Wierd thing with Old Navy Visa

[NCRedding]

I'm trying to snowball debt and my focus is now on my Old Navy Visa card, which has a fairly small balance. Anyway, I had some extra $$ to pay towards the debt, so I went online to pay yesterday and was told that they only accept two payments per billing cycle so they will not accept any more money from me until 9/23 when the next statement runs.

I even called customer service to verify that they wouldn't accept my payment. They said even if I were to mail a check in, they wouldn't credit it til 9/23, so it isn't just an online thing.

Never thought it would be so hard to pay money to someone

 

[mantaz]

That is crazy! It's like they don't want you to pay off your card because then they can't make money. Most cards will let you make a payment about every 4 days or so. I can't imagine only being able to pay twice a month!

 

[NeverlandClub23]

That is strange! Citi only lets you pay 4 times a month online but you can pay more in other ways (like I have an automatic payment set up through my Bill Pay through my credit union).

 

[jgates]

Is there not any kind of consumer law that would protect people against something like that?

 

[sunnyday123]

Check out the Fair Credit Billing Act, or Regulation Z, I forget which it is but I am pretty sure they aren't allowed to hold a live check and not post it to your account.


And they are doing that so you don't pay your balance down quicker, and you would be saving on finance charges, so that would mean less money for them.

 

[wvjules]

Pay through your bank's "web bill pay" or whatever it is called.

 

[hipchickie]

My DH does the bills so I am not positive (I am sure anyone on here can verify ) but I thought he told me the disney visa only accepts one payment a week.
anyone?

 

[Piecey]

Check out the Fair Credit Billing Act, or Regulation Z, I forget which it is but I am pretty sure they aren't allowed to hold a live check and not post it to your account.


And they are doing that so you don't pay your balance down quicker, and you would be saving on finance charges, so that would mean less money for them.

I think there is.

I know my balance on my Disney Visa is fairly small (1200)..

I had to charge the premium for my insurance last year and it would bill the day the policy became effective. I needed to do something else around that time (I think we were going on vacation or something) so I called to ask if I could overpay the card. She said that the system wouldn't let me. I asked if I mailed a check if that would work. She told me legally they can't hold my money so yes, it would be applied to my account when they received it...

 

[Piecey]

My DH does the bills so I am not positive (I am sure anyone on here can verify ) but I thought he told me the disney visa only accepts one payment a week.
anyone?

You can't make a payment online within 3 days of the last payment... and I think you're limited, online, to 3 payments per statements.

They don't limit you on mailing in payments nor is there a limit on payments made in a branch.

 

[GoofyforDisney3]

It more than likely has something to do with kiting. Check kiting can be done very easy (even with debit cards and electronic funds transfers) and with the economy the way it is, it doesn't surprise me that credit companies are enforcing things like this. You just have to remember the golden rule: The bad ones ruin it for the good ones.