| Late fee for making a timely online credit card payment |
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Felix
New Member
Cash: $ 0.90
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Joined: 28 Jul 2009
Location: Idaho
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| Late fee for making a timely online credit card payment |
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Imagine the following:
Payment due date: July 15
Minimum due: $25
Payment made online via creditor's website on July 14 in the amount of $50
Charged a late fee of $39
Creditor claims they can't post the online payments for ~3 days after they're made.
If it's their website I'm using to make the payment and I make it prior to the due date, then how could it be legal for them to charge a late fee?
If this is legal, then why don't they hold mailed payments until after the due date to post them so they can charge everyone late fees every month?
Example: You have a due date of the 20th. You mail your payment on the 10th. They receive it on the 13th. But instead of posting it to your account right away, they hold onto it until the 22nd and post it then, resulting in a late fee to your account.
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Tue Jul 28, 2009 11:02 pm |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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Sorry for the misfortune. I guess it's true sometimes what they say about credit cards, "If you play with snakes, you'll eventually get bit".
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Wed Jul 29, 2009 1:17 pm |
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Offshore-Wealth.com
Senior Member
Cash: $ 14.80
Posts: 601
Joined: 20 Jul 2005
Location: FREEDOMLAND
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| Re: Late fee for making a timely online credit card payment |
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quote:
Originally posted by Felix
Imagine the following:
Payment due date: July 15
Minimum due: $25
Payment made online via creditor's website on July 14 in the amount of $50
Charged a late fee of $39
Creditor claims they can't post the online payments for ~3 days after they're made.
If it's their website I'm using to make the payment and I make it prior to the due date, then how could it be legal for them to charge a late fee?
If this is legal, then why don't they hold mailed payments until after the due date to post them so they can charge everyone late fees every month?
Example: You have a due date of the 20th. You mail your payment on the 10th. They receive it on the 13th. But instead of posting it to your account right away, they hold onto it until the 22nd and post it then, resulting in a late fee to your account.
It all comes down to one thing, the banks have been sucking customers dry with fees for years. The majority of the profits come from these fees, and we all know how much money they lost in their greedy little mortgage scam which made them billions for years, not without the mortgage market they once had, expect to see more fees added.
I had gotten hit a few times with a day late payment, so I know how you feel, in fact, I went to electronic payment just because the mail, or mailroom at banks were conveniently slow at processing payments so they can hit us for insanely high fees. I made payment a week before due date electronically, and they hit my for late fee when in fact it was an internal transaction to their bank. I called up and bitched and got my fee refunded, but the point is, don't trust these whores, make your payments the moment you get them is only way to fight these crooks.
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Thu Jul 30, 2009 5:52 pm |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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The other way to avoid this issue is to pay off the credit cards and never use them again. You can live without CC's. Don't let anyone tell you that you cannot.
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Fri Jul 31, 2009 5:28 pm |
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Offshore-Wealth.com
Senior Member
Cash: $ 14.80
Posts: 601
Joined: 20 Jul 2005
Location: FREEDOMLAND
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quote:
Originally posted by littleroc02us
The other way to avoid this issue is to pay off the credit cards and never use them again. You can live without CC's. Don't let anyone tell you that you cannot.
Except if you travel and need to rent cars, they don't take cash or debit cards, so you are stuck without a credit card.
Success to all,
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http://ENVIROPURELIGHT.com
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Sat Aug 01, 2009 1:13 am |
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littleroc02us
Moderator
Cash: $ 384.35
Posts: 1891
Joined: 09 Feb 2009
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quote:
Originally posted by Offshore-Wealth.com
quote:
Originally posted by littleroc02us
The other way to avoid this issue is to pay off the credit cards and never use them again. You can live without CC's. Don't let anyone tell you that you cannot.
Except if you travel and need to rent cars, they don't take cash or debit cards, so you are stuck without a credit card.
Success to all,
Actually that is completely untrue, because I rent cars and reserve hotel rooms all the time with my debit card.
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Mon Aug 03, 2009 3:27 pm |
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Offshore-Wealth.com
Senior Member
Cash: $ 14.80
Posts: 601
Joined: 20 Jul 2005
Location: FREEDOMLAND
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quote:
Originally posted by littleroc02us
quote:
Originally posted by Offshore-Wealth.com
quote:
Originally posted by littleroc02us
The other way to avoid this issue is to pay off the credit cards and never use them again. You can live without CC's. Don't let anyone tell you that you cannot.
Except if you travel and need to rent cars, they don't take cash or debit cards, so you are stuck without a credit card.
Success to all,
Actually that is completely untrue, because I rent cars and reserve hotel rooms all the time with my debit card.
Actually it is not completely untrue, check for yourself. Then who do you use, for it is not the major rental agencies like Hertz, Avis and Enterprise at major airports won't, unless you pay in advance for whole rental, plus a hefty security deposit of $500. plus depending on your plans, so this can screw up your trip if you are not aware of regulations ahead of time.
Examples of terms:
Q: Can I use my Debit Card or Bank Card to reserve a Hertz car?
A: At most Hertz locations, debit cards (sometimes called check cards) issued under a VISA or Mastercard logo which draw funds directly from the cardholder�s account may be used to qualify for rental. However, prepaid or stored value cards which have a VISA or Mastercard logo are not accepted to qualify for rental. Debit cards must have available funds for the estimated amount of the rental charges plus a reasonable amount to cover any incidental charges in order to secure the rental. Both debit cards and prepaid or stored value cards issued under a VISA or Mastercard logo may be used as a form of payment when you return the vehicle. Please contact your local Hertz Reservations Office if you have a question about whether Hertz will accept a certain debit card.
Question
What forms of payment does Enterprise accept?
Answer
A major credit card in the renter�s name is required for a deposit on all rentals. When the rental is returned, traveler�s checks, debit card, or a major credit card can be accepted to pay for the rental.
Debit Card Policies
Avis reserves the right, in its sole discretion, to seek a Debit Card authorization hold in excess of the estimated rental charges. When using a debit card at Avis there may be a minimum hold of $500 and a maximum hold of the estimated rental charges will be placed on your account.
Upon returning the vehicle, Avis will process a release of the unused portion of the hold subject to your Bank�s procedures. The hold may take up to 2 weeks to be released by your bank.
If you�re using a debit card at a location that accepts them, we�ll require a hold of total estimated charges plus 25% or $300, whichever is greater. However, for insurance/service replacement rentals and tour rentals, the minimum debit card authorization hold is $100. At select locations in the Northeast and North Central regions, the minimum authorization hold is $500. Renters under 25 years of age may not use a debit card.
At some locations, debit and pre-paid charge cards are not accepted at time of rental but are accepted for payment at time of car return.
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Tue Aug 04, 2009 12:19 am |
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namratasnv
Preferred Member
Cash: $ 25.25
Posts: 126
Joined: 24 Jul 2009
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It is important to make the payments earlier, but if it is happening like this as after making payement on time, you will get mail as a late fee, then it should be taken into consideration and should discuss this issue. 
http://www.connecticutwebuyhouses.com/
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Thu Aug 06, 2009 2:17 pm |
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jacktom
Contributing Member
Cash: $ 7.60
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Joined: 18 Sep 2009
Location: pakistan
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quote:
Originally posted by littleroc02us
"If you play with snakes, you'll eventually get bit".
i am agree with you you r right when you play with fire its may burn you.
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Fri Sep 18, 2009 10:32 pm |
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