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Digital Federal Credit Union / Cancelled Visa Card

1 MA, United States Review updated:
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Thought I had a great relationship with this credit union. Had a visa card, 6000.00 limit. Card almost full but NEVER late with one payment. NEVER. In addition my account there which I maintained for the past 4 years was in good standing. In addition over the past couple of years they increased my credit limit and lowered my interest rates to around 8%. 3 days ago they cancel my credit card. Their reasoning is that they reviewed my credit rating and it had decreased. Really. You just cancel it. not raise my interest, not lower my available credit. Just cancel it. I called to speak to the representatives with no concern about this. In addition by cancelling my card they have done damage to my credit report that will take years to repair. Thanks DCU. Currently shopping for a new credit union or bank.

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Comments

  • Ro
      11th of Feb, 2010

    They did this to me too, I pulled my credit and score and have had no such negative change to speak of. I wrote a long letter and included pay stubs and my credit report and I'm fighting it. I was told on the phone that decisions are final but the branch manager said they will review some accounts if there are grounds for it. I'm also paying it in FULL before the cancellation so it won't kill my credit as bad. If they don't re-open my account i'll be ditching them.

    I currently have a car loan with them that is paid 3 months in advance and have had other consumer loans with them that were paid in full. I would love to know how many were cancelled.

    Good Luck to you.

    0 Votes
  • Ap
      13th of Mar, 2010

    Same thing happened to me, my score tanked as a result, and the kicker is: my Visa Gold card only had a $3, 000 limit, I used it regularly and carried a balance for the most part. So they were making money from me. I've been with them for 6 years, and had all of my direct deposit going to my checking account with them. I'm almost complete moving everything out of DCU to another institution. They did this to A LOT of their members. People are reporting this on many sites. Here is one:

    http://creditboards.com/forums/index.php?showtopic=426595&hl=digital+federal

    This was not a good decision for DCU. The money they think they will save will be nothing compared to all the business they are loosing, and the "risk" they believe they are protecting themselves from. What goes around comes around DCU!

    0 Votes
  • Un
      13th of Apr, 2011

    I've had a similar bad experience with DCU. They didn't cancel the card or lower it or anything but I've had a platinum card with them for years and yesterday got this incredibly ugly blue card in the mail which had a different number. I called them thinking it was a mistake but lo and behold they told me they'd sent a letter in the MAIL almost a year ago letting me know that the platinum reward cards were being discontinued. I was told that if I wanted to continue being in the rewards program I could opt in at 3-4% higher interest otherwise I lose all the points I've been saving all these years. I almost had enough for a trip to Hawaii until they raised the amount of points you had to have and had been working towards that. I called them, they really don't care. They remind me more and more of a Bank of America branch than a credit union which is supposed to be working FOR their members. In response to my long and angry email I received a cold form letter. Really?! Gee thanks for the concern! I recently took out my first mortgage--with St. Mary's Credit Union which knows how to treat their members. We have 2 car loans with them as well, St. Mary's is doing well by us :D That business probably would've all gone to DCU had they known how to treat their members--their loss!

    0 Votes
  • Ma
      4th of Dec, 2012

    I was a member before it was a federal credit union - since 1975 -37 years. I went thru financially devastating divorce and took the credit card so I could cover my daughter's medical care. I got sucked into the Obama mortgage modification scam and my credit rating got trashed. DCU upped my rate from 7.5% to 18% and cancelled the card. I have been making and agreed upon monthly payment on the full balance and have been lied to repeatedly that they will reduce the rate over time as my credit rating improves. It has improved but they outright lied to me about lowering the rate. Based on my situation the reps knew all along that I would never qualify for a rate reduction of any amount, but they told me, assured me, I would. THAT IS LYING! Not sure how or where to file a complaint against their practices but I will, everywhere and everyplace that I can. Their deception has made my situation even worse, but I am recovering slowly. UNETHICAL and cruel.

    0 Votes

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