No. of Recommendations: 0
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.

...but I still am...

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.