RING, RING, “Welcome to the Chump One Bank VISA customer service line. Listen to this message since our menu has changed.” I wonder if there is a vegetarian entrée yet. What follows is what happens if you press 1, 2, 3, or 7, and, blessedly, that you can get a “customer service associate” by pressing 0. You are then asked to key in your account number. “For training purposes, this call might be monitored.” Good, I think. I have a bone to pick with these folks.
“Hello, this is Stephanie. To whom am I speaking with?” I tell her. “For security purposes, please tell me what your major tattoos and body piercings are.” My answer seems to satisfy her and she asks how she can help me.
I say: “I don’t understand. You have charged me $29 for an Overlimit Fee. What is this? I thought that if you reached a credit card’s limit, that further charges were refused.”
Stephanie: “We don’t want to embarrass our card holders by refusing their charges.”
Me: “I even pay my bill early every month, about a week before it is due.”
Stephanie: “Yes, I can see that. However, if you are even a penny over the credit limit in total outstanding charges, you are assessed the Overlimit Fee.”
I become a bit enraged and tell her in angry tones that my wife and I have, between us, three Amex cards and five VISA/MC cards. (Never mind that these are way too many cards to have in the first place and we don’t use all of them anyway.) I tell her I have never been charged such a fee by any card at any time and that this really makes me angry. I let her know I can take my credit card business elsewhere.
Stephanie: “Please calm down, sir. As a courtesy, we can reverse the $29 fee. Is that okay?” I agree that it is. She goes on: “You know, you can set your account so that your card will be refused if you are even a penny over your credit limit. Would you like that?”
Some background is needed here before my response. This credit card was arranged entirely over the phone at an 800 number. The card, with a five-figure credit limit, was immediately approved over the phone and arrived at our doorstep within four days of the call. I never had to file one piece of paper or sign anything for them to give me a VISA with a five-figure credit limit.
Me: “What about increasing the credit limit? How about $x?” It’s not that I think we will be hitting the limit too much, but that I don’t want this kind of hassle to think about every month. And these folks are always foisting higher limits on you anyway. No big deal.
Stephanie: “I will put you on hold to see if we can approve this over the phone or whether we have to run a credit check on you. What is your gross household income, not including child support or alimony payments?” I tell her. I wonder why she has to ask since they must have the response I gave to that somewhere in my records when they so quickly approved my card in the first place. I am put on hold. “We will have to refer this to a credit investigator and you will hear from us in 7 to 9 days whether your limit has been increased. I have reversed your Overlimit Fee. Is there anything else I can do for you today?” I tell her there is nothing else and hang up.
However, later an interesting thought occurs to me. What is the deal that a credit limit is not a credit limit? And if they are willing to let you charge more than your credit limit, how high is up? What is the amount over your stated limit that is the real limit? I mean, what would I be buying with that $29 fee? Finally, I am reminded again to really look at all statements for odd charges. Ever really go over your telephone bill and fully understand each of the little charges you are hit with?
