I'm currently paying off debts, but have run into
Date: Fri, 02/25/2011 - 16:04
I'm currently paying off debts, but have run into a problem with Capital One. I don't mind paying what I owe but... was it legal for them to lower my credit limit to less than the balance (which was within my limit) and then slam me for fees for being over the NEW limit they set? I'm not trying to weasel out of what I owe, but this doesn't seem right to me.
Well, if you have got delinquent on the account, then the card c
Well, if you have got delinquent on the account, then the card company can lower your credit limit. As per the new Credit Card Act, if you have exceeded your credit limit, then the card companies can impose over limit fees. However, the fees can't be more than the overspending amount.
