Is it true once your credit limit goes over $1000 you will be charged a participation fee of $6? I am already being charged a $10 monthly maintaince fee.
I am a little confused about what is a participation fee and annual fee, are they the same?
My card was not subject to an annual fee but just a monthly maintaince fee, so since my credit limit is now $1200 does that means I have to pay an extra $6 a month now?
2007-03-11 01:31:31 · 3 answers · asked by tiannabooboo 3 in Business & Finance ➔ Credit
Call their customer service center and go over all this with the rep. They will be able to answer this and you'll have the information you need. Sometimes a company will charge you a "participation fee" and it really means an "annual fee", they just do it under a different name. So, if 6$ a month is what they are charging, really it sounds like they are charging the annual fee broken up into 12 months....
Call them and find out.
Also, I do suggest you get rid of the card. 10$ a month is a really high price to pay just to have their card. Close the account and start paying it off.
Good Luck!!!
2007-03-11 01:44:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What kind of card is this?
I do not pay any maintenance fees for any of my cards nor do I pay an annual fee.
$10 a month is really a lot.
Get a different card and cancel that thing. That is horrible.
2007-03-11 01:37:04 · answer #2 · answered by Faye H 6 · 0⤊ 1⤋
I would find another card If I was you It don,st sound right close the account and pay it off good luck
2007-03-11 06:21:58 · answer #3 · answered by pattibcacl 6 · 0⤊ 0⤋