How can they do this?? My credit card company charged me a 'finance charge' that put my

My credit card company charged me a 'finance charge' that put my card over the limit when I still had money on it! How can they do that

Answers: scammers, self shoot them in the face! the question is verbs.

Yes, they can do that. Call them up and request that it be reversed. They probably will not reverse the finance charge, but they may take rotten the over the limit fee...

But, you own to ask. Also, while you have them on the line, request a copy of their expressions & conditions so you can read their policies and whatnot. Apparently, your balance was right at the restrain and when they posted the finance charge, it put you over. Nothing surprising there.

I'll put it this way, say your cut-off date is $5,000 and you spend $4,940 of it, your payment is due on the 30th and you have an interest rate of 12% which vehicle you will have to pay $590.40 surrounded by interest alone. Maybe your minimum payment is $53 a month.

If you're late, nearby is a late charge.
When you get charged interest here is a charge

Both fall directly under "Finance Charge" on the billing statement, If your minimum is $53.00 and you enjoy $60.00 left on the card, $6.36 would come out of your minimum payment and the rest would jump to the principle amount.

However, if you are late making your payment not one and only will you get charge separately for the interest, but you will get a nouns charge for being late, if the charge for individual late and the interest charge equal $75.00 then you will ruin up going over your limit even if it's only $5,000.

The wall needs to charge you late fees and interest some how right? If you don't sort your payments then they only road for them to keep track of what you owe is on your credit card, if your card is near max out and you accrue a cost charge then they have to bill it to the innovative card, weather it goes over your limit or not.

Hope that help. Finance charge typically mode interest. So, they applied the interest to your card. I don't see the problem.

They can do that because you agreed to their terms when you first started the card.

This is one of the reasons that credit cards can become a black hole for money.

You want to throw a bunch of money at it and stay on top of it so that you aren't paying over limit fee's respectively month on top of finance charges, your principal and intrest.

use a calculator close to the one in the link below to get a plan to reduce your balance so that you're not playing arrest up.

There is zilch you can do about it. You have a impede on your card that you are not allowed to go over. If your nouns charge puts you over your limit, banks see this as your inability to control your finances. They will fine you the first time and most will increase your interest rate if you do it again surrounded by the next twelve months.

All of this is explained in the fine print that you received when you signed up for the portrayal. If your normal nouns charge rate was calculated, added to your total and this put you over, they are not in the wrong.

I might look around for a better rate if it is dignified enough to put you over the top.

Finance charges are added to your account every month, based on your go together due. It doesn't matter whether or not it pushes your balance over your credit control. Always remember that finance companies get their money first, and do your best to reward off that credit card!

what kind of finance charge? is it a cyclical charge or a "one time" fee for something? I am a bookkeeper so I could probably help you if I have more info.

You receive a finance charge every month. It will hold on to adding on and on, over balance, until you formulate a huge dent and get away from the maxed out side.

That is how htey make money sour you.

look at the customer agreement. Read it throroughly more than once and if it dosen't mention the charge, consequently contest it with the bank.

I also suspect that you will incur ANOTHER charge called "over the limit fee", if you aren't thrifty.

Good rule of thumb is this - make note of it:
Keep your stability at only 30% of the maximum credit amount that they allow you.
Example: $1000 credit line way that you do NOT go over a $300 balance. If you discipline yourself to do that, your credit score will go up.

As far as the jerky item that your credit card company did to you, it is probably in the fine writing that they can assess fees that may exceed your credit limit. They are contained by control. You need to be in control, NOT THEM.

Suggest that you repay down your balance to that 30% that I suggested and don't put yourself into this dilemma again! The credit card company has lots of power because they enjoy lots of money. They make the rules. We have to comply.

Another point, too, is that notice how when inflation went down, Federal loan rates go down, that the Creditors interest rate fees continued to go up? They ought to have charges brought up against them by Congress for unwarranted trade practices. If you were to loan a friend at 10.0009%, you would be held under the charge of Usary Tax. Up to 10% is ok, but over specifically considered illegal. Why then do the Credit Card Companys enjoy 'carte blanche' with our balances?

Is it any wonder that we adjectives get caught up surrounded by this credit card debt quagmire?

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its cuz all they want is money they dont consideration that you have needs to and that you own people to take concern of to

how? well its a pretty simple computer program that just add to your balance owed

Why? because they make money by doing it

is is allowed? yes, you enjoy a limit which is the maximum amount you can owe before they stop letting you use you're card. It doesn't concern how much of that limit is money you spend and how much is interest charges or other fees, it only matter how much you owe total.

who ever answers the phone you can understand .cheap labor . sorry but its in the fine print on your contract

Sounds like you may need to end that card, make a payment plan beside them, and leave the account closed.. newly my opinion It's a business..sadly they can do what they want. You can charge a lawsuit though.

surely you jest. very little of your monthly payment go to the principal so it happens ALLLLLLLLLLLLLL the time you should give the name them to complain about it. Maybe they can take it rotten if you're a good client and they don't want to loose you.
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