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To anyone out there who has dealt with First Equity Credit Card bank, I pity you. Their practices are deceptive almost to the point of criminal.

I was accepted an offer for a card from First Equity at 12% apr. When I received the card the apr was 23%. I decided to keep the card for emergencies only, and whenever I have used it I paid off the balance in full. We'll today I got a letter stating my account agreement was now being changed, that my rate was now 26% and on top of that I was to pay a anual fee of $39.

Next it goes up to $49! I asked why my agreement was being changed when I have never been late or never have gone over my limit. Their totally sarcastic customer service rep said they could do whatever they wanted as long as it stayed just below the legal apr rate and that I could cancel my account but would have to make all my payments at the higher rate. I have contacted the states attorney general and have hired a legal counsel to try to get a class action against this company.

In the meantime I know there are thousands of blogs about how deceptive to the point of criminal this company is, and now there is more voice to be heard.

Monetary Loss: $3000.

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Cathays, Wales, United Kingdom #44336

Oct 22,2008

Our company also has a First Equity CC that we have had for a few years. Our credit line is $10,500, and as of today we have an outstanding balance of 2K. We pay about 2K a month. I'd like to add that we have never even once been late on any payments, as the payment is sent in 5 days before the due date.

Today all of a sudden the card does not work. WTF is this? I called the Customer Service agent and was told that the acct was on a Corp Review and not to be used at this time. What that means is anyone's guess. I did speak to a Supervisor who said she has no explanation and that she will send in a request to have this review stopped. I asked for a contact at Corp but they don't have that information. Oh they have it, but you ain't getting it.

She said to call back in two days to see if this has been corrected.

Well, I have a great solution. I am going to have our accounting dept pay this acct in full and close it. We charged over 45,000.00 in 2007 and owe a stinking 2 grand and you did this to our company.

So Mr. First Equity agent. Tell me why this happened in the first place and why a good customer such as our company has to endure this type of treatment? We don't! I just now activated a Corp card that we have had with Washington Mutual. Bet they won't treat us this way.

Maybe as the other poster mentioned...You have the money problems, we DON'T!!

Pasto, Narino, Colombia #16141

Thanks For the info on First Equity. I just cancled the App Process........Thanks Again......

Scott Depot, West Virginia, United States #11422

I just closed my first equity account. I had been given a credit limit of 12,000 for over a year I had not used the card, but I had an out of town business trip and I needed some extra funds so I put the trip expenses on my FE card. While I was out of town, FE decided to change my limit to 4000 without any prior notification. Needless to say I had some charges decline and of course I was charged over limit fees, ect.

Now I receive notice that they will be charging an annual fee as well as the 30% interest they jumped me up to after my prior fiasco. Forget it.

Business owner beware. .

Do not deal with First Equity, it's a ripoff

Alburgh, Vermont, United States #10256

The filtered e-mail:

osakwv [at]

Alburgh, Vermont, United States #10253

Mr./Ms. Firstequitysucks [original name],

My name is Jesse, I'm a FECC customer service representative, and I sincerely apologize for any inconvenient experience you may have experienced with our customer service.

I would, however, like to elaborate on a few of your points:

- We do not pre-screen or pre-approve anyone based on other credit reporting or solicitations; however, we do check your credit during your initial application with us, before ever opening your account.

That said, we also send a correspondence letter explaining your credit line, our 50% rule [you must make a payment before your full credit line is available to you] and your annual percentage rate. It is up to you, from that point forward, to call us and close your account -- or receive further explanation.

The account agreement is our periodic change in terms of agreement -- which is stated in our terms of agreement you received with your FECC credit card, which permits us to make changes without prior notification to you. The agreement, however, can be opted out of, by sending in a written request -- which would close your account, and keep your apr the same.

Your agreement wasn't the only one being changed, it was a FECC-wide change, sir/madam. It had nothing to do with your prior history with our company.

The customer service representative, albeit sarcastic, was right to a point -- we CAN make changes as we see fit; however, I would like to apologize for the representative's behavior. They should have explained they could have retained your ORIGINAL apr, per your request. Their comment of "We can do whatever we want." is not warranted -- and should not reflect the rest of our CS department.

Again, I do apologize for the inconvience... If you have any questions or comments:


ext 7718

FECC Customer Service

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