Hi all. My best friend doesn't have a computer. But I tell her about this site all the time. She wants to start working on her credit. She has 3 things on her credit ( 4 if u include Sallie Mae) A Capitone card that she said is closed, but she told me they still charged he a $40 yearly charge ( can they do that on a closed account?) Also when she's late with the min bablance, they charge $20 late-fee.. I told her to call and make sure she closes the account, it doesn't sound closed to me...Should she stop paying on it? What steps should she take? She wantsto pay it, i'm not so sure she should. Any feedback would be great thanks Melissa
IT NEVER GOT CLOSED...they must refund the annual fee and close the account for real. I always send the card cut in half with a letter saying to close the account, and report it "CLOSED BY CONSUMER" to the big 3...PAID/NEVER LATE...BALANCE $0 Send it CERTIFIED R/R and make a copy of your letter with the card taped on it at the bottom of the letter.
Sounds like her account is closed WITH a balance. If that is the case, then they doing what they are supposed to do in regards to charging fees for late payments. I don't know about the annual fee. That sounds shady... Why is her accout closed anyway???
Tell your friend that she MUST pay the account PERIOD! If she does not pay it, then the reprocussions down the line could be detrimental to her credit! Did I spell all of that right? If not...sorry... One meaning of an account being closed is that charging privilages have ceased. But if you close an account WITH a balance, you still have to pay and are entitled to pay late fees and over the limit fees if you are late. Tell your friend to pay this card off ASAP!
They closed her account. She's just been trying to pay of the balance. So even if a account is closed, are they allowed to charge a annual fee?? Thanks
