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How much penalty can a credit card company charge?

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2008-06-06 13:08:05
2008-06-06 13:08:05

When a person doesn't pay a credit card bill does the cosigner have to pay the bill and all the interest? How much interest penalty can the credit card company charge per federal law?

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No, a company can not charge a credit card without permission. This violation should be reported immediately to your credit card company.



No...you need to call your credit card company and file a complaint.


Penalty APR is when your credit company considers you late. Most credit card companies place you on Penalty APR if you have been late 2 times in either 6 or 12 months depending on their terms and conditions. A credit card may have an interest rate of 9.99% but have a penalty rate of up to 29.99%


"Whether a debtor keeps credit cards after filing bankruptcy is up to the credit card company. If you are discharging a credit card they will cancel the card unless you reaffirm the debt. Even if you have a zero balance the credit card company might cancel the card."


A credit card company can be sued if the company puts the charge on your bill. It is a civil matter and would be taken to small claims court.


The bars are passing on a fee charged to them by the credit card company.



You can have itunes charge to your credit card or buy a prepaid card either a itunes card or a prepaid credit card ...


No, it would be a violation of the merchant's agreement with the credit card company, and they would lose their right to accept that credit card.


My guess is that company was a collection agency? Never give anyone your bank info, or credit card info. If the company was a legitimate company you were doing business with and you did not authorize payment dispute the charge with your credit card company.


There are maximum interest rates that a credit card company can charge that are set by law, but no credit card company is going to charge more than that. They can raise your interest rate as set out in the terms and conditions they gave you when you applied for the card. Most credit cards have a default interest rate that was communicated to you when you opened the card, which is what they can charge you if you miss payments. It is also required to be put on your monthly statements. You can't sue the credit card company for raising your rates as defined uder the terms of the card.


The credit card system is relatively vulnerable on the internet. However, purchases done with a credit card are often insured by the credit card company, check the policy of your credit card for details about this.


Notify them that the credit card was stolen to the credit card company and dispute all the charges on the credit card. You would also have to file a police report if the credit card was stolen. The credit card company must investigate the charges.


Sure they can. Inactive means it hasn't been used for a while, but it is still a valid account.


No the physical card is not required to charge to your credit card account. All they need is the credit card number and back code. So yes they can charge things to your card.


You still can own a credit card without credit or a poor credit score. Many companies will offer you a prepaid credit card. Simply make a deposit to the credit card company and begin charging on your new credit card up to the amount of your downpayment. Pay your balance like you normally would as with any regular credit card. In most cases, the credit card company will refund your downpayment after you have been in good standing for a certain period of time. You will continue to charge on your card, but it is now an unsecured line of credit.


credit card: no worries if card is lost all you have to do is annul it. Debit card: you have to be in charge charge card: don't really exist


Credit Cards are a type of charge card. American Express is a charge card brand that offers both credit and debit cards. It depends on the account type of the person using it.



Yes, as long as they do so after the specific time of day it's due.


Fees are typically based on a percentage of the credit card sale. This can range from 1-3% based on the company.


There are many places where one can get a charge credit card. One can visit their financial institution to see if they are currently eligible for a credit card. One may also apply for a credit card from numerous online credit card websites.



I will charge the clothes to my credit card.



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