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For those of you who have questions about 1fbusa I was an employee of the bank for many years and understand the workings behinds the scenes. I am not angry with the bank and will not say anything negative about my previous co-workers. I am very happy to help you with questions on how to resolve your issues
I have sat and listened to call after call of parents and card members call in with issues about fees and interest rates. Like most credit card companies 1fbusa makes it’s money in the hopes you or your child misses a payment. I want everyone to know how the process works when you miss a payment. Usually 1fbusa issues a line of credit of only $250 which we all know your child runs out and spends up to that limit in the first day of the card arriving in the mail. I can’t tell you how many times I have seen this happen. Based on the “Terms and Conditions” set forth by 1fbusa and card member if you have a late payment the cost is $37 (sometimes $39) if your late payment puts you over your line of credit you receive and over credit limit fee also of $37. Now, this is what I feel is basically stealing or unnecessary fees in my opinion. If you ever go over line you get a OCL (over credit limit fee) fee right away, if you don’t call back and pay to bring your bill back under your line of credit you receive another OCL fee $37. Purchases that take you over your line credit it doesn’t matter how little the amount or how large you receive the fee if you don’t call back to pay your OCL you receive another fee on the last day of your billing cycle. So, if you ever notice that you are OCL back right away to pay OCL plus 10% of balance to avoid any future fees. This bank if very conservative in refunding fees back to card member so if your receiving fees for whatever your issue might be YOU will have to be the who asks for the fee credit as Collection Representatives are instructed not to offer any fee credits unless asked. Also folks, keep in mind if you ever miss a payment or your go OCL your cards default into a punitive rate. Your interest can go from 19% to 26% for missing one payment or being OCL. So, make sure you make those payments on time and never go OCL. I can certainly go over any issues with you may be having just email me or post your comment here I am happy to help.
The one thing that always bothered me the most about working there was how absolutely heartless this bank or any other bank is at treating people. They hope you miss those payments so they can asses fee. Keep in mind folk that they are not selling any product it’s just risk they assume for having the card. It’s just money they pull out of thin air. The system is all automated nobody actually sits behind a desk and pushes a button to asses a fee. What always amazed me how truly foolish the general public can be regarding credit cards. I have two stories for those of you who want to hear how rotten credit card companies are. I once worked an account where a poor college student had made payment through 1fbusa website. The card member made a payment of $8 which had been returned for NSF. The check was returned because the card member had fraud on her checking account which caused the issue. I truly felt horrible for this person as she was living with 3 other girls in an apartment and one of her roommates decided to go on a shopping spree with our card members check book. When the check was finally returned and fee added on the account she received a $37 return check fee, $37 late fee, then the fee took her OCL, she received $37 OCL fee twice!, not to mention the $9 fee for making payment at website for making a $8.00 payment on time. For those of you who are keeping track of fees here that was $157.00 for an $8.00 payment! Not to mention that the bank increased her interest rate from 0% to 21% even though this was confirmed fraud. I was truly ashamed of that call and have never really gotten over that. The bank several times even though it was bank error on 1fbusa part would refuse to reduce interest rate after a representative make a mistake is calculation payments. I really feel like anyone who works there has sold they’re souls. It’s just a shameful at some of things I have seen while I worked there. Thanks for reading.
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