Skipping a credit card payment-Offer from Chase

Discussion in 'Budget Board' started by mousetravel, Jun 3, 2009.

  1. mousetravel

    mousetravel DIS Veteran

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    I received my bill from Chase, and they had a statement included that offered an option to skip this month's payment, with a minimum payment due of $0.00. I'm sure others have recieved it, too. What are your thoughts on this? I'm thinking it would be great to be able to skip this month, since it's my DD's birthday this month, but then again, I'm thinking, just pay it as usual, just in case they try to raise my interest or minimum payments if I don't send in a payment.
     
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  3. johnsontrio

    johnsontrio DIS Veteran

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    I got that offer also... I paid my balance in full as I usually do because interest will have accrued for 2 months if I skip the payment. If you only pay the minimum payment, you can call them and ask if your payment will go up or if this will effect your account in any way. I have found them to be straightforward if I ask the right questions. Good luck.
     
  4. Peanut&Piglet'sMom

    Peanut&Piglet'sMom Mouseketeer

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    We did the same thing....paid it in full anyway. You never know what they'll hit you up with next month! Be sure and call.
     
  5. wall*e2008

    wall*e2008 DIS Veteran

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    I would pay the bill just like normal.
     
  6. tonilea

    tonilea <font color=blue>I hope I don't regret this...<br>

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    It is not generosity on their part, it is a way to collect extra interest!
     
  7. GoofyFairie

    GoofyFairie DIS Veteran

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    Credit card companies only make offers they can profit on. Don't skip the payment.
     
  8. 4HppyCamprs

    4HppyCamprs DIS Veteran

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    Okay so here is the deal on this. If you pay $0 you will raise your level of debt because you will accrue full interest for this month and your balance will increase.

    If you pay the amount of interest (i.e a partial payment) you will not raise your your balance nor will you lower it.

    If you pay your full payment you will cover your finance charges and also lower your balance (slightly usually :rotfl:)

    I personally am going to either pay my finance charges or pay my regular payment I owe enough to chase without adding extra charges!
     
  9. mrp4352

    mrp4352 DIS Veteran

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    I decided to pay the finance charges only - but only because I'm leaving on vacation next week. Otherwise I would have paid extra on top of the finance charges...
     
  10. arielsleepingbeauty

    arielsleepingbeauty I'm not bad, I'm just drawn that way.

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    I thought it was strange when i received my bill with a 0.00 balance due. I then realized what it was all about. I paid it in full as usual. It may sound tempting. Don't be fooled, its definately not meant to help out the consumer. They may end up raising the finance charge if you dont pay at east the minimum.
     
  11. Soon2B4

    Soon2B4 DIS Veteran

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    I just realized what was going on. We receive online statements and I usually don't look at them in to much detail on our 2 Chase cards. The first one I thought they made a mistake and made the same payment I made last month. Then my Disney came due and it had the same $0.00 payment. I decided to see what was going on and found out about the skipping payment thing. I went ahead and made the same payment again as last month. I figure if I have the money, make the payment. It is nice to have the option I guess, but I want to get out of debt and skipping doesn't help that!
     
  12. eeyorethegreat

    eeyorethegreat DIS Veteran

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    Agreed !:thumbsup2
     
  13. cltk78

    cltk78 Mouseketeer

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    I got the same offer from Chase. I decided to just go ahead make my normal payment.
     
  14. Stargazer

    Stargazer Second star to the right and straight on till morn

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    Just to echo -- same offer here; paid per usual instead of skipping payment
     
  15. Princess April

    Princess April DIS Veteran

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    Got the same thing here... I read it carefully and they were more than :) to let us skip a payment *BUT* they made it very clear (in teeny tiny writing) that you would be accruing finance charges the entire time.....! Ha, like they are going to get an extra penny from me! :rotfl2:
     
  16. neatokimmo

    neatokimmo DIS Veteran

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    If you pay in full every month, skipping one month will really screw you up.

    You'll loose your grace period really, and even if you pay off the balance the next month plus the new interest charges, you'll accrue interest from the date the statement is printed to the day they get your payment for month three.
     

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