In Feb 2013 I took out a car loan in the amount of 20,532.00 from First Merit Bank. I've been paying on it with them until earlier this year when Huntington bought them out. Everything has stayed the same, no biggie but in the last 5 months or so I've been paying extra principal only payments. Now these are seperate payments. I go in usually every week with something extra. Sometimes they apply them to principal only, where other times they have went to my regular payment which is wrong. My car will be paid off at the end of October. 10 months early.
And today I got a credit alert from Experian saying I have a credit line increase. The original amount of my car loan went from 20,532.00 to 20,768.00. I don't see any reason why that number would change. It hasn't changed in 4 1/2 years. My balance yes, but not the original amount of the loan. Are they trying to sneak a few hundred dollars on there to milk out any extra interest from me that they can since they know I'm paying this loan off fast? Seems really fishy to me. Thoughts?
