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Citicards Complaint - Paid in full and still charged interest - Master Card
Master Card - Complaint
I pay my balance in full every month. My last statement, I was charged finance charges for a balance that was paid in full. I've always paid it in full and have never been charged finance charges. Upon questioning CitiCard regarding the finance charge, its reasoning was interest accrues when purchase are charged to my account. They did not want to waive the $1.03 finance charge, for a balance paid in full.
I've had the account for over 15 years. The Government bailed them out, yet they are trying to get every penny from balances that are paid in full. What kind of behavior is that?
I've had the account for over 15 years. The Government bailed them out, yet they are trying to get every penny from balances that are paid in full. What kind of behavior is that?
Comments:
Posted by tnchuck100 on 2010-11-09:
Was their a cash advance involved? Those accrue interest from day one.
If this is not the case it is time to put that card in a dresser drawer and never use it again. Since it is an old account don't close it. It is helping your credit score.
If this is not the case it is time to put that card in a dresser drawer and never use it again. Since it is an old account don't close it. It is helping your credit score.
Posted by mrvw on 2010-11-09:
If you didn't pay the bill until the due date most, if not all, credit cards charge you interest. If you pay the bill before the due date no interest will be charged.
Posted by trmn8r on 2010-11-09:
This has nothing to do with "bailouts", but everything to do with your user agreement.
It sounds like you either paid late or as another reply suggested, a cash advance was involved. I use Citi for several years, and I always paid in full before the due date. No finance charge.
They told you when interest begins accruing, but did they tell you WHY you were charged interest?
It sounds like you either paid late or as another reply suggested, a cash advance was involved. I use Citi for several years, and I always paid in full before the due date. No finance charge.
They told you when interest begins accruing, but did they tell you WHY you were charged interest?
Posted by Slimjim on 2010-11-09:
Since you always paid in full before without incurring finance charges, then you have a standard grace period and something must have been different this time around. Like chuck said, it sounds like you used maybe a cash advance check or something in that area of no grace charges. If that's the case, it's the way all banks roll.
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