I know that most PF bloggers love PC Financial, and even though I am a huge fan of their no fee accounts and credit cards, I found myself in a heated discussion with them just a few weeks ago regarding some of their policies/practices.
Overlimit Fee $20
If you go over your credit limit, they charge you $20.
They don’t give you a separate notification of this, they just add it to your list of transactions. Of course, us PF bloggers always check our statements and would find a charge like this.
I called and disputed this.
No Credit Limit Cap
PC Financial Mastercard will not let you put a hard cap on your credit.
I requested they could put a hard cap on my limit as I did not want to go over it, and wanted to be notified when my cap has been reached. The representative I spoke with tried to do it and could not.
Isn’t it funny how they don’t allow you to put a hard cap on your credit limit, and yet they allow you to go over and simply charge you a $20 fee for going over?
2-3 Business Days to Process Payments
Usually, I don’t max out my credit card, but this was a first (I booked flights for my entire family). I transferred the money from my checking account right away so that I would have more credit to book subsequent hotels, etc., Unfortunately, my payment had not been processed yet and I would have to wait 2-3 business days.
It didn’t matter that the money had already left my checking account, PC could not process my payment faster. I asked if I could show them proof to move the process along, but no.
Credit Increase
I really wanted needed to use my credit card to book subsequent rental cars, hotels, etc., so I asked if PC could increase my credit limit. I didn’t need a big increase, I just need another $1,000 so I pay for other things while they were taking their sweet time processing my payment.
PC could not increase my credit limit since I had gone over my credit limit and my account was now locked. The only way to increase my credit limit was to allow them to run a credit check, first.
No. Way.
I told them that they could either process my payment faster or give me my credit increase that I was already pre-approved for, but I did not authorize them to run a credit check.
Conclusion
After speaking with three different representatives, I was able to get my Credit Limit Fee waived, as a courtesy (since I was not aware of it). PC agreed to credit it back to me the following month – however, I did have to call back to remind them. I wish they did it without me having to call, again.
There was nothing that I could do but wait for my payment to be processed. Boo. After all my payments went though, I called PC back to increase my credit limit, which they did.
Generally, I am happy with my PC Financial Mastercard, but there are bumps in the road, and this was certainly one of those times. So, just be careful about reaching or surpassing your credit limit because you will be penalized with a fee of $20!
Has anyone else had problems with PC Financial?
Cheers,
P.S. Are you following me on Twitter @fab_frugirl?
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