This is gonna sound awful cheap, but I'm confused about a 50¢ finance charge on my hubby's statement. I called Customer Service and I'm still confused so hopefully someone can explain it to me better than CS did. Last month my hubby had a balance of $98.67 on his card. We paid $98.67. Should be a zero balance, right? So on this month's statement, it indicates a charge for $29.65. That was the only charge this month. And along with this is a finance charge of 42¢, and 8¢ in interest charges from last month's balance. I don't get it - we paid the total amount due and still got nailed with a finane charge. I know it's small and I feel silly even asking about it but I am just not understanding. CapOne said you had to pay off your balance in full for 2 months in order not to accrue any finance charges? HUH? I know this should be simple and easy to understand and I know it's only a few cents, but I'm seriously confused! Ozzy.
Was it paid in full by the due date? If it was it is just an ERROR...ask for a credit. The $0.50 is just the MINIMUM finance charge...(SOME HAVE JACKED IT UP TO $1.00 or $2.00)...so if you were supposed to have like $0.12 interest, it would have been RAISED to $0.50...
Yup.. paid in full about 2 days after the statement was posted - paid online. CapOne is turning out to be a pain in the hiney. Was wonderful for 2 years but between not wanting to ditch the $29 annual fee for my $1800 cl and this weird finance charge stuff, my account is closed (they offered to close it!) and we'll close hubby's in a few months when it hits the 2 year mark. Might as well get some benefit from the account! My account was 2 years old last month. I PFB'd 2 weeks ago about my annual fee and haven't heard anything. So guess they don't want us as customers. Citi is turning out to be pretty cool though - they lowered my hubby's interest rate to prime + 2.9% (currently 7.65% I believe). That's not the best they offer, I realize, but his interest rate was 12.74%... so that's a pretty nice decrease... plus the account isn't even 6 months old yet. Plus they offered BT's @ 3.9%... so I'm sticking with Citi and CapOne is outa here. Ozzy.
That goes with their offer. I am sure you read the fine print. My cap1 "important disclosers" says in exact words: Minimum finance charge: For each billing period that your account is subject to finance charge, a minimum total FINANCE CHARGE of $0.50 will be imposed.
