Stupid credit cards

[coolred]

Originally posted by: Dulanic

Originally posted by: coolred
Just called them and they removed the over limit fee and once i make my first payment of 349.21 to get it back under the limit they said they will reinstate the 24 months no interest financing. They kinda said it was thier fault anyway, since it should not have allowed me to make a purchase for more then my limit. So all is well again. Thank you.

Was about to say, it shouldnt let you go over the limit since it's the store card. It was a mistake on their part hence the reason they did that, I know for a fact it normally does not allow you to go over your limit. Typically I use mine for the 5% rewards instead of the financing.

I don't even think my is the rewards card, I still have the same card I got like 3-4 years ago. Not sure if I get the rewards automatically or if I need to get a new card for that.

 

[KMurphy]

Look up "universal default". CC companies can and do charge the default interest rate when consumers screw up on any card payment. MBNA is (was) notorious for this.

 

[compnovice]

Originally posted by: dullard

Originally posted by: coolred
Just checked a couple of my other cards as well, don't see anything like that on the others. They do have the normal thing slike if I default on thier card they can do whatever they want pretty much, but i don't see anything about if I mess up on a card from someone else.

It is a fairly new proceedure. I think it has only been around ~2 years. If you have a card older than that, it might not have it (or it might have been sent to you separately in fine print that most people toss). Just be careful. Good luck.

Yes, defaulting on one card may affect the terms on other cards.. All CC companies get the reports from at least one of the 3 credit buero. So the next time they check they can do whatever they want to your rates even if you defaulted on a different card...

However, this does not seem applicable in your case. I don't think they reported the overdraft to the buero. They usually give you 60 days before reporting it...

 

[Dulanic]

Originally posted by: coolred

Originally posted by: Dulanic

Originally posted by: coolred
Just called them and they removed the over limit fee and once i make my first payment of 349.21 to get it back under the limit they said they will reinstate the 24 months no interest financing. They kinda said it was thier fault anyway, since it should not have allowed me to make a purchase for more then my limit. So all is well again. Thank you.

Was about to say, it shouldnt let you go over the limit since it's the store card. It was a mistake on their part hence the reason they did that, I know for a fact it normally does not allow you to go over your limit. Typically I use mine for the 5% rewards instead of the financing.

I don't even think my is the rewards card, I still have the same card I got like 3-4 years ago. Not sure if I get the rewards automatically or if I need to get a new card for that.

Some cards can be upgraded (they can check in store) some cant. Either way wouldnt matter here, its no interest or rewards not both.