Pissed Consumer - I simply don't understand?

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I simply don't understand?

Jun 26, 2008

CAPITAL ONE complaint

Hello my name is Shelonda Kennedy, my reason for filing this complaint is that I've had something accure on my account twice in less then two months and it is causing great concern on my part.

In the month of May I was charged an over the credit limit fee on my account. When I called to inquire about how this could have happen and to see what I could do to prevent it from happening again. The young man on the other end of the line explained to me, I had exceeded my limit by mere pennies and this is the manner in which matters like this are delt with. This I understood but the June statement is what caught me by suprise.

You see in an effort to take preventive measures on my part I made certain I paid more then my minimum of $15 so that it would cover any over the limit fee of a few pennies. I paid $25 on my account to reach my goal in August concerning a letter that was sent to me by your establishment.

This letter stated that if I managed not to go over the limit on my account up to August I would quailify for a credit line increase which would be just in the nick of time for me because that extra cash would help me prepare for her starting school this fall. Now when I asked your phone rep. if there were any additional fees being billed to my account monthly he said no!

This is what called my attention to the June statment because it shows a finance charge of $6.98 which is supposedly the reason I exceeded my limit. Charges on the account were in the amount of $5.00 (Thompson Oil), and $7.25 (Murphy) bring my total to $12.25 + a $6.98 finance charge for a grand total of $29.23.

This is in addition to an additional $25.00 payment in the month of May which was supposed to take me out of the red according to your representator what wavied the over the limit fee. Someone please help me understand I wouldn't write in if I didn't need to have a true understanding of what went wrong and how it can be fixed.

Yours Truly, Shelonda Kennedy

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Comments (3)

1. Written by cg, on 22-07-2008 12:41

Have you tried using cash? Never any fees, interest, penalties, etc... you just spend what you have and stop spending when it runs out. I know... sounds crazy... but it works.

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2. Written by stubbornkelly, on 20-07-2008 18:42

Um, any time you carry a balance on your credit card, you're going to get finance charges (except if you have a 0% APR). If I were in his place, I probably wouldn't have felt a need to go into detail about finance charges that post to your account, figuring that you'd know that you have to pay interest on outstanding balances - that's how credit cards work!

In any event, if you were overlimit by a few cents and he waived the overlimit fee, then you paid $25, that took you back under the limit by a few pennies less than $25. The charges you made plus finance charges were only $19.23, which should have kept you under the limit.

So what's the issue again?

I also agree that you probably shouldn't keep using your card. If you're getting that close to the limit and paying only minimums or a little more and salivating over the thought of a credit line increase, you're overextending yourself and should reevaluate your budget.

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3. Written by BeBe, on 26-06-2008 14:37

Capitol One are theives that take advantage of people like yourself by charging too much interest and tacking on ridiculously high fees.It doesn't seem like you owe too much You should pay it off and cancel the account. You could always take out a student loan for college.

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