I want to nominate SunTrust Bank for the Lemon Award for their deceptive and unfair practices. The bank sends customers a "skip-a-payment" offer "due to their excellent payment history" at Christmas and other times that most people have extra bills to pay,
with a "Merry Christmas, Happy New Year,etc with this "gift of extra money in your pocket" . It sounds good to the consumer,but made our balance go from $l78,000 to over $l83,000 in a few months. The original loan amount had been $l82,000. All payments were made on time, bank said balance went up because it was a balloon note and interest wasn't being satisfied due to the skipped payments they had given. They said these offers weren't really good for customers.The bank knew it was a balloon note, so why offer this to someone knowing their balance will go up? Guess it's a good way for the bank to steal from their customers and a good reason for them to receive the "lemon award". Thyank you
CreditCard.org is still collecting Lemon Award Nominations for Bad Banking. Send them to Problems@CreditCard.org . Award recipients will be publicized October 31, 2006 .
CreditCard.org is a site that helps people to drill down on credit issues by archiving answers to every problem submitted. Common problems can be searched and credit pitfalls can be sidestepped. Asking CreditCard.org will always be FREE. Contact them at problems@Credit Card.org