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jackcrawfish (in July 2009) said: US Bank billed for $1.99US Bank billed for $0.99

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Ahh, I remember the good old days when Sears canceled at $5.00 and Chase at $1.99.

Anyways, not anything new to add myself other than Chase and USAA are still working at $0.99 and Discover at $1.99. You can also pre-pay before your statement cuts your entire balance minus those amounts above will get waived as well.

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ChrisV said: ... You can also pre-pay before your statement cuts your entire balance minus those amounts above will get waived as well.

Just make sure to take into account the CashBack rewards you may be getting too.

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cyberkost said: ChrisV said: ... You can also pre-pay before your statement cuts your entire balance minus those amounts above will get waived as well.Just make sure to take into account the CashBack rewards you may be getting too.Nowhere else in any online finance community ... any investor group forum ... nor in any Warren Buffet fan club can you find a more frugal penny pinching group of people.

Long live the FatWallet crowd!

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cyberkost said: ChrisV said: ... You can also pre-pay before your statement cuts your entire balance minus those amounts above will get waived as well.

Just make sure to take into account the CashBack rewards you may be getting too.
Just because you pay off the balance before the statement cuts doesnt mean you lose the rewards for purchases made that statement. One does not affect the other. And the $.01 reward (assuming 1%) lost from a $.99 credit posting is dwarfed by the $.99 credit.

Or do you mean the rewards lost from using a small balance credit credit card, instead of your favorite rewards card?

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Glitch99 said: cyberkost said: ChrisV said: ... You can also pre-pay before your statement cuts your entire balance minus those amounts above will get waived as well.

Just make sure to take into account the CashBack rewards you may be getting too.
Just because you pay off the balance before the statement cuts doesnt mean you lose the rewards for purchases made that statement. One does not affect the other. And the $.01 reward (assuming 1%) lost from a $.99 credit posting is dwarfed by the $.99 credit.

Or do you mean the rewards lost from using a small balance credit credit card, instead of your favorite rewards card?
I think he's referring to rewards cards that post CashBack as statement credits.

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Yeah, the formula should be
payment (to hit before statement closes) = (projected) balance - anticipated CashBack - 0.99 (or $1.99 for Discover)

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Anybody having any luck with Elan?
My PNC (Elan) is billing me now for $.99.

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alanmax said: Anybody having any luck with Elan?
My PNC (Elan) is billing me now for $.99.

Dunno ... my last ($0.99) credit adjustment on PNC/ELAN card has a date of 01/08/2010.

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cyberkost said: alanmax said: Anybody having any luck with Elan?
My PNC (Elan) is billing me now for $.99.

Dunno ... my last ($0.99) credit adjustment on PNC/ELAN card has a date of 01/08/2010.


Thanks.

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Chase January 2010 .99 cancelled

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Chase Amazon billed me for $1.20 - Jan 2010 paper statement

Chase Slate also billed me for $1.20 - Jan 2010 paper statement

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PNC/ELAN billed me $0.99 also. Looks like they've found this thread

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bas2000 said: Chase Amazon billed me for $1.20 - Jan 2010 paper statement
Chase Slate also billed me for $1.20 - Jan 2010 paper statement
note that the Quick Summary already says "Chase now cancels $0.99, previously $1.99"

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govenar said: bas2000 said: Chase Amazon billed me for $1.20 - Jan 2010 paper statement
Chase Slate also billed me for $1.20 - Jan 2010 paper statement
note that the Quick Summary already says "Chase now cancels $0.99, previously $1.99"


ya I saw that of course.

thanks for pointing it out again... i didn't charge $1.20 on purpose, just came out like that with the coupons since they didn't double and should have.

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GM Flexible earnings card billed at .99

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highmktgoods said: GM Flexible earnings card billed at .99That would be issued by HSBC?

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wow. small trick

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They billed $0.07 for my Flex card back in JUNE 2009

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Glitch99 said: highmktgoods said: GM Flexible earnings card billed at .99That would be issued by HSBC?
Yes, that's the one. Sorry I didn't mention that.

One of the things which makes this trick work (and which I failed to do on this particular card) is to check the servicer. I'm going to mark all my cards with the max amount that I can get via this trick so that I don't waste time paying .99 cent bills.

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Forgive me if this has already been brought up, but does it make a difference to any issuers if you have paperless statements? It's a lot cheaper for them to send a $.99 bill electronically than it is to send a paper statement in the mail. If the banks ever get their heads out of their asses, they might start charging customers who do everything electronically, but still forgive small amounts to those who continue to get paper statements.

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I'm not sure about two posts above (though I know EugeneV as a very diligent FWFer). My PNC (Elan) statement just closed:
Transaction Date 	Posting Date 	Description 	Credit          	Charge
 03/08/10 	03/08/10 	CREDIT ADJUSTMENT  	$0.99 	 
 03/05/10 	03/05/10 	PAYMENT THANK YOU  	$2.01 	 
 03/03/10 	03/04/10 	VERIZON*ONETIMEPAY 800-VERIZON TX  		 $3.00

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Discover Card billed me at $1.99. I got a $0.48 finance charge. That is a 24% interest rate! I wonder why some were able to get their bills canceled.

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theboogeyman said: Discover Card billed me at $1.99. I got a $0.48 finance charge. That is a 24% interest rate! I wonder why some were able to get their bills canceled.I think most people here are talking about the $1.99 being credited on the same statement that it was charged, so you have $0 due for that statement (and even if they don't credit it, there's no finance charge / interest involved). It sounds like maybe you hadn't paid your balance in full in the past couple months, so you were charged interest on that older balance? Or after your statement closed, you paid all of it except for $1.99? (to get the credit you would've had to pay all but $1.99 before the statement closed, not after)

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theboogeyman said: Discover Card billed me at $1.99. I got a $0.48 finance charge. That is a 24% interest rate! I wonder why some were able to get their bills canceled.You did it wrong. Do it right, and you see if the credit posts well before any interest charges are incurred.

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cyberkost, try it again next month please. Maybe they credit the fee if you made at least one payment, but not if you just charged $0.99? Or they cancel it once, but not the following month?

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I'm doing it every month (always in "charge X, pay X-0.99 before statement cuts" way, as I don't have a place that accepts 0.99 charges) ... but I only have a small window between 3rd of the month (when bills I can pay with this card become available) and the 8-10th (when statement cuts), so I missed it a couple of times. I did miss Feb'10 (but was successful in Jan and Mar), so "every other month" theory may have some validity.
The reason I want to squeeze my activity into the narrow window between the 3rd and the 9th of the month is that PNC seems to report to Credit Bureaus on the 1st of the month, and a string of $1 balances over many months may look suspicious .. I'd much rather have a string of $0 balances with would look as a plain "unused card".

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04/07/2010 -- another $0.99 "adjustment" on PNC card.

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evidence (70.85kB)
Disclaimer
On June 29, 2009 cclyde said: Kroger Personal Finance (RBS) billed $0.39.I just received a small balance credit (clearing adjustment) for $0.99...

PAYMENTS AND CREDITS 
03/15   03/15   PAYMENT RECEIVED                        $       1.00 (-) 	 
03/19 	03/19 	PAYMENT RECEIVED 	                $ 	1.00 (-) 	 
04/12 	04/12 	CLEARING ADJUSTMENT 	                $ 	0.99 (-) 	 
PURCHASES 
03/14 	03/16 	DISCOVER TEEN CARD 866-9928773 AZ 	$       1.99 	 
04/02 	04/05 	DISCOVER TEEN CARD 866-9928773 AZ 	$       1.00 	 


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evidence (107.53kB)
Disclaimer
On June 29, 2009 I said: Principal (Infibank) billed for $0.99As was the case last summer, Principal (Infibank) billed for $0.99

Unrelated to small balance credits:

InfiBank, N.A., has merged with First National Bank of Omaha. First National Bank of Omaha is now the issuer of your account. As a result, all references to "InfiBank, N.A.," on your card(s) and in all account related documents/materials are replaced with "First Bankcard (a division of First National Bank of Omaha)". All other terms on your account remain unchanged.

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Floydian said: yelve said: Floydian said: For those interested...

I have a recurring $1.00 donation on my HHonors AMEX card, and have had it for about 1 year (I get extra HHonors points each month for doing so).

Anyways, 50% of the $1.00 bills were waived with the SMALL BALANCE WRITE-OFF PURCHASE PRINCIPLE and the remaining 50% were billed to me and I had to pay. And yes, this happened every other billing period (pay, no need to pay, pay, no need to pay etc...). I'm not sure if it was a timing thing or what, but either way, something to watch out for.

That may explain why some are billed for AMEX and some are not in the QS.

hmm.. interesting. i tested my AMEX cards and was billed at .99
were you billed on even or odd months?


Even months received the small balance write-off for me (i.e., June, August, October...)

As far as the timeline goes, the $1.00 was charged/donated on either the 3rd, 4th, 5th or 6th of the month, and all the $1.00 small balance write-offs were placed the day the statement was generated (which was the 13/14th of the month in my case, even months only as noted above).
AMEX billed me for $0.99 for my March 12, 2010 statement.
Without paying the $0.99, my April 11, 2010 statment printed showing a zero balance (effectively a small balance credit of $0.99).

It's interesting that the April statement does not even show that AMEX made a small balance credit.

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evidence (48.79kB)
Disclaimer
1st Southwest bank of Alamosa, CO (underwritten by 5th 3rd - Fifth Third)

Billed for $0.99

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I have an odd data point regarding Discover (a heads up for those doing small balance credits with them). I'm posting here because I suspect it is directly related to small balance credits.

Bottom Line:
After receiving only two small balance credits, Discover has reported my business card account to Trans Union as Settled for less than the amount owed DISPUTE AT TU IN PROGRESS

Details:
July 6 ,2007...    Opened business card account as part of an AOR - 10500 line
...........................................................................................
February 6, 2008...line reduced to 7900
...........................................................................................
August 6, 2008...  Paid off last of arbitrage balance
...........................................................................................
May 6, 2009...     charged $69.95, paid $67.96, credit $1.99 (small balance credit $1.99)
...........................................................................................
February 6, 2010...charged $ 2.99, paid $ 1.00, credit $1.99 (small balance credit $1.99)
March 6, 2010...   charged $44.99, paid $ 0.00, credit $0.00 ($10 minimum pmt due by March 27)
April 6, 2010......charged $ 2.99, paid $47.98, credit $0.00 ($0 minimum due by April 26)


With the April 1, 2010 pull of my tri-bureau report, the tradeline displayed as derogatory.

Other weird details:
The open date at TU is 2006 (the account was opened in 2007).
The derogatory mark appeared at a time other than statement date.

FINAL NOTE: I applied for a refinance mortgage loan with 7 different lenders from March 26 through March 30

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I dunno, you pulled that report on April 1st...April fools joke? ;p

Seriously though, Transunion seems to have a lot of screwy info happen with them all the time. So it may still be unrelated to the small balance stuff. I'd wait till you see it hit your other 2 reports or if we hear of anything similar from other users before concluding it was caused by this.

My odd thing with Discover is they have been flagging like every transaction as fraudulent lately(they'd automatically call me on like every single purchase to confirm). Not sure if it is related to this or because I hadn't use the card in a while for anything other than the small purchases. I decided to use the card again to take advantage of their grocery 5% promo and also travel 5% promo.

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jackcrawfish said:
February 6, 2010...charged $ 2.99, paid $ 1.00, credit $1.99 (small balance credit $1.99)
March 6, 2010... charged $44.99, paid $ 0.00, credit $0.00 ($10 minimum pmt due by March 27)
April 6, 2010......charged $ 2.99, paid $47.98, credit $0.00 ($0 minimum due by April 26)



Personally, I think this is the wrong way of taking advantage of small credits, just charge $1.99 and let them write that off, instead of making a payment less the $1.99, I been charging $1.99 for years to pay part of my cable bill, and every month I get the credit.

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Bump to prevent archiving (I beleive it still happens after 3 months inactivity?).

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Glitch99 said: Bump to prevent archiving (I beleive it still happens after 3 months inactivity?).

Same

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Associated Bank (former Citicard cobrand, currently run by Elan/US Bank) canceled at $.02, Sept 2010. They had billed me for $.99 the last time I tried a small balance credit stunt.

Nothing new below but just to confirm the stuff in the QS, all canceled within the last month:
Wells & Discover $1.99
AMX $1.00 cancels alternate months (thx to Floydian)
Chase & Barclays $.99

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PNC card is no longer serviced by Elan ... I believe it's serviced by the same party as National City cards are. I'm testing if it cancels $0.99 balance on a personal card (QS reports that Nat-l City bills at $1.00).

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cyberkost said: PNC card is no longer serviced by Elan ... Are you sure about that? I thought the National City cards converted to Elan after Nat City was acquired by PNC.

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