ING Line of Credit
April 19, 2011
Recently, I received an (unsolicited) email from ING Direct advertising “[my] Orange Loan Account Invitation”. As someone who has a credit card slash has ever applied for a credit card, I am used to getting unsolicited offers. With traditional Brick & Mortar based banks/credit cards I expect to receive an offer for some new “service” 1D4 times per month, and some “convenience checks” (aka blank checks they send you that come with finance charges and reside on your credit card) every 1D4 months. I actually used a convenience check to buy my first motorcycle; the dealership didn’t want to take a credit card, so I wrote them a convenience check. I actually like these checks, as they offer a way to get a better interest rate (and have a higher limit) on Cash Advances from your Credit Card. However, as I mentioned before there is a finance charge associated with said device. On the last set I received, the fee was “Either $5 or 4% of the amount of each transaction, whichever is greater.”
Calling ING Customer Service
October 7, 2010
Recently, I opened an Orange CD with ING Direct, but in my haste to open it, I selected 18 months instead of 12 months. Ooops! Unfortunately, I couldn’t find anything on the website to rectify this. Closing the CD prematurely would result in a penalty of 6 months interest (given that I had just opened the account that means I would have been paying them), so instead I bit the bullet and called customer service.