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credit card question

crustycurmudgeon

crustycurmudgeon

Well-Known Member
I paid off one of my credit cards last month. Paid the entire balance before the due date. Now they've sent me a bill for the interest from the date of the bill to the date I paid it off. Is this legit or are they trying to squeeze a few more dollars out of me?

Frank
 
If your payment made it on time, you can call them and they will likely credit the interest back to your account. As far as legit, who knows whats in the fine print of your agreement.
 
Exactly. It's the accrued interest from carrying the balance, and if you miss it then they'll hit you with a late payment fee. Quite a racket.
 
What cloney said. If it was interest on back money, legit. I'll have to find the link but anybody who uses cards needs to really watch what the companies may start doing. I read the other day where one of their options may be to not allow a "grace period" on purchases. With the restrictions that are coming down the pipe, that is one option some companies are heavily looking at. Basically they would start charging interest as soon as you make your purchase.
 
"blue65coupe" said:
What cloney said. If it was interest on back money, legit. I'll have to find the link but anybody who uses cards needs to really watch what the companies may start doing. I read the other day where one of their options may be to not allow a "grace period" on purchases. With the restrictions that are coming down the pipe, that is one option some companies are heavily looking at. Basically they would start charging interest as soon as you make your purchase.
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Wow. That is some BS! Makes me reconsider if getting a credit card to build a credit history is a good thing...not that the credit card co's weren't all jacka$$es to start with.
 
Two words - American Express.

Yes, I'm sure they can be jackasses just like the others (although after20+ yrs, I've not found that), BUT,

I can't carry a balance, so no temptation, and
Any merchant will tell you they never win a dispute with a Amex customer. Example: Ebay seller never delivers, Paypal f'ed me, so I called Amex. Money credited the next day, Paypal sends me a letter practically begging that I use thier dispute resolution (which I had tried, the scum bags).

Amex customer service is great, it's what they sell. It does cost you a yearly fee, but what's that traditional CC costing you?
 
"BobV" said:
IF the balance included charges from previous months, then it's legit... "Residual interest". All the more reason to kick the SOBs out of your life! :2guns
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Thanks, everyone, for the responses. And as for kicking the SOB's out of my life...I'm working on it. :po

Frank
 
I agree with you on the AMEX but a lot of people (stores, restaurants, etc.) don't like to use AMEX because they charge more fees.

I am also working on my credit cards (only a few) but should be rid of them by March.
 
Never hurts to call and ask them if they wold reverse it. I've had them do it before. They want you to use it again and don't want to piss you off.

Mel
 
I only use credit cards from Credit Unions; they seem to be less onerous about rates and ripping you off in the small print. I highly recommend paying off the credit card each month. I never use debit cards as well.

My credit score is currently 786 out of a possible 800. I think I was dinged a couple of years ago when a mailed check never arrived and I had to pay late fees the next month. The check never did clear...
 
You should dispute that ding on your credit record...Explain why. The chances of the crediting company responding to the dispute are really low and you'll get your perfect credit! Of course the difference between 786 and 800 is academic, as 786 will get you the best rates anyway...but still, I'd do it just for the challenge of it.
 
"Midlife" said:
I only use credit cards from Credit Unions; they seem to be less onerous about rates and ripping you off in the small print. I highly recommend paying off the credit card each month. I never use debit cards as well.

My credit score is currently 786 out of a possible 800. I think I was dinged a couple of years ago when a mailed check never arrived and I had to pay late fees the next month. The check never did clear...
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The most used card in this household is the Amex, because it gives us Delta sky miles. When it is not accepted, does not happen very often, I use my credit union visa. The SWMBO is very anal about paying it off every month. She hates having any type of payment, that is why my 07 was paid off in a little over 2 years. When we bought the other house last year we had our credit score run a gazzlion times. Hers is better than mine, I am at 800 and she was a few points better. Do not want to know what mine is now that I am unemployed. :barf fd
 
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