Credit Card Posts - Podcasts powered by Odiogo Podcasts

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Credit card reviews, consolidation advice, and more. Primary Format : Finance Language : Unknown Also Listed as: City : West Palm Beach State/Province : FL User Tags: User Votes: RSS Feed Website People found this Podcast Searching for: View this Podcast on a Google Map. Podcast iTunes Link Text Only listing of Credit Card Posts - Podcasts powered by Odiogo Podcasts Methings.com listings of Credit Card Posts - Podcasts powered by Odiogo Podcasts If you like this podcast, you might also like:

View the full archive of Credit Card Posts - Podcasts powered by Odiogo How Long Does it Take to Resolve a Credit Card Billing or Charge Dispute? Generally, the bank shall mail or deliver written acknowledgement to you within 30 days of receiving your written billing error notice. If the bank determines that a billing error has occurred, it shall resolve it within two complete billing cycles—but no later than 90 days after receiving a billing error notice. If the bank determines that [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Can a Credit Card Company Charge for Payments Made Over the Phone? Generally, yes. Federal law allows banks and credit card companies to charge non-interest charges and fees, including deposit account service charges. Three points about these charges and fees… 1. All fees should be determined on a competitive basis within the market. 2. Each bank should make the decision on the type, amount, and method of calculation [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Can a Credit Card Company Charge Late Fees if the Minimum Payment Isn’t Made? If you are paying less than the minimum amount due, then the bank can charge you a late fee if disclosed in the Account Agreement. You should also review the Account Agreement you received when you opened the account or contact the lender for an explanation.Click here to play Listen | Listen in your iPhone | Download | View full cache | Are Credit Card Companies Allowed to Charge Late Fees? Yes, your credit card company can charge you a late fee if either of the following is true: 1. Your payment is late. 2. Your payment is for less than the minimum amount due. For more information, please review your Account Agreement or contact your credit card company’s customer service department for an explanation.Click here to play Listen | Listen in your iPhone | Download | View full cache | Are Credit Card Companies Allowed to Charge Over the Limit Fees? Yes, if you exceed your credit limit and it was disclosed in the Account Agreement the credit card company can charge you an over-the-limit fee. You should review your Agreement or contact the lender for an explanation.Click here to play Listen | Listen in your iPhone | Download | View full cache | Can a Credit Card Company Charge a Fee if a Payment is Made on Time but Doesn’t Post Before the Due Date? Generally, unless a cut-off time is specified, payments must be credited on the date received. Check with your credit card company about its policies. For more information, review the Account Agreement provided when the account was opened. If you followed the payment requirements and you were still charged a late payment fee, you can dispute the [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Are Credit Card Companies Allowed to Ask About Income? Yes. Your income is one measure of your ability to repay the credit card you’re applying for. The request of this information is a safe and sound banking practice used by all credit card companies and banks.Click here to play Listen | Listen in your iPhone | Download | View full cache | Are Credit Card Companies Required to Notify Cardholders of a Lost or Stolen Credit Card? No. There is no Federal law that requires credit card companies to provide notification. The best way to protect yourself is to review your accounts and statements regularly, and notify the bank immediately if you spot any irregularities. Some credit card companies may monitor an account for unusual activity and notify you. However, the bank is [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Can a Credit Card Company Charge Interest and Fees After an Account is Closed? Yes, even though you may have paid off and closed your credit card account, there could have been residual interest from previous balances. Residual interest will accrue from the last statement cycle date until the bank receives your payment.Click here to play Listen | Listen in your iPhone | Download | View full cache | Why Won’t My New Credit Card Work? Most new credit cards are sent in a de-activated state to the mailing address you provided on your application. This is to prevent unauthorized use should the card be stolen in the mail before you receive it. Instructions on how to activate the card will be enclosed. If you don’t see them, call your credit card [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Are Credit Card Companies Allowed to Raise Rates on a Fixed Rate Card? With an open-end credit account (e.g., a credit card or line of credit), the term fixed means that the periodic rate is fixed for a period of time. The bank can change the account terms, including the periodic rate, at any time as long as it notifies you at least 15 days prior to the [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | What to Do If You Didn’t Receive Your Monthly Credit Card Statement Notify your credit card company that you are not receiving your monthly statements. You should also file a written billing error dispute with the bank. (Send this to the address specified after “Send Billing Inquiries to:” on the statement. This address is usually different from where you send your payment.) File your dispute within 60 days [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Does the Truth in Lending Act Apply to Business Credit Cards? The Truth in Lending Act does not apply to credit extended for business purposes unless a credit card is involved. If a credit card is involved, the requirements of the regulation that govern the issuance of and liability for unauthorized use do apply. Credit cards for business purposes can’t be issued on an unsolicited basis. Also, [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Which State Usury Laws Apply to Credit Card Accounts? Federal banking laws and regulations do not determine the rate of interest national banks may charge on credit cards and other types of loan accounts. The maximum interest rate that may be charged is controlled by State law—in the State where the banks’ headquarters are located. Moreover, national banks can export the interest rates of the [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Can a Credit Card Company Raise the Interest Rate After the Limit is Exceeded or a Late Payment is Made? Generally, yes, a credit card company can change the terms on a credit card account (this also includes personal lines of credit and home equity lines of credit) at its discretion as long as the bank notifies you at least 15 days in advance. However, the 15-day timing requirement does not apply if: 1. The consumer has [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Is a Credit Card Company Allowed to Charge a Higher Interest Rate Than a State Allows? This may be legal because the maximum interest rate is determined by State law—in the State where the national bank has its headquarters. You should review your Account Agreement, which is the contract governing your account, or any subsequent notifications regarding your account. These will provide information on where your bank is headquartered and any other [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Does a Credit Card Company Have to Lower the Interest Rate After a Period of Making Monthly Payments on Time? Generally, national banks do not have to lower interest rates due to timely payments unless your Account Agreement calls for such an adjustment. As the contract governing your credit card account, the Account Agreement provides information on changes that may occur to the account. If you have a question about this, please contact your bank.Click here to play Listen | Listen in your iPhone | Download | View full cache | What to Do if Your Credit Card is Lost or Stolen It is critical that you report the loss or theft of your credit cards to the card issuers as quickly as possible. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. Credit card issuers often place instructions for lost or stolen cards on your monthly statement. Follow these instructions… It’s a good [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | When is a Credit Card Payment Considered Late? Whether a payment is late is determined by the wording in your Account Agreement. If you always insure your payment is received prior to the due date included on your statement, your payment will not be considered late. Some banks have grace periods and you would need to review your Account Agreement to determine the specific [...]Click here to play Listen | Listen in your iPhone | Download | View full cache | Can a Credit Card Company Increase the Minimum Payment? Along with the other Federal banking regulators, the OCC issued guidance in January 2003 that required changes in credit card lending and account management practices. The guidance applies to all financial institutions that issue credit cards. One of the new requirements is to increase the minimum payment amount so that at least a portion of that [...]Click here to play Listen | Listen in your iPhone | Download | View full cache |