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Consumer Affairs
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BestBank Visa Denver

Consumer Complaints & Reviews

Top executives of BestBank and Century Financial were indicted by a federal grand jury in May 2003 (story).

BestBank was closed by the Colorado Banking Examiner in July 1998. Iit had a portfolio of 500,000 Visa cards, many to consumers who had also been persuaded to pay up to $495 to join the "All Around Travel Club," supposedly in exchange for bargain trips.

The FDIC has "forgiven" -- meaning it has written off -- the balances of those who paid exorbitant dues for the travel club. All accounts that were acquired by the FDIC through the failure of BestBank were cancelled as of March, 1999.

However, FDIC did not acquire all of the Visa cards, and there are other servicers who handle a small percentage of the accounts.

ConsumerAffairs.Com has received complaints from card-holders who are still being billed even though they say they are in the group whose balances were supposed to be forgiven. Those persons should contact the FDIC. All inquires regarding BestBank credit cards should be submitted, in writing, to:

FDIC Customer Service

1910 Pacific Avenue

Dallas, TX 75201

Consumers who are not sure if FDIC acquired their credit card account may contact FDIC Customer Service division at their toll-free number 888-206-4662.

T.L. of Brooklyn, NY on Jan. 1, 2000

On or about April 1998, I received a telephone call from "All Around Travel Club", offering discount rates on travel and car rentals. Included in the offer was a BestBank Visa.

Upon receipt of the credit card, I read the terms and conditions and decided I no longer wanted to be a member of the Club. I telephoned customer service and was instructed to return the card. I followed instructions and shortly afterwards, began receiving outstanding balance letters from BestBank.

This has continued since August 1998 and I received another notice on March 12, 1999 indicating an overdue balance of $718.96. According to recent notice BestBank of Boulder Colorado "was declared insolvent and was closed by the Colorado State Banking Commissioner on July 23, 1998. The FDIC was appointed Receiver and has responsibility to wind up the affairs of BestBank."

How can I be billed for a credit card that I never used. I honestly believe I have been scammed.

I am a single parent, full-time employee and full-time student. I earn approximately $28K yearly and am struggling to make ends meet. I never used the Visa Card and am really worried about my credit history and possible garnishment of my wages.

Since I began receiving notices of outstanding balances, I have many sleepless nights, suffer with migrane headaces constantly,have made countless telephone calls and am really worried about my finances. If my salary is garnished, how will my daughter and I survive? This fraud should not be allowed to happen to ANYONE!

M.K. of Berkeley, CA on Jan. 1, 2000

I am an attorney at a legal services office. A client came to my office with an outstanding bill from BestBank Visa of Boulder, Colorado.

She stated that she never applied for a credit card with BestBank Visa. Nevertheless she'd received monthly statements for several hundred dollars. She called BestBank and wrote to them asking them to stop sending her the bills.

The statements continued, and then when she did not pay, BestBank reported her to the credit reporting agencies. She has subsequently been turned down for other credit cards. I am in the process of trying to clear her credit report and make the deliquent statements stop. This type of fraud in unconscionable.

Adam of Antioch, CA on Jan. 1, 2000

I received a phone call from a travel club offering discounts on hotels and car rentals. They also offered a Visa card. I asked them to send me some information in writing about the offer they agreed and I hung up. Some time later I received a letter from the bank, enclosed was a bill charging me for the membership to the travel club.

I immediately called the customer service number on the letter and told the operator that I never ordered the card or membership and wanted the charges reversed. He said he would handle it, and I hung up. Well I recently applied for a loan on a truck and found out that in fact that the charges were not reversed but instead reported to a credit agency, tarnishing my credit and making it so I was turned down on the loan.

I was turned for several car loans finally receiving one at a incredible A.P.R, forcing me to choose a vehicle that I am not completely happy with but was necessary for me to make it back and forth to work. I have also been refused on a loan for home because of this problem.

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