Credit Card Bill of Rights

 Credit Card Bill Rights

Many rules and regulations affect what credit card companies can and cannot do. These governing principles have changed often throughout the years, with a significant amount of the regulatory adjustments being brought about by legal decree. In fact, the new credit card law (CARD Act) which went into full effect in August 2010 represents one of the most sweeping pieces of credit card legislation instituted in years. Therefore, to keep you apprised of all the changes, we have compiled what amounts to a credit card user’s bill of rights that clearly establishes consumer privileges as well as credit card company requirements and limitations in terms of various credit card features.

Interest Rates / APR’s

  • The interest rate on your credit card can only change under specific circumstances:
    1. You become 60 days delinquent (in which case all of your interest rates may rise to the Penalty APR).
    2. After the first 12 months of account opening, your credit card company sends you a notification stating that in 45 days a new interest rate will apply to any transactions made 14 days after the date of the notice (i.e. new transactions).
      • In such a situation, the balance that you have on the 13th day of the notice (i.e. your existing balance) will not be subject to the higher interest rate. A credit card company can send you a notification about an interest rate increase for pretty much any reason, but since the interest rate on your existing balance is not affected you can simply stop using your credit card within 14 days of the date on the notification and avoid having any purchases be subject to the higher interest rate.
    3. Your interest rate is tied to a variable index and there is a change to the value of the index.
    4. The term of your introductory rate concludes.
    5. You do not follow the terms of a debt management agreement.
  • Interest rates can only be applied to balances held during the current billing period (creditors were previously able to determine interest charges by calculating average daily balances for both the current and previous billing periods, which often made for higher interest rates being assessed).
  • If your interest rate rises as a result of becoming 60 days delinquent you may request a reduction after making the next six consecutive payments on-time.
    • Your request must be evaluated within 45 days.

Fees

  • You cannot be subject to fees (excluding penalty fees) totaling more than 25% of your credit card’s initial limit during the first year your account is open.  Unfortunately the 25% cap does not apply to fees assessed before your account is open.
  • You cannot be charged a penalty fee in excess of $25 unless one of your last six payments was late or your credit card company proves to regulators that costs brought about by the penalized action justify a higher penalty. However, no matter what…
    • a late fee cannot exceed your minimum payment.
    • you cannot be charged with an over-limit fee that is more than the amount by which you exceeded the limit.
  • You cannot be charged more than one fee for any single event or transaction that warrants penalty (e.g. two different types of late fees for one missed payment—think the legal concept of double jeopardy).
  • You cannot be assessed fees for account inactivity.
  • You are liable for, at most, $50 if you card is lost or stolen.

Communications / Statements

  • Credit card companies must disclose a card’s terms (APR, annual fee, interest-free periods, etc.) in writing.
  • Credit card companies must provide at least 45 days notice before changing your account’s fee structure or interest rate and prior to making any other significant changes to your terms; however…
    • Companies do not have to notify you before a variable interest rate changes, your introductory rate concludes and the regular rate begins, or your rate increases because you are not abiding by the terms of a debt management agreement.
    • Once requisite notification of any change is provided, you have the right to cancel your card before increased fees are assessed though your credit card company may, in turn, revoke charging privileges and/or raise your monthly minimum payment in order for full balance payment in an expedited time frame.
  • Your credit card company must explain the reasoning behind any interest rate increases.
  • Credit card companies must denote clearly on your bill how long it will take to pay off your balance when only paying the minimum amount and how much you would have to pay monthly in order to be at zero balance within three years.
  • Lenders must use uniform methods to calculate the cost of credit and must disclose this cost.
  • You have the right to dispute payments.
    • Disputes must be mailed and received by the credit card company within 60 days of the date on the account statement that included the initial potential error.
    • Your credit card company must acknowledge the dispute within 30 days and either correct the mistake or send a letter explaining why there was no error within 90 days.
  • You must expressly agree to allow purchases that exceed you credit limit.
    • If you agree to allow over-limit transactions and end up exceeding your limit, your credit card company may assess only one fee per billing period
    • You can choose to revoke the ability to exceed your limit at any time.

Payments

  • The amount of your payment above the minimum payment must be applied to the balance with the highest interest rate.
    • The minimum payment amount is applied to the balance with the lowest interest rate.
    • If you made a purchase with a deferred interest rate (e.g. interest does not begin to accrue until a year after purchase) you may be given the choice of applying your monthly payments to this balance so you can pay it off before interest kicks in. If you are not given this option, your payments for the two billing periods prior the end of the no-interest period will be applied to this balance.
  • Your credit card company must mail you your bill at least 21 days before it is due.
  • Your credit card company must provide you with your bill at the same time each month.
  • Payment cannot be required to be placed prior to 5 p.m.
  • If your payment date falls on a holiday, you have until the day following the holiday to make payment.
  • Mistakes on your bill must be corrected and may not damage your credit score.
  • You have the right to dispute payments.
    • Disputes must be mailed and received by the credit card company within 60 days of the date on the account statement that included the initial alleged error.
    • Your credit card company must acknowledge the dispute within 30 days and either correct the mistake or send a letter explaining why there was no error within 90 days.

Credit Card Eligibility

  • If you are under 21 years old you must exhibit payment ability (i.e. prove reliable income) or have a co-signer in order to open a credit card.
  • Credit card companies must evaluate your income (includes household income that you have access to) prior to issuing you a credit card.
  • You may not be discriminated upon based on sex, race, religion, marital status, age, or national origin.
  • You may not be discriminated against because you receive public assistance.
  • You cannot be issued an unsolicited credit card.

Debt Collection

  • Debt collectors must identify themselves in every communication.
  • Debt collectors must apprise you of your right to dispute your debt.
  • Debt collectors must provide contact information for the creditor from whom the debt originates within 30 days of receiving a request for such information.
  • Debt collectors must mail you verification of your debt or stop the collections process within 30 days of receiving a dispute or request for debt verification.
  • Debt collectors may only call you between 8 a.m. and 9 p.m.
  • Debt collectors may not use the telephone to intentionally annoy or harass you.
  • Debt collectors may not attempt to contact you at work if your employer has forbidden the practice.
  • Debt collectors may not use abusive or profane language.
  • Debt collectors may not contact you after you have requested in writing that they not do so.
    • Communications expressing the conclusion of collections efforts or the filing of a lawsuit are permitted.
  • Debt collectors may not contact you if you have made it known that you are being represented by an attorney.
  • Debt collectors may not misrepresent themselves or the extent of your debt.
  • Debt collectors may not publish your name or address.
  • Debt collectors may not threaten legal action that is not actually being contemplated.
  • Debt collectors may not share information about your debt with third parties, excluding attorneys and your spouse.
  • Debt collectors may not send you mail with any symbols or writing indicating that you are in debt collections.
  • Debt collectors cannot relay or threaten to relay false information to credit reporting agencies.
  • You have the right to sue debt collectors in state or federal court.

Credit Reports

  • Consumers have the right to free copies of their credit reports from the three major credit reporting agencies every 12 months.
  • Negative information must be removed from your credit reports within a certain period of time.
    • Most information must be removed within 7-10 years.
  • If information on a credit report leads to adverse action against a consumer, the organization that used the information must notify the consumer of this fact and identify the source of the information.

 
Image: Mike Flippo/Shutterstock

Previous Hearings Held On Bill to Repeal Use of Credit Reports in Employment   Federal Trade Commission Institutes Restrictions on Debt Relievers Next
POST YOUR COMMENT
Sep 14, 2014
Photo of Lisa J.
By: Lisa Jo
I use my card for gas, as I drive a lot, and I make payments based on my paydays, rather than the due date. I was just notified that I have reached my number of payments that I am make within a 30 day period, but I still have a balance. Is this legal?
Sep 1, 2014
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By: Jeanette Hawkins
My credit card has been closed and I had a low balance. It keeps going up I closed the account. How long can the credit card company keep tacking on fees? It's double what I owe. Is there any way to stop the fees? It's been 6 months.
Sep 10, 2014
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Card Hub
You cannot close your account without first paying off in full your balance. Since there was a low balance and the credit card company keeps assessing fees it sounds like the account is still open. You should look into this issue as soon as possible because you might also be getting reported to the credit bureaus as delinquent and thus incurring significant credit damage.
Aug 18, 2014
Photo of Jane B.
By: Jane Bolton
I really need a credit card but I don't have any credit or even no checking account and a savings account I'm still looking for a job I draw SSDI for right now until I get a job somewhere I still won't give up any hope in finding a job I need a credit card I'm just hoping you will let for me to have a credit card for an emergency only. Sincerely, Janey
Jul 30, 2014
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By: Sanna Huebschmann
I am a small business; having much difficulty with CapitalOne credit card. I believed that account to be inactive, have not renewed my credit card in a few years but I forgot about a yearly auto-pay I had set up. They have been able to use my card without having any current security code; which is fine (legitimate charge) but the hardship this causes me is ridiculous. They are now charging me interest on interest for a principle balance that was paid off. This stems from CapitalOne not posting my clearly timely checks to their account. They don't give me much time, at all, to make a payment. I did more
Jul 23, 2014
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By: Darla Clain
Dear CardHub, moved recently and just made payments online as usual. Just learned that three months ago a payment that was processed on the due date through my bank, didn't clear until the following Monday. It was a weekend, the credit card "Citibank Home Depot" processed the payment on that Saturday, the day before on a weekend and the day after it was due of course. Imposed a 30 something dollar late fee. I continued to make what I thought was more than the minimum payment for three months, unaware the entire time this late fee occurred when they processed it the day after my bill pay gave me a more
Jul 21, 2014
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By: John Mueller
"Your credit card company must mail you your bill at least 21 days before it is due.
Your credit card company must provide you with your bill at the same time each month."
I have been complaining all this year that I am not receiving my Credit Card Statement by mail & no other notification that anything is due. They keep CLAIMING that my statement is being mailed, but nothing received all of 2014, despite balance due every month. They try to blame the US Postal Service, but EVERY other bill is received like clockwork. Last month my bank manager discovered that (despite all other indications and claims) the mailing of my more
Aug 26, 2014
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Asha Ramji
I am going through the same thing postal service is being blamed... I am being charged late fee payments and they can't set up a minimum payment... but at the end of the phone conversation the attitude changed and assistant said yes you can set up minimum payment..... and when asked if I can set it up say I have to speak to customer services as they cannot do it. They are the credit card supplier..... frustrated and baffled.
Jul 18, 2014
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By: Krista Rutledge
We found out my husbands ex wife has a Bank of America credit card with his name. They have been divorced for 9 years. The credit card is maxed out and payments are not being made. We have contacted Bank of America twice asking them to provide documentation showing that he opened this account because we think she probably forged his name. Bank of America just ignores our requests. Any suggestions? Thanks.
Aug 1, 2014
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Card Hub
He should contact Bank of America and close the account since it is under his name. Also, he should monitor his credit report every few months to make sure that no new account shows up.
Jul 16, 2014
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By: Joan Pesta
I was harassed with a phone call from PNC bank about my visa credit card. The man on the phone said he was trying to collect a debt, because I missed my last payment. I told him I didn't understand what he was saying because I always pay off my bill every month. He said it was the law in North Carolina to call a customer whenever they miss a payment and ask for payment now. I told him I was going to give him any of my information over the phone. I couldn't believe that I was being harassed by PNC for missing only one payment in all the more
Jul 12, 2014
Photo of Clara M.
By: Clara Mead
Bank OF america, i made a payment more then my usual fee. and was charged $13.00 more interest pluse a higher amount to pay on my 8 5 14 payment total of $44.and some change more then my 7/5/14. also were i had 29 cycle day in 7/5/14 they raised my cycle days to 33 days. i called the bank and spoke to a gental men but got no were.would like to know is there a place were i can call for help to look into the proceedors of the bank.. i hold 8 credit cards and don't have this peoblem with the other 7 only BANK OF AMERICA THANK YOU FOR TAKEING MY COMMENT. CLARA 7/12/14
May 24, 2014
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By: Nix Mac
Do these rights apply to auto loan statements too?
May 17, 2014
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By: Duane Wall
A friend of mine applied for a credit card. They received their first bill before they received and activated the card. At this time, they still don't have the card. Is it legit for a CC company to send the bill prior to receiving and activating the card?
May 12, 2014
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By: Joshua Keener
Bank Of America purposely left my credit account open when I asked to have it zero ' ed out and made payment at the bank. The purposely left the account open and didn't transfer any money to bring it to 0.00 balance just so they can feast upon the interest. Very crooked and probably earns them kick backs/commission. So unless you force them to show you that they closed out and zero ' ed the account they'll purposely leave it open and let it gain interest for not paying. How crooked. But at least I'm not alone. Lots of support with other Web sites and groups saying how crooked they more
Mar 20, 2013
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By: Bobbi Bryant
My husband has a judgment aginst him from Lowes credit card. The last payment made was before March 2010 and the lawyers office is charging 8% interest. We now owe well over $5800 and they want a settlement of $4300. I am behind on other bills as well. I made an offer of $1500 and asked they take away the interest. They said no but wouldn't tell me what their next steps would be just that they would let us know. Does anyone have any suggestions on what we could or should be doing?
Feb 12, 2013
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By: Joseph Weaver
I was accepted for a credit line increase, signed the paperwork, received my first bill after the increase and they said I was in default of 16.oo dollars and also charged me a 35.00 dollar late fee...Is this legal. I disputed the bill, then received notice that they rescinded the credit line increase even after receiving the first bill.geez...what is going on?
Feb 7, 2013
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By: Tracy McCausland
I paid my credit card on the 4th of the month, it was due on the 28th of the month, they charged me a late fee and double my minimum payment because they said that I didn't pay my bill,, if I paid on the 4th and it isn't due until the 28th why did I get a late fee.. confused.
Feb 4, 2013
Photo of Kelly M.
By: Kelly Mazuchowski-Schiavulli
Can a credit card company contact you multiple times in one month to tell you that your bill is due if you aren't late? I'm dealing with Home Depot and they email me 6x'Times a month telling me that my payment is due, my payment is due on the 4th every month I have never been late but they keep reminding me it gets very annoying... They already have the money for this month and they sent me another email today telling me the payment was due today.
Jan 28, 2013
Photo of Tom K.
By: Tom Keane
I was contacted this afternoon regarding a Visa card that was paid off in 2009. The collector claims that the amount owed is $700.00 and that the original card debt holder charged off the debt in 2009. It appears that in Massachusetts, the statue of limitations for old debt is 6 years. But I'm not sure that my records go back that far. Does anyone know what I can do? I'm pretty sure I paid this already.
Jan 28, 2013
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Lincoln Hill
Hey Tom...If you do not have a record of paying that credit card off then just contact your bank and they can go back far enough to trace and locate the payment and if it was paid off then ask them to send you physical proof so then you can fax it to the company that contacted you and that should get them to hide with their tails between their legs...Then I would contact the credit card company directly and get a written apology....Remember to get it reversed off of your credit score once you prove it was paid off....Hope this helps. Banks always have to have records of everything more
Jan 28, 2013
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By: Lincoln Hill
I have a secured Capital One Mastercard here in Canada. When I got the credit card they told me that in 6 months an offer will be made to me for like increasing the limit without further security funds, return deposit, etc...well the 6 months passed and they said after 12 months well that passed too...My payments are in on time all the time so my card is in great standings with them....Are they descriminating against me? Another question is....I am always under my credit limit and when their interest is applied it puts me over my limit and then they charged me 29.00 for over limit fee..Each month I more
Jan 19, 2013
Photo of Crystal M.
By: Crystal Mark
How long can a credit card company keep asking you for the balance? They wrote off the account years ago because my initial balance was $150 and went to $200, $300, and now they are sending a letter 6-7 years later claiming I owe $95, I had sent the ma letter years ago explaining I had cancelled that credit card and showed proof it was paid off. How do I go about getting this off of my credit report?
Jan 21, 2013
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Card Hub
If you've already gotten your credit report, then the next step will be to dispute this delinquent account, supplying the credit bureau with the proof you have that the account was paid in full. After that the credit bureau will make an investigation into the matter and give you a response, either granting your removal or if they find in the credit card company's favor, leaving it on your credit report.
Jan 29, 2013
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Crystal Mark
do you know what the statute of limitation is for it to be on my credit report or where I could find this information?
Jan 29, 2013
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Card Hub
We have a guide on the current statute of limitations in each state: http://www.cardhub.com/edu/statute-of-limitations-for-credit-card-debt/
Jan 16, 2013
Photo of Stephanie S.
By: Stephanie Franklin Stransky
I am dealing with bofa right now showing a 30 day late on my credit report and duplicating it on my credit report and they have confirmed I have never been 30 days late just 7 days (i have never been over 30 days on any account), they lowered my limited, affected my score and also affected other credit cards who adjusted my rate higher due to credit history so they acknowledge I have never had a 30 day and will remove it but now I will be going after them for the other credit cards who changed my rate---anyone up for a class action lawsuit.
Jan 9, 2013
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By: Earnsteen Davis
I have an account with Emerge. They told me I could pay 110.00 a month for one year. , but after 6mos. my payment would be 236.00 I told the person I was suppose to this 110.00 amt for 1 year. I have been paying this amt every since. Every month they charge me high interest rate a late fee of 25.00. I missed Dec. payment because it was'nt helping. I have not hear from them by phone only my monthly statement with MIM. Mpayment of 1,781.28 What can I do. Me and husband are senior citizens and on a fixed income.
Jan 10, 2013
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Donna Jean Evans
Call me at work tomorrow and I will check it out.
Jan 13, 2013
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Renee Morris
WOW .MOM THATS CRAZY.LOVE YOU no worrys they can only get what u give them,IF THE DONT STICK TO THERE AGREEMENT TAKE THEM TO COURT.AND YOU NEED TO CALL HEAD QUARTERS AND GET THEM FEES WAIVED,i will call you tomorrow ,k
Dec 7, 2012
Photo of Lamar N.
By: Lamar Nico
We took a cash advance out for $9,000.00 with Capital One to pay off a personal loan. We received the check from Cap. One, deposited it into our bank account. B Of A told us to come back after the check was processed in 1 to 3 business days. We checked our account the next day the credit card check had been processed and funds were available. After learning this, we had a cashiers check made out to the company for the personal loan and delivered it to the company. 3-1/2 weeks later, I go to buy a $10.00 item and my debt is declined.
I go to the bank to more
Jan 28, 2013
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Lincoln Hill
I would be escalting this issue with the banking ombusman for your state/country. Do not give up as Capital One should be 100% responsible on this.
Dec 5, 2012
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By: Card Hub
Unfortunately, cash advances and purchases are treated as separate types of transactions and thus have separate APRs. You need to do a balance transfer ASAP and move out your balance from this credit card to another credit card. Almost any credit card will have a lower APR applied on balances transferred than on Cash Advances.
Dec 5, 2012
Photo of Michell M.
By: Michell R. Mcgloin
Automatic bill pay nightmare! If you are overcharged and it's corrected, discover will pay the last statement balance regardless of any corrections or payments since that last statement balance..so if I overcharge your credit card $1000 and it shows up on your statement and you call me and I credit it back after the statement end date, discover withdrawls the statement balance, not the current balance..you'll have a $-1000 balance on your credit card(a prepaid $1000 credit card).
Dec 1, 2012
Photo of Dan F.
By: Dan Forester
I paid my Amex bill 25 days early and they posted it to the previous months balance. When I called them about it they said that I still have a payment due for the month that I paid early and now they're hitting me with a late charge.
What can be done about this ?
Dec 1, 2012
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Rosemary Doto-Gushue
Stop paying them so early!Tell them you are going to drop them--that may get their attention. Ask for a supervisor.
Dec 1, 2012
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Bruce DiRenzo
Call Obama...lol
Dec 5, 2012
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Card Hub
Unfortunately, until your next statement gets printed, any payment you make will go towards the current open statement, instead towards future one. This is true for all credit card companies, and there is not much you can do except to wait for your bill to arrive and then make your payment.
Nov 29, 2012
Photo of Annmarie B.
By: Annmarie Brooks
My Credit Card company charges me late fees for not paying on correct days? I make 2 payments a month on this credit card! I pay $60.00 every 2 weeks that is $120.00 a month! They then were hitting me with $30-$35 a month finance charges and also $1.00-$1.32 charge? Then on top of it they charge me late fees because they said if a payment is made before the 2nd it counts for the previous month and if it is after the 2nd then it is late? I am so mad! WTF? No interest for one year BULLSHIT! I have paid over 1,000.00 already and they hit me with more
Nov 29, 2012
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Card Hub
To be honest I'm a little bit confused about what's really going on. But let me try to clarify a few things with you:

1) Any payments that you make before your bills due date count towards the minimum payment that you need to pay for that month. And unless your payments add up to your minimum payment, you will be considered late.

2) If you become more than 60 days late, your card's interest rate will jump to the penalty APR which is usually close to 30%.

3) I suggest that you call your credit card company, find your exact balance, APR, minimum payment, and whether you account is considered to more
Nov 23, 2012
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By: Rena Chan
I have cancelled my credit card with full settlement on the 23 Oct 12 but lately I received my credit card stated they still doing my auto debit on the 04 Nov 12. I call up and say I want to report stolen card because the card is still working after weeks of cancellation, they reply me the delay of the cancellation of the card is because of the maternity leave taken by the staff and not one handling at the moment. I reply them I will not be paying this amount because of such ridiculous reason and will report to bank negara and they answer me I can make more
Feb 5, 2013
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Card Hub
Sorry for the delayed response. It sounds like you didn’t have any remaining balance on your credit card and the customer service associate didn’t know what they were talking about. What ended up happening by the way?
Nov 18, 2012
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By: Chris Parker-Bittle
I have had my same secured credit card for almost a year now and have never received any form of bill from them, on top of that, in September they decided to start accepting payments through a new company. Keep in mind I have never received a bill from this company, I go to pay my bill for September, calling the same number on the back of my card I have always called, well I entered my card number and was informed that my card number was invalid. Being that I had lost my wallet a few weeks before and a good citizen mailed my wallet back to me, I more
Nov 12, 2012
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By: James Watson
My Visa card was under the limit the day before the due date and all payments made with a 1000 credit under my limit. I made a 900 dollar purchase that would have made my card 100 under the limit. A few days later I go online to check to see the statment and they reduced my limit by 1000. Now they have put me in a 900 dollar over limit situation? It took me a couple of months to save to pay down the card this much. I was late the month before by 1 day due to patday and the bank to bank transaction delay. I cant possably more
Oct 30, 2012
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By: Mary Pollom
I dropped Alltel over four years ago. I was out of my contract but they sent my account to collection for getting out of my contract which is false. I contacted the credit bureau and they took it off. Now I pulled my credit report and found out a different company is on my report for Alltel but not Alltel Now they started the process all over again. Is this legal? It is an invalid debt. I had them removed once but now they back doored it with a different company. I believe this is against my rights.
Oct 28, 2012
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By: John Pacelli
I MADE A PAYMENT AN E-BILL PAYMENT TO US BANK FROM MY B OF A BUSINESS ACCOUNT BUT LISTED THE WRONG ACCOUNT NUMBER. SO I HAVE A 1500.00 CREDIT ON A CARD I HAVE NEVER USED. I BELIEVE BY LAW THEY MUST RETURN THIS MONEY TO ME. I ASKED THAT THEY PUT THE CREDIT ON THE CARD INTENDED BUT THEY DON'T SEEM TO KNOW HOW TO DO THAT. RIDICULOUS. IF THEY WOULD SEND OUT PAPER STATEMENTS AS I HAVE REQUESTED THIS WOULD NOT HAVE OCCURRED. HOW LONG DO THEY LEGALLY HAVE BEFORE HAVING TO RETURN MY MONEY. THX
Nov 14, 2012
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Card Hub
You should write U.S. Bank at its "Billing Inquiries" address and request that a refund be sent to you in the form of a check. They must send your refund within 7 business days of receiving your request.
Oct 17, 2012
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By: Rhonda Fleming Lawrence
Above it says before 5:00 PM so is the following legal to do? I made a payment online the day the bill was due but after 6:00 PM I was charged a late fee. This is from their help questions "Any online payments submitted prior to 6pm ET can be credited to your account today. Online payments submitted after 6pm ET will be credited the following day (or on your future scheduled payment date)."
Oct 15, 2012
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By: Garnett Albarran
Refinancing and found on my credit report Citycorp credit card had charging me a late fee. After the hour phone call and they didn't know what the charge was for, they came back to me to say it was a late interest fee after the card was paid off. The charge was 55.00 2008 and now 225.00 Here is the problem! After the card is paid off they no longer send information. They even said they did not and do not send after the account is closed. 2008 I was charged a late interst fee and now it is 225.00. This is out banking system for the people. I'm putting more
Oct 10, 2012
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By: Damaris Colon
On my billing statement nowhere is there the interest that I am being charged. Can the credit card company not show the interest rate I am being charged? I would like to have the interest rate lowered. I have always payed on time amd payed more then the minimum. How do I go about this.
Oct 9, 2012
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By: Third Watch Training
Can I request a lower payoff balance from a credit card company? I want to pay off my bill. Think if I contact them they'll be willing to give me a discount?
Oct 9, 2012
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By: Kelley Condon
I recently charged over 9k on 3 different credit cards to pay for training for a new affiliate marketing business. I attended the first training which I didn't think was worth more than about $100 and was continually "talked down to" by the teacher. I was promised a mentor who I still have not received. I would like to get a refund of my money and/or rescind my payment on my credit card. Is this possible? A friend told me I could do this within 30 days of the transaction. I will contact my credit card companies to discuss these issues. Any comments or info?
Oct 3, 2012
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By: Jacqueline Rogers
Can a credit card company send you a bill when the card was never used and a person forgot that they had the card
Nov 11, 2012
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Tony Steen
It depends on certain things. You may have a yearly cost to the credit card as well. Or even have bills sent on auto pay for it.
Oct 1, 2012
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By: Rachel Tinker Kulberg
I had an old credit card that was charged online accidentally and I was unaware of it because they did not send me a paper statement.I found out about the charge 2 months later and they had added a $25 late fee on the $25 charge. I explained to them the situation, that I hadn't used the card in over a year, and I had never received a bill, and they cancelled my card and I paid the balance of $25- but not the late fee. This month they charged me a late fee of $35 for an unpaid late fee of $25. Can they keep doing this every month? more
Oct 5, 2012
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Card Hub
The rule states that you can be charged once per offense each billing cycle, which means these charges are technically allowed. In addition, what you're failing to realize is that a late fee becomes part of your balance once assessed and therefore accrues interest and could attract late fees if left unpaid. Your best bet is to call the credit card company and ask for them to waive the subsequent late fee and interest in return for you paying the initial late fee immediately.
Sep 27, 2012
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By: Merri T. Schmitzer
Hello..my visa card went to collection and so I called them today to make the statement and the lady told me that we can settle with you if u pay 80 percent of the amount at once.. I said ok...i called her back after one hour because my phone was cut off. then her supervisor picked up the phone and he said no I have to pay full amount. and now when I want to talk to the same lady and she said sorry my supervisor is taking care of your file now. can they do that. even though I was agreed to pay 80 percent right away?
Oct 3, 2012
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Joe Beeney
just tell them you will only pay the 80%. End of story if they want their money. Some times you have to get hard with them.
Sep 26, 2012
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By: Patty Duggan Shama
I was out of work twice - once for 8 mos, once for 4 mos. My total income last year was 40,000 less than half of what I used to make. I missed one payment on my AmEx cc - it was either that or my mortgage. I called them asking them to change the date; they would not until I made the entire bill. I called again asking for help and was told I do not qualify for any of their programs. I called again the following month and a wonderful woman told me to pay $100 per month and she'd keep an eye on my account. We also more
Sep 25, 2012
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By: Michael Wright
I was late on a payment back in December, but didn't really pay attention to it at the time. I just kept paying my minimum payment. Totally my fault I realize that. Since then my minimum payment has gone from $95 to $500 for this late fee back in December. I have sent extra money throughout the month thinking that it would chip away at it, but later found out that it never went to the original late fee. They have told me that if I paid this roughly $500 amount that I would be back to the original minimum amount. I'm just having trouble wrapping my head and my more
Sep 25, 2012
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By: Kesha Delouise
I have paid my credit card more than 25 days grace period and the balance is zero but they still charge me the interest charges. Can I dispute my interest charge?
Oct 5, 2012
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Card Hub
Did you already have a balance on your card before you incurred the charge in question? If so, there would have been no grace period and interest would have started to accrue immediately. On the other hand, if your balance was zero when you made the purchase, you submitted your payment in time (the grace period is not 25 days for every card), and were still charged interest, try calling customer support to discuss the problem. If you don't get anywhere that way, you can submit a complaint to the Consumer Financial Protection Bureau.
Sep 24, 2012
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By: Joseph Peeling
Does law require that the above "rules" are posted on cc websites? I have an issue with DiscoverCard and their non disclosure of posting practices of payments. We couldn't find out why we weren't getting anywhere with the balance. All we could afford was minimum payment, and I know that doesn't move you very quickly on reducing balance, but it is what we could do. They told us if we "signed up" for auto bank draft each month, in a few months they would reduce their APR for us. That never happened. My husband called (this was his account from a prior marriage, opened in 1990) and they told him more
Aug 29, 2012
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By: Raen Pichel
I am not late on my payment, it is due next week, but I am $25 over the limit. I intend to pay that plus extra on my due date or a few days before. For 2 weeks, the cc company has called relentlessly for me to set up a payment which I decline because there's a fee. They say the calls will continue until I pay. Can they do that even though I'm not delinquent?
Aug 29, 2012
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By: Carolina Cardenas
Bank of America report e to the credit bureau after I paid ONE day late! Due day was the 4th and I paid on the 5th one day late and they reported 30 days pass due is this correct? No notification- is this legal?
Aug 27, 2012
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By: Christena W. Ripke
After being just under 60 days late, our Citi card was brought current. However, Citi closed the card and sold it to a collection agency without any notification to us. Is this appropriate?
Aug 23, 2012
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By: Andrew Abdale
What rules are there related to APR?
Aug 23, 2012
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Card Hub
They can increase the APR on your future purchases for any reason, however, they can only increase the APR on your existing balance if you become 60 or more days delinquent.
Aug 16, 2012
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By: Jacelyn Sobeski
QUESTION: I haven't had any late payments for the past year and a half. My credit card lowered my limit a year ago thus putting my balance near the limit. I paid it down to half within 3 months. Then 6 months later, they lowered my credit again(this was just a week ago) even though I had it paid down to 1/3 of the limit. Can my credit card continually keep reducing/lowering my limit every 6 months if I a. Never exceed 1/2 the available limit and B. always make early/on time payments and I always well over the minimum amount owed.

I'm trying to rebuild my credit and this more
Aug 16, 2012
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Card Hub
Amber - sorry to hear about this. Unfortunately, it seems that your credit card company has made the decision that they no longer want your business and yes they are allowed to keep reducing your credit limit as often as they want. Here are a few things you should try:
1) Transfer your balance to another credit card so that you no longer have to deal with them
2) Call your company, escalate to a manager and request a credit limit increase
3) Get a secured credit card, where you are in control of your credit limit (your credit limit is equal to your security deposit)

Hope this helps! more
Jul 31, 2012
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By: Kenneth Raps
I am being charged 24.24% on V$7,171.93 and 29.24% on V$5,731.73 on my Discover Card for a total of $280.64 Interest charge, and need to know if I need to file a consumer complaint? I am up to date on payments and have never been late.
Jul 17, 2012
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By: Judy Callery Baldwin
Added interest charges caused my credit card to go over the limit and then they reported it to the credit bureau. I've never had a problem with them before. Is this legal?
Jul 6, 2012
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By: Twylla Eversole Bell
For open end credit lines, what are the rules in sending out monthly billing statement if a borrower is delinquent? Is there a time period where statements are withheld? i.e. when a line goes into a partial charge off or non-accrual status?
Jul 6, 2012
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Jim Benton
uuuuh...yea
Jul 2, 2012
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By: Gary Benedetto
Card Hub...No, my intrest charged is around twice as much as the month's prior to the increase. This is the main reason why I have been able to catch the inrease in APR. I finally got to talk to a specialist/manager and she told me that each time they have dropped my APR it has only been a promotional 6-7 month rate. Regardless, even the first increase (for no reason) was applied to all previous purchases.
Jun 29, 2012
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By: Gary Benedetto
16 months ago my credit card apr jumped from 11.9 to 20.9. I have never been late, I have always had a balance, and I have always paid more than the minimum payment. I called for an explanation, but instead they lower it to a 14.9. 7months later, the same thing only they will only drop it down to 16.9. 7 moths later (today) same thing. Now they're are telling me that due to the new laws created in 2010, they have to. Is this true or even legal.
Jun 29, 2012
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Card Hub
Given that you have never been late, I assume this APR applies to your future transactions and that the APR on your existing balance remained unchanged? Is that correct?

In regards to the APR that applies to your future transactions, credit card companies are allowed to change it as they please since consumers have the option to stop using the card if they do not like the higher APR and thus not be affected by the increase.
Jun 20, 2012
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By: Micheal Curella
I received my American Express bill on 6/20 (Closing date is 6/13). Due date is 6/28. I thought there was supposed to be 21 days between receiving bill and due date?
Jun 21, 2012
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Card Hub
hmm - on what type of card is this? Is this a consumer or business credit card? Also is it on a charge card or credit card?
Jun 13, 2012
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By: Soraya M Figueiredo
All it takes is an email to your CC company. They will delete the fees. The CC Bill of Rights is very clear regarding these charges.
Jun 4, 2012
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By: Jamison Seyfried
Can you sue a Credit Card Company for disclosing your Social Security Number and Date of Birth to another person?
Jun 4, 2012
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Card Hub
hmm - what exactly happened?
Jun 4, 2012
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Michel Schnepf
Card Hub I was sent another persons credit debt collection with their address SSN and DOB.
Jun 5, 2012
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Card Hub
Leonard Cerami - Gotcha! That is horrible! Regarding your original question, I am sure you can sue but unless you can prove actual damages you are not likely to get anything out of it.
May 29, 2012
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By: Ronnie Mexico
My payment with Chase is was due on May 28th (Memorial Day). I forgot the payment, and they charged a late fee. Today, I made a payment of $225 (minimal is $125). According to the above article, it says "If your payment date falls on a holiday, you have until the day following the holiday to make payment.". By law, they have to take off my late charge, and can't report me late, correct? If this is true, what can I do if they refuse to do this?
May 29, 2012
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Pat Gerhardt
Call Chase and ask for a manager and read the paragraph to him/her.
May 29, 2012
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Robert Alan Comitalo Jr
Speak to a higher tier in cs and mention you have never been late before and threaten to cancel card if they do not remove late fee... works every time
May 29, 2012
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By: Ouida Bree
We have been battling with Capital One about an account we paid off 5 years ago. It just showed up on our credit report last year (no contact ever since we paid it off, then poof! marked as a charge off). We disputed this with Capital One twice, once via phone (no records they did nothing - after 45 days said it was "transferred to a specialist and we'd hear back in 24-248 hrs - never heard back), and one time the dispute was via certified mail. They responded only that they received the validation request, but never validated the debt or removed the information. Now they just sold the more
May 29, 2012
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Card Hub
You should dispute credit report errors with the credit bureaus and not with the lenders. Here is how to do that: http://www.cardhub.com/edu/credit-report-dispute/ - Just make sure you dispute the info with all 3 credit bureaus (assuming the info is showing on all three).

Also you should tell Portfolio Recovery that you do not acknowledge this debt and that they should provide you with proof. Debt collectors must mail you verification of your debt or stop the collections process within 30 days of receiving a dispute or request for debt verification.You can read more about your bill of rights here: http://www.cardhub.com/edu/credit-card-bill-of-rights/ more
May 29, 2012
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Irena C. Krzak
Card Hub We already disputed this "debt" on our credit reports with all three at least two times each. We were told by them to dispute it at the lender level. We have learned through phone calls to the FTC and Attorney General that there are no teeth to these laws for the consumer. All the lender has to do when the credit bureau asks for validation is "say" they checked and that the information has been validated.

We are going to send a certified letter to Portfolio Recovery today to dispute that we do not acknowledge the debt and request proof which we suspect is unlikely to come up with more
May 25, 2012
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By: Andrea Detullio
I had a mishap with Chase who eventually closed my account. Shortly after, Citi Cards closed my two cards as well. I had never, never been late on that card. No issues with them whatsoever. Is this legal? NOTE: they did notify me they closed my account due to information on my credit report.
May 25, 2012
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Card Hub
We are sorry to hear that and yes it is legal for credit card companies to close your account or reduce your credit limit. You should go to annualcreditreport.com and get free copies of your credit reports in order to make sure that all the info is correct.
May 23, 2012
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By: Danny Greenvalley
My credit card is due on the 5th and I paid it on the 5th at 2;00 pm pacific time online. On the credit cards calendar they only had the 6th and above to choose from. they charge me a late fee. Is this legal?
May 23, 2012
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Card Hub
Yes it is. Most banks have a 5pm ET cut-off time and you must have been a few minutes past 2pm PT. Do they accept same day payments if you visit their website before 2pm PT?
May 24, 2012
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Danny Greenvalley
Could you explain to me why it is stated in the credit card bill of rights under payments: Payment cannot be required to be placed prior to 5 p.m. Why would this situlation not fall under this.
May 24, 2012
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Card Hub
Unfortunately, your bank accepting same day payments till 5pm ET meets the letter of the law. The law does not require that they accept payments till 5pm on all time zones. Do they accept same day payments if you visit their website before 2pm PT? If you could look into this and let us know it will help us get to the bottom of this. Thanks a lot!
May 8, 2012
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By: Courtney Heath Frost
Can a credit card company charge you for having the card, paying it off and then not using it for over a year? My husband and I were under contract for a house and had been pre-approved for a mortgage then got a phone call today (home inspection day) from our broker telling my husband the credit card company shows he is 60 days late on paying his bill so it dropped his score by over 100 points and we no longer qualify for the mortgage. He hadn't checked the statements because there was no balance on the card for over a year. Is there anything we can do?
May 8, 2012
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Courtney Heath Frost
Also, my husband called the credit card company and talked to multiple people including supervisors and was told there was nothing they could do.
May 8, 2012
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Card Hub
Courtney Heath Frost - Sorry to hear about this unfortunate incident. It sounds like he forgot to pay the annual fee? I mean one way or another a balance was created on this card by either an annual fee that the card had or a transaction. Please let us know how the balance was created since that makes a difference in how much you can push the credit card company to revert it.
May 1, 2012
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By: Valerie Yager DeBernardi
Can credit card companies lower your credit limits, raise your rate and close accounts, that you are making payments on, because you are settling the debt with other credit card companies and your credit score has dropped?
May 1, 2012
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Card Hub
They can lower your credit limit and close your account for whatever reason. However, they cannot increase the interest rate on your existing balance unless you become 60 days or more delinquent.
Apr 27, 2012
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By: Rowena H. Bledsaw
My credit card switched from paper statements to emailed statements a couple of years ago, then several months ago they stopped sending statements at all - and naturally I was late with a payment, so they charged me a late fee and interest. Isn't it illegal for them not to send me a monthly statement? The late fee was charged on Jan. 2 - is it already too late for me to do anything about this legally? Or should I call them and just demand they refund the fee and interest, and fix my credit report, or I'll cancel my card?
Apr 27, 2012
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Card Hub
It is illegal for credit card companies not to send monthly statements. Just call them and make sure they refund you any fees and interest that they charged. Also they do not report to your credit reports unless you become 30 days delinquent (i.e. you missed 2 payments in a row), which does not seem to be the case so do not worry about any credit score damage.
Apr 27, 2012
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Jeff Valjeff Anbinder
Wow, what took you so long to reply? :-) Seriously, thank you so much. I'm calling them now.
Apr 27, 2012
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Jeff Valjeff Anbinder
At first they said they could only waive the late fee, not the interest charged, but I insisted, and they relented. They claimed their emails must be bouncing, but the test email they sent came right through. I insisted they return me to paper billing immediately. Thanks again for your assistance!!
Feb 17, 2012
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By: Cecilia
I was under the impression that in order to transfer a balance, you pay a one-time 'Balance Transfer Fee'. However, my credit card company is charging a transfer fee every month...is this legal?
Feb 23, 2012
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Odysseas Papadimitriou
@Cecilia - Are you sure that they are charging you a monthly balance transfer fee and not just interest? If yes, please let us know which exact card you are using so that we can look into it.
Nov 15, 2011
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By: Kaye
I am delinquent on my credit card payment its now in collection. My outstanding amount moved from $500 to $1544. I havent used the card since 2007 and the amount is still climbing is this legal
Oct 28, 2011
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By: Jennifer
I recently applied for the Chase Freedom Visa card & was approved. The card applied for stated it offers 0% Intro APR for 6 months on purchases then raises to 11.99% or higher based on credit, 0% APR for first 12 billing cycles on balance transfers, & diff reward options for various purchases. Well the card that I got was completely different. The purchase APR is 15.99% & doesn't offer balance transfers. What can I do to fix this issue?
Oct 20, 2011
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By: Maurren
I was 8 days late on my credit card. First time every late. They raised my interest rate to 30%. Is this legal?
Oct 20, 2011
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Odysseas Papadimitriou
@Maurren - If that was on a business credit card the short answer is that yes it is legal. If it was on a general consumer credit card then they cannot raise the interest rate on your EXISTING credit card balance unless you become 60 days delinquent. However, they can increase the interest rate that affects future transactions as they wish, which is fair since that gives you the opportunity to stop using the card for new purchases and therefore do not have any of your balance affected by the higher interest rate.
Oct 7, 2011
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By: Angery
Under this Bill, how is a stay at home spouse suposed to get a credit card, if you can't count household income?
Oct 20, 2011
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Odysseas Papadimitriou
@Angery: Couples should apply for credit cards that offer joint credit card applications. Also secured credit cards can be another interesting alternative.
Aug 9, 2011
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By: Lori
My husband has a construction business and wants to request from the credit card company copies of the last two years statements. He believes the business credit card was used for personal reasons by his business partner. His partner's wife is our secretary and the office is in their home. We have recently found them guilty of taking money and want to check credit card statements. Will the card company send these to our home?
Aug 11, 2011
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Odysseas Papadimitriou
@Lori - Sorry to hear that. Is the credit card under your husband's name? Also a better solution might be to go online and check the transactional history.
Mar 10, 2011
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By: C J
We just had a credit card company call and inform us that we they were from the county clerks office and that someone would be at our home today by 12:00 noon to serve us with papers for a court case. We went to the clerks office and found out that no such paper work had been filed and that we were not on the list to be served as our amt was under 10,000.00. This type harassement was very upsetting to say the least.

I was so upset I left work early to see what was happing at home.

Our content is intended for general educational purposes and should not be relied upon as the sole basis for managing your finances. Furthermore, the materials on this website do not constitute legal advice and should not be relied upon as such. If you have any legal questions, please consult an attorney. Please let us know if you have any questions or suggestions.