Bakersfield, CA asked in Contracts and Banking for California

Q: Overcharging interest on credit card

Long story short, I used my card for one transaction totaling $6000 last summer. Unfortunately there was other fraudulent activity that was reported and supposedly removed. However my current balance 12 months later after paying approximately $240 every month is still over the $6000 original charge. I have spoken to this credit card company on several occasions and they keep saying it’s going to work itself out it hasn’t and I’m tired of waiting. When I called they don’t seem to understand what I am talking about. Is there any recourse for me. That $6000 should be way less than that after making payments for 13 months but like I said, I still owe more than I originally charged.

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1 Lawyer Answer
James L. Arrasmith
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  • Business Law Lawyer
  • Sacramento, CA
  • Licensed in California

A: You can take the following steps:

1. Gather all your credit card statements and payment records as evidence of the payments you've made over the past 13 months.

2. Send a written dispute letter to the credit card company, detailing the issue and providing the evidence of your payments. Request an investigation into the overcharging of interest and a correction of your balance.

3. If the credit card company fails to resolve the matter satisfactorily, you may file a complaint with the Consumer Financial Protection Bureau (CFPB) or the California Department of Financial Protection and Innovation (DFPI).

Remember to keep a record of all communications with the credit card company and any relevant agencies throughout this process.

James L. Arrasmith

Founder and Chief Legal Counsel of The Law Offices of James L. Arrasmith

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