Took advantage of 2.99% promotional off by CapOne mailing. I was offered $3000 a reduction from what I had asked for. No remittance invoice was forthcoming so called and requested statement. Never received. Called for due date again requested statement. Remitted $100 on 1/3/05 for payment due 1/10/05. Days later I received the statement which showed a charge of $35 as a past due fee and $29 fee for over limit fee. Statement showed payment was posted the 11th. The interest rate was increased to 15.90%. When I called speaking to the retention department I was told because I was overlimit and late that triggered the higher interest rate. I argued that the payment clearly was not late, and the late fee was waved.
I tried to point out the overlimit fee was unfair because the amount of $3000 was Capitol Ones determination and that the $50.00 transfer charge, (which is what caused the overlimit charge and increased interest) should have been discussed when we were discussing the transfer that was paid. Why had they not mentioned that the 50.00 would put me over the limit? I was told I should have known that. Finally the interest was adjusted to 9.99% seven points over the itial 2.99% advertised. Deceptive, Dishonorable and flagrant Usary
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