Credit Tips: Credit Card High Monthly Payment Practices
Posted On: October 1, 2004
Author: nowimbroke2
Joined: 23 Sep 2003
Posts: 1
Posted: Tue Sep 23, 2003 9:35 pm
Post subject: Credit Card High Monthly Payment Practices
I recently signed up for a CapitalOne credit card. Huge mistake. I took advantage of a great introductory offer — or so I thought — for 0% for some time and balance transfers up to $30,000. What was not aparent in their agreement was that they would demand 5% of the total balance each month! As a result, I must now pay $900 per month because I transferred a $300 per month loan to their card. Although their call center representatives are sympathetic, they are not able to reduce the monthly payment at all. After several tries to lower this amount, I am resorting to warning you. Beware of CapitalOne’s fine print. You may be thinking their offering a great deal, but you may find yourself in dire straits if you accept their offer. Watch out for the Vikings. They’ll take your entire wallet.
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