October 16, 2006

Due Dates!

My wife and I have several credit cards (believe me I am not bragging either) and we always make our payments on line as we do with utility's and banking and the like. The one thing that has always bugged me is the due date. Every bill has a due date. this is the date that the payment must be paid by so no late charges will incur. I always felt that the due date was just that, the DUE DATE. Not one day after or you will be assessed a late fee for being late. If you pay before the due date you should be fine right? As it turns out this is not exactly true. According to the credit card company's if you are paying electronically through your computer you must pay up to four days ahead of the due date in order for the payment to be posted before the due date. You would think in these days of technology and computers and the speed at which they operate that the payment would posted almost instantly. But noooooooo, it takes several days for the information to be posted. I could understand if you mailed it in because you have to allow for the time it takes to get there. Computers for the most part are instantaneous so I cannot see how it would take several days for that information to be posted. I tend to think this is a shrewed way to extort late fees out of people. What say you?

This is my rant for the day. :-)

Posted by Eric Von Zipper at October 16, 2006 03:31 PM | TrackBack
Comments

I hate it when they give you a due date with a 10 day grace period,you call them and ask to change your due date,they say no but there is no problem with late fees etc because of the grace period and THEN give you a late fee.
I think this was one of the longest sentences I have ever typed up.........

Posted by: The Brat at October 19, 2006 10:58 AM

Its a scam. Thats my story and I am sticking to it. :-)

Posted by: sompopo at October 19, 2006 04:24 PM