This was more of a warning/rant, but I'd also like to get your take on this.
I had a 0% APR BT offer that I was using.
I made a purchase after that. BT bal was still on my card. The rep agreed with me that as long as I paid off the purchase by the next statement's due date, I would not be charged interest. Wrong. I was charged interest from the transaction date. They waived the interest charge after I explained that their rep gave inaccurate info. Great.
The next month, I was charged interest, but IIRC, the rep explained that it was trailing interest. He even told me that I could avoid that in the future by calling to get the exact amt that I had to pay. After our call, I paid what he told me would help me avoid the trailing interest issue. I actually paid above that to account for the interest for the few days between the statement and the date that I called.
The next month, I was hit with a "minimum interest fee". It's just a $1, but when I notice these things, especially when they're this small, it makes me wonder how many other customers are not noticing while the bank is profiting off of what I consider a glitch or scam.
So, I wanted them to explain this fee. They did refund it, but I still asked the guy to justify the fees. He went over all of the charges and my payments. I think that by the end, even he was confused and said, "That's just the way the system works. If you want to file a complaint..." 😡 That's just the way the system works???!! That is so not an acceptable answer, especially when you're dealing with money. That ticked me off.
Their site clearly states, "Generally, we will apply your Minimum Payment first to lower APR balances (such as Purchases) before balances with higher APRs (such as Cash Advances). Payments made in excess of the Minimum Payment will be applied to balances with higher APRs first before balances with lower ones."
There appears to be a discrepancy about how the payments are applied.When the rep transferred me to their escalations team today, the rep read me a statement (and she made sure to mention that I may not have heard it when it was read to me on previous calls...It was never read to me. 🙄). Her statement claims that they apply payments to balances with the lowest APR or higher dollar amount first. That's completely different than what's on their site and what the first rep told me last month. In fact, she went further to say that there's not even a way for me to avoid future interest on the purchase bc their system has no way to allocate payments to certain balances, and that I still have a purchase balance. Last month, my statment displayed a purchase balance of about $6. I paid almost $300 above my min payment. There's no way that I should still have a purchase balance, but I do. I'm waiting on a response from their escalations team.
What's really sad is that each of the last three reps that I tt all stated that the previous rep that I tt gave inaccurate or incomplete info. That's not good.
