I've had a Capital One business Visa for a few years, and have not made any charges on it since August. A rough year in my business caused me to fall behind on my payments, thus costing me late fees in addition to the interest charges, which I expected. However, upon examining a statement in early I discovered that they had also started charging me an "over limit fee" for being over my credit limit!
For one month, these fees added up to almost $90.
Knowing I had not charged anything in months, I discovered that it was their OWN fees and charges that had put me over my credit limit. I could understand their charging me a penalty if I had charged more than my limit, but when it was THEIR fees that put me there, I was livid! I wrote them a letter, but their reply explained their policies to me and refused to remove the charges or lower my interest rate.
To add insult to injury, they have been calling my business number at all hours of the day and hanging up as soon as I answer the phone. As a one-person business, I'm trying to market my business, do the work itself, bill my clients for it, and collect on the invoices due to me. This is in addition to serving as sole caregiver for my elderly mother.
Aside from these calls being very childish, they are also distracting, and interfere with my ability to get work done that will bring in revenue to allow me to pay them. It's as if they don't want me to pay off their card, so they can keep charging me these ridiculous fees! I have closed my account, but the fees will continue until I have the revenue to pay it off.
When I was finally able to make a payment to them today, the entire amount went to cover the fees that have put me over my credit limit. This kind of practice should not be allowed.
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