THAT YOUR ACCOUNT IS TERMINATED :smileysad:

NOT TO MENTION THAT I PAY MY SCHEDULED PAYMENTS ON TIME EVERY MONTH AND PAY THEIR FUNKY LITTLE INTERNET FEE JUST TO PAY MY BILL AND STILL $O FOR CREDIT. NOT TO ALSO MENTION I RECEIVED A CREDIT LIMIT INCREASE OF $100.00 BECAUSE OF MY OUTSTANDING ACTIVITY WITH THEM AND STILL NOTHING. AND OF COURSE THE 1800 # GIVES YOU A DARN BUSY SIGNAL THAT DISCONNECTS YOUR CALL! SO I CALL THE 1800 # ON THE BACK OF MY CARD TO FIND NO ANSWER THAT I REALLY WANTED TO HEAR. NO LEGITIMATE EXCUSE ON WHY I HAVE TO PAY THEM BACK BUT THEM DISCONTINUING  MY SERVICES. AND OF COURSE I TOLD THE CUSTOMER SERVICE LADY I AM NOT PAYING THE YEARLY ANNUAL MEMBERSHIP FEE BECAUSE I REFUSE TOO WHEN IT HAS NOT BEEN FOR A WHOLE YEAR! AND OF COURSE AFTER SCREAMING AT HER I GOT JUST WHAT I WANTED, THEM CREDITING MY ACCOUNT FOR $150.


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