Unanswered Questions

I Was Never Over My Limit But I’m Getting Charged an Overlimit Fee. – Kay

Because of the volume of submitted questions, I am behind in personally answering every single one. I need your help. I am publishing the question below for you to answer. Please help this person by adding your response and advice in the comments section of the original question. Click here.

“Dear Steve,

I have two credit cards that are charging a little over 29% interest rates. Every time I make payments, I make more than the monthly payment. They also are charging me over limit fees in the amount of $39, because this high interest rate causes an over-limit charge. I have never charged anything over the limit. The overlimit fees are due to the interest rate attached every month.

How do I get them to lower the interest rate?


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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

1 Comment

  • Hello Kay,

    As you have already found out, credit card companies are scum! They raise your interest rates to ridiculous levels, 29%+, for no good reason except that they want to make more money off of you. Some would argue they do this because they see you as high risk.

    The best policy is always communication, so call them up and ask about these over the limit charges and reducing your interest rate. More than likely, they will say too bad, pay up! I believe these over the limit charges are the result of your credit cards being maxed out and being over the limit, but communication with the credit card companies will help sort this out.

    Nevertheless, you need to pay off the balances on these high interest credit cards. If they are maxed out, get their balances down and I bet these extra charges will go away.

    Credit card companies treat their customers horribly with their high 29%+ interest rates. If when you call the credit card company up and they refuse to help you, cut their credit card over the phone. If they ask what that sound was, let them know that’s the sound of financial freedom.

    Hugs! 😛

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