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US Bank is a despicable company, and cares very little for their customers. They will take advantage of the smallest opportunity to squeeze as much money from any customer, even if their act is not moral or unethical. It is disgusting that this company uses the name of the USA on their bank to sucker people in trusting them, and once new customers have signed, then it is like they have sold their souls to the devil.
Real US Bank story
Card Holder with Excellent Credit Rating gets a surprise letter indicating that the Bank has suddenly increased his Interest Rate to above 20% (Yes, try 29%), which was an increase from 9% or 11%, This was up to a 300% increase in interest rate. The card holder is informed in the letter that either he has to accept the increase on the $14,000+ balance, or refuse the change in terms. If it is refused, then the account will be closed. The cardholder refused the changes, and the account was closed, which meant the balance was kept on the card, but no new transactions could be made. The rate was changed back down later after consuming many, many hours of the card holder, and making the card holder extremely angry and frustrating him for at least a whole week. The card holder was a respected community member and extremely, extremely busy person even when compared to extremely busy people. Later, one day, he had to change checking accounts, and so he had to check on all his online payments and credit card statement, and he discovers in September that his interest rate was increased to 24% without his knowledge. He got furious. He contacts US Bank, and the bank refuses to reduce the rate, and blames the increase to a late payment back in December, which they said gave them the right to increase his rate, and he had to accept it. The card holder did not recall a late payment ever occurring, and suspected it was the fault of the bank or an honest occurrence. He finds out that they had increased his rate since February (several months ago), and he was not made aware of this, and since his monthly payments were automatic and already significantly higher than the pervious minimum and the new minimum, no problems occurred to cause a flag or a call to him. So, suddenly the card holder found himself back into a situation where they had increased his rate again, and they refused to take it back down. A US Bank representative told the card holder that they will be willing to reduce his rate once a year has passed. Card holder then speaks with the Supervisor, who tells him that he will NOT have his rate reduced even if a year goes by, and tuff if the card holder does not like, and the card holder was told that he should have read the agreement. As the card holder gets more angry, then Supervisor says that they will only reduce his rate to maybe 17 % or something if he sets up an automatic withdraw with them, otherwise they will not reduce his rate. In other words they terrorized him, and terrorized him and applied extortion techniques.
DO NOT ACCEPT US BANK CREDIT CARDS.
DO NOT OPEN A US BANK ACCOUNT.
CLOSE YOUR US BANK CREDIT CARD.
CLOSE YOUR US BANK CHECKING OR SAVINGS ACCOUNT, AND GO TO A DIFFERENT BANK WHERE
YOU WILL GET MORE FOR LESS.
US Bank is an untrustworthy company, and abuses their customers. The moment they can take advantage of you, then they will over and over again. They will apply as many fees as they can.
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