The online transfer was made but the amount was wrong.
The credit card payment was made online but when our caller entered the amount he made a mistake and transferred $25 instead of the $350 he owed. Realizing the mistake, within 2 days he contacted the bank and had a direct charge made against his checking account for the correct amount. Imagine his surprise when he received a notice from the bank that his interest rate on the credit card had gone from 14% to 26.74%.
Our caller had a good credit record and always paid his bills on time. He contacted the bank and was told to close the account and open a new one, but during a second call he was told to keep the account open and make payments on time for six months – payments that included the higher interest rate.
A call to our office produced results. His credit card account was restored to the original interest rate.