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I have a discover card that appears to be crediting my account everytime my bill is low. I don't use it except every 3-4 months for a small purchase, and in this case the purchase was forgiven for the amount of $1.18 both times.

What other cards have this "feature?"

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BofA billed at $0.01
Penfed billed at $0.99

VIP1 (Jun. 20, 2008 @ 8:24p) |

yes as of 5-08, i think

zjts (Jul. 12, 2008 @ 8:43a) |

I had a new credit of 2.48, even though a used it 2 days later the freaks sent me a check.

sackoloot (Jul. 15, 2008 @ 1:45a) |

Advanta canceled at $1.00
Advanta billed at $1.20

AMEX billed at $1.99
AMEX billed at $0.01
AMEX canceled at 0.49 (first statement: balance is 0.49 but nothing is due; second statement: balance adjusted to zero)

BofA billed at $0.01/0.03/$0.49/$0.99/$1.00
Best Buy Mastercard billed at $1.10

Capital One canceled at $0.99/$1.00
Capital One Business canceled at $0.99
Capital One billed at $1.01/$1.98/$1.99

Chase canceled at $1.40/$1.49/$1.99
Chase Biz canceled at $1.99
Chase billed at $2.00

Citi billed for everything, even for a measley $0.02
CitiBusiness billed for $0.99

Citi personal "BALANCE REMOVED DUE TO 3 MOS INACTIVITY" ($0.35)
Citi personal "BALANCE REMOVED DUE TO 3 MOS INACTIVITY" ($0.39)
** Citi personal "Removed balance can be re-applied to the acct as payment within 6(?) months" **

Discover canceled at $1.98/1.99
Discover billed at $2.00

Etrade billed at $1.97

Fifth Third billed at $1.96

Hooters (MerrickBank) billed at $1.84
Hooters CANCELED at $1.00

HSBC canceled at $0.92
HSBC billed at $0.95

Juniper(Barclays) billed at $0.01/$1.99

Keybank MC billed at $0.99/$1.98

Orchard Bank (HSBC) billed at $0.99

Macy's Visa billed at $1.00

MBNA billed at $2.02

PNC(Elan) billed at 1.98
PNC(Elan) canceled at 1.00

Providian/WAMU canceled at $0.99/$1.00
Providian/WAMU billed at $1.01/$1.94/$1.95/$1.99

Penfed cancelled $0.71
Penfed billed at $0.99

Pulaski cancelled $1.00
Pulaski billed at $1.99

RBS cancelled $0.99

Sears MC (by Citi) canceled at $0.99 (used to be $5.00 but stopped as of 7/01/07)
Sears MC (by Citi) billed at $1.00
Sears (regular - not MC) billed at $4.99.

SunTrust billed at $1.99

USAA canceled $0.93/$0.99
USAA billed at $1.00/$1.99

US Bank Platinmum Visa billed $1.09
US Bank Worldperks Visa cancelled $1.00
US Bank Worldperks Visa billed at $1.36
US Bank Worldperks Visa billed $0.92 (0n 10/6/07)

Wachovia canceled $1.00, however they did NOT cancel two months in a row

Wells Fargo canceled at $1.00/$1.06/$1.99

Zions Bank Visa canceled at $1.98

have you checked your credit report to make sure they aren't adding it?

Well I was just thinking that if I had 100 of those kinda cards...

highmktgoods said: Well I was just thinking that if I had 100 of those kinda cards...i would find a better use of my time/credit.

BrianGa said: highmktgoods said: Well I was just thinking that if I had 100 of those kinda cards...i would find a better use of my time/credit.

Of course I wouldn't exploit this, that would be silly. However, if I wanted a free bagel one day during the week, I could just grab one of my dormant cards.

My other question is, how much will they tolerate in a single billing period?

I think you may have been lucky. Perhaps certain banks consider the cost of preparing, and mailing a statement too much for such small amounts, they forgive it. They do make something from the merchant. If you do it too often, you may be redflagged, and they also may decide to change their policy. You could paypal yourself free money

discover is well known for this

highmktgoods said: I have a discover card that appears to be crediting my account everytime my bill is low. I don't use it except every 3-4 months for a small purchase, and in this case the purchase was forgiven for the amount of $1.18 both times.

What other cards have this "feature?"


thats not a feature and i bet its going to bite you later, when was the last time you checked your CBR?

It's not on my CBR, and I have credit monitoring. It happened several months ago too. It shows up as a statement credit. The description says: "SMALL BALANCE CREDIT" and the catagory it falls under is: "Payments and Credits."

I think that they realize that it would cost them more to send a paper statement and process it than if they just forgive that amount. It was never my intention to be stingy or to exploit this, I just noticed that there is a pattern with Discover.

Interesting that you should mention this. My wife has an old Providian card that she doesn't use any more, and they forgave a $1 charge this month. (I used this card to confirm a change of address at usps.com. It was the only card she had where we hadn't changed the billing address.) As you say, you're not likely to get rich by taking advantage of this, but if I can use my Discover card and her Providian Visa to get two free bagels a month, that would still make me happy.

PolarDude said: I think you may have been lucky. Perhaps certain banks consider the cost of preparing, and mailing a statement too much for such small amounts, they forgive it. They do make something from the merchant. If you do it too often, you may be redflagged, and they also may decide to change their policy. You could paypal yourself free money

Since we are not asking Discover to "forgive" the small balance. They do that voluntarily. How can they redflagged you because your spend habit(only charge a small amount in a month)?

I think you are fine to take advantage on this, until they fix it and decide not to "forgive" anymore.

highmktgoods said: My other question is, how much will they tolerate in a single billing period ?Once, since, as you said, its a SMALL BALANCE CREDIT not a small charge credit.
Discover 1.99
Capital One 0.99

Chase cancelled my bill everytime and give an adjusted credit for $1.08 Double Cheeseburge McDonald, I ate once a month.

If you check the Chase Sony Visa thread, people have noticed their $1 charges getting credited.

My charge of $3.14 to the Chase Sony card was billed.

WalStMonky said: My charge of $3.14 to the Chase Sony card was billed.

From the answers, it seems like Chase will automatically credit for any balance up to $1-2 and will bill if the balance is higher than that. We can do some experiences if we have large samples to get the exact number. It could be $1.50 or $1.99?

I've been charging $1.00 on my Wells Fargo Visa for almost a year now, and they have always adjusted my balance to $0. I haven't tried anything more than $1.00, so I'm not too sure where the limit is.

I usually make the charge via eBay's 'one-time payment' method. It's like 1 free insertion a month.

SilverB18C1 said: I've been charging $1.00 on my Wells Fargo Visa for almost a year now, and they have always adjusted my balance to $0. I haven't tried anything more than $1.00, so I'm not too sure where the limit is.

I usually make the charge via eBay's 'one-time payment' method. It's like 1 free insertion a month.


I've charged 1.06 and they have adjusted it. For the upcoming month, I am testing 1.15. We'll see what happens.

PolarDude said: I think you may have been lucky. Perhaps certain banks consider the cost of preparing, and mailing a statement too much for such small amounts, they forgive it. They do make something from the merchant. If you do it too often, you may be redflagged, and they also may decide to change their policy. You could paypal yourself free money

Ahhhh, ok. First month I had my Chase Cash Rewards card I only used it to buy one $1.25 metro ticket, and it got canceled on the bill. I was wondering what happened to that charge.

A Chase purchase of $0.60 was adjusted ("CREDIT ADJUSTMENT" at statement close), as was a Discover purchase of $1.76 ("SMALL BALANCE CREDIT" at statement close).

I have read somewhere or heard that it costs about $3 to prepare and mail a paper bill. However, I am skeptical of that figure with the economies of scale these large issuers enjoy. They get discounted postage, buy their envelopes wholesale, and the entire mailing is almost completely computer generated and automated. I did enjoy letting Juniper bank bill me for a recurring monthly charge of $4.95 for almost 3 years after they annoyed me by trying to withhold rebates that were due me. Ah my, the days when you could charge US savings bonds, good times.

silvr said: SilverB18C1 said: I've been charging $1.00 on my Wells Fargo Visa for almost a year now, and they have always adjusted my balance to $0. I haven't tried anything more than $1.00, so I'm not too sure where the limit is.

I usually make the charge via eBay's 'one-time payment' method. It's like 1 free insertion a month.


I've charged 1.06 and they have adjusted it. For the upcoming month, I am testing 1.15. We'll see what happens.


I'll do $1.49 then.

On my MBNA AAA card, I had a $2.02 balance. It did NOT get credited. Worse yet, this was when MBNA was getting switched to BofA, so the online banking system was down. I ended up using MyEasyPayment.com to pay, and the lowest I could pay using that site was $20.00

Haha, guess it doesn't hurt to have a $17.98 positive balance

this reminds me of the thread on folks using the trial deposit thing with the online savings banks to get rich...maybe combine with the bofa keep the change thread for a master thread "how to get rich 1 buck at a time"

WalStMonky said: My charge of $3.14 to the Chase Sony card was billed.
Yes, Pi must be the solution!

Funny reading this thread and seeing people trying to nickel and dime free money on a card. Could come back to haunt you someday. Maybe the issuer rejects you for a new card or a small payment you thought got written off goes as a late payment and crashes your score.

scott1961 said: Funny reading this thread and seeing people trying to nickel and dime free money on a card. Could come back to haunt you someday. Maybe the issuer rejects you for a new card or a small payment you thought got written off goes as a late payment and crashes your score.

Not even the proverbial snowball's chance of the above. These credits are plainly printed on the statement. You may as well say that payments made and credited could come back to bite you. Red for you for being an alarmist with no basis whatever.

Interesting...does anyone know if you still get these credits if you have all electronic statements?

WalStMonky said: scott1961 said: Funny reading this thread and seeing people trying to nickel and dime free money on a card. Could come back to haunt you someday. Maybe the issuer rejects you for a new card or a small payment you thought got written off goes as a late payment and crashes your score.

Not even the proverbial snowball's chance of the above. These credits are plainly printed on the statement. You may as well say that payments made and credited could come back to bite you. Red for you for being an alarmist with no basis whatever.

Not sure how you can say that it will not affect getting another card from the issuer. when I recently applied for another card from Chase I asked for a high CL, They told me the highest my balance ever was on my other card was like $1,200 and this made it a bit more difficult to get the CL I was looking for. Point is they had all my info on my old card while I was trying to get the new one. Not saying that having that happen once is going to hurt you but we have people here wanting to find a way to do this over and over again. I would not want an issuer seeing a repeated pattern of this on me Plus I think I would feel like some sort of charity case having them write off a couple dollar charge. good chance I am completely wrong but the rewards are not worth even taking the smallest risk that something negative could come out of it

I think that is an interesting question. But cc issuers will still have some costs in electronic payment processing. Only way to find out is to test it.

WalStMonky said: scott1961 said: Funny reading this thread and seeing people trying to nickel and dime free money on a card. Could come back to haunt you someday. Maybe the issuer rejects you for a new card or a small payment you thought got written off goes as a late payment and crashes your score.

Not even the proverbial snowball's chance of the above. These credits are plainly printed on the statement. You may as well say that payments made and credited could come back to bite you. Red for you for being an alarmist with no basis whatever.


As long as you can confirm the credit card issuer zero'd the balance. Don't just assume that if you get a bill for a couple of dollars, that you shouldn't bother paying it, and wait until it's a bit bigger. The bank might not care, but the way their computers are programmed, a late payment in a given month is a late payment, no matter how small. It can get reported to the credit bureaus, really hurting your score. So pay those small bills!

I never mispayed my Gap Credit Card card bill one time and there was a $2 and change balance that carried for 2 months (I never checked the e-statements because I knew I didn't go there for those months and thought everything was paid).

When I finally looked at the bill on the third month I was shocked to find that the $2 amount left turned into about $25 (two late fees and interest!). It also showed up on my credit report.

I called them up and they removed one late fee and took back the information they had sent to the credit companies. So in the ended I was only out and extra $10-$11.


All over $2!

Advanta cancelled a $1.00 charge for me.

SilverB18C1 said:

I usually make the charge via eBay's 'one-time payment' method. It's like 1 free insertion a month.


dirty

i wonder if this works if you have e-statements? they shouldn't lose much money electronically billing you for a small purchase.

Call me cheap - but I often do this with some of my cards. For example one of my chase cards carries a BT at close to 90% of its $37k line and I have 3 other chase cards that I don't use. So once a month when I'm at a gas station I pump gas for $1.99 on each one of them. The bill always prints at $0.00 as chase issues what they call a "credit adjustment".

Same goes for discover - I have one card w/ 0% for life of balance and the second card stays dormant. So I use that one in the same way - balances up to $1.99 get cancelled with a "small balance credit". Last month I overshot and got exactly $2.00 balance - and this one didn't get cancelled.

I know that none of the citi cards cancel the balances - once I had a $0.25 balance and it got billed.

Do I feel bad? Not really - it keeps my cards active, it keeps them at 0% utilization and it nets a few bucks a month. It's not much, but people have done much more work to get much less in return.

BTW - I have electronic statements on all these cards - so paper/electronic doesn't make a difference.

jairocon said:
BTW - I have electronic statements on all these cards - so paper/electronic doesn't make a difference.


nice! thanks for the info.

I've NEVER had ANY balance cancelled by a cc issuer in my life.

I know that there's a Citi 0% card out there that necessitates two purchases/month to keep the 0% rate. Someone advocated charging a pack of gum twice a month or arranging small charges from PayPal. Perhaps folks with this card should make sure that their charges are over $2 each.

Has anyone ever tried almost paying off their card before the statement closing date to see if a small balance created that way would be cancelled?

For example, let's say I spend $250 this month using my Chase card, and then pay $248.01 before the statement closes. Will they cancel the remaining $1.99?


I am admittedly concerned that this is one of the "perks" we'll see disappear once people start abusing it.

Yes, and they charged interest against the ADB

Skipping 223 Messages...
iloveshortskirts said: Does Citi still charge for something as low as a penny? Any updates from anybody? Thanks in advance.
I had a new credit of 2.48, even though a used it 2 days later the freaks sent me a check.



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