Hosed by the credit card company????

[SleepingZ]

Just want your opinions if I got hosed.

Wife's credit card bill comes due, statement reads New Balance-$1200.00 Minimum payment $15.00 Due Date Feb. 03, 2010


Wife decides to pay it off, sends them a check for $1,200.00 they receive it Feb. 1, 2010 We get a bill today for $2 and change---they call it finance charge. Whats up with that. We paid the new balance in full, and they received it before the due date.

Who is right, do I owe, or are they "reproducing" me???


Z


Z

[DefensiveCarry.com]

[Rock and Glock]

What does the fine print in the credit card agreement say? That'll be the controlling document.

I don't understand the $2, but it not my credit card.

[jca1]

interest accrues daily, so from the day the statement was printed to the day the monies were received it accrued some interest.

[reyno2ac]

My girlfriend ran into the same problem. We ended up canceling the card and sending in a couple extra dollars just to avoid ever hearing from them again. Good luck.

Credit Card Companies =

[Hopyard]

Just want your opinions if I got hosed.

Wife's credit card bill comes due, statement reads New Balance-$1200.00 Minimum payment $15.00 Due Date Feb. 03, 2010

Wife decides to pay it off, sends them a check for $1,200.00 they receive it Feb. 1, 2010 We get a bill today for $2 and change---they call it finance charge. Whats up with that. We paid the new balance in full, and they received it before the due date.

Who is right, do I owe, or are they "reproducing" me???
Z
Z

Technically you probably got treated however your contract says you should be treated, but that doesn't mean you didn't get hosed.

Some of those card companies are pretty much slime-- others not so much. Congress doesn't have the will really do reform. Oh they have made changes which go into effect this month, but the companies are already finding ways to run around the new rules.

The real problem stems from a SC ruling years back which was off base. Prior to that ruling each state could enforce its own usury laws. After, the law of the state in which the card company is headquartered became controlling. What that allowed to happen is for ONE state to abolish their own usury laws, thus attracting the credit card companies and JOBS, to an otherwise almost uninhabitable part of the country. Great for one of the Dakotas, bad for the rest of us.

[atctimmy]

You can thank the Government. The new credit law they passed changed how credit card companies can charge you. It's the new way of doing business.

[dukalmighty]

My credit card company gets paid online and before due date,I never get rode for xtras

[CBXMan]

Did you pay the bill in full the previous month? If not you would have owed some interest on any remaining balance. I screwed up one time and got the last two numbers backwards and had to pay some interest. For example, my bill was 345.86 and I sent them 345.68 which meant I was 18 cents short, so the bill wasn't paid in full.

[wmhawth]

Hosed by the credit card company????

--------------------------------------------------------------------------------

Just want your opinions if I got hosed.

You're dealing with a credit card company. Of course you got hosed.

[Ghuqu2]

Call, talk nicely to them and see if they would remove the charge for a valued customer. Many times a quick call works. Just remember more flies are caught w/ honey then vinegar.

[paramedic70002]

Pay the $2 and be happy your credit is still good.

[monk]

Bottom line make all your payments in full / no mistakes / BEFORE on time.
Pay the $2 , and look at it as a fee for learning what dealing with people that care more about a dollar than ethics is like. If we don't learn from our mistakes......etc;etc.

[SleepingZ]

Bottom line make all your payments in full / no mistakes / BEFORE on time.
Pay the $2 , and look at it as a fee for learning what dealing with people that care more about a dollar than ethics is like. If we don't learn from our mistakes......etc;etc.

If you read my thread, the payment was in their hands 2 days early, they never said we were late. The payment was in full, to the exact penny.

I called the company, talked to someone from a different planet, he spoke Marnishin he didn't know anything.

I did not ask that they remove the fee, I thought he may have offered to do that. We mailed the $2 to them today. We have excellent credit, and won't tarnish it over $2, just won't use that card anymore.

Z

[WHEC724]

A lot depends on the credit card company. I dropped my Harley Davidson VISA for similar reasons.

On the other hand, I was once late for a payment on my AMEX a few years ago. They called me (I was on vacation and simply forgot) to see if everything was okay. Since I had the card for over 20 years and never missed a payment, they took the charges off!

[MattInFla]

If you read my thread, the payment was in their hands 2 days early, they never said we were late. The payment was in full, to the exact penny.

I called the company, talked to someone from a different planet, he spoke Marnishin he didn't know anything.

I did not ask that they remove the fee, I thought he may have offered to do that. We mailed the $2 to them today. We have excellent credit, and won't tarnish it over $2, just won't use that card anymore.

Z

Here's the thing - the payment due date is a few days after the statement period ends.

So for the couple days between the end of the statement period and the date they receive the payment, they charge you interest on the balance.

Happened to me when I paid off a couple cards as well. It's just their way of sticking it to you one last time

MAtt