Legal Question in Credit and Debt Law in California
credit card bait/switch interest rate
We transferred an 8m debit balance to a card advertising 1.99 apr. They first bill showed a daily rate of 1.99 and annual rate of 37%. We reversed the trf to the original card but are now billed for $265 interest. Is this legal? Do we have any recourse under Fed or state law or are we stuck? We are in CA and this bank is in Omaha. Many thanks.
Asked on 4/29/07, 4:08 pm
1 Answer from Attorneys
Amy Kleinpeter
Clark Kleinpeter Law
Re: credit card bait/switch interest rate
There may be violations of law here, but it would require examination of all the paperwork such as that original advertisement.
You could make a consultation with a local consumer attorney and bring your paperwork.
-- Amy Kleinpeter
Answered on 4/29/07, 6:14 pm
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