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[favian]

I filed a complaint on the FTC's website and was surprised to read the result below

"Complaint Submitted. Thank you for contacting the FTC. Your complaint has been entered into Consumer Sentinel, a secure online database available to thousands of civil and criminal law enforcement agencies worldwide."

Below is my complaint and I am miffed that their automatic reply,above, was that they weren't going to do anything. What can I do about the following situation? There are going to be a lot of people damaged by this......

The main reason for my complaint is due to what I believe is a deceptive act or practice (of a bank).

I utilized their offer of a balance transfer with 0% interest, with the $55 fee, and it seemed reasonable to me. But what did not seem reasonable while I was awaiting their first statement was that I received an envelope with no sender printed anywhere on the envelope, only an address. The envelope almost got thrown away because it appeared very much like what most junk mail looks like. However, next to my name and address was written "Your statement is enclosed," so luckily, I opened the envelope surprised to see that it was a statement from BankAmericard Visa Signature.

I read on an FTC website that an act or practice is deceptive where an "omission, or practice misleads or is likely to mislead the consumer, a consumer’s interpretation of the representation,
omission, or practice is considered reasonable under the circumstances; and the misleading representation, omission, or practice is material."

It is an established practice of credit card companies today, to not only impose a late fee if a payment is not received, but to also impose upon the borrower a penalty interest which can be as high as 25% or more.

I can only speak for myself. I was lucky to have noticed the writing on the envelope "Your statement is enclosed." But I have reason to believe that a great number of people who have accepted this recent offer from BankAmericard, when they received the envelope with no identified sender, simply tossed it, unopened and are now, unfairly being subjected to late fees and more grievous still, have lost the 0% interest offer and are being charged the loan shark like penalty interests of up to 25% or more.

Please make Bank of America BankAmericard repay all who have been charged late fees due to being improperly noticed of BoA's statement. Cause the bank to restore the 0% interest rate in their original offer and refund any interest charged the consumer.

[karlitis]

Always open your junk mail.
Sometimes you get a self addressed stamped envelope so they can get the information back.
When that happens tear up the paperwork, stuff that envelope, and send their trash back to them. (you will also be helping the post office make money)

Once in a great while you can find a dollar bill in the junk mail or other goodies.

[dacy17]

Your requirement to pay the account is NOT reliant upon their sending you ANY statement. It is in fact not uncommon for banks to send such statements without a return address, to limit the likelihood that the document will be stolen for identity theft reasons.

So in short: your account agreement says that they do not HAVE to mail a statement, they DID mail you a statement, and you're responsible for the payment and interest on the account. There IS no deceptive marketing involved.

In any event, the FTC has not said they will not investigate, they merely acknowledged receipt of the complaint.