Legal Question in Credit and Debt Law in Maryland

if a company chooses to contany lower the credit limit on an account to below to current amount to the account so that any payment to the account is only touching the instrest is that justifiable to be called credit card frod on the part of the company


Asked on 5/02/11, 11:43 pm

1 Answer from Attorneys
Paula McGill Paula McGill Attorney at Law

Although it appears to be fraud and an attempt to pad the company's income statement, your contract probably allows this action to take place.

In any event, the best thing to do is contact the Maryland Attorney General's consumer protection division. http://www.oag.state.md.us/consumer/ . I'm quite sure they have handled similar complaints against the credit card companies as the banks hunt for ways to expand their bottom line.

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Answered on 5/04/11, 3:21 am


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