Years ago you may have received an application for the Tribute Gold MasterCard in your mailbox. If you applied, is it still haunting you?
People with good credit hate getting credit card offers in the mail (they’re looked upon as junk mail). However those with bad credit only wish they were getting those offers!
If you fall into the latter category, you may have been thankful when the Tribute credit card application made its way to your mailbox. It was targeted at people with subprime credit during the mid to latter part of last decade.
For a $150 annual fee you were given a credit limit of – get this – only $300! Yes that’s right, your annual fee was equivalent to 50% of your credit line. And to add insult to injury, they charged a $9.95 per month “maintenance fee” ($119.40 per year). That, combined with the annual fee, meant you were paying $269.40 for a credit limit as low as $300.
Technically it was an unsecured card, but it certainly didn’t feel like one!
You just can’t kill it
In 2009 the program was cancelled. Why? Presumably because of the Credit Card Act of 2009, which prohibited a card’s first year of fees from exceeding 25% of its credit limit. Clearly, this card wouldn’t have been compliant.
At that time, existing cardholders were notified their accounts would be cancelled. One would assume that a cancelled credit card would also mean no more fees would be charged, but reportedly, that hasn’t been the case.
Even though it’s 3 years later, there are countless complaints online of previous cardholders who had their card closed in 2009 but are allegedly still being charged the $9.95 monthly maintenance fee. For example, here’s part of a review that was posted on Ripoff Report in 2012:
“Tribute MasterCard closed my account in 2009 because they said that the bank is no longer in the program. Every month since 2009 I am charged an account maintenance fee even though the account has been closed for three years. I called them complaining about this issue in 2009 and they totally ignored me regarding these fees for an account that is closed.”
If that was just one person ranting, I would be skeptical. However I have seen many who allege the same. Here are some others on Consumer Affairs.
How do you contact them?
Their website, https://www.mytributecard.com, seems to be the most primitive and useless source for information. Based on the footer, have they not updated it since 2009?
And who is Domain Name Acquisitions, LLC? Does that sound like a bank or credit card company to you?! I think not.
Tribute’s customer service seems to be almost non-existent. Their website has an online contact form and a P.O. Box address out of Atlanta. Aside from that, I see no phone number listed.
Have you been a victim?
Are you a former Tribute credit card holder who is still being charged a monthly fee on a cancelled account? Do you have any contact info (ideally a customer service phone number) that you could share? I would like to help people out who are still dealing these slimeballs, so anything you know please post in the comments below!
And if you still have bad or marginal credit…
…you should NEVER be paying $100+ per year for an annual fee. Credit cards like Tribute are a total waste of money. As a good alternative, I recommend the Capital One Secured MasterCard or an entry-level unsecured card which comes with much lower fees.