Skip to main content

Update: bank screw-up with "defaulted" credit card

After applying with a new company, my husband and I decided he should walk into our bank and ask to speak with a loan specialist. This all happens with my presence represented by a cell phone on the table, as I couldn't physically attend.

Short story is, as soon as we asked them to show us where we defaulted on our credit card, they said they'd "allow" us to appeal the situation. Now, at this point, I'm pretty pissed. So I told them that while we will be appealing the situation, I still wanted to know where exactly we have even had an officially late payment. At this point, the lady just begins profusely apologizing; still no explanation.

We ask her to print our entire payment history. It aligns with my memory of the subject; there's one payment, the first, that is four days late. All other payments were made on the 1st of the month, with the due date falling on the 9th.

The only place this all broke with my expectations is that when we negotiated for a lower interest rate and closed the card they did not, as we thought, transfer it to a personal loan. They cancelled the card, and gave us a 7% interest rate rather than the 10.2% we had when the card was active. I don't really care, as it's all the same in the long run, as far as I know.

But here's where it gets a little weird.

The next day, the card had been bloody reinstated. Which again, in the long run, doesn't matter too much. I'm going to keep pretending it doesn't exist, except for paying it off. We're 6 months away. But it's weird, and we never asked for them to reinstate it, nor did we want it. They did, however, leave us the reduced interest rate.

submitted by /u/pinknoisechick
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/cjlqsz/update_bank_screwup_with_defaulted_credit_card/

Comments

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...