I have learned a lot here, and have gotten many negatives removed in the last few months. My problem is I am over the limit with merrick which is doubling every month. The payments that I have been making does not help enough. I know the solution is to pay off to get rid of. But an $800.00 card is now 1500!!!My question is; the card is cancelled, can they keep giving me these over the limit fees? I called a rep there, and she told me until I pay it off it will indefinetely incur these charges! So in theory it could keep going like this forever! Any info would help! Thanks Shawn
Yes, Merrick Bank can continue to post over the limit fees even if you cancel your card. Be sure to read the terms and conditions that was mailed to you when you opened your account.
Unfortunately, yes, creditors will mention this in their terms of service when you applied for the card, it's perfectly legal. You could transfer some of the debt to another credit card if you have another one, at least enough to get within your credit limit. But whatever you do, pay it as quickly as you can to avoid more of these ridiculous fees. Alex. www.Creditinsiders.com
Yes unfortuantely they can continue this. It's maddening I know, but in the fine print you will find it. Hope you can get it payed off soon.
