Discover Card
Credit Limit Lowered, Then Over Limit Fee Charged on Interest
- 03-24-2009
- 35
Discover Card lowered my credit limit to just above my balance. Even though I had a perfect payment history, this was not a problem, bad times in all. Then Discover Card charged the regular interest fees to my account for my current balance. This was normal. But because the interest went over my new credit limit I was charged an over limit penalty. Can they really do this? This is not acceptable! Creating charges by adjusting the limit and all without my knowledge of these events. If they lowered my credit limit and the interest went over my limit, I would be happy to pay the amount over limit because I pay this anyway, but to tack on extra fees is just a scam. Big business should be stopped from behaving as if they can do anything to the consumer and the consumer just has to accept it. Banks are already out of control but the credit card companies are more out of control. I missed just one payment to my JPMorganChase Visa by two days and they set my interest rate to 29.99%. I will not ever do business with them again. But some people are stuck with it because of a high balance and have to payoff four to five times the amount of the balance causing them to go into bankruptcy. I was told that this is just how business works. My thought is that this is greed out of control and anything but business. One might think that the banks have had this planned for awhile.
Company: Discover Card
Country: USA
State: Delaware
City: Dover
Site: discovercard.com