I had an $800 balance on my card I never received a statement from them so I called at the first of every month it stated the minimum payment amount and when it was due. For 18 months I paid the minimum amount due plus $20.
In January I called and the payment due was almost $400. I freaked out and listened to the transaction history. They had been charging me an over balance fee of $40 a month for 18 months plus a fee for not making enough of a payment. The minimum amount due each month wasnt even covering the fees they were charging me!
I couldnt afford the new minimum due of $400 and my balance on the card was now $1200. The not so helpful women on the phone said if I didn't make a payment for 6 months it would go to collections. It never did so for another year I was charge another $80 a month. I did a debt consolidation in May of this year and included this debt even thought I dont feel its fair that more than half the balance is fees.
Capital One is gladly accepting those payments and has also garnished my bank accounts. After my arrangement with the debt consolidators Capitol One transferred my account to an attorney, they have garnished all of my savings and checking accounts and my balance due is now $2700.
Now matter what I do I cant get rid of this balance and these fees. This is a typical big bank screwing the little guy.
Product or Service Mentioned: Capital One Account.