Capitol One
Unauthorized billing

I have an extensive background in the credit card industry. As a former customer service rep and acting manager from time to time for a very large credit card company, I know what I am talking about. I used to have to explain this kind of stuff to about 150 people per day.

Here is my issue: Due to having to fund a wedding, my wife and I had to carry a high balance that put the card at the limit. An oversight of myself caused us to go slightly over the limit on two of the billing cycles. That was my fault and I have no excuse for the (2) overlimit fees that we were charged, but why we got a third overlimit fee AFTER the account was paid in full is beyond me. We also got billed finance charges AFTER the account was paid in full.

The following is information from the last statement, which is the statement that is in question. The billing cycle ended on 8/27 with a minimum payment that included the amount that the account was overlimit by. I sent the entire minimum payment 3 days later (8/30). The due date was not until 9/22- so well in advance.

Absolutely NO transactions occurred after 8/27, yet there was another overlimit fee on the 9/27 statement. How is this possible? The only explanation is finance charges! From 8/27 until 9/26, the account was exactly at the limit. But, on 9/27, the billing cycle closed, finance charges were added, and now the account was over the limit and as a result an overlimit fee was automatically added.

This is clear evidence that Capitol One charges overlimit fees even if it is only finance charges that put the account over the limit.in spite of this poor and, quite possibly, illegal business practice my wife and I paid the account in full as soon as I realized how they treat their customers. The payment posted to the account well before the due date, yet we received a bill for finance charges. So, Capitol One does not grant a grace period for those who pay their account in full by the due date.

My balance consisted of strictly purchases, no promotional balances, no case balances, no balance transfer balances - strictly purchases and therefore no payment hiarachy existed which means that there is no grace period. This is another horrible business practice - especially when every credit card I have ever dealt with honors the grace period norm.

Company: Capitol One
Country: USA
Site: capitalone.com

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