Credit Card Alert

[dfchelbay]

Just wanted to warn everyone about an experience I had when paying my credit card bill online. I have been paying online for years, and this is the first time this has happened.

I signed on as usual and all my account information came up automatically and I entered the dollar amount to pay it. All information was automated, the last for digits of the bank account, last for digits of the credit card number, etc. So, I paid it and went on my merry way. A week later, that payment still had not been withdrawn from my bank account, so I went online to verify that I did pay my credit card. Boy was is PO'd with what I found out.

BEWARE - the date that was automated for the payment to be applied to my credit card was the actual DUE DATE for the payment and not the day I made the payment. which was ten days before it was due. So, for those of you who can not pay off their account in full each month, the credit card company is automating their system to reflect your payment was received on the very last date before you incur a late fee.

Verify your payment is being applied on the date you are making it, and not the due date which is later. You will pay interest for those days even though you made the payment, because they are not applying it to your account until your actual payment due date.

Double check that your payment date is the day you want it to be and that it will be applied to your account on that same date.

 

[mrudman]

Wow, thanks for the heads up!

I just checked and my card still automates it for the day you make the payment.. but I'll keep an eye on that.

 

[aka-mad4themouse]

You had me worried! I paid my Disney VISA online yesterday and I didn't take note of the payment date. I checked my bank account and it doesn't show up there yet!

But then I checked my Chase account and it shows on there that it's been paid!

Whew!

Note to self: Pay careful attention when dealing with the CC companies. They're doing everything and anything they can to trip you up!

 

[robinb]

{shrug}

For every person who complains that the system defaults the due date there would be someone who complain about the system defaulting the current date. I pay my credit cards off every month and I want to keep MY money as long as I can. I would never pay 10 days early!

But ... thanks for the PSA. We should all be aware of the system default and adjust to the date that works out best for each one of us.