US bank closed my accounts after I filed a fee dispute

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newbie123
 
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US bank closed my accounts after I filed a fee dispute

Postby newbie123 » Fri Mar 23, 2012 1:29 pm

I filed a fee dispute on a US bank credit card, then they closed all my US bank credit cards. They said I am high risk. However, I never made one late payment. Is this legal? I went to headquarters and they refuse to re-open my cards. Who can I go to for help?

I thought it was against the law for the credit card companies to close our accounts just because we filed a fee dispute?


jeffysdad
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Postby jeffysdad » Fri Mar 23, 2012 3:01 pm

If your dispute was legitimate and you really believe you were in the right (and only you can answer this) and the circumstances are as you describe, then I would not go quietly. Let people know what you think of US Bank. I wouldn't expect to get the accounts re-established. If it was me, I wouldn't want to anyway. I would pick another bank.
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Celestine
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Postby Celestine » Sat Mar 24, 2012 1:12 pm

@jeffysdad is correct... if the dispute is legit then fight it. But since US Bank already closed your account, then if you were were me I wouldn't want to be their customer again.

Fight the dispute and find other lenders that would provide you with better service.
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

DavidNY
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Postby DavidNY » Sat Mar 24, 2012 4:51 pm

A bank can close anyone's account for any reason (real or imaginary).

Credit-Card Companies Can Cancel Accounts Without Customer Knowledge - WSJ.com

You're not missing much, move to a card that will pay rewards.

newbie123
 
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Location: California

Postby newbie123 » Sat Mar 24, 2012 5:24 pm

DavidNY wrote:A bank can close anyone's account for any reason (real or imaginary).

Credit-Card Companies Can Cancel Accounts Without Customer Knowledge - WSJ.com

You're not missing much, move to a card that will pay rewards.



The bank closing my cards ruined my credit score because it looks as if I am overdrawn on my credit cards. The accounts are closed but there is still a balance on the closed cards. I'm still paying, but my credit score is bad because they closed the accounts.

Celestine
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Postby Celestine » Sat Mar 24, 2012 9:01 pm

newbie123 wrote:The bank closing my cards ruined my credit score because it looks as if I am overdrawn on my credit cards. The accounts are closed but there is still a balance on the closed cards. I'm still paying, but my credit score is bad because they closed the accounts.


If I may ask, what particular fee did you file a dispute of?
"Nearly all men can handle adversity, but if you really want to test a man's character - give him power." - Abraham Lincoln

JCarter
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Postby JCarter » Sat Mar 24, 2012 10:29 pm

newbie123 wrote:I filed a fee dispute on a US bank credit card, then they closed all my US bank credit cards. They said I am high risk. However, I never made one late payment. Is this legal? I went to headquarters and they refuse to re-open my cards. Who can I go to for help?

I thought it was against the law for the credit card companies to close our accounts just because we filed a fee dispute?


As far as legal standing, they are well within their rights to recind the offer of credit at any time. If I was you I would contact their executive offices with your complaint and fee dispute, then state that you feel you were harmed due to the closure of your credit line and this has had an adverse impact on you due to retaliation from the bank. Tell them you are prepared to take action on that point (as a simple tort) and in the society we live in I think you find they will be fairly open to resolving your dispute and making sure any negative impacts on your credit are removed.

newbie123
 
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Postby newbie123 » Sun Mar 25, 2012 10:17 am

JCarter wrote:As far as legal standing, they are well within their rights to recind the offer of credit at any time. If I was you I would contact their executive offices with your complaint and fee dispute, then state that you feel you were harmed due to the closure of your credit line and this has had an adverse impact on you due to retaliation from the bank. Tell them you are prepared to take action on that point (as a simple tort) and in the society we live in I think you find they will be fairly open to resolving your dispute and making sure any negative impacts on your credit are removed.


Thank you for the suggestions. The executive office has already been contacted. They said to sue them. An OCC complaint has been filed. Unfortunately, the OCC has incompetent people making legal decisions. They hire teenage employees to make legal decisions in their call center and pay them minimum wage to answer phones. You are just a number. The case has been with the OCC for over two years now. When you call there, they do not know banking law because they are minimum wage call center workers. They barely have high school diplomas if even that, and they do not speak English or they speak ghetto Ebonics.They are clueless.

It is illegal to retaliate against a credit card holder simply because of filing a fee dispute, but if nobody is going to be there for the consumer to enforce the retaliation laws, then why even bother having the laws.

An attorney will cost too much money to hire.

JCarter
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Postby JCarter » Sun Apr 01, 2012 10:53 pm

In short:

No if I am a creditor, I can terminate my issuance of credit to you at any time for any reason. You would simply have to argue that by doing so they have caused you considerable damage on your credit report, and the like.



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