First National Bank - First National Bank - Promotional APR to new customers scam

Posted on Wednesday, July 6th, 2005 at 12:00am CDT by 012a7007

Company: First National Bank

Category: Business, Finances

A few months ago, I do not remember exactly but it must be about 3 or 4, I received an offer from First National Bank, (their address is PO BOX 2951, Omaha, NE 68103-2951) to receive a promotional APR of 0% until January 2006. I transferred about $15,000.00 from another account, and paid a fee to do the transfer. Back in May, I received my statement and, in the same space they use to advertise and sell services ( such as debt cancellation insurance, etc) they “sent me” a message (which I could have easily missed, since they wrote it in the section noted above and did not do any effort to make it more noticeable (bold perhaps?). The message read as follows: Effective with your next billing cycle, your rate will increase per the terms of your Cardmember Agreement. Your Non-Preferred/ Penalty Rate for purchases will be a variable rate equal to the greater of 23.99% or 22% over the index rate. The current **Annual Percentage Rate ** is 25.08%. Your Non-Preferred/Penalty rate for cash advances will be a variable rate equal to the greater of 23.99% or 22% over the Index Rate. The current **Annual Percentage Rate ** is 25.08% I called First National Bank to inquire about this and they said that because of a negative remark on my credit report, they had to increase my APR. Now, my credit is impeccable and I immediately contacted the credit reporting agencies. Turns out that the “negative remark” was a late payment of 30 days on one of my credit cards. I have been trying to fix this because during that month of my late payment, there was a hurricane that passed through Florida and we had a state of emergency in the state. But that is not the problem. The problem is that this remark was about 6 months before I opened my account with First National Bank and way before THEY sent me the offer for the promotional APR. You would imagine if this “negative remark”was such an important issue for them, they would not have given me $15,000 of credit an would have NEVER offered me a promotional APR Do you see a problem here? I do, and I also see a sleazy way to get new customers to transfer balances to them, and them slap them with an insane APR (c’mon 23.99% ! give me a beak!)


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d377c3b4, 2007-09-13, 08:18AM CDT

First National Bank of Omaha scammed me also. I called and inquired about a balance transfer. They told me a fair rate and a $99 fee which I agreed to. I needed the checks to go to three different companies. Well, when I got my statement, they charged me $99 for each check for a total over charge of $297 and an annual APR of 27.66%. I have a line of credit that I could have used for 8.5%. I was shocked when I received the bill.

When I called them to complain, they refused to remove the $198.00 of fraudulent fees. A manager also told me that it didn't matter what the person told me on the phone, because even if they told me wrong, I am bound to my card holder agreement (which seems to change monthly). I'm in the process of filing a complaint with the Office of the Comptroller of the Currency, Customer Service Assistance Group, 1301 McKinney St., Suite 3450, Huston, TX 77010-9050, 713-336-4301 (fax).

8379a269, 2008-01-30, 05:55PM CST

On 1/30/08 around 2pm, I was waiting in line at the First National Bank on 86th & Cass. I witnessed something that disturbed me greatly! An elderly woman with a large bruise on her face had made her way to the bank with a complaint that she could not access her funds for her grandson's college tuition. Her trip to the bank was obviously one that was difficult for her to make and a second trip would have seemed impossible. She needed help, but was met with the phrase, "It's our policy...we cannot help you..." She needed help, but instead turned away frustrated, disappointed and feeling hopeless. She went to the bank on this cold day for answers, but was only met with a cold shoulder. There were 4 YOUNG people assisting her, yet no one could help her. Why did this happen? She didn't look like a scam artist or a thief to me! I was quickly reminded of that commercial First National Bank has out that says, "your more than a number". Not this time. Not for this lady. She was an individual and her situation should have never fallen under the "it's our policy" speech! The last thing I heard her say was, "I used to like you guys here, but now, it's situations like this that make me not want to have my money here." The young girl who acted like she was the know-it-all just shrugged her shoulders apathetically. Probably relieved she didn't have to go out of her way to help another number. My family has a great deal of money. I am thankful to have been born into such privilege. But, one thing my grandparents, Gail & Harry Koch (maybe you know them) taught me is to treat people with respect. I don't know if that poor old woman will keep her money with FNB, she probably will since she is too old now to change it. But, as for me, I'll look somewhere else to bank for now. Hopefully someone who cares will research this date, time & situation to find out what can be done for the elderly lady with the large bruise on her face. I pray she finds some peace tonight as she tries to sleep through her worries.


Kasey Joyce

2f63dd8e, 2009-11-04, 06:17PM CST

I called a first National Bank of Omaha rep to cancel my card after a notification of rate increase. The rep said "Do you want to cancel your acct and waive your rewards benefit?" I said yes and then after thinking about it, I asked if there was another option to get my money. He said, no, my account was already closed. The implication was I would lose my reward by closing the account.After arguing with a supervisor, I was promised the refund. I was unable to find any place on my statement listing my accrued refund amount.

cb2922c8, 2013-04-12, 02:55PM CDT

First National Bank is a Predatory Credit Lender

DO NOT apply for credit from First National bank!!

Their credit cards are marketed as a PREDATORY LENDING scheme specifically for people who are deemed to have poor credit or might not be able to pay off their debts.

I found several reports so far which all indicate a pattern of refusing credit to people with good credit while using LOAN SHARKING tactics on the people who have been approved.

They also appear to specialize in "secured credit"; That's when they force the applicant to pay a large sum of money so that they can borrow their own money whenever they use their credit card - and oh yeah they have to pay the same interest rates and fees for borrowing their own money!

Others have repeatedly complained that First National Bank Visa and Mastercard immediately jacks up the interest rates for their credit cards to 30% or more without notice, knowing full well that the victim of their loan sharking scam will not be able to pay off the entire balance and will have to get into a never-ending cycle of debt at 30%. (or higher!)

Now I realize why the respondent here immediately posted on the reports in question saying that "all credit cards do that". Um, no I have 2 credit cards and have never been exposed to these disgusting loan sharking tactics.

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