Six years ago I got my first creidit card ever through Capital One. I had a limit of $500.00. I never even got that far.
I spent about $300.00, but I called to make my minumum payment by phone as usual and was told that my minimum payment had changed from $27.50 to $50.00. I explained that I could only pay $300.00, but I would be happy to do so, and pay the rest in a week.
My payment was refused. When I called back a week later with the $50.00, I was informed that now My payment was late, and I would be charged an additional $50.00 in late fees. I once again tried to pay what I had available at the time and was refused.
In a month the fees came to more than my $500.00 limit and I started getting charged about $100.00 a month in assorted fees. I kept getting told that I needed to pay a minimum of $200.00.
At the time I was 19 years old, trying to go to college and work two jobs. Eventually it got to the point that my account was put to a collection agency, and I was told that my account was now $1300.00 and I needed to pay it in full. I had to drop out of college because I couldn't afford it and have never been able to go back. I have never been able to get a decent car or housing because of my credit.
I have never been able to get that much money together at one time, and I think it will be a very long time before I do.
Marti
Orlando, Florida
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