About 2 years ago I accepted an offer for a First premier card to repair my credit. I received 2 cards in the mail (both Visas) I understood about the fees, and only charged the available $49 on a $250 limit. I paid the monthly statement for about 10 months without a problem until I received a notice that I was over the limit and must pay over $100 on each card to correct the matter.
It seems that a payment was late (I don't recall paying it late, but I'm not disputing the possibility) and I owed a $29 late fee, which put me over the limit. I was then charged a $29 over the limit fee on each card. Overnight I begas to receive 6-8 phone calls per day regarding the account. I agreed to pay the $100 in fees if that would bring my account current. We agreed over the phone, and I made a phone payment of $100.
The following month I again received the same statement for fees (over $100) it seems that I owed $103 in fees, and because I had not paid the full amount I was again charged the late fee, and over the limit fee on each card. Again I began to receive numerous calls per day. I asked that First premier close the account at my request, and I would pay the balance with out continuing to incur over the limit fees. After 6 months of paying them $100, $50 per card, my balance continued to rise on each card. I stopped paying them (which I know was not a smart thing) but now they have moved the account to collections, and I owe... Ready for this... $1404 on each card! I only charged $49, and my limit was $250, I was paying over $50 a month for over 14 months... Is this even legal?
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