Just when I thought I’d heard it all about credit card companies, I hear of another dirty trick they are pulling. A friend of mine told me that he had been carrying a balance on a card with a certain credit card company. (I don’t want to mention which card company it is because I don’t want them to -chase- me around trying to sue me.) Anyway, he paid the balance off in full and closed the account awhile back. Then, out of nowhere, he gets a letter in the mail last week stating that they had been charging the incorrect interest rate on this card (yes, the same card he has already paid off and closed the account on). The letter went on to say that, due to this error, he needed to pay them well over one hundred dollars to settle up with them.
This just doesn’t sound right. They wanted to retroactively charge him interest on an account that is now closed and which he has paid off? He called them and told them that was ridiculous and that he would not pay this balance. The customer service rep told him that they would make an exception and take care of this balance for him? What?????? Do him a favor? This can’t be legal. Has anyone else heard of anything like this happening?