Fifth Third Bank / bank card scam!
Hellooo!! I have a 5/3rd debit/credit card with no overdraft protection of $500 because I have never used credit so I have no score. I have had this card for two years. When using this card you can choose credit or debit. Credit causes a lag of 24 to 48 or more hours before any items hit your account. Obviously debit takes it immediately. On a few occasions last year, my account balance would get down to say $10 after all transactions had cleared. This meant that if I used "credit" that day, it would allow me transactions over the $10. I would make a deposit the next day in the bank to cover what I had used on the card. The "pending" now established would not be calculated until midnight that evening or possibly the next. I never had a problem on those few occasions. Last week I had another such occasion where after all transactions I had $5 in this account. I spent $10 at 6pm after bank hours on "credit" and made a deposit the next day for $300 at noon in the bank. Two days later I looked at my statement on-line and I was charged $66 for two overdrafts? These were from the fact that I went $4.88 over on the $5 day. On Jan 1st 5/3 rd changed the policy on when the "pending" amount gets calculated causing an overdraft. THERE IS NO WINDOW WHEN USING CREDIT WITH THIS CARD INSTEAD OF DEBIT. I was told a notice was sent to me on my statements. That is fine and all if I looked at them, but of course I use my account on line. Well, I was notified and ignorance of the rule is no excuse... (so they say) FINE... but I should not have gotten 2 overdrafts. This is because they covered "in theory" the pendings and the larger amounts and once I was $4.88 over. They went back in the last few days and overdrafted the smallest purchases of $1.79 and $3.50 which were made when I had $50. "nice and tricky"... but my main complaint is that I am sure I am not the only one and... If this card allows you to go over your limit when you choose credit and don't know the new rule... THAT IS A SCAM. There is no lag... it's now a plain debit card and my card should have denied me for the $10 purchase when I only had $5. ( even though I selected the credit option.) On top of that, I got TWO overdrafts. I wonder how much $$ 5/3 made off of this little maneuver.
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