Credit Repair: Unknown Finance Charge

by Laura
(Sorrento, FL)

I had a Belk charge card. I got it to build credit so I bought something small and then paid it off.

I got a bill the next month and they tried to charge me a finance charge. I called them and they told me not to worry they would take it off.

A few months later I got a letter from a collection agency for a lot more. I called everyone and finally got it all cleared up.

I got lucky and did not have to pay anything.

Mom's Comments; Laura, You did get lucky. You also made a great choice in using a card wisely to build your credit.

Use it for one small purchase and then pay it off. Every month. It builds a credit history with consistent use and prompt payments.

It is unfortunate that you were wrongly charged fees and then sent to collections. You did a great job staying on top of it and making those phone calls.

Sometimes I think people are scared to call anyone and what you did just goes to show that there is value in calling creditors and disputing finance charges.

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