This was originally a Providian Visa. Aspire took over my account in 2002 and raised interest rates by three percentage points. I finally paid this account off in June, on time and well before the closing date. When I got a statement for July, it showed a $7.72 balance. I called, asking why this was on the bill. I was told that it was a finance charge on a cash advance. I asked for the date of that transaction and they could not give it to me. When I said there had been NO activity on this account for at least two years, except for payments, they said the cash advance must have occurred prior to that and that the $7.72 was the interest on THAT transaction!
How far back can a credit card company go to charge interest??? When I asked what date I needed to get the payment in for this to avoid ANOTHER interest charge, the lady told me to have a nice day. I asked to speak to the supervisor and was told the same thing! I had asked for a closing balance to pay this account off in June, paid the entire sum and now they can come back and say "Oh, yeah. We need to charge you interest from four years ago?" If anyone can comment or suggest venues for protection, I would appreciate it!
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