The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit card due dates Date:  1/25/2007  12:36 PM
Author:  DrBooa Number:  246127 of 312240

Well kiss that float period goodbye. I just received a notification from Chase of a change in terms. They will now start charging interest from the moment a transaction is posted to my account. I would be more upset if I carried a balance or used the card, however you can guess which card will no longer get any usage from me.

Howard B

As PanemetCircuses said, you're misreading the notification. I received the same notification, but all that they mean is that *if* they are going charge finance charges, they will do so from when the charge was made, not from when it *posts*. Look at one of your statements, you'll see that there's a date when you made the charge (say, 1/18) and the day it posts (say, 1/20). If they are going to charge finance charges, under the same circumstances as before (like, you're carrying a balance), they'll do it from the 18th now instead of the 20th.

I got the same notification, a while ago, and they're not charging finance charges if I've paid my balance in full, so they're not just charging finance charges on all new transactions from the moment it posts to your account. Honest. Try it one month and see.

Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us