Juniper bank FutureTrust credit card

Juniper bank FutureTrust credit card

March 29, 2006

I accepted a credit card application from a Motherhood store and they told me how great this card was from Juniper Bank. The card was “FutureTrust”. One that paid into my child’s college education account for every dollar I spent. What I didn’t realize was the “Nazi” style regiment they apply to their payment schedule. I missed the first payment (working to get the on-line account up), and they charged me a $25 late fee for the $77 I put on the card. I called to get the fee waived, and they said “this is a valid fee, and we don’t wave fees unless there is a bank error”. So I closed the account, and paid the late fee. Apparently, I was late in paying the late fee by a couple days, so they added a second $25 fee on the first fee. Now I have paid $53 in fees for a $77 dollar charge. At this rate, it will take my several years of using their card to make up the fees I have paid. I guess the only “Future” they can “Trust” is their own by taking it out on the little guy. The part that hits the hardest is the fact that they want to help with my kid’s education, but they end up taking from it instead.

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This company is aweful....please see below letter I wrote to the president:

Lloyd Warshaw

President

Futuretrust Mastercard

P.O. Box 8885

Wilmington, DE. 19899

Dear Mr. Warshaw:

We have conducted business with your institution for the last three years. Upon opening a Futuretrust credit card in 2007, I was highly impressed with the 529 savings plan that was attached. We have one son whose future will certainly include college. Although the interest rate was high, I opted to keep it due to the wonderful college savings. Almost two years ago, we were able to pay this card almost completely off which was (with any loan payoff), quite an accomplishment. Unfortunately, in the latter part of 2008-2009 due to the economy, my husband�s deteriorating health (cancer of the esophagus), and more than a string of bad luck, our financial situation changed and we leaned on this card. All was well in the beginning of the 2009�s charges. We were even given a �relief� of a lower payment for 12months; a step that was initiated by your company. However, in September of 2009, I received a letter giving me an ultimatum of closing my account at 19%, or accepting a rate increase of almost 25%. I called to ask for the rate to be lowered and your CSR said there was nothing they could do to help and maybe I should �put the card in a debt consolidation plan.� I definitely had considered that option as the interest rate would be about 5%. However, at that time, I closed the account. Next, I noticed my minimum payment per month was putting me further in the hole. I called once again and received the same answer- nothing could be done. This month, I see my balance has increased by $6.00 since last month, all due to interest. I called your customer service again- twice and both times requested to speak to a CSR manager. Amazingly, no one was available and the only option was a 48 hour callback request. Is this a reputable card? Honestly, no one could help me with my issue? In all of the struggles we have endured in the past two years, I have NEVER been late on my payment. Additionally, in all of my experience with credit cards, I have NEVER experienced such poor customer service and run around as I have with this company. So far, your organization has received thousands of dollars in interest from this household. I have received $200.00 in a savings account, and additional stress added to my situation. Is this worth the advertized 529 plan? Absolutely not. Would you deal with a company that acts in this manner? I am willing to bet a Futuretrust Mastercard isn�t in your wallet. Your terms are unacceptable and I am willing to go to the lengths I have to in order to make a payoff possible.

At this time, I would like my interest rate to be lowered to an interest rate that is comparable to a bill consolidation of 5%. This will allow me to pay off the card and end our commitment. My account has been closed and I have ZERO intentions of ever doing business with your organization again. I expect to reach a solution to this matter immediately. I have forwarded this letter to the BBB and to distinguished credit conscious officials. I am looking forward to finding a resolution.

Thank you,