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Credit Card held my payment until after due date and charged me a fee

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   posted: Apr. 7, 2008 @ 1:11p
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A few months ago I got my new credit card bill in the mail and the very next day I mailed my payment in. It was due in 12 days. Trouble was the credit card company told me that they had not recieved my payment until a day after the due date. So they charged me a late fee. Now I have it deducted out of my bank account, which makes me nervous, but seems like the only way to avoid the scam they are putting on.

Is this common?

   posted: Apr. 7, 2008 @ 1:11p

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   posted: Apr. 7, 2008 @ 1:17p
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conversation said:A few months ago I got my new credit card bill in the mail and the very next day I mailed my payment in. It was due in 12 days. Trouble was the credit card company told me that they had not recieved my payment until a day after the due date. So they charged me a late fee. Now I have it deducted out of my bank account, which makes me nervous, but seems like the only way to avoid the scam they are putting on.

Is this common?What did the credit card issuer say when you called?

   posted: Apr. 7, 2008 @ 1:19p
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Is it possible it just got lost in the mail? Have you called and asked the fee to be waived? You are perfectly safe having them pull directly from your bank account, it is probably safer then mailing payments. At any rate no matter what the method of payment, it is always a good idea to check to make sure your payment has posted before the due date.

If banks were holding payments on purpose to collect late fees and it came out (which it undoubtably would), you would see more lawsuits then you could believe. I doubt this is a "scam" as you put it.

   posted: Apr. 7, 2008 @ 1:25p
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conversation said:A few months ago I got my new credit card bill in the mail and the very next day I mailed my payment in. It was due in 12 days. Trouble was the credit card company told me that they had not recieved my payment until a day after the due date. So they charged me a late fee. Now I have it deducted out of my bank account, which makes me nervous, but seems like the only way to avoid the scam they are putting on.

Yes the best thing is to have it deducted from your bank account. That way you can control the exact date that your bill is paid. Otherwise you (1) mail a check in too early and they cash it and you lose the float or (2) mail the check in later and they "don't get it in time". Not to mention the money you will save on stamps.

   posted: Apr. 7, 2008 @ 1:50p
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My older brother ate the last cookie and told my parents I did it. Is this common?

   posted: Apr. 7, 2008 @ 2:18p
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pmanager said:My older brother ate the last cookie and told my parents I did it. Is this common?If my kids are anything resembling typical, then yes, it is common.

   posted: Apr. 7, 2008 @ 2:25p
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Meh.. Call them and ask them for a customer courtesy to waive the fees.

I did that two weeks ago. Called in to my CC and said, "I know I was 1 day late on my payment, but could you extend a customer courtesy and waive the late fee and finance charge?"

Saved about $200. (I had made a LARGE purchase the month before)

   posted: Apr. 7, 2008 @ 8:17p
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It's been years since I heard any stories of credit card issuers holding payments to make them appear late. I don't remember which one was caught in the practice. I think it was once people started using bank bill pay and payments were still "late" was the credit card issuer caught red-handed.

That's not the say that this situation is such a case but I had heard stories in the past.

   posted: Apr. 7, 2008 @ 8:33p
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What in the heck does it mean to 'mail' your payment?

   posted: Apr. 7, 2008 @ 8:38p
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WalStMonky said:What in the heck does it mean to 'mail' your payment?

I think it is like sneaker net, only slower.

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