A (not so funny) story

iVillage Member
Registered: 03-31-2003
A (not so funny) story
8
Thu, 04-10-2003 - 2:38pm
Here's an interesting new way the credit cards try to wring every last cent out of us...

I've been paying off my cc balance in full every month to avoid finance charges (we won't go into why I feel the need to use the plastic at all). April's payment was due on the 7th (Monday). Thursday I came back from running work related errands and realized I had forgotten to mail my check. I didn't want to go all the way back to the PO, so I decided I would sign up for online payments.

Friday morning I sign up, only to discover it will take 3 business days to process the payment. There were instructions to call Customer Service if you need the payment credited to your account that day. So I did and the customer service rep tells me it will COST me $15 to have the payment credited to my account that day!!! So I said, wait a minute...I am not late TODAY. I want to give you the money TODAY and you are going to charge me for taking my money??? (when I mail in a check, they credit my account the day they receive it, even though it doesn't clear my bank until several days later; why can't they treat an electronic payment the same way and credit my account for making it?)

Sooo I say fine, I will take my chances on incurring the finance charges for the month... and he says, 'well there will be a $30 late fee'. OMG!!!!!! I was fuming since on Friday I WAS NOT YET LATE!!!!!!!! I calmly said, no way am I going to pay any of these fees. I will drive to the post office and give them $3.50 to send it Priority Mail and it will get there Monday because the US mail moves on Saturday. Thanks for nothing.

The punchline of this ridiculous story is that I drove it to the downtown PO, which has a noon box collection, stuck a regular stamp on it, AND it must have arrived on Sat because it was credited to my account on Sun! Sooooo glad I didn't fall for the $15 trap.

That was a new one for me. I thought you would appreciate it. Grrrr....




iVillage Member
Registered: 03-27-2003
Thu, 04-10-2003 - 2:45pm
Warning about priority mail--I wouldn't rely on it for anything as important as a payment. I once used it to deposit a check by mail and it took two weeks to arrive. The post office told me, sorry, but priority mail is not guaranteed. Thanks for nothing. If I need it there over night, I fed ex. Otherwise, I use a 37 cent stamp and take my chances.

Heather

P.S. Glad your payment got there on time! Whew, what a relief!

iVillage Member
Registered: 03-20-2003
Sun, 04-13-2003 - 6:27pm
I do appreciate your story. This is why I look forward to a future of never using those darned credit cards or having to pay any of their bills, ever. What bank was it that you were dealing with, if I may ask. I like to keep one another informed of all their shady little tricks so we can be prepared.

cl-12by10

iVillage Member
Registered: 03-31-2003
Mon, 04-14-2003 - 8:10am
It was Fleet (I must say this is the 1st problem I have had with them, but I also know there is a class action against them for the way they have applied payments in the past, causing people to 'be late').



I was fully prepared to say to them "you can keep me as a customer or have your one-time $30 'late fee', but not both". I know they are not making any finance charges off me anymore, but they DO get a % of each purchase from the merchants.

I swing back and forth about using the card--it's convenient (I use it online instead of my debit card) and gives some protection on larger purchases. I don't put a fraction of what I have in savings on it in any given month (so I could pay it off anytime, not just payday), and I really like riding the grace period!

But you do have to be careful and read everything they send, because they can and will try to zap you!!




iVillage Member
Registered: 04-11-2003
Mon, 04-14-2003 - 9:08am
I encountered the same situation with Best Buy, except they whated to charge about $25. And they also wouldn't take my payment at the store, telling me they weren't linked to the bank. So, they can debit my account but not credit my account?????

Good luck

Julie

iVillage Member
Registered: 04-02-2003
Mon, 04-14-2003 - 3:13pm
You can pay Best Buy online now. The payment posts the next day, if you pay before 1pm. It's pretty easy to setup. This is how I've paid my bill for the past few months.
Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Tue, 04-15-2003 - 3:23pm
Good for you. Its nice to hear a story where the consumer comes out on top!!

Susan

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Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Tue, 04-15-2003 - 3:24pm
What's the website? I have been trying for MONTHS to get Best Buy online and they kept telling me either mail it 10 days before the due date (yeah, right) or pay the fee to do it over the phone. Not a chance, the fee was higher than my $13 monthly payment LOL.

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iVillage Member
Registered: 04-02-2003
Tue, 04-15-2003 - 3:41pm
If you go on their website, click on the credit card icon on the top of the screen where it says "no interest financing" (what a joke). You'll see where to apply for a card on the left and account management on the right. It's pretty easy to register, and you can make a payment the same day that you register. It's much easier than mailing it in or paying by phone. Let me know if you have any problems.

momtochris