Ally Financial - Ally's raise your rate cd-that's a laugh!
Ally says that you can raise your rate once on a 2 yr cd. When the rate when up from 1.30 to 1.40 I called to raise my rate.
No where in their descriptions does it state that if they give you a loyal customer rate of .05% if this a c/d renewal, then the loyal customer rate of .05% would disappear instead of being added to the 1.40. Some loyalty. The manager I spoke to claims that I did not ask the service representative assisting me at the time of raising the rate if I was going to get the loyalty .05. I know I asked him and was told that it would be added to the increase as well.
So much for the raise your rate and the lie told by the manager. This 2 year cd is maturing on 5/1/17 and would amount to added less than $.25.
To me it is just the principle. Anyone taking out a cd with a raise your rate watch out for their underhanded practices if you already received their "loyalty percent".
Reason of review: Poor customer service.
Preferred solution: description of raise your rate should include loyalty percent lost if raise your rate.
Ally Financial Cons: Deceptive business practices.
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