Tips on Credit Card Late Fees
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Posted: Fri Oct 29, 2004 1:29 pm
Post subject: Tips on Credit Card Late Fees
Joel
Date: 12/22/2000 10:20 pm CDT
I have a questioin. I get a late charge from a credit card company. I mailed the payment in a timely manner but the company did said it was 1 day late (around Christmas timw). Wham, Bam ----- $30.00 late charge.
Here is my question. Why is it that when I get the bill late, the company says that they are not liable for the US post office timely delivery of mail. When I pay a bill, the company seems to determine when it's late. The dated post-mark on the payment is worthless. How do they prove to me that my payment is untimely? Can they charge me a late fee if a third party was negligent in delivering it to them in a timely manner? Where do I go to read my consumer rights in this area?
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archive
Posted: Fri Oct 29, 2004 1:29 pm
Post subject: Tips on Credit Card Late Fees
Linda in VA
Date: 12/22/2000 11:26 pm CDT
Hi Joel,
Have you called them about this? My experience has been that if your payments are always on time, and you call because something happened one time to make it one day late, they will take the late charge off.
If that is the case, and they won't take it off, please tell us which card company this is, so the rest of us can avoid doing business with them.
archive
Posted: Fri Oct 29, 2004 1:30 pm
Post subject: Tips on Credit Card Late Fees
BLE103
Date: 12/23/2000 5:57 am CDT
Hi Joel
I know being 1 day late can be costly but also at the same time the u.s. postal won't get the blame,but let's face it this is how ccc's are making their lost revenue.Have you tought about paying online,and never worry about late fees of any kind?It is very safe to do.I pay my cc's with their online payment option,and beleive me it is the smartest way to go.This way you won't get hit with late fees,and you can keep track of your spending at the same time 24 hrs. a day.With stamps going up again,and the post office delivery causing your cc payment to be late isn't worth the extra penny.Wouldn't you look at it that way?So save your stamps,and go the online way it is the wave of the future with payment processing for cc's.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Fri Oct 29, 2004 1:30 pm
Post subject: Tips on Credit Card Late Fees
Ira Stoller
Date: 12/25/2000 5:13 pm CDT
OnLine payments are NOT a universal answer. I pay all of my bills online using CitiBank's billpayer service. If there is an electronic arrangement between the creditor and your bank it works as you state - payments are generally transferred in one business day. however, if no electronic arrangement exists, the bank simply mails a check to the creditor. The bad part of this is that the bank will debit your account as soon as the check is mailed, even though they still have your mondy until the check clears.
As an example of what can happen, I have a serious problem every month with payments to my Sunoco MasterCard, issued by Bank of America. It takes nine or ten days from the date that my payment is sent by CitiBank for it to be posted. CitiBank denies that they are late in sending checks, Bank of America claims that by law they must post all payments within 24 hours of receipt, and the post office claims they deliver all mail promptly. Somebody is telling a lie and I don't know how to find out who the guilty party is.
Also, it is a proven fact that credit companies generally mail out their statements some four to five days AFTER the statement date. Do the math and you realize that we don't have the alleged 25 day "grace" period to send in payments. We have more like ten days from receipt of statement to send in a payment to avoid finance charges.
I'd appreciate it if anybody has any suggestions, other than send in payments as soon as you get your statement.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Fri Oct 29, 2004 1:29 pm
Post subject: Tips on Credit Card Late Fees
Joel
Date: 12/22/2000 10:20 pm CDT
I have a questioin. I get a late charge from a credit card company. I mailed the payment in a timely manner but the company did said it was 1 day late (around Christmas timw). Wham, Bam ----- $30.00 late charge.
Here is my question. Why is it that when I get the bill late, the company says that they are not liable for the US post office timely delivery of mail. When I pay a bill, the company seems to determine when it's late. The dated post-mark on the payment is worthless. How do they prove to me that my payment is untimely? Can they charge me a late fee if a third party was negligent in delivering it to them in a timely manner? Where do I go to read my consumer rights in this area?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Fri Oct 29, 2004 1:29 pm
Post subject: Tips on Credit Card Late Fees
Linda in VA
Date: 12/22/2000 11:26 pm CDT
Hi Joel,
Have you called them about this? My experience has been that if your payments are always on time, and you call because something happened one time to make it one day late, they will take the late charge off.
If that is the case, and they won't take it off, please tell us which card company this is, so the rest of us can avoid doing business with them.
archive
Posted: Fri Oct 29, 2004 1:30 pm
Post subject: Tips on Credit Card Late Fees
BLE103
Date: 12/23/2000 5:57 am CDT
Hi Joel
I know being 1 day late can be costly but also at the same time the u.s. postal won't get the blame,but let's face it this is how ccc's are making their lost revenue.Have you tought about paying online,and never worry about late fees of any kind?It is very safe to do.I pay my cc's with their online payment option,and beleive me it is the smartest way to go.This way you won't get hit with late fees,and you can keep track of your spending at the same time 24 hrs. a day.With stamps going up again,and the post office delivery causing your cc payment to be late isn't worth the extra penny.Wouldn't you look at it that way?So save your stamps,and go the online way it is the wave of the future with payment processing for cc's.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
archive
Posted: Fri Oct 29, 2004 1:30 pm
Post subject: Tips on Credit Card Late Fees
Ira Stoller
Date: 12/25/2000 5:13 pm CDT
OnLine payments are NOT a universal answer. I pay all of my bills online using CitiBank's billpayer service. If there is an electronic arrangement between the creditor and your bank it works as you state - payments are generally transferred in one business day. however, if no electronic arrangement exists, the bank simply mails a check to the creditor. The bad part of this is that the bank will debit your account as soon as the check is mailed, even though they still have your mondy until the check clears.
As an example of what can happen, I have a serious problem every month with payments to my Sunoco MasterCard, issued by Bank of America. It takes nine or ten days from the date that my payment is sent by CitiBank for it to be posted. CitiBank denies that they are late in sending checks, Bank of America claims that by law they must post all payments within 24 hours of receipt, and the post office claims they deliver all mail promptly. Somebody is telling a lie and I don't know how to find out who the guilty party is.
Also, it is a proven fact that credit companies generally mail out their statements some four to five days AFTER the statement date. Do the math and you realize that we don't have the alleged 25 day "grace" period to send in payments. We have more like ten days from receipt of statement to send in a payment to avoid finance charges.
I'd appreciate it if anybody has any suggestions, other than send in payments as soon as you get your statement.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 11:47 AM
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