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Start Watching Your Credit Card Statements Again

By
Real Estate Broker/Owner with RE/MAX In Action WV0020324 & VA0225072929

I remember years ago when I would mail in my credit card payment well in advance of the due date, but the next month I would have a late fee and interest.  It seemed that by the time you got your statement and mailed your check, there was just not enough time to beat the due date. Well, I think everyone caught onto to that scheme...why in the world could they not get a payment posted that I sent 2 weeks before the due date? Wasn't this something that was found to be happening way too often. I might be wrong, but seems like I remember something like that.

So, we all switched to online payments, either automatic or manually done, and I thought those days were all over. Is it? I have been making my payments online for years now, I enter them to be paid on the due date, but I enter them well ahead of that date. Twice this month, I looked over my statement, yes I still get paper, and found late fees and interest. I have confirmation numbers and dates, paid on the due dates. One was made the next day, the other was 4 days later. I called each one and, yes, they see that I always pay on time...so sorry, we will credit that back right away. Really, I guess you will! How about stop trying to rip me off again!

How many people never really look at their statements? How well are you watching your statements these days? I pay mine off each month so it is easy for me to see a forwarding balance and catch the error, but if you don't, it might be harder to catch if you are not looking close. You might take another look every month, twice in one month is just a little too coincidental for me.

Wanda Thomas
Montana Homestead Brokers, Broker, CRS, GRI, SFR, RN - Billings, MT
Billings Montana Real Estate

Good idea to look these things over carefully.  I haven't had a charge for interest in years, but I haven't really been watching either.  Thanks!

Feb 07, 2011 02:28 PM
Jay Schmitt
Keller Williams Keystone Realty - Gettysburg, PA
Gettysburg Real Estate Agent

All the credit card companies I have ever dealt with have switched the rules continuously. They seem willing to do anything for a buck.

Feb 07, 2011 02:43 PM
Tony Morganti
RE/MAX Crossroads in Cuyahoga Falls and Stow, Ohio - Cuyahoga Falls, OH
CRS, ABR, SRES - Cuyahoga Falls, Stow

This is a good reminder.  The credit card companies have been disgusting in the various ways they try to rip off the consumer.  They always seem to come up with some new way to generate additional fees and you have to always be on your toes and review every statement and every notice you receive from them.

Feb 07, 2011 02:46 PM
Robin Dampier REALTOR®
Coldwell Banker King - Hendersonville, NC
Hendersonville & Western NC Real Estate Source

Yes, I pay online as well and also receive the postal mail copy to check against.  I do pay it online about 3 days before the due date just in case the "puter" may have an issue which would delay the posting.

Sue of Robin and Sue

Feb 07, 2011 03:35 PM
John Pusa
Glendale, CA

Jeanne - Several years ago, I had similar problem; Since then, I monitor my credit card statements carefully.

Feb 07, 2011 04:03 PM
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We dumped our Credit Cards a couple of years ago.  I use Debit Cards for online payments or purchases, and pay Cash for local purchases, restaurants, and gasoline.  

The CC's were always up to the tricks you are talking about, even when the Account was paid in full ahead of the Due Date.  It was a great pleasure to close the CC accounts and chop up the cards.

Feb 07, 2011 04:52 PM
Carrie Trotter
National Property Inspections - Dayton, OH
Home Inspector

Thanks for the heads up Jeanne. We pay ours off every month and I only glance at the statement. Your post reminds me I should be reviewing it closer.

Feb 07, 2011 10:43 PM
Karen L. Pietsch
Cary Property Pros - 4 Sale Realty, Inc. - Crystal Lake, IL
Cary Property Pros. Cary Property Pros Premier Real Estate

Jeanne, good information my dear.  I never thought that the credit card companies would be so careless but the news has been saying that this is happening.  Fortunately, I never have enough money to worry bout this.  :)  No really, it's a sin that we have to watch our finances so closely, especially when we pay well enough in advance to be guaranteed of not have additional charges incurred.  That just gets my hair up.  :)

Feb 08, 2011 04:01 AM
Jeanne Kozak
RE/MAX In Action - Martinsburg, WV
REALTOR and Broker/Owner in WV and VA

I am sure this will come to light and they will be under fire again. Thanks for the comments, happy that we will all be aware and protect ourselves against this dishonest collection of our money, not to mention possible harm to our credit.

Feb 08, 2011 01:17 PM