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Reply #7: Sounds like a fee and credit card companies show fees as interest now. [View All]

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TwilightZone Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Mar-13-09 05:32 PM
Response to Original message
7. Sounds like a fee and credit card companies show fees as interest now.
Edited on Fri Mar-13-09 05:37 PM by TwilightZone
Sounds like an ATM or other bankcard fee. They converted it to interest - I think they're required to show the equivalent interest rate for fees now.

They're not actually charging you 180% on all balances. The 180% is what the equivalent interest rate would be for whatever fee they charged you that particular month.

$2.00 is probably their minimum finance charge for a balance carried over. Check your cardholder agreement or statement - it's probably on there.
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  -Citigroup screwing customers. AGAIN DarleenMB  Mar-13-09 05:21 PM   #0 
  - have you seen the movie 'Maxed out' .... these guys are blood suckers  TheCoxwain   Mar-13-09 05:24 PM   #1 
  - I just told them I wasn't going to be able to pay my bill and to please close my account.  960   Mar-13-09 05:24 PM   #2 
  - No.  DarleenMB   Mar-13-09 06:52 PM   #17 
  - Citigroup's customers have nobody but themselves to blame at this point.  billyoc   Mar-13-09 05:25 PM   #3 
  - ummmmm you don't PUT money into a credit account  Cronus Protagonist   Mar-13-09 05:27 PM   #5 
  - Well, gee  Sherman A1   Mar-13-09 05:41 PM   #11 
  - No, you should stop paying your mortgage and save up the payments for a year.  billyoc   Mar-13-09 05:49 PM   #13 
  - kiss my butt  DarleenMB   Mar-13-09 06:53 PM   #18 
  - Where do you think Citigroup's customers keep their money? In the freezer?  Bluebear   Mar-13-09 06:59 PM   #21 
  - I defaulted on that account too  Cronus Protagonist   Mar-13-09 05:25 PM   #4 
  - I'm not defending the cc co's but you should NEVER only pay the minimum!  napi21   Mar-13-09 05:32 PM   #8 
     - Yeah, I'd love to have been able to do that  Cronus Protagonist   Mar-13-09 05:34 PM   #10 
        - I DID go through the same thing you did. Our householkd income  napi21   Mar-13-09 08:18 PM   #29 
           - Ouch!  Cronus Protagonist   Mar-14-09 04:01 PM   #34 
  - You didn't say how you paid the bill. I have 2 accts with HD.  napi21   Mar-13-09 05:28 PM   #6 
  - Sounds like a fee and credit card companies show fees as interest now.  TwilightZone   Mar-13-09 05:32 PM   #7 
  - Seems like a perfectly reasonable rate to me.  Renew Deal   Mar-13-09 05:34 PM   #9 
  - On the Sopranos. They call it The VIG.  Hassin Bin Sober   Mar-13-09 05:45 PM   #12 
  - Tony Soprano lends money at lower, more family-friendly rates.  Bozita   Mar-13-09 05:54 PM   #14 
  - That is from some kind of fee they charged,  BootinUp   Mar-13-09 06:01 PM   #15 
  - No it isn't  DarleenMB   Mar-13-09 06:57 PM   #19 
  - Why the hell do so many people at DU have not even basic financial understanding?  TwixVoy   Mar-13-09 06:33 PM   #16 
  - I beg to fucking differ with you  DarleenMB   Mar-13-09 06:59 PM   #20 
  - Your APR is NOT 179.93%  TwixVoy   Mar-13-09 07:08 PM   #24 
  - I hear crickets  TwixVoy   Mar-13-09 07:27 PM   #28 
  - Twix Voy, how is the retail business?  Nikki Stone1   Mar-13-09 10:55 PM   #32 
  - Read the small print on the back of the statement  anigbrowl   Mar-13-09 10:52 PM   #31 
  - Because 'people are DU' are idiots. You keep telling us that.  Bluebear   Mar-13-09 07:00 PM   #22 
  - I just find it incredible  TwixVoy   Mar-13-09 07:10 PM   #25 
  - Easier to just be angry!!  NeedleCast   Mar-13-09 07:03 PM   #23 
  - Because they're Americans, and Americans are stupid.  BlooInBloo   Mar-15-09 03:03 PM   #39 
  - You must be doing something wrong  Upton   Mar-13-09 07:17 PM   #26 
  - No it couldn't be that  TwixVoy   Mar-13-09 07:24 PM   #27 
     - why thank you all  DarleenMB   Mar-13-09 10:42 PM   #30 
        - Hey, it's alright. I've been there too. Just let it roll like water off your back.  Systematic Chaos   Mar-15-09 02:44 PM   #37 
  - In no state in the US is 179.93% APR interest legal on a credit card.  Lone_Star_Dem   Mar-13-09 11:01 PM   #33 
  - Wow. Can you scan the statement and post it?  Mariana   Mar-14-09 04:21 PM   #35 
  - That Is Not The Interest Rate, But The APR  Yo_Mama   Mar-14-09 05:02 PM   #36 
  - ROFLMAO!!  OPERATIONMINDCRIME   Mar-15-09 03:00 PM   #38 
 

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