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Old 03-12-2009, 10:16 AM   #1
 
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Angry Finance charges and credit cards- I need help

I paid off a Sandals BOA credit card yesterday. Why when I look at my online account, I am charged 48.78 and this is the finance charge? From the order of the transactions, I paid off the account first and it had a 0 balance, then the same day they tacked on the charge. The bad thing is when I had like a 3,000 balance on it, the finance charge was in the 60.00 range so why am I being charged close to the same amount for 0.00 balance? Can I dispute this? I don't care about closing out credit cards lowering your score, this one is going to credit card hell.
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Old 03-12-2009, 10:24 AM   #2
 
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Did you call them and ask them to explain the charge to you? I would start there and then, based on their answer or lack thereof, start disputing it up the management chain.
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Old 03-12-2009, 11:03 AM   #3
 
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That could be the same thing I was asking about on another thread. When I called they said it was a finance charge from the first day of the last cycle until the day I paid off the credit card.

I still don't totally get it, but it sounds like if the statement is printed out Monday, by Tuesday the balance has already changed. I usually call and say what will my balance be on this day? They give me isht and never want to give me an exact total so I send 10 dollars more. Once it all clears I see my balance ad make a purchase for that exact amount.
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Old 03-12-2009, 11:56 AM   #4
 
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This is one of those shady things that some credit card companies do. They charge you interest on your average daily balance over the prior two months, not the billing cycle. This doesn't really affect the people that pay the minimum payment each month and always keep a balance. This screws over the people who make large purchases and pay them off over a short period (i.e. two or three months). I think it was started when people started doing those balance transfer offers. I would call them and see if there's anything they can do. Sometimes they will reverse the charge.

I just got a notice from Discover saying that they are no longer using the 2-month ADB method. It's a strict billing cycle system now. This is the way it should be.
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Old 03-12-2009, 12:06 PM   #5
 
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Quote:
Originally Posted by gekko422 View Post
Did you call them and ask them to explain the charge to you? I would start there and then, based on their answer or lack thereof, start disputing it up the management chain.
No, I haven't because I didn't know if I actually had a case to dispute it or not, which is why I asked here first.
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Old 03-12-2009, 12:38 PM   #6
 
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happened to me too once.
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Old 03-12-2009, 01:45 PM   #7
 
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Quote:
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Quote:
Originally Posted by gekko422 View Post
Did you call them and ask them to explain the charge to you? I would start there and then, based on their answer or lack thereof, start disputing it up the management chain.
No, I haven't because I didn't know if I actually had a case to dispute it or not, which is why I asked here first.

No, I wasn't saying not to ask here, I was just saying I would call them and ask them to explain how they charge. Then based on my acceptance or non-acceptance of the legitimacy if their answer, I would make the decision to start disputing it.
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Old 03-12-2009, 04:28 PM   #8
 
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Originally Posted by gekko422 View Post
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Originally Posted by Jaguar Paw View Post
Quote:
Originally Posted by gekko422 View Post
Did you call them and ask them to explain the charge to you? I would start there and then, based on their answer or lack thereof, start disputing it up the management chain.
No, I haven't because I didn't know if I actually had a case to dispute it or not, which is why I asked here first.

No, I wasn't saying not to ask here, I was just saying I would call them and ask them to explain how they charge. Then based on my acceptance or non-acceptance of the legitimacy if their answer, I would make the decision to start disputing it.
I hope you didn't take my reply as being snarky. I wasn't trying to be and I knew that you weren't being smart with me with your response. I was just trying to explain that no, I haven't called them yet. I wanted to gather other opinions and also see if others went through the same thing and what they did about it. I know you weren't saying not to ask my question here.

I've questioned an overdraft charge with them before and they denied my request to have it moved. This time I want some ammunition to throw at them about this charge, just in case they try to get crazy with me. I plan on just closing out my checking account with them anyway.
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Old 03-12-2009, 04:29 PM   #9
 
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Quote:
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happened to me too once.

What was the outcome?
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