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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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โˆ™ 2008-06-06 13:08:05
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Credit and Debit Cards

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The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Q: How much penalty can a credit card company charge?
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Related questions

Can a company charge your credit card without permission?

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


How can I stop the charge when I can't recognize that charge in my credit card account?

Contact your bank or credit card company.


Can a company charge fees to credit card without permission?

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


What is a type of fee that a credit card company might charge?

credit limit fee


How little does your credit card debt have to be for the credit card company to charge it off as uncollectible?

any amount due them


Can a company charge your credit card for a renewal without notifying you?

Yes


When can a credit card company charge off your account?

after 30 days or sooner


What is done with the finance charge assessed by a credit card company?

added to the balance


How many days do you have to notify the credit card company of a fraudulent charge?

45


What is done with the finance charge done by a credit card company?

added to the balance


Can you sue a credit card company for false charges?

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.


Why do bars charge extra on credit cards?

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


Can you charge on a credit card that is in your bankruptcy AFTER actually filing bankruptcy?

"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."


What is penalty APR?

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%


Can a credit card company charge over limit late fee's and interest rates on a cancelled card?

no


I-tunes charge to credit card?

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


Is it legal for merchants to charge there employees credit card processing fees?

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.


Are there any class action lawsuits against a credit card agency for overcharging interest?

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.


You gave a company your credit card as proof of id and they took money without permission?

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.


How far it is safe to provide your credit card number to sites who charge us for membership?

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.


Can a credit card company allow a charge on an inactive credit card?

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


Is it illegal for credit card processing company to charge the vendor from two separate companies?

choclate


If a credit card account has been sold can the new company continue to charge interest?

in fact they do


Is the physical card required for a thief to charge to my credit card 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.


What are the costs and pitfalls of using a charge card a debit card and a credit card?

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