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When the due day is NOT a due day
Posted by: kap
Date: April 18, 2010 12:52PM
Whenever the credit card company decides that it is not. For instance, Wife received a call from JP Morgan Chase bank this morning informing her that her bill is considered late even tho' she has snail-mailed it 4 days before the due date. According to the rep, it takes 7 days to process the bill because of numerous interstate and departmental deliveries. Yup, the address to which customers are sending bills isn't the destination address where the bills processed!

Yes, this is all new to me! Oh, yes, I am going to call my CU up to verify their policy on due date!



SoCal for now.



Edited 1 time(s). Last edit at 04/18/2010 12:53PM by kap.
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Re: When the due day is NOT a due day
Posted by: (vikm)
Date: April 18, 2010 12:55PM
They are all crooks. With many bills, as long as the payment is postmarked by the due date you're good. Some even have a grace period after that.

I hate these SOB's with a passion. You could consider doing online bill pay to try and remedy this. I have for most things. Good luck.
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Re: When the due day is NOT a due day
Posted by: Doc
Date: April 18, 2010 01:01PM
I canceled my Discover card after the service rep refused to credit me for a late fee charged on a check they received over a week before its due-date.

She admitted that they often delay up to two weeks between receipt and processing of payments and hung up on me when I demanded to speak to a supervisor.

F--k that @#$%&.
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Re: When the due day is NOT a due day
Posted by: GGD
Date: April 18, 2010 01:42PM
Quote
(vikm)
You could consider doing online bill pay to try and remedy this. I have for most things. Good luck.

That's what I do to, and wherever possible, using a credit card that gives me cash back. But I still schedule the payment for about 2 days before the due date, so there is a little time to recover just in case something goes wrong with the online payment request.
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Re: When the due day is NOT a due day
Posted by: space-time
Date: April 18, 2010 02:19PM
even though I haven't wrote a check in a long time, I wonder why it takes them so long to process the checks. I thought they passed a bill some years ago to allow banks to cash checks via scanned images, rather than physically sending the check to the other bank.
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Re: When the due day is NOT a due day
Posted by: kap
Date: April 18, 2010 02:24PM
Quote
space-time
even though I haven't wrote a check in a long time, I wonder why it takes them so long to process the checks. I thought they passed a bill some years ago to allow banks to cash checks via scanned images, rather than physically sending the check to the other bank.

I think the recent passage of credit card legislation canceled out that bill.

Edit: Forgot this burnout smiley



SoCal for now.



Edited 1 time(s). Last edit at 04/18/2010 03:06PM by kap.
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Re: When the due day is NOT a due day
Posted by: MarkD
Date: April 18, 2010 02:32PM
You might look around for immediate payment options. for the discover card you can pay at Sears, even on the date that it is due without any late fees. I have done that after a boss suggested that years ago. I had a verizon bill and found that they they have machines in their stores to pay the bill. For the other credit cards, is there such an immediate way to pay? Or is the only way through online bill pay?
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Re: When the due day is NOT a due day
Posted by: Doc
Date: April 18, 2010 02:41PM
Quote
space-time
even though I haven't wrote a check in a long time, I wonder why it takes them so long to process the checks. I thought they passed a bill some years ago to allow banks to cash checks via scanned images, rather than physically sending the check to the other bank.

Under the "Check 21" law, they are permitted to debit your bank account the moment they have an electronic record of the check. They may then take that money and hold on to it for as long as they like without crediting it to you (within the limits of the cardholder agreement).

It's a great way of collecting interest and charging penalties on money they've already collected from you with the added bonus that because of the way they work the delays on deposits people who don't keep very careful track of their money are likely to get overdrawn occasionally and incur even more penalties.

The new reg's do nothing to fix that.
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Re: When the due day is NOT a due day
Posted by: Black
Date: April 18, 2010 02:57PM
I've been doing billpay for well over a year but prior to that I had a lot of luck getting Citi to give me a few extra days when needed, reverse late fees when they occurred . . . I had the impression that I was credited the day they received the check pretty consistently.
Paying at one of their sites didn't matter though-- still a 3-day processing time.


kap, who's your bank? Why don't you guys do billpay?




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Re: When the due day is NOT a due day
Posted by: Lux Interior
Date: April 18, 2010 03:25PM
I pay directly using the CC's website and not my bank's bill pay when possible. That way I know they have the payment.

If your bank screws up, they just give you the money back, but couldn't care less if you got charged late fees or had your water/electricity shut off because of their F-up.
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Re: When the due day is NOT a due day
Posted by: kap
Date: April 18, 2010 03:25PM
Quote
Black
kap, who's your bank? Why don't you guys do billpay?
I dropped Chase two years ago when one of its cc rep and branch manager informed me that I did not have enough credits to be qualified for a credit card. We had home loans with the bank for both of our houses. Paid them all off. Never a late payment for all 5 years, FDS!

Wife still wants to stay with Chase and she mistrusts online payment eye rolling smiley
We pay our debts online with our CU.



SoCal for now.



Edited 1 time(s). Last edit at 04/18/2010 03:32PM by kap.
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Re: When the due day is NOT a due day
Posted by: DavidS
Date: April 18, 2010 04:11PM
Paying online is actually safer than check via snail mail. You don't have to worry about mishandling by the USPS and you also get an electronic confirmation number, in case there is a problem. It's usually easier and you don't have to buy a stamp.
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Re: When the due day is NOT a due day
Posted by: NewtonMP2100
Date: April 18, 2010 04:22PM
...way back in the day I used to pay my Chase credit card at the bank branch.....now I pay everything with billpay......



_____________________________________

I reject your reality and substitute my own!



Edited 1 time(s). Last edit at 04/18/2010 04:23PM by NewtonMP2100.
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Re: When the due day is NOT a due day
Posted by: Speedy
Date: April 18, 2010 05:21PM
We have a couple of Chase cards and use the on-line system. They offer (or used to, things change) an option to automatically pay the minimum from your bank account on the due date. I signed up for this after they played games with the on-line system.



Saint Cloud, Minnesota, where the weather is wonderful even when it isn't.
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Re: When the due day is NOT a due day
Posted by: Mini 9
Date: April 18, 2010 05:38PM
as to the original post, this is not the first time I have heard something like this recently. Horrible business practice, imo.
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Re: When the due day is NOT a due day
Posted by: wurm
Date: April 18, 2010 06:19PM
I finally convinced my daughter to start using online bill paying after she got hit with a late charge for a payment that she sent "a week before the due date!". I told her it pretty much doesn't matter if she sent it a month in advance. If they say they didn't get it in time, you're SOL. At least with online bill paying (especially at the credit card company's site vs your own bank's), you can at least get a confirmation that it was accepted/authorized on time and that should cover you.
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Re: When the due day is NOT a due day
Posted by: sekker
Date: April 18, 2010 06:26PM
Wow - I thought this had gone out of fashion years ago.

My favorite related true story was the SciFi Book club - they used to send me books every month, sometimes honoring my 'do not send' card, sometimes not. I used to then ALWAYS get charged for the book, even when returned. I even ran the experiment, and returned the book in the same packaging, the same day as I received it and was still charged for the book and/or late fee for missing my payment.

My last credit card I cancelled had a similar racket - I paid the bill the day it came, and that was not fast enough using USPS.

So we have all our main cards either from a credit union or Target - both places that accept online bill pay without extra expenses (Wells Fargo used to CHARGE you for online bill pay!) AND you can stop by and drop off your payment in person with a receipt.
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Re: When the due day is NOT a due day
Posted by: SDGuy
Date: April 18, 2010 07:45PM
people who have internet access still mail in paper checks?!!??
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Re: When the due day is NOT a due day
Posted by: Racer X
Date: April 18, 2010 07:53PM
Quote
SDGuy
people who have internet access still mail in paper checks?!!??

yes, hard to refute a cancellation date on the back of a check, when they claim "we never got it" or "it was late"
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Re: When the due day is NOT a due day
Posted by: Black
Date: April 18, 2010 08:29PM
Quote
kap
Quote
Black
kap, who's your bank? Why don't you guys do billpay?
I dropped Chase two years ago when one of its cc rep and branch manager informed me that I did not have enough credits to be qualified for a credit card. We had home loans with the bank for both of our houses. Paid them all off. Never a late payment for all 5 years, FDS!

Wife still wants to stay with Chase and she mistrusts online payment eye rolling smiley
We pay our debts online with our CU.

Make sure your wife knows that billpay is authorized manually by you on a per-transaction basis-- it's not standing access to your bank account.
As someone else said- it's no different than paying by check except you (mostly) eliminate the chance that it will fall into someone else's hands or go missing.




New forum user map 8/2015: [www.zeemaps.com]
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Re: When the due day is NOT a due day
Posted by: Black
Date: April 18, 2010 08:31PM
And FYI I dumped Chase a few years ago too-- they didn't adequately support my part of town-- one branch for a huge area, always a line out the door, ATM always out of money and envelopes, etc. They did ultimately open another branch nearby, but too little too late.
Reasonably satisfied with BoA now for about 5 years (after a nightmarish experience with WaMu.)




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Re: When the due day is NOT a due day
Posted by: space-time
Date: April 18, 2010 09:28PM
just a note for Kap and maybe others

You can do online payment 2 ways.

1) From the Credit Card web site, you enter your bank account info (account number, routing no). Then when you get the bill, go online and schedule the payment right away, usualy for 2-3 days in advance before the due date. On top of that, I also have set up automatic payment, for the minimum due.

Suppose I get a bill for $1000. I go online and schedule a payment for $1000. Citicards will collect $1000 , and on the due date, they automatially deduct another $20 or so (the minimum due). It doesn't bother me, since next month if I spend another $1000, I get a statement for only $980 (since I overpaid $20). This way, even if I forget to make the main payment, I still have the minimum taken care of, no late fee, just some interest, and the credit history is unaffected.

2) From your bank account web site, go to online bill pay (or whatever they call it), and then enter info like name of Credit card and account number, and in some cases even the mailing address. In most cases, the bank will send the money via electronic fund transfer, but there are smaller banks or smaller credit cards and they don't have links/agreements with each other and then your bank really mails a check on your behalf. This method sucks, since you still rely on USPS, or perhaps your banks screws up, and you end up paying the late fee anyway.

I use method 1 in cases, except sewer and water bills where they charge you $5 if you do method #1, so I stick with method $2.
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Re: When the due day is NOT a due day
Posted by: kap
Date: April 19, 2010 07:33AM
Appreciate all the good info offered here. We will peruse them appropriately smiling smiley



SoCal for now.
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