Tribute Mastercard review: Card Closure 40

I just received the same news as I logged into my account online only to find my credit limit was defined as $0.00 and my available credit as $0.00. When I e-mailed customer service this was the response...

We understand how concerned you would be regarding this. Our records indicate your credit limit is $600.00. However, we are sorry to inform you that your credit card program has been discontinued. An account management decision was made to close all existing accounts. Effective immediately your account is closed to new purchases and you will not be able to continue to use your account. Therefore, your available line of credit is $0.00.

A letter has be sent to notify you that your credit card program has been discontinued. (Which I have not received yet.)

I have not missed ANY payments the entire time I have had the card and in fact I received an credit limit increase about a year ago.

A quick Google search shows that they have had issues with FDIC and FTC with the way that they conduct business. An article from last year says that they were ordered to pay restitution for withholding important details and blindsiding them with fees.

I have not run my credit yet but can only image the impact. It's probably for the best to quit doing business with such a shady company.

I too just found out that my $2000 limit was reduced to $0 for no reason. I have never missed a payment (pay before due date), always paid 2-3x the minimum payment, have never been over my limit. I am responsible, as my balance was only 10% of my limit! Yes, I am livid too! Yes, the reduction in "available credit" will negatively affect our scores. Soooo unfair. My credit score was finally reflecting a fair to good score. It will now tank again, no fault of mine.

Same here. Just received the letter in the mail. Checked the account and saw the same $0.
I wonder what can be done?

I too am frustrated. I looked at my account last night as I was going to do some online shopping and saw that my credit was 0.00. I was in shock. I thought it was just a mistake. I immediately called them and got a women in India reading me the, "I am sorry, but all accounts have been closed" statement. I told her I always paid early, paid extra and was never at my credit limit. She advised me again she was sorry, but all accounts were closed and that I would be receiving a letter in the mail. I have not received anything in the mail yet. I am hoping a class action lawsuit is started against them. I think they legally should have to advise you before they actually close our accounts. I just made a large payment and was planning on purchasing a new tv on that credit card! Not good customer service. They expect timely payments and they charge quite a lot in annually fees, monthly fees, and online payment fees the least they could do was give us some common courtesy.

i totally agree, it happened to me too! i have had and Imagine CC for 4 years never missed a paymant. recieved a new Tribute Card and was informed that everthing would be the same just had to call and activate the new card. Went online only to find out i have $0.00 credit limit so i emailed them and in return get the same exact wording as CTinNC above. this is not right we need to file a class action law suit.

Well, I have to agree with all above! Tribute is worthless! I also spoke with ...customer service...ehum!, and all she could say was the MasterCard Accounts were being closed. Over and over thats all I was told? It's a shame to have your credit built up with your hard earned pay, only to have a company steal your money with no worry to legality. Funny I was hassled into restarting my card and was stupid enough to do it. I really started to think positive of Tribute but they have shown their TRUE COLORS - THEY ARE NOTHING BUT THIEF'S!. Sorry to all who are in the same boat with me. Good Luck and I hope a law suit is in the future too...MTice.

also, never received a letter. Only notice was my card declining at a sale. Go figure...

Here's something fun to do (because after all, even if you got screwed, you should still look for something fun to make of it). Google search Tribute MasterCard, go to the blogs, copy the complaints, and then go to your account and paste it in the Contact Us section. Do it repeatedly. Early and often. It doesn't matter if they get it or not. They probably won't, as the people who made this decision don't have to worry about such mundane things as paying their light bill. But it will overload their system and it will be fun. Oh, and don't pay your outstanding bill either. Let them eat it. First Bank of Delaware stock was trading at $1.46 today, down from over $15 less than six months ago. Together, we can bury the ###. But we can only do it if we stick together.

I got the letter today! Have never missed a payment and always been good standing with it... I am very livid that this can affect my credit score, since I still have a balance due and now my credit is all gone.. There has to be something or someone to bring this to? I mean they cannot just DO this..can they?

I had the same experience today, I even received an increase in my limit for the 9th time in 1 year last month. I have just finished filing a complaint with the FTC. Hope this goes some place.

I just received the exact same letter after two weeks ago receiving a new card as my previous card was about to expire.

What gets me is that in this letter it is clearly stated that we can longer charge on this account and even though we can not make any new transactions on this acount they are still charging us a monthly maintenance fee. This company bailed on us, the interest they receive should be enough. If they are closing accounts because of their business pratice why should we the consumer suffer with no prior warning but they get rewarded by still charging a monthly fee on our cards.

Any suggestions as to the legalities of this fee if they are being charged with bad business practice by the FDICand FTC?

I to agree! I called the other day to find out what my available credit was to find out a zero available credit. Well i just sent a big payment off Friday, and have always sent more than the minimum required and always on time, and never have gone over or been late. I received a letter today saying that my account was already CLOSED and NO FURTHER CHARGES would be accepted. I called customer service to get an csr who just kept saying that it wasn't a decision based on my credit history but a management decision. When asked if they would send us some other kind of card to keep our credit in good standing she said no and that they were sorry. WHAT BULL!

I too am in the same situation as everyone else who has posted...However, no one has addressed the "annual fee" which is different from the monthly maintenance fee. On my current statement, I was charged $75.00 Annual Fee in addition to the $10.00 monthly maintenance fee. This is SOOOO WRONG! This is not the first but the third time I've been hit with this charge as they have changed my account and issued three "new account numbers" and cards over the last two months! I will continue to pay my bill for that which I charged to the account but I WILL NOT pay these charges, totaling $225.00. I have worked diligently to maintain this account, paying on time, paying more than the minimum due and not exceeding my credit limit. I intend to contact the Attorney General of my state to report this action. If Tribute is charging every account holder $75.00 (repeatedly), this equates to no less than ROBBERY and think how much money they are making! I would like to know if everyone else has been charged these fees, as well? If so, we all need to unite in refusing to pay these charges and reporting Tribute to every state and federal agency possible. Also, I intend to write the three main credit bureaus so there is documentation of this action taken by TRIBUTE, in an effort to maintain my good credit rating.

Same boat as everyone else - never missed a payment or made a late payment, and boom! No card and who knows how many lost points on the credit scores I've been busting you-know-what to repair. Angry doesn't cut it. Yes, I'm filing complaint today with the FTC, but I want to know who is starting the class action suit. They must pay.

I have had the same experience and did receive the letter on Monday. I'm quite puzzled as to why they went through the trouble of switching the accounts and issuing new cards to just close the accounts. I only opened this account to re-establish my credit after a financially devastating divorce. Now, when my score is finally starting to improve, they close the account. The customer service supervisor I spoke with stated that "we do not view this account closure negatively, but cannot say how this will impact your credit score". Thanks a lot. Another issue I've had with this whole process is that the company did not inform people of the changes before they were implemented. The Bank of Delaware is the epitome of poor service and ethics.

This is not just happening with tribute. It is happening across the board. I HAD good credit and ALL my cards were defaulted/closed, etc. without reason. Credit line cuts to below balance owed in order to cause over the limit fees. I mean its insane and NO ONE has ever explained to me WHY this is happening. If these types of situations continue with these corrupt banks we are going to see the next big bubble bust. I'm soooooo mad about the way I have been treated by tribute, shell, chevron, chase, etc. You work hard to attain/maintain good credit, only to have it destroyed by a simple key stroke by ### megabanks. Why bother anymore, pay cash and screw the credit card companies.

I too received my letter yesterday. Same boat as everyone else - recover my credit. I have had my account with these people for 3 years and have paid every single payment right on time with automatic payments from my checking account. I called them today to cancel the automated payments and also called my bank to advise them (because I don't trust this bank) but, my bank said they can't do anything until or unless a payment is actually paid. I called First Bank of Delaware - found out the agent is located in either Brazil or Colombia. You are very lucky if you get to speak to an english speaking agent. I did get the agents name and employee number (who knows how much that will help me) I asked if this was going to effect my credit score and was told "no". But, won't it be listed as account closed and balance owed? I am disgusted.

Ditto, ditto. Me too! Got the letter. On Tributes website, it states to call thier 800# on the back of the card to remove automatic payments. My son has that same problem. NEVER set up automatic payments in my book. Too many problems. I am going to file complaints myself with any agency I can find. I will fight over any charges added to my account after the date they closed it. If everyone who owed, skipped their payment, do you think they would take a better look at what they did to us the consumer? LOL about pasting the comments to their page. Just think, if NO ONE paid what then? " Consumers Take Stand Against Credit Card Companies" good headline.

I to have a card with them and I just got the news a week ago! This company is a scam! This is my 3rd credit card yes 3 that I have had that closed my account because they discountinued the program! If you look on your bill when they close your acct they charge you a $10 dollar transfer fee, even though its not your fault for the acct closing! I just started noticing that all 3 of my cards are from the same place! Its MYASPIRE CARd, MY SALUTE CARD, and Now MY TRIBUTECARD.. I dont know how I didnt catch on to this! Make Sure You pay attention to your bill!

I am pissed.

I'm going through the same thing. I'm so mad, but this happened to me with the Salute card, which is also part of the same company. They use the same address and everything. I have never missed a payment. I believe this is fraud. I hope everyone is reporting them to the BBB, if you have not, please do so http://www.bbs.org I sent Tribute an email, letting them know, I will not be paying for annual fees or any other fees. I will pay for what I have charged, which is basically nothing. PLEASE REPORT THESE PEOPLE, SO HOPEFULLU SOMETHING CAN BE DONE... http://www.bbb.org

File your complaint with the FTC also http://www.FTC.gov

Hey everybody-I just received my bill from Tribute MC and low and behold was the charge for their annual fee. Mine was $100- don't know what everybody else's is. Now they have given a credit of $25.00. In Aug or last part of July I got a credit limit to $1000, now I have been limited to $881.00. Isn't that some weird amount and I have until Oct 8th -i believe to spend the remaining amount up to my credit limit. I have looked for 2 class action attorneys and I will contact them on Monday and see if there is a go for a legit case against Tribute Mastercard regarding the annual fee . Oh I also received along with the billing statement a notice from FIRST BANK OF DELAWARE Privacy policies for customers. Now get this one -it states in black and white "YOUR TRUST IS THE CORNERSTONE OF OUR RELATIONSHIP". lol !
Contact me regarding the lawsuit: candyh6@yahoo.com Put in the subject matter as Tribute so I don't spam it.
Thanks,
Candice Hopkins

Same here... Never missed a payment, payed over minimum etc... They say they are going to continue to charge a maintenance fee of $10 month and I think it also said the annual fee will also be charged.
Well Guess what?, If my credit is going in the tank anyway, I am not going to give them one more red cent of my hard earned money. I wish everyone would do it, we could make a real impact on them that way. I just got charged a $150 annual fee of which they refund me $50 of every year. BIG DEAL! The yearly fee was just charged to my account in July. You can't tell me they didn't know that this was coming up. Out of my $500 balance(incidentally, they just raised my credit line to $850, also in July) I figure I have paid for any charges I made anyway. Fair is fair!

I too was shocked and disappointed to find out that my account was going to be closed due to no fault of my own! I was assured that I was a valued customer and it had nothing to do with my payment history, as I have always paid on time and my payment amounts always exceeded the minimum payment. I have seen the affect that this has already had on my credit score that was progressively getting better but has now gone down drastically. So unfair, it almost makes me not want to pay the remaining balance since it has already negatively affected my score!

Pay them down and move on, it is definitely a class action suit that SOME attorney should be dying to get a few thousand people on board, then every body can get their money back. I had one of their cards years ago/2 yrs. I hated the way they operated with the 6th grade website and the fees and all. I guess I got lucky by canceling that card.

I am very sorry for all, but we MUST lift our heads up and smile at the world as it is just a stop in our true spiritual life. Peace.

LuLou

Just as everyone on this forum I am upset. I had a limit of $1150 paying my balance off each month on time; typically early. It showed on my horrible credit as a positive account. I have been working very hard to rebuild my credit from a serious illness... My credit score finally went up a few points and now is back down. I have NO idea what to do now! I just paid my annual fee and I want it back. I paid it for the whole year! Not just a couple months! I got NO warning just a letter in the mail. I had to call to find out that ALL cards were being cancelled. I just paid my balance off but they still charged me $6 for the month's Monthly Fee... So I have to pay them $6 for closing my account? WTF? I will pay it so I don't get another ding on my credit report, but I want my $150 annual fee and $6 Monthly Fee BACK! It's only fair! I want to know EVERY possible avenue of complaint! If they had to go out of business we as consumers should have been given a warning; and all our fees waived and/or reimbursed! I seriously hope a class action lawsuit is filed!

I am in the same boat. However, I had just got my score to a point where I could buy a home. We did a contract on the home we wanted (luckily we put in contingent on financing) and when we applied my credit score had dropped 34 points. When I reviewed my credit report is when I discovered that they had closed and dropped my credit limit to "0". Needless to say we were declined the loan based on this action. I am going to pay it off because that is the only chance I have to raise my score again. However, I think there should diffinently by reprecations that the company should have to pay and absolutely reimburse annual and monthly fees.

DITTO! OK, now it's time to do something about this "predatory lending" that has been so PROFITABLE to the Republicans of this country, the 1% who continue to use and abuse our money without any ramifications!
The Better Business Bureau is a good start, however, let's consider going to the source...FIRST BANK OF DELAWARE who issued your Tribute Card and is still "very much in business."
The amazing scenario is that these people actually believe that you should CONITNUE TO PAY YOUR BALANCE ON TIME, AND EVEN WANT TO SECURE THE PAYMENT BY OFFERING 'AUTOMATIC WITHDRAWAL FROM YOUR BANKING ACCOUNT." P L E A S E D O N ' T sign up for this option as they will just continue to "RAPE" you over and over again! Revolt...don't pay them an additional dime until they restart your credit, give you back your "good name" and repay you for your losses!
My husband lost his job here in Tennessee because of a "slime" that believes rather than keep his faithful and hard working employees, he used the 'recession' to have an excuse to rid himself of the 'payroll'. We were using that credit card for temporary housing in another state where he gained employment. Now WHAT are we supposed to do?

Also, if you were issued a new credit card from Tribute within the last six months, please check your credit report as it is being shown as an additional line of credit which lowers your credit score. This happened to us. We received a card in the mail with the same terms, however, it was a different account number. It is now showing that we have TWO credit cards from Tribute with the very same credit limit amount but NO available credit which is being considered "high risk" as they define this as 'NEW CREDIT CARDS...EXCESSIVE CREDIT CARDS...NEW CREDIT APPLIED FOR...AND, THE CLINCHER...OVER THE LIMIT OF CREDIT ISSUED WITH NO APPARENT CREDIT AVAILABLE.

Here you go i just email them got thing off my chest
http://www.fbdel.com/pgsGen/default.asp

There is hope for all of you... the FDIC filed a suit against them for illealge charges, we all fell victim to this, so they breached thier contract with us first, we also paid fees for increase in credit, which they took away, so we paid for a product that we can not enjoy... its differet if they extend credit at no extra charge. so simply file an action against them in your local small claims court, for a juudgememt equal to the amount of fee you paid for the entire contract. after all the contract is null and void if they breached it. you have to pay for the purchases you made. when you win, simply deduct the judgement from your balance and pay them off the rest. YOU WON!

I had canceled this card more than 7 months ago. They sent me a letter of Notice of Pending Charge-off. They did not cancel the card and over $30.00 dollars I have service charges that added up in the $8oo.00 range. Thank you for your advice with the FDIC.
I am not going to let them get away with this!

Our firm is contemplating filing a class action against Tribute for its unfair business practices.
Please contact us to discuss:

Makarem & Associates
11601 Wilshire Blvd., Suite 2440
Los Angeles, CA 90025
Ph: [protected]

I also have a complaint about Tribute. I had it set up for automatic payments of $40/mo and with interest and monthly fees the principle only goes down by $10 each month. now they tell me they can only take $30/mo and I have to make a second payment to pay it down and I only owe $139. It is either do it that way or pay it off with no in-between amounts. I called and talked to a manager and made arrangements for them to take three more payments of $40 with no fees so that I can pay it off. I have had nothing but problems ever since I started with Imagine and I am on a fixed income.

I got a letter from tribute mastercard saying they were involved in a lawsuit and they had to pay everyone money as per the settlement, they said they owed me $490.00, my account is closed they took me to court because I owed them some money, they never showed up, the judgement was entered in my favor, my balance went to zero, then I called them and they said the $490.00 would be taken off my balance owed, I have no balance, I faxed them all the paperwork from court, I mailed them all the paperwork, and I made numerous phone calls to them, how do we get our money?

please please please I cannot beg you enough, all of you please report CompuCredit and Jefferson Capital to the FTC. Both CompuCredit and Jefferson Capital Systems were involved in a legal suit by the FTC and they lost. The final order was filed December 2008, immediately following the judgment of $100+ million the discontinued all accounts and continued with deceptive actions against account holders by charging unexplainable fees. CompuCredit owns Tribute, CompuCredit owns Jefferson Capital the collection company for Tribute. They went in business together to immediately screw fellow American citizens such as ourselves who unfortunately had bad credit. What they are doing now is despicable and in violation of the court order. I used to have an account a couple years ago, the charged fees that put me over. I had a $300 limit with only $140 principal charged, now they are trying to sue me for $1400, ridiculous. If all of us file a complaint it will help every single one of us to beat these phonies at their own game. Don't wait to report, do it now http://www.ftc.gov

They are taking about $30.00 to $40.00 out of each payment, WTF we can even use the card but yet there are still charging interest? this a email I got from them:

Thank you for the opportunity to serve you. This email is in response to your recent inquiry.

We understand your concern regarding the balance. As per statement dated 11/03/2009, your ending balance was $1, 155.89. Our records indicate a monthly account maintenance fee of $9.95 was charged to your account on 11/06/2009 and we have received your online payment of $100.00 on 11/30/2009 and you have been assessed with a web payment fee of $9.95 on 11/30/2009.

Also, our records indicate a purchase finance fee of $24.29 was charged to your account on 12/03/2009 and a CardSafe fee of $10.65 was charged to the account on 12/03/2009. Whenever there is an existing balance, there is a charge that will be assessed from the date of the transaction. This charge will accrue if the balance is not paid in full by the due date. Finance charges on cash advance transactions accrue daily. To avoid being assessed finance charges, a payment for the full amount must post by your due date. Therefore, the ending balance as per statement dated 12/03/2009 was $1, 110.73.

Our records indicate a monthly account maintenance fee of $9.95 was charged to your account on 12/07/2009. Therefore, the current balance on the account is $1, 120.68. Your account balance is composed of your principle balance (purchases), finance charges (purchase, cash advance) and any applicable fees (late, over-the-limit, annual, etc.). Reasons that you might not see a large reduction in your account balance could be, but is not limited to, only paying the required minimum payment, not paying the minimum payment, or missing payments. Payments are disbursed by finance charges, fees and principal balance. In order to reduce your balance significantly, you will need to make payments larger than the required minimum and made on time each month. This will also reduce the monthly finance charges, amount of the required minimum payment and apply more of the payment towards the principal balance.

HOW THE HELL THEY KEEP CHARGING THIS:

maintenance fee of $9.95 = FOR WHAT? ACCOUNT CLOSED!

web payment fee of $9.95 = REALLY? YOU GOING TO CHARGING ME $10 TO PAY YOU

CardSafe fee of $10.65 = WTH I NEED FRAUD PROTECTION FOR NOW? IF I CAN'T USE, I'M PRETTY SURE A THIEF CAN'T EITHER!

These jerks have just raised the online payment fee to $9.95! Luckily it's easy to get around this with bill pay, but, still. This is REDICULOUS! So, if someone has to pay online and doesn't use bill pay or write checks, etc.. then they will be paying $9.95 online fee + the stupid $10 a month maintenance fee (what ARE they doing... we aren't getting service with the account!). $19.95 a month x 12 months... that's about $240 they are ripping off of customers! This gets me so angry!

Yes they closed my account also. I had a imagine card that tribute bought out and then closed my account. All this happened in a one month period. Ticked off.

I had a Tribute card and it was closed, my problem is that they are still charging fees and i cant see any my past or current statements. i dont know how many other things they are charging...taxation without representation.