{"id":18842,"date":"2011-01-20T20:00:34","date_gmt":"2011-01-21T00:00:34","guid":{"rendered":"\/\/www.askmrcreditcard.com\/news\/?p=18842"},"modified":"2011-01-20T20:00:34","modified_gmt":"2011-01-21T00:00:34","slug":"barclays-bank-may-be-violating-the-card-act","status":"publish","type":"post","link":"https:\/\/www.askmrcreditcard.com\/news\/barclays-bank-may-be-violating-the-card-act\/","title":{"rendered":"Barclay's Bank May Be Violating The CARD Act"},"content":{"rendered":"

Just over a year ago, I signed up for a Frontier Airlines Visa through Barclay’s bank.\u00a0\u00a0 It was a great offer, with 40,000 bonus miles, potentially enough for two award tickets on Frontier Airlines.\u00a0\u00a0 The annual fee was waived the first year, so I kept the card after I had earned the bonus miles.\u00a0\u00a0\u00a0 At the end of the year, I called to cancel when I received notice of the annual payment.\u00a0\u00a0\u00a0 At that time, I had made a typo, and paid my bill a dollar short.\u00a0\u00a0 When I canceled the card, I realized that I still had a balance of a dollar after the annual fee was removed.\u00a0\u00a0 To my surprise, the representative informed me that I did not have to send the dollar in, and that they would close the account with a zero balance.<\/p>\n

Guess What Happens Next<\/strong><\/p>\n

A month passes and I get a bill from Barclay’s for $24.\u00a0\u00a0\u00a0 They had taken the dollar, charged me some kind of minimum interest charge of a dollar for three months (don’t ask me how) and<\/em> added a $20 late charge.\u00a0\u00a0 Very frustrated, I called them immediately upon receipt of the bill.\u00a0\u00a0\u00a0 Again, I was told that the balance would be forgiven, as well as the late fee.<\/p>\n

Wait A Second…<\/strong><\/p>\n

I remember reading that the CARD Act put limits on the amount of late fees.\u00a0\u00a0 Specifically, a late fee cannot be more than the amount owed.\u00a0\u00a0\u00a0 According to the web site of the Federal Reserve Board<\/a>;\u00a0 “…your credit card company cannot charge a late payment fee that is greater than your minimum payment. So, if your minimum payment is $20, your late payment fee can’t be more than $20.”<\/em><\/p>\n

I am no lawyer, but it appears that Barclay’s may be violating the CARD Act.\u00a0\u00a0 Of course, I have no case, since they immediately credited me the fee and my balance (or so they say), but I am no left wondering how many people are getting caught up in this.<\/p>\n

If This Happens To You<\/strong><\/p>\n

Any time you get a late fee, you should call your bank and ask for it to be waived.\u00a0\u00a0 Unless you do this very often, your bank will almost certainly grant your request.\u00a0\u00a0\u00a0 Certainly if you ever receive a late fee that is greater than your minimum payment, you should also point out your bank’s potential violation of the CARD Act.\u00a0\u00a0 If you are in a really bad mood, you may also wish to alert Federal regulators.<\/p>\n

The CARD Act of 2009 has been the greatest piece of consumer finance legislation in my lifetime.\u00a0 Familiarize yourself with it’s provisions, and you will never be taken advantage of again.<\/p>\n","protected":false},"excerpt":{"rendered":"

Just over a year ago, I signed up for a Frontier Airlines Visa through Barclay’s bank.\u00a0\u00a0 It was a great offer, with 40,000 bonus miles, potentially enough for two award tickets on Frontier Airlines.\u00a0\u00a0 The annual fee was waived the first year, so I kept the card after I had earned the bonus miles.\u00a0\u00a0\u00a0 At […]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[38],"tags":[],"yoast_head":"\nBarclay's Bank May Be Violating The CARD Act<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.askmrcreditcard.com\/news\/barclays-bank-may-be-violating-the-card-act\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Barclay's Bank May Be Violating The CARD Act\" \/>\n<meta property=\"og:description\" content=\"Just over a year ago, I signed up for a Frontier Airlines Visa through Barclay’s bank.\u00a0\u00a0 It was a great offer, with 40,000 bonus miles, potentially enough for two award tickets on Frontier Airlines.\u00a0\u00a0 The annual fee was waived the first year, so I kept the card after I had earned the bonus miles.\u00a0\u00a0\u00a0 At […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.askmrcreditcard.com\/news\/barclays-bank-may-be-violating-the-card-act\/\" \/>\n<meta property=\"og:site_name\" content=\"Ask Mr Credit Card Blog\" \/>\n<meta property=\"article:published_time\" content=\"2011-01-21T00:00:34+00:00\" \/>\n<meta name=\"author\" content=\"Jason Steele\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jason Steele\" \/>\n\t<meta name=\"twitter:label2\" 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