Is there an government entity to report misconduct by credit card companies?

Question

I have a credit card with a small limit secured by a money market account. I was told in order to close this account and then the money market account I had to pay the balance of the card and then request the account be closed. I did all of that and was told I would receive an letter or email notifying me of the closing of the account that I could then use as documentation to close the money market account and get my money back. Today, I checked the website and I have a new "bill" in the amount of 3 dollars and change - I sent them an inquiry but am wondering what I can do to get them to close the account and quit charging me fees, etc. It is a small amount of money but I want to get it closed because of this nuisance factor and the terrible customer service.

Answer 1

The Federal Trade Commission: http://www.ftc.gov

It sounds like the difference is lagging interest due on your account. This MAY be legit - you should look into it before you run off filing a complaint with a federal agency...

Answer 2

Depending on how the charge go on your credit card, interest could begin accruing immediately as it usually does with cash advances. If this is the case, by the time you pay the statement balance you will have already accrued more interest. Cash advances are hard to pay off unless you overpay and then request a balance refund.

Answer 3

Sounds like they are nickel and diming you to death. Wait for the mail in the post and follow their directions. Do pay the little fees becus if you don't, they either take it anyway or report you to a credit bureau.

I'm afraid to say they are probably within their rights to do this.

At the same time, contact the Better Business Bureau and report this.

Answer 4

you can also report the credit card company to the better business bureau if you have a complaint. I would also call the company itself, even if they have horrible customer service and ask to speak to someone else every time you get resistance or ignorance. Eventually, you will get someone who has compassion for your situation and the knowledge to take care of your problem- most of the time, it takes me about 5 different people before someone cares enough to listen, someone who doesn't want to just get me off the phone, good luck!!