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I wonder if someone on this board has the following
experience:

I sent my payment to my CC company 7 days before the due date (as I usu
do) and this time I was told that the payment was late
and thus I was charged both late payment fee and a fat
financial charge. They agree that it is not my fault
but still want waive the charges. Is this a common
practice of CC companies or just this particular company?

Thanks for any insight on this matter.

Jay
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Which company is it? Some companies, like First USA, are notorious for doing this.

If I am mailing a check to the card company, I always try to mail the payment as soon as I receive my statement, or 10 days before it is due, whichever is earliest. So far I have never had a late payment.

Best of luck with this card company. If you have been carrying a balance with them and have been a cusotmer for a while, you might try reminding them how much you have already paid them in finance charges and what a loyal customer you have been. Of course, if you have had other late payments, it probably won't matter to them. In that case, try to transfer the balance to another card, close them out, and try not to avoid late payments at all costs.

Best wishes.

Bryan
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Best of luck with this card company. If you have been carrying a balance with them and have been a cusotmer for a while, you might try reminding them how much you have already paid them in finance charges and what a loyal customer you have been. Of course, if you have had other late payments, it probably won't matter to them. In that case, try to transfer the balance to another card, close them out, and try not to avoid late payments at all costs.

Whoa, I should have proof-read a little better. Remove "not" from that last sentence and it should make a little more sense...

-Bryan

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Thank you, Bryan!

The CC company is TJX visa.

Jay
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I sent my payment to my CC company 7 days before the due date (as I usu
do) and this time I was told that the payment was late
and thus I was charged both late payment fee and a fat
financial charge. They agree that it is not my fault
but still want waive the charges. Is this a common
practice of CC companies or just this particular company?


Hi Jay,

Unfortunately, this is the usual way it works. This is why it's so important to get the payment in on time, as even one day will be considered late. I think it's more unusual if a company waives the late fee, actually.

In my opinion, sending in payment 7 days ahead is cutting it close--too close. You're giving a max of 6 days for them to receive and process it, and I've had mail delivered that took longer than a week. It happens.

I'd make sure to get payments sent out with a larger lead time, or you might want to consider online banking.

Tony
...but I still am...

Off2Aruba
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Thank you, Tony.
In fact, there was a typo in my last message (just
noticed it): they won't waive the charges!

Well, I guess that I will have to mail them payments
well in advance to avoid such charges.

BTW, which internet bank do you suggest?


Thank you all for your suggestions.

Jay
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Jay,

You may want to check out the "Online Banking" message board (try typing it in the box labeled "Board" below and click "Find").

The bank that you are currently with might already offer internet banking/bill payment service. In that case, it might be just as easy to stick with them and sign up for their bill payment service. Otherwise, a few of the strictly internet banks that I know of (banks that don't have any branches) are:
http://www.compubank.com
http://www.telebank.com
http://www.netbank.com
http://www.sfnb.com
http://www.usaccessbank.com
http://www.usaa.com

I think once you start using a bill payment service you'll love it. The bank that I work for/bank with offers this service and I now pay all of my bills this way ... and two best parts are, the bank guarantees the payments as long as I send them five business days before they are due, and most of the payments are sent electronically.

Definitely check it out.

Back to the topic of credit cards...

Bryan
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I sent my payment to my CC company 7 days before the due date (as I usu
do) and this time I was told that the payment was late
and thus I was charged both late payment fee and a fat
financial charge. They agree that it is not my fault
but still want waive the charges. Is this a common
practice of CC companies or just this particular company?


What's the company? First USA?

It amazes me that USPS can deliver first class mail anywhere in the country in 1-3 days, except to credit card companies!
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BTW, which internet bank do you suggest?

Jay,

That's a toughie. I don't have much to compare to, as I do my online banking with KeyBank. There is a monthly fee of $7.50 (that's using it with Quicken--it's less if you just use their internet site), but considering what I save on stamps, and having the incredible convenience of their service, it's well worth it. The best thing is that payments are always where they need to be on time, every time.

You may want to take a gander at our Online Banking board (just type Online Banking in the board box at the bottom of the page). I'm sure there's a lot of good discussions that will interest you.

Good luck!

Tony
...but I still am...

Off2Aruba
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