Ask Experts Questions for FREE Help !
Ask
    beingscrewed's Avatar
    beingscrewed Posts: 16, Reputation: 1
    New Member
     
    #1

    Jan 15, 2006, 08:45 PM
    CreditCard Problem
    After about a 10 or 15 year absence from credit cards, I decided to try using them again. Over the last 2 or 3 years I've been doing OK, not maxed out or anything. I have one card, however, that was close to the limit (only 300.00). I tried to set it up with auto-pay online, something didn't go though like it was supposed to and the payment was not sent. I called the Credit Card company the next day after the due date when I found this out via email. Most companies allow a one time missed payment thing. Not this CC company! Because they didn't get the payment I got charged a late fee. The late fee made the card go over the limit, so I also got an over the limit fee too. They would not accept anything lower than the fees plus the min payment due. I could not afford it. Since they would not accept my payment, I closed my account, and didn't pay. Every month I talk to them when they call and explain the situation. Meanwhile the balance has now doubled to 600.00 because they keep adding late and over limit fees! I thought they were supposed to work with you on these type of things. I can only afford the min payment, but if I paid that each month I feel like I'm just throwing my money away because the balance will keep growing with those damn fees being added on. I only want to pay for what I charged, and be done with this company. How can they get away with this?
    RickJ's Avatar
    RickJ Posts: 7,762, Reputation: 864
    Uber Member
     
    #2

    Jan 16, 2006, 05:09 AM
    Unfortunately, this is not uncommon. These things they're doing were likely in the small print of the agreement you signed.

    I suggest begging or borrowing to get it back under the limit then religiously making at least the minimum payment on it from here on out.

    The harm it's doing is only getting worse for each month that goes by.
    fredg's Avatar
    fredg Posts: 4,928, Reputation: 674
    Ultra Member
     
    #3

    Jan 16, 2006, 05:17 AM
    Credit Card
    Hi,
    I agree with rickj on this. Pay it off.
    While working for a cell phone company as a Cust. Service Rep. many customers wanted to set up autopay for their bills. As one error led to another through the billing departments, some were active through autopay within 30 days, others were "forgotten". As a result, some phones were turned off, bills had "late fees" added, etc, and on and on.
    Credit Card companies can make the same errors, saying you now have autopay, when they really aren't sure, because the billing departments might "overlook" it, too.
    Unfortunately, even though you are not at fault, you are liable for the payments. The longer one waits, the more they will owe.
    I do wish you the best of luck.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
     
    #4

    Jan 16, 2006, 12:46 PM
    Quote Originally Posted by beingscrewed
    After about a 10 or 15 year absence from credit cards, I decided to try using them again.
    There is your mistake right there.

    If you are able to get by without credit cards, without going into debt, then keep it that way.

    Unfortunately, what the other people said is true. Credit Card Companies are ruthless. Pay the debt off NOW, or else it will just get bigger and bigger.
    nwsflash's Avatar
    nwsflash Posts: 530, Reputation: 73
    Senior Member
     
    #5

    Jan 16, 2006, 02:13 PM
    Debt
    Credit cards are a very evil way of spending or lending money, they have so much small print and hidden charges. My advice would be to cut the cards up and return them too the company and get them cleared ASAP.

    Have you looked at consolidation for your debts?? This can bring the interest down very low as well as making your payments cheaper and at the end term of lending be fully paid off.

    With credit cards if you pay the min payments this is just a token payment and you will owe more each month because the interest keeps been added and added to the total you have outstanding. Consult finance advice before you commit to any lending and way up all the over all charges, and see which is the cheapest and quickist for you.
    beingscrewed's Avatar
    beingscrewed Posts: 16, Reputation: 1
    New Member
     
    #6

    Jan 18, 2006, 03:57 PM
    CC problem
    Thanks for your advice. I guess I'm just lucky its only $600. I guess I'll pay attention to the fine print after this! I had no idea this credit card was like that, things have obviously changed over the years. I don't think I need debt consolidation though, all my other cards all have low limits (by my choice), and my total debt is under $2500. Thanks again!
    nwsflash's Avatar
    nwsflash Posts: 530, Reputation: 73
    Senior Member
     
    #7

    Jan 18, 2006, 04:01 PM
    Quote Originally Posted by beingscrewed
    Thanks for your advice. I guess I'm just lucky its only $600. I guess I'll pay attention to the fine print after this!! I had no idea this credit card was like that, things have obviously changed over the years. I don't think I need debt consolidation though, all my other cards all have low limits (by my choice), and my total debt is under $2500. Thanks again!
    Your more than welcome thanks for the reply. I hope you keep those nasty little blood suckers low too :) lol... It good that you will also read all the small print to, this is how banks and that tie people up, because there is probley only like 1 in every so many millions of customer that reads all the terms and cons.

    Good luck :D

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Playboy girlfirend problem.. Real problem [ 14 Answers ]

I have this new girlfriend.. that I really, really like (more than any other). She seems really nice... she was wearing everything of the "playboy" (earrings, bag, shirt, etc, etc) brand name / merchandise. I thought it was cute and a one time thing. Until I saw her bedroom.. It was 100%...


View more questions Search