I have a credit One bank card. The limit is small as I was trying to rebuild my credit and I was promised they report to the credit agencies. I made a few purchases over several months and paid them off when the bill came. Apparently, I missed the $5.62 annual fee which they seem to charge me every month. Since I knew I didn't have a balance on this card, I ignored the bills when they came and just tossed them. I have another credit card that sends me a statement every month for $0.00 so I didn't think anything of it. At least not until I receive a nasty call from their collection department. Get this, and you're going to love it...
She said I owe them $462.00!
I said WHAT? My limit is only $250.00!
So I went online to check my account. Apparently somewhere around June they assessed their annual fee of $5.62. And since I didn't pay, the charged me a $29.00 late fee. The next month another $5.62 and 29.00 late fee AND a $29.00 over limit fee plus the interest on the previous months amount.
Now please tell me #1. How do you add a finance charge to an account with a zero balance and then charge a late fee?
#2. How does a balance of $34.62 get an "over limit" charge when the limit is $250.00?
#3. How does that add up to $462.00 in 6 months?
And they continue to add fees and charges!
I told her we need to get this straightened out, but in the meantime to cancel the card and not assess any more fees and she said she can't close the account until it's paid in full and brought current!
And they will continue to charge a late fee and an overlimit fee.
How do I get out of this downhill spiral? They call me constantly, but only to harass me and demand payment, when I try to get an explaination or dispute the validity of the claim, they hang up on me!
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