U S Bank Northwest Visa Credit Card
Bank Of America Northwest Visa Credit Card Finance Charges on Unpaid. 85cent balance

My current credit card bill showed a carryover balance of. 85 from the last statement. The last statement bill was $98.85. I called the CC company to give them a change of address back in May. At that time, I asked what my statement balance was for that billing cycle, and was told $98.00, which I sent out immediately. I always pay off my CC when I receive my bill, however, because of the address change, I was concerned that the bill would not reach me on time.

Today I received my June bill, and found a $3.70 FINANCE CHARGE added to this statement. I called US Bank to see what this FINANCE CHARGE was for. I was told that the. 85 carried over from the prior bill was the reason for the FINANCE CHARGE. I asked just exactly what percent interest could you people be charging that would take a. 85 balance and have it accrue a $3.70 FINANCE CHARGE in one month! Well, he said, we take the. 85cents, and multiply it by 365, and then charge our current interest amount on that. SERIOUSLY~I told the representative that I wanted my complete balance, including any "pending" charges that didn't appear on this current bill, and I would pay off this Visa and cancel it. At that point he offered to "waive" the FINANCE CHARGE of $3.70.

People need to be warned about this kind of ripoff. Because I am able to pay my CC off at the end of each billing cycle, I caught this outrageous charge. I am concerned however about anyone that carries over a balance, and doesn't really look at what US Bank is charging in FINANCE CHARGES, or how they are now calculating them. I believe what they are doing is illegal, or at least I hope it is.

Company: U S Bank Northwest Visa Credit Card
Country: USA
State: Missouri
City: St. Louis
Address: P.O. BOX 790408

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