had heard about it on the news and now it happened to
me. Consumers, be ware, charge card companies are pulling fast
ones on consumers.
Twenty-six years of marriage and a
credit score that reaches like that of the very
rich, seemed to not matter to the charge card
company. But, that could have been exactly what they were
ago, it was Wells Fargo that tried to get us into a pickle, figuring
that we would pay late fees in order to keep our good credit. And
that is exactly what they do.
With Wells Fargo, the company
had a clause in the agreement that the payment stub would accompany
the payment. Then they would be late sending the bill, hoping that
we would be late with the payment, at which time, they would access
a late fee. However, I knew when the bill was to be paid, so I did
not leave it sitting. I paid it right when it would arrive. This was
until one month when the bill just did not come.
Of course, I
was told over the phone that it was still my responsibility to pay
the bill, even without the payment stub, which I told them that they
could get me on because of the clause in the agreement. Hence, they
had me between a rock and a hard place. But, I had an out, with an
empty charge card that had a low percentage rate. I had that credit
card company do the payment, so that Wells Fargo could not claim
that the pay-off payment did not reach them in time.
it is years later and I am hearing on the news about people
with good credit scores, having charge card companies pull fast ones
on them. And low and behold, it happens to us.
Last week, I
received an email from American Express. It was an email
telling me that the credit card company lowered our available
credit, by $2,000.00. This was a card that I used for anything
that I purchased online. That was a huge cut that put me
within around a $100.00 of going over the new credit line
limit. I was not sent anything by U.S. mail, only email. Are you
catching what I am saying here?
That's right, American
Express was about to be the cause of me going over my line of
credit. They lowered the amount, with only notifying me by email and
no warning time. Had I decided to pay my upcoming yearly website and
hosting fees, before checking that email, I would have gone
right over that limit and been charged a hefty fee and risked my
percentage rate being raised.
It is a good thing that I
again, had an empty charge card. Once the balance transfer goes
through, the American Express card will be closed.