I have had this account for decades and was one of those customers who were assessed additional fees and an increased min payment in violation of the terms of their original agreement years ago. They were sued for this behavior and lost, so I figured they had learned their lesson but I guess not. It also may be that my account is "flagged" because of the earlier lawsuit and other customers may not be assessed the higher min payment they hit me with.
Does anyone know if this is illegal? considered deceptive advertising if they don't note the higher min payment in the offer?
FYI, their nonsensical explanation was this (which is not printed in the offer or anywhere else that I can see)
I understand your concern and I'll be happy to review your
account. Your minimum monthly payment will be the highest
amount of the following to ensure that 1% of the minimum
payment is applied to the principle balance:
- $10.00 (or the amount of the balance if it is less than
- 5.00% of the balance
- The sum of 1% of the new balance, the periodic interest
charges billed; and late fees that we have billed you on
the statement for which the minimum due is calculated.
Statement minimum due includes past due balance if any.