The old thread is archived and closed, sadly, although I would prefer a mod to open it again. (hint, hint)
The concensus is that Chase now cancels at $.99, previously $1.99.
Please add other data points.
Equally, it would be useful to compile a list below of ultra cheap purchases ($4 or less and especially $2 or less) that can be made with a credit card.
Advanta canceled at $1.00/$0.99 (May 2009) 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) AMEX billed/canceled at $1.00 on odd/even months respectively
Associated Bank (Elan) canceled at $1.00 (Dec 2011) Associated Bank (Citi) billed at $1.00 (March 2012)
BofA billed at $0.01/0.03/$0.49/$0.99/$1.00 BofA Personal Line of Credit (NOT a credit card) canceled at $1.99, $2.26, $2.89
Chase now cancels $0.99, previously $1.99 (Apr 2012)
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" **
Citizen's Bank Business Card billed at $1.00 Citizen's Bank Business Card CANCELED at $.99
Citizen's Bank (former RBS) cancelled at $.99
Discover canceled at 1.99 (May 2012) Discover billed at $2.00
PNC(Elan) billed at $1.98 PNC(Elan) canceled at $1.00 PNC(Elan) canceled at $1.00 on 01/08/09 PNC(Elan) billed at $1.00 on 02/08/09 PNC(Elan) cancelled at $0.99 on 03/10/09 PNC(non-Elan since Oct'10) billed at $0.99 on 11/10/10
Providian/WAMU canceled at $0.99/$1.00 Providian/WAMU billed at $1.01/$1.94/$1.95/$1.99
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.
Sallie Mae 5% billed at $0.99
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) US Bank Baylor Alumni canceled $1.00 (1/8/09) US Bank Flexperks Visa cancelled at $0.89 (10/27/11)
Wachovia canceled $1.00, however they did NOT cancel two months in a row. Wachovia (Signature VISA) did not cancel $1.99 (06/23/2009) Wachovia (Signature VISA) did not cancel $0.99 (07/23/2009)
Wells Fargo canceled at $1.99 (Sep 2010) ... even on former Wachovia card (Signature VISA)
While interesting, is it really worth spending time on $1.99/month with Discover? You'd have to be aware of the small amount, and verify your statement for the credit.
walletfart said: While interesting, is it really worth spending time on $1.99/month with Discover? You'd have to be aware of the small amount, and verify your statement for the credit.(#ofchasecards + #ofdiscovercards) * $1.99 adds up. Do this 12 times year and you could be a millionaire in 8,192 years even without interest.
If you have a stack of these cards, you can do them all at once and put a few gallons of gas in the tank to make it worthwile. It also may have the side benefit of keeping the cards active since they have had activity on them.
Chase Perfect, Chase Freedom and Chase Amazon Rewards all billed at $1.99 on or after 11/15/08. Chase United Mileage Plus was my last Chase card not to bill for $1.99 on 11/3/08. There must have been a policy change between the 3rd and the 15th.
Chase was still working as of 11/8/08 at $1.99. In case people are trying to pin the *exact* date it died, lol.
Sounds like caput for sure with these reports...just as I was looking forward to my seldom used Wamu cards to get converted to Chase they kill it. Oh well, let's try $0.99 and $1.00 just for kicks ;p
I'm sorry to hear they billed under 1.99 because I tried to schedule payments under 1.99 and Chase wouldn't take it, thought maybe 1.98 might work.
While interesting, is it really worth spending time on $1.99/month with Discover? You'd have to be aware of the small amount, and verify your statement for the credit.
Yes indeed, it was/is for me. What is the cutoff point in your mind for spitting on free money? I've started throwing away pennies in change, so I guess mine is $0.04. In my thread someone asked much the same question, and I calculated that it's about $225/hr after taxes. Wow, it's so much effort to open a new tab while I'm doing other stuff and have roboform log me in...
WalStMonky said: I'm sorry to hear they billed under 1.99 because I tried to schedule payments under 1.99 and Chase wouldn't take it, thought maybe 1.98 might work. You can schedule payments for $1.99 and under (on Chase's website) only if they are the current balance or minimum payment, you can't enter them as a different amount.... as of: 11/19/2008 11/19/2008 External Withdrawal CHASE - EPAY -$1.96
My concern is if the charge doesn't vanish by the time you get your second (or third) bill with the few cents still showing, that a credit card issuer might not only ding you with a late fee, but will report you past due to the credit bureaus. Is that worth it just to save some pocket change?
marpole said: Chase Perfect, Chase Freedom and Chase Amazon Rewards all billed at $1.99 on or after 11/15/08. Chase United Mileage Plus was my last Chase card not to bill for $1.99 on 11/3/08. There must have been a policy change between the 3rd and the 15th.Let's play the game. I'm turning off paperless delivery (they will mail paper statements) and will try $1.99 for a few months on each of my chase cards.
burgerwars said: My concern is if the charge doesn't vanish by the time you get your second (or third) bill with the few cents still showing, that a credit card issuer might not only ding you with a late fee, but will report you past due to the credit bureaus. Is that worth it just to save some pocket change?
So pay when your billed and no worries. Why is that more of a problem with a balance of 1.99 rather than 19,999.99? Anyway, you'd get a late fee if you didn't pay by the due date, it wouldn't slide until the second or third billing. Really, it only requires an IQ of about 80, perhaps even less, to pay your bills on time.
alpinewhite said: Let's play the game. I'm turning off paperless delivery (they will mail paper statements) and will try $1.99 for a few months on each of my chase cards.
I'm afraid that won't work. I've always had paper statements and never got billed for <$2.00 through 11/11/08. On 11/18/08 Chase mailed me a bill for $1.90.
Just received my Chase Sony card bill and they billed me at 1.99$. There goes my 240$/ year . Hopefully discover will continue the trend. At least I can make 120$/ year
Concur about chase LaSalle MC billed $1.99 for the first time on November statement. A Sony card also billed $1.99. Will try 0.99 next - see if that's the new $1.99. I also wonder if switching paper statements back on would have any effect.
Economist said: Concur about chase LaSalle MC billed $1.99 for the first time on November statement. A Sony card also billed $1.99. Will try 0.99 next - see if that's the new $1.99. I also wonder if switching paper statements back on would have any effect.
No. It won't have any effect. I have paper statements for all my cards.
If I understand this correctly, you charge something, for example $20. Then, you pay $19 when the statement comes, knowing that the credit card company will not bother billing for the $1? Or am I totally off here? Thanks. andoldlacev
You're off. You charge $20, and pay $19 BEFORE the statement cuts, then they zero it out and don't ask you for anything (for reasons unknown to us). You always pay what they ask you to pay.
diljs said: Don't think $0.99 is worth the effort if that's the new number.If 99 cents is the new number, I will be charging $1.00 to my cards monthly and paperless statements will be off. Better yet, I will pay $1.01 after I get my bill for $1.00 so they will then send me another statement for the subsequent month. This way, I only have to use the card once every two months.
Chase billed for $1.99 on each of 3 cards on their 11/28 statements. Will try $.99 for next month (it takes less than a minute to process each charge, and will still net $36/year for less than 1/2 hour time investment)
jennatx said: WalStMonky said: I'm sorry to hear they billed under 1.99 because I tried to schedule payments under 1.99 and Chase wouldn't take it, thought maybe 1.98 might work. You can schedule payments for $1.99 and under (on Chase's website) only if they are the current balance or minimum payment, you can't enter them as a different amount.... I believe the smallest payment allowed in Chase system is $1.00. You have to pay no less than a dollar. In other words, if your bill is $0.95, you have to pay $1. You can't arrange a payment in the amount of $0.95.
BTW, in November, all my Chase cards were billed for small balance. I guess I can't game the system no more.
Quoting above post:"BTW, in November, all my Chase cards were billed for small balance. I guess I can't game the system no more" Were the small balances LessThan $1 or between $1 7 $1.99?
zjts said: Quoting above post:"BTW, in November, all my Chase cards were billed for small balance. I guess I can't game the system no more" Were the small balances LessThan $1 or between $1 7 $1.99? They were all more than $1.00. I am guessing Chase had fixed their system not to automatically adjust the accounts.
Not sure what day the "new" system went into effect though, since there were few still getting credit adjustment in late November.
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