Unfair Sales Practices and Consumer Fraud

questions & answers

Question: I have a walmart discover card that even if i pay the minimum payment, they will tack on a late fee then add the balance and fees together to get the interest payment. My card was over the limit and I did pay that amount, yet they still added another late fee. They have charged over 200 dollars in fees. This is b/s, they get me one way or the other. Seems like double dipping to me.

Answer: The following information may be useful: The Credit CARD Act The latest consumer credit law to be passed -- its full name is the Credit Card Accountability, Responsibility, and Disclosure Act. Provided that you pay on time and as originally agreed, the interest rate paid on existing balances can't be raised. You have the right to opt out of credit card rate increases and to pay off your debts under the original terms. You must be given 45 days' notice of rate, fee and finance charge increases. Double-cycle billing is banned, which eliminates interest charges on debt you pay on time For more information, see the following site: http://www.federalreserve.gov/creditcard/regs.html

QUESTIONS

  • I have a walmart discover card that even if i pay the minimum payment, they will tack on a late fee then add the balance and fees together to get the interest payment. My card was over the limit and I did pay that amount, yet they still added another late fee. They have charged over 200 dollars in fees. This is b/s, they get me one way or the other. Seems like double dipping to me.

STORIES

  • I just helped my mother, age 89, deal with her Medicare HMO. . .
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  • Age discrimination in the workplace. . .

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