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Now this is just bad customer service and I don't think I want to do business with these people. Should I cancel this account before the transfer goes through?
3 weeks ago, I was approved over the phone for a $5K line of credit to do a small balance transfer at 0% for 6 months (way more than enough time to pay off the balance). The woman I spoke to at Sovereign Bank told me I was approved, and that the balance transfer would be going through within 30 days. Great.
I was clearly told that I was approved, and that the BT would be within 30 days and that my line of credit would be $5K. I was told I would have the card within 10 days.
Well, I noticed it was taking an inordinately long time for the BT to go through and that I did not have the card yet. The last BT I did from Discover took about 5 days to process and was hassle free in every way.
But I figured that it was still in the 30 days so no worries.
I JUST got a call from a quality control person, informing me he needed to review my app and lower the limit on another line of credit I have with this bank… I was not aware it was the same bank. I thought Sovereign and BoA were separate but I guess not.
First he wanted to close it completely. Um, I'm not letting you close a $23K line of available credit that I don't use, don't even have a card for, carry no balance on that is just sitting there on my credit report helping my utilization. I HAD TO EXPLAIN UTILIZATION TO THIS GUY! OMG! Even at 0% the aggravation = not worth it.
The balance I was transferring was not that big (under $1100) but I had figured 0% is better than any percent so why not! I could pay it off in full now but I'm trying to save because my living situation is not very stable so I decided to BT it to 0%.
Anyway, he told me he'd keep the old $23K line open and lower it by $5K. So it is now $18K. I told him that would be fine. Then I demanded to know why I was lied to 3 weeks ago when "Tanya" told me that I was all set and the card was in the mail etc. He could not answer me.
I asked him when the transfer would go through. He told me within 30 days. So really almost 60 days from when "Tanya" lied to me. I wonder if I'll get another call in another 3 weeks?
Man, am I annoyed. At this point, I will pay just the min on this balance as it stands now, but that means when they DO the BT, the amount I initially asked them to BT will be lower. How does that work? Will the old card go into the negatives?
I'm starting to feel very sketchy about even doing business with this bank. And what's even scarier is my checking and savings are through Sovereign as well…
WWYD?
3 weeks ago, I was approved over the phone for a $5K line of credit to do a small balance transfer at 0% for 6 months (way more than enough time to pay off the balance). The woman I spoke to at Sovereign Bank told me I was approved, and that the balance transfer would be going through within 30 days. Great.
I was clearly told that I was approved, and that the BT would be within 30 days and that my line of credit would be $5K. I was told I would have the card within 10 days.
Well, I noticed it was taking an inordinately long time for the BT to go through and that I did not have the card yet. The last BT I did from Discover took about 5 days to process and was hassle free in every way.
But I figured that it was still in the 30 days so no worries.
I JUST got a call from a quality control person, informing me he needed to review my app and lower the limit on another line of credit I have with this bank… I was not aware it was the same bank. I thought Sovereign and BoA were separate but I guess not.
First he wanted to close it completely. Um, I'm not letting you close a $23K line of available credit that I don't use, don't even have a card for, carry no balance on that is just sitting there on my credit report helping my utilization. I HAD TO EXPLAIN UTILIZATION TO THIS GUY! OMG! Even at 0% the aggravation = not worth it.
The balance I was transferring was not that big (under $1100) but I had figured 0% is better than any percent so why not! I could pay it off in full now but I'm trying to save because my living situation is not very stable so I decided to BT it to 0%.
Anyway, he told me he'd keep the old $23K line open and lower it by $5K. So it is now $18K. I told him that would be fine. Then I demanded to know why I was lied to 3 weeks ago when "Tanya" told me that I was all set and the card was in the mail etc. He could not answer me.
I asked him when the transfer would go through. He told me within 30 days. So really almost 60 days from when "Tanya" lied to me. I wonder if I'll get another call in another 3 weeks?
Man, am I annoyed. At this point, I will pay just the min on this balance as it stands now, but that means when they DO the BT, the amount I initially asked them to BT will be lower. How does that work? Will the old card go into the negatives?
I'm starting to feel very sketchy about even doing business with this bank. And what's even scarier is my checking and savings are through Sovereign as well…
WWYD?
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