Ok, I already have bad credit. I have 2 credit cards and they just keep adding fees like crazy, I will pay them, but what I want to know is can I contact them in any way and document that I will pay them but PLEASE STOP THE FEES ? I am 56 and don't understand how the CC's work these days, but can i close the acct. or anything to get the fees stopped ?
2007-09-27 13:45:03 · 10 answers · asked by I Love Jesus 5 in Business & Finance ➔ Credit
Are making at least the minimum payment, on time every month? If you are not on time or not sending at least the minimum, you get a late fee. If you are over your credit limit, you get an overlimit fee.
To stop all the extra fees, you must pay enough money to bring your balance below your credit limit. Remember that interest will be added, so allow for that too. And you have to make sure they receive the payment by the due date.
Closing the accounts with balances still outstanding is a bad idea. It won't stop the fees and gives you less negotiating room.
If you need help dealing with these credit cards, go to this site: http://www.nfcc.org/ . Consumer Credit Counseling Service (CCCS) is a legit, non-profit company offering free credit counseling. The can look at your finances and advise you how to proceed.
2007-09-27 14:16:06 · answer #1 · answered by bdancer222 7 · 1⤊ 0⤋
The ONLYway to stop the fees is to pay off the balance, in full, on time. Their contracts give them the right to charge high interest on the unpaid balance, even if you make the minimum monthly payment. They will not negotiate on this point, the most they will do is to lower the monthly interest rate if you have a good payment record, but they won't stop charging some sort of monthly fee on the unpaid balance. This is how they make their profit.
I recommend that you concontrate on paying off one card entirely and then closing that account for good. You don't need two major credit cards, it's much too easy to run up a higher bill than you can pay off each month. Or, consider transferring the balance due from the account with the higher interest to the account with the lower interest; close the first card account, and concentrate on paying off in full the account that remains so that you can start avoiding the monthly fees.
2007-09-28 00:58:54 · answer #2 · answered by AnOrdinaryGuy 5 · 1⤊ 0⤋
by closeing the account u will stop alot of the fees or if not u can transfer ur credit card to another credit card that doesnt have all those fees, plus if u contact the customer service and tell them that ur planning on tranfering ur account to another one they feel threaten and might take those fees off
2007-09-27 13:49:58 · answer #3 · answered by mexdimpls 2 · 1⤊ 0⤋
yes, you can call them and ask to close the account closed. to be double sure they do it you can ask them for an address of where you can mail your request in writing so it doesn't slip through the cracks. Keep a copy of your letter. You may also ask them not to solicit you anymore. This is called "opting out" of their advertisements. They should honor your request with this also. about the fees, i'm not sure. if you can't make your monthly payment they will continue to pile on late charges plus interest. try to make your payments and even more if possible. this will help to pay it off faster and cut down on the amount of interest it will cost you.
2007-09-27 14:15:04 · answer #4 · answered by itsjustme 4 · 1⤊ 0⤋
Each credit card is different but I am 25 years old and am in the same situation. I know it may seem bad but if your credit report is already showing the delinquency's paying it can actually restart the statue of limitations in which the debt originated. It is true that after seven years old debts will be deleted it just hap pend to me. I am moving forward from my bad debt and just staying away from everything credit for the rest of the seven years I have left, then I will have a fresh start. If they have already added tons of fees in which is mostly impossible to get them to remove let it go eventually you will forget. then it will go away after 7 years.
2007-09-27 13:53:34 · answer #5 · answered by Anonymous · 1⤊ 1⤋
There isn't much you can do about the fees and late fees. They can pretty much do as they darn well please. We know. We have been thru bankrupsty and I can tell you most of this credit card companies could care less. Most of the people that you do come in contact with ont he phone are paid minimum wage and are told to try to collect as much as they can. I suggest you try to get them paid off as quickly as you can and close the account.
2007-09-27 13:50:12 · answer #6 · answered by hsmommy06 7 · 1⤊ 0⤋
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2016-10-20 04:35:09 · answer #7 · answered by genthner 4 · 0⤊ 0⤋
Yes call them. Tell them you'd like to work out a plan that will stop the fees. It can happen.
2007-09-27 13:50:35 · answer #8 · answered by chuckyoufarley 6 · 0⤊ 0⤋
They will NOT stop the fees until you are current in your payments .
Will pay them means shiiiit ,
Until you do , fees will be added .
Do pay in full ,
And they will stop the fees .
Promises are bs , $$$$$ talks .
>
2007-09-27 13:50:38 · answer #9 · answered by kate 7 · 1⤊ 0⤋
I think you need to talk with a suervisor. Get them to close the account, but get a payment plan. Or you may need to get a credit counselor.
2007-09-27 14:30:32 · answer #10 · answered by Steveo 5 · 1⤊ 0⤋