The most trusted and popular consumer complaints website
Explore your opportunities! Create an account or Sign In

First Equity Card / Deceptive

1 United States Review updated:
Contact information:

To anyone out there who has dealt with First Equity Credit Card bank, I pity you. Their practices are deceptive almost to the point of criminal. I was accepted an offer for a card from First Equity at 12% apr. When I received the card the apr was 23%. I decided to keep the card for emergencies only, and whenever I have used it I paid off the balance in full. We'll today I got a letter stating my account agreement was now being changed, that my rate was now 26% and on top of that I was to pay a annual fee of $39. Next it goes up to $49! I asked why my agreement was being changed when I have never been late or never have gone over my limit. Their totally sarcastic customer service rep said they could do whatever they wanted as long as it stayed just below the legal apr rate and that I could cancel my account but would have to make all my payments at the higher rate. I have contacted the states attorney general and have hired a legal counsel to try to get a class action against this company. In the meantime I know there are thousands of blogs about how deceptive to the point of criminal this company is, and now there is more voice to be heard.

Sort by: UpDate | Rating


  • Fi
      6th of Feb, 2009
    0 Votes

    I did the same thing and got a 20% interest rate and decided to keep it for emergencies as well. During a promotion from a different business credit card company for 0% interest/12 months I decided to go ahead. The credit card company made the transfer but First Equity messed up the transaction, charged me fees, put a hold on my account and now has reduced my credit limit and will not allow me to speak to the department that did this to see if they affected my credit negatively. I am, as soon as possible paying off this account and closing it.

    Buyer beware of First Equity business practices.

  • Ke
      3rd of Apr, 2009
    0 Votes

    First Equity Card is anti-business, and should be renamed "First In-Equity Card." We had an account in "excellent standing" for three years, when we first started using "convenience checks" provided by First Equity Cards, and both bounced, even with more than a sufficient balance on the account. When we inquired at their "Customer Dis-Service Department, "after having been embarrassed by their uncalled-for action, causing us great harm, we were advised that the account had been closed because of "inactivity" which is ludicrous, as the account had been active every month of the three years we used same, and payments were made in advance of their each due date.

    Calls and letters to their "Dis-Service Department, " their CEO Timothy Clarke, and the CEO of its parent, Stephen Melton of Columbus Bank and Trust, as well as to a VP by the name of Tirendy, were fruitless, the account stays closed.

    Their actions are perfidious and truly anti-business. We are in the process of filing complaints with the regulatory agencies, and the BBB, hoping to get relief for our cause, and for other customers who have been mistreated.

    First Equity Cards treats its customers with arrogance, ignorance and in an elitist manner, a very shoddy PR job, to say the least. How can they stay in business?

Post your comment