My credit card was about $10 below my limit. BofA added $80 in finance charges which put me $70 over my limit. They then added a $39 over-the-limit fee. Surely this is illegal, I just can't find a reference. They REFUSE to remove the charge. I have no way of figuring my finance charges in advance because of the highly technical and convoluted way finance charges are figured. BofA admits that I can't figure them and just advises me to "guess". My next question is why is my limit X dollars if really it has to be below that to keep them from adding a over the limit fee...
2007-10-24 12:25:22 · 4 answers · asked by danielsexton17 2 in Business & Finance ➔ Credit
over limit is over limit,
Yes it's legal, they do all the time
you are responsible to NOT, go into an over limit status.
by the way, if they can compute the finance charges so can you.
Sorry, and expensive lesson
good luck
2007-10-24 12:35:23 · answer #1 · answered by Jan Luv 7 · 1⤊ 1⤋
Lets get some cake and throw a party for you! Consider your self officially introduced to the ethical world of Creditors!
O did I say ethical . I must have said that in a EXTREMLY sarcastic manner.
Sorry you have had to learn the hard way. That is a most common practice among creditors occasionally you can beg cry and tell a woeful story and they will take it off but it is at their discretion and they can if they want to. .
If you didn't like what the last person said call back and be emotional tell them about your good payment history and how you cant afford all of these charges. How over whelmed and over worked you are and how life is so unfair..... Sometimes that works. Worth a try 80 bucks is 80 bucks. They will always add an over limit fee not matter who makes it go past the credit limit.
I wish you lots of luck........ Seriously call them back
Kourtnie Prosperity Financial, Inc
2007-10-24 16:02:24 · answer #2 · answered by Kourtnie D 4 · 0⤊ 0⤋
you're suited, yet what's your question! you could not end people from spending. consistent with probability you could decrease what CC issuers cost for interest, yet that could in all probability violate another regulation on the books. What could particularly happen in a real unfastened marketplace society is that each and every physique those CC co.'s and subprime lenders, could be allowed to bypass decrease than! that could rock the boat like the huge and reason marketplace CHAOS! Then, while the dirt finally settles, issues must be worth their definitely fee and not some inflated quantity that exhibits each and all of the superb develop in united statesa.! enable some banks tank, and watch what happens!!!!!
2016-10-13 23:12:57 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Yes anything including finance charges that put you over the limit also adds and oner the limit charge, they all do that. Insure you pay enough to insure that it does happen next month also, or it will happen again. They make a bundle off of this
2007-10-24 13:26:23 · answer #4 · answered by Pengy 7 · 0⤊ 1⤋