California  |  Credit and Debt Law

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4/29/07, 4:08 pm

Legal Question

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.


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