onsumer complaints about charges me late fees. You
credit card abuse continues know that you always mail your
to increase despite clearly credit payments in on time, but
defined federal regulations meant you just got hit with a late fee.
to stop abuse. By knowing and If you are a customer in good
understanding your rights, you standing, write a complaint to
can stop abuse. Let's examine the credit card company and tell
four common methods of credit them you want the charge
card company abuse and what you reversed. If this was a one time
can do to stop the victimizing. occurrence, your creditor will
likely reverse the charge
1. My creditor is charging me promptly. If you regularly get
for items I did not purchase. hit with late fees, make sure
Examine your bill every month to your payment is always mailed in
make sure that what you are being well in advance of the date that
charged is what you ordered. If it is due. Shady credit card
there is something listed that companies will move up the day
does not belong to you, notify that your payment is due without
the credit card company in your being aware of it. Always
writing about the disputed item. open your bill immediately and
Federal law requires you do this plan on making payments as soon
within sixty days of receiving as possible.
your bill. You must do this in
writing as your rights will not 3. I was late with a mortgage
be protected if you call in your payment and now my credit card
complaint. Credit card companies company is raising their
have two billing cycles or 90 rates. Yes, as unbelievable
days to correct the problem. as it sounds, some credit card
companies have a provision in
2. My creditor regularly their contract that lists a
Universal default charge. What equivalent to your outstanding
this means is this: if you are balance is charged every month.
late paying back a separate At 1% the amount of insurance you
creditor, your credit card can be charged for $5000 debt is
company can raise their rates. In $50 for one month. Oh, by the
other words, you have now become way, read the fine print to learn
less creditworthy in their eyes how difficult it is to actually
and your rate has doubled or collect this insurance!
tripled! The only way to combat
this problem is to pay off your To overcome abuse, you must take
credit cards in full every month. charge of the situation and
respond in the proper manner.
Good credit card companies
4. I am paying for credit correct their errors while
insurance. What is that for? abusers continue this practice.
Supposedly, credit insurance In the end, it may be time for
helps out in the event you are you to sever your relationship
disabled or lose your job. If you with them.
signed up for this plan a fee
About the Author:
Frank Liz; (c)2005; All Rights Reserved. Frank Liz is the founder and president of http://www.AmericanNoDebt.com. His goal is to help people preserve and control what they have and what they make in the future, but of course it is his nature since he was born in poverty to teach people to make money.
Source: www.isnare.com
