Credit Card (RANT)

babyharley · Apr 19, 2006

I have a credit card (which will remain nameless) which was almost maxed out to the $800 limit they allowed me.

So, on the 1st, I paid an amount of $300 on my bill, okay fine and dandy. I used it for some emergency reasons the past week and only had a balance of $50 left availiable to use on the card. I got my tax refund and paid the whole thing off in full on Monday - $742.07 - the exact balance that they told me that needed to be paid if I wanted to pay the bill off. Ok, fine and dandy, right? WRONG.

Supposedly I have paid TOO MUCH on my account this month - even though thats what I had on my bill. Since I paid a total of $1,034 this month, they are holding my account for 4-10 days and could close it!

My question - WHY!?

I had a balance of $742.07 on Monday, so I paid it off, how are they telling me that they can hold it! I have paid it all off, all the debt that I had remaining on there!

The payment has cleared thru my bank too!

I am so furious right now! Here I am paying off my credit card and now they are holding it cuz I paid it off in full this month!

Seriously, I am MAD!

pombina · Apr 19, 2006

Its possible that theres been an overlap and they don't have the funds in the credit card account yet. Did they confirm they actually have the money?
This used to happen all the time when I worked at the bank and if its going through clearing (from one back to another) it can take a few days and they have no way of knowing its on its way.
However, if they do have the money I have no idea why they are doing this, unless you missed one of your monthly payments?
I would call them again tonight and ask to speak to a manager, that usually does the trick (speaking from someone who used to be on the other end of the phone to the customers.)
Good luck, I hope they have made some mistake and you get it sorted.

babyharley · Apr 19, 2006

Originally Posted by Pombina

Its possible that theres been an overlap and they don't have the funds in the credit card account yet. Did they confirm they actually have the money?
This used to happen all the time when I worked at the bank and if its going through clearing (from one back to another) it can take a few days and they have no way of knowing its on its way.
However, if they do have the money I have no idea why they are doing this, unless you missed one of your monthly payments?
I would call them again tonight and ask to speak to a manager, that usually does the trick (speaking from someone who used to be on the other end of the phone to the customers.)
Good luck, I hope they have made some mistake and you get it sorted.

I have never missed a payment - I pay on my account every paycheck - the 1st and the 15th!

They have gotten both payments for the month and they have the money!

I am seriously thinking about closing this credit card account and going with another company. The people at my bank have been SO rude about this too!

ugaimes · Apr 19, 2006

That's crazy Kenzie...I'd probably do the same thing...take your money to a company that won't penalize you for paying off (even overpaying) on your card!

phenomsmom · Apr 19, 2006

Aww Kenz I am sorry!! I hate when that kind of thing happens. You jsut want to give them the money you owe them and they treat a good paying customer like that!

babyharley · Apr 19, 2006

Originally Posted by ugaimes

That's crazy Kenzie...I'd probably do the same thing...take your money to a company that won't penalize you for paying off (even overpaying) on your card!

Thanks

Im just super confused as to why they would hold my account for 4-10 days after I've paid it off! Granted I did pay $300 at the 1st of the month, but I spent that money that was on the card!

I just seriously don't get it!

The people I need to talk to @ the bank come in @ 9, boy will they be getting an ear full!

driven · Apr 19, 2006

Originally Posted by babyharley

Thanks

The people I need to talk to @ the bank come in @ 9, boy will they be getting an ear full!

Go Mackenzie Go!

I'm ready for the show.

babyharley · Apr 19, 2006

Originally Posted by DRIVEN

Go Mackenzie Go!

I'm ready for the show.

I'm not - I hate confrontations

I am seriously ready to cry - I hate crap like this!

I need a GOOD credit card company!

gailc · Apr 19, 2006

Make sure you speak with someone higher on the food chain at the credit card company!!

krazy kat2 · Apr 19, 2006

If you have a good credit rating with this card, even with this foul up, it is not a good idea to close it out completely, even if you never use it again. It will still be good on your credit reference in the long run. I heard this from a financial wiz on one of the business and money shows. It will just show up as good credit points. I hate credit cards, and do not use any of mine any more.

pushylady · Apr 19, 2006

That's bizarre! I had no idea they could do that, and don't understand why. They're basically stealing your money!
I've overpaid a few times on credit cards and it just comes up on the next bill as a credit. When we went on vacation, we deliberately overpaid a few hundred dollars on our credit card so we'd have it as an emergency fund.

What is this bank up to? I think it's time to switch cards.

valanhb · Apr 19, 2006

Definitely talk to someone higher in the food chain - at both your bank and the credit card company. Remember that in general the people who answer the phones on the first round can only take care of XYZ problems, not something out of the ordinary. And they generally won't have the answers to questions that are out of the ordinary. Be polite but direct, and if it seems over the head of the person you're talking to - get connected to the next higher person.

Good luck in straightening this out! Hopefully it is just either a computer glitch or someone's mistake, and you can get it straightened out quickly!

huggles · Apr 19, 2006

Originally Posted by babyharley

I am seriously thinking about closing this credit card account and going with another company. The people at my bank have been SO rude about this too!

by what I have heard there are unlimited amounts of companies in the US that will give you a credit card. If you are not happy with the service then let them know, close your account and go somewhere else.
I know in reality they wont care if you go elsewhere as your just "the little fish" but they need to look after you and treat you well. I will not take any rudness or disrespect from any company.

good for you! I hate confrontation as well, but we must stand up for the respect we deserve you know?

jeanor · Apr 19, 2006

Originally Posted by krazy kat2

If you have a good credit rating with this card, even with this foul up, it is not a good idea to close it out completely, even if you never use it again. It will still be good on your credit reference in the long run. I heard this from a financial wiz on one of the business and money shows. It will just show up as good credit points. I hate credit cards, and do not use any of mine any more.

I was gonna say that. Even if you never use it and/or cut it up, leave the account open.

I also agree... make sure you ask to speak to a supervisor (or a few)

Have you ever heard of Clark Howard? Check out his website... he probably has some good card recommendations.

babyharley · Apr 19, 2006

Thanks so much everyone

I am going to call now, wish me luck!

kaleetha · Apr 19, 2006

Good luck!

I'm not entirely sure if I'm following what's going on, but I hope it gets straightened out soon!!!

white cat lover · Apr 19, 2006

I got a credit card through the bank my parents use. I hate it, too. I am ready to cut up the darn card. Heck, how many credit card offers do you get in the mail a day?

I hope you make the credit card people sorry!

laureen227 · Apr 19, 2006

Originally Posted by babyharley

I have never missed a payment - I pay on my account every paycheck - the 1st and the 15th!

They have gotten both payments for the month and they have the money!

I am seriously thinking about closing this credit card account and going with another company. The people at my bank have been SO rude about this too!

i'm agreeing with some others - don't close it, but consider getting a different card. good luck with the bank!

babyharley · Apr 19, 2006

Well, I talked to the bank (arg!)

I had to call the bank (and after 3 hours, she finally called back!) and then I had to wait on hold another 1/2 hr with the credit card company to get a fax number so I could send them my statement saying that the $$ cleared thru my account.

I am looking at getting another card - but I don't really know any GOOD companies that don't mess with you too bad, and actually treats you good!

Any suggestions would be great

Hopefully I can get this cleared up today - they said that they can get it all solved today, but this was still a huge inconvience on my end of the deal, and no one was even nice to me about helping me out either!!

phenomsmom · Apr 19, 2006

I have heard good things about Capital One. I haven't much looked into a credit card yet though. I need to start.

Credit Card (RANT)

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