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Charged Off (Paid) Secure Credit Card

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Anonymous
Not applicable

Charged Off (Paid) Secure Credit Card

Hello

I need some advice. I opened a secure credit card under the impression it was a credit line on my savings account. I didn't understand the 5 minute process. After making two/three purchases I realized this was not a savings account and it had nothing to do with my checking accounts. I paid what the card (800 number on back of card) told me too. Closed it immediately. Not knowing that I owed $35 until 2 years later when checking my ccreditso I can buy a home. I did pay $35. What do I do? The bank (Academy Bank) is not offering any solution to offering products under a misrepresentation. Now it has affected my score.
Message 1 of 7
6 REPLIES 6
RobertEG
Legendary Contributor

Re: Charged Off (Paid) Secure Credit Card

Was the $35 the annual fee on the card, and if so, did you close the account prior to the second annual fee becoming due?

Message 2 of 7
Anonymous
Not applicable

Re: Charged Off (Paid) Secure Credit Card

Not sure. I had the card 1 to 2 weeks. Card was $0 balance when I closed it. Now its $35
Message 3 of 7
RobertEG
Legendary Contributor

Re: Charged Off (Paid) Secure Credit Card

Then file a dispute of the accuracy of reporting a charge-off when you had no delinquent debt.

Message 4 of 7
Anonymous
Not applicable

Re: Charged Off (Paid) Secure Credit Card

I tried that and it didn't work. The bank refuses to delete this from my account or update or reverse it in good standing. I find it very upsetting that a company can tell you anything and take no REAL responsibility of this. Sorry is not good enough.
Message 5 of 7
RobertEG
Legendary Contributor

Re: Charged Off (Paid) Secure Credit Card

Next step:  Small claims court.

A judge can certainly require remedy.

Message 6 of 7
Anonymous
Not applicable

Re: Charged Off (Paid) Secure Credit Card

I think I will go that route. Thank you for your help.
Message 7 of 7
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