Can a credit card company charge you an over the limit fee if your account was made over the limit by a yearly fee they added on without telling you first?
2007-01-10 02:00:50 · 6 answers · asked by JJ S 2 in Business & Finance ➔ Credit
PetMom, that wasn't my question. I said can they charge me an overlimit fee because of the yearly fee they added on?
2007-01-10 02:07:02 · update #1
Since they write up the contract, chances are that they've included all the ways they plan to take advantage of you in the scam.
If I were you, I'd call them and tell them you don't want the card anymore, and to cancel the annual fee. As a result of this, the overlimit fee should go away. It sounds like you've got a credit card with a company that likes to abuse its customers. Time to switch cards.
2007-01-10 02:19:44 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Whatever happens... skip a few luxuries ( non-essentials) this month and make an extra large payment on that card...get as far below the limit as possible...and even try not to use it this month and pay heavy again next month. THINK about it...it's a total rip-off by that company...why didn't they just " disapprove" that purchase? Use caution in your use and dealings with the cards... they are handy, but remember they have guys sitting around all day, eating doughnuts and ordering big lunches ( thanks to customers) just figuring out " How can we make more money?" Also, remember every late or overlimit fee is used as an excuse to raise your rate...and the late or overlimit fee is reported to any other card you may have(...and they can also raise your rate) . By the time you get a little older and start looking for major credit purchases, like a car loan or home mortgage, they may have already tarnished your credit rating. ( so those loans start at a higher rate)...and the guy takes another bite of the doughnut and says " Nice job,Elmer, we're making more money!"
2016-05-23 03:53:44 · answer #2 · answered by ? 4 · 0⤊ 0⤋
Yes they can and they do often. It is part of the credit card trap. Madding hu? Seems not so fair? It is done daily. If this is the first time you have been over limit then you have about a 10% chance of them taking the fee off if you ask. Also if the first person you ask says no call back a few minutes later, you make get lucky and get a rep in a good mood willing to help you!
Kourtnie Donihoo
Enhanced Debt Assistance
2007-01-10 02:27:47 · answer #3 · answered by Kourtnie D 4 · 0⤊ 1⤋
Yes.
You were told about the annual fee when you applied for the card. It's in the fine print that no one reads. The same with the over the limit fees.
2007-01-10 03:19:45 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Yes, they can charge it. The yearly fee is charged the same week every year, and if you're close to your limit, they're not going to hold off asking for their money because they don't care if you go over your limit - it's more money for them. It's sucky, but it's the way it goes.
2007-01-10 03:34:30 · answer #5 · answered by zippythejessi 7 · 0⤊ 0⤋
Withdrawal within credit limit with international card shall be no more than 50% of the credit limit and no more than RMB2000 a day. International credit cards shall not be used for withdrawal of foreign currency cash by overdrawing.
Interest-free payment grace period is not applied to withdrawal with credit limit with credit card and the withdrawal amount shall be no more than RMB2000 a day.
When balance is not enough in the credit card account, withdrawal can be made with the credit limit. Generally, overdrawing amount for withdrawal shall be no more than 50% of the credit limit.
Overdrawing interest is collected from account day to repayment at the daily interest rate of 0.5‰.
read more from: http://www.lowest-apr-cards.com/
2007-01-10 16:26:15 · answer #6 · answered by alexa dion 3 · 0⤊ 0⤋