david72
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posted on July 11, 2002 02:08:05 PM
If anyone uses a nextcard credit card registered with Ebay like I do or any other business where you are automatically charged you will have to change it. The company totally collapased and most accounts were closed yesterday. A few accounts were sold to other credit card companies. I just received a letter in the mail from the FDIC today. What I find aggravating about it is the company has apparently been having severe fianacial problems for months and they don't even mention it to their customers in time to change their accounts. I guess it's just another example of increasingly poor corporate morals.
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Libra63
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posted on July 11, 2002 03:19:51 PM
yes david I have one also, but I don't use it for ebay or AW. Just to carry it around in case of an emergency. I agree. whey you get an email from them or call them they couldn't tell you anything. Well if they think I am paying them up they are mistaken although it is only a couple hundred dollars. They can just wait.
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sn0bbish
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posted on July 11, 2002 04:36:38 PM
wasnt nextcard bought by providian or was it always owned by providian.
i used to have a nextcard but cancelled it after experiencing theyre horrible customer service.
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caffeitalia
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posted on July 11, 2002 09:04:19 PM
Nextcard was from Nextbank which went out of business. I just received my letter as well. I didn't use them for anything important though, so it doesn't effect me anymore. If you have a card, they are telling you to cut it up into many little pieces. Did mine right away. I have plenty of other cards to use if I need them. Don't much, but I do have them for emergencies.
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Libra63
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posted on July 11, 2002 09:54:54 PM
I found their customer service very nice. It was easy to access their web site and I also called them on the phone. They would even generate an email when they received your payment. Do you get that with the major ones? I never have. I guess they must have gotten in to deep in the beginning and couldn't get out. To bad.....
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sn0bbish
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posted on July 11, 2002 10:26:49 PM
i received a letter from them today about this very thing.
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tomwiii
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posted on July 12, 2002 03:50:58 AM
http://www.nextbank.com/
NTM:
http://www.fdic.gov/news/news/press/2002/pr8302.html
[ edited by tomwiii on Jul 12, 2002 03:52 AM ]
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profe51
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posted on July 12, 2002 05:15:41 AM
CNET reports that the FDIC seized their operations in February, you mean you weren't notified of that then??
[ edited by profe51 on Jul 12, 2002 05:16 AM ]
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sn0bbish
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posted on July 12, 2002 06:43:51 AM
no. this is the 1st i had heard anything of it. then i got a letter from nextcard about it yesterday.
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Libra63
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posted on July 12, 2002 07:14:51 AM
Next Card Credit Card holders received a notice, and I can't remember the date, that the card was in receivership. Someone posted that in here and I can't find it. So it wasn't a surprise to me. The only thing we didn't know was when it would go under or if it would. They never kept us updated on that.
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JWPC
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posted on July 12, 2002 08:07:59 AM
Personally, I never heard of the card.
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marcn
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posted on July 12, 2002 08:09:55 AM
I also received the email and a letter from the FDIC yesterday. I have a $600 credit in my account so I hope I see it some day!
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david72
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posted on July 12, 2002 09:58:20 AM
The FDIC letter was the first I had heard about it. I also had some some reward points left on the card with Amazon. I suppose nothing will ever come of the points.
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rarriffle
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posted on July 14, 2002 08:50:40 AM
marcn, why would you have a credit balance on a credit card? were using it as a bank account?
I have been using my card for 2 years and have not received any notification at all. I just received my regular monthly bill which said nothing.
Logged onto my Nextcard account and everything looked as usual.
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marcn
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posted on July 14, 2002 01:42:53 PM
The reason I had a balance is that I filed a chargeback and the money was recovered to the tune of $1600. I just had not used the rest. And to top it off...the chargeback was against Paypal for non-delivery of something I purchased using my Paypal account...now my Paypal account is restricted...
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