Sneaky credit card issuers?

Do you think a cc company would intentionally neglect to send a customer a bill (they call it a “statement”) in hopes that she/he would forget to pay and incur a late payment penalty?
Doesn’t sound like it would be worth the trouble, but one of my cards (out of two) sends me a bill every few months with a past due amount, and late fee, on it. I’m generally pretty good at keeping track of these things, and I keep the bills, but I am forgetful. Which is why I tend to be cautious. I called once, a chore in itself, and was assured that “Oh yes sir, we sent that ‘statement’ to you on blah-dee-blah-blah”
I always pay my bills right at the due date so that i, not they, get the most use out of my cash.
So, an I alone in my pain?
BTW; why do my t-shirts come out of the dryer inside-out?

Bank of America?

I feel your pain.

$27 “late fee” per month on the $1.82 unpaid interest from July, when I thought I had paid the entire balance due – according to their own accounting on the day it was paid. As I am a world class polite-but-stubborn Bitch, they did actually, eventually, reverse the fees and correct my credit report. Eventually.

Of course they claimed they had sent my statement. Too bad a poor, probably now unemployed, trainee admitted they don’t send statements on balances under $5. I didn’t actually have it recorded, but they apparently did, so after I provided the date, time and name of their employee they suddenly went into “customer retention” mode. :rolleyes:

Banks are generally not willing to lose a solvent customer over a couple of dollars of bullshit late fees or interest. If you get a late fee, just call them and tell them you didn’t get a bill, or something and they’ll reverse it. I do it all the time, sometimes it’s even the truth. I use credit cards exclusively for all purchases, in order to get the rewards, and never pay the credit card company a dime, for anything. Banks already get paid when you make purchases, by the merchant in the form of a usage fee, so it’s not like they are running a charity. If they don’t like it, it’s a free market and they are perfectly free to not extend me any more credit. shrug

I recommend going to the bank’s website a couple of days after the closing date to check the balance online. I also download a PDF version of the statement. My bank also sends me an email to let me know that the statement is available for download.

My credit union (an old school one) does all that. But the two cards are with other banks. I am now going to their sites to check on them. I’ll probably move all my business to the CU.

This may be true for some banks but not all. My dad has never been in debt and is extremely careful and conservative with his money and should be the bank’s best friend. He once missed a credit card payment (I’m guessing the thing got lost in the mail because I can’t imagine he’d forget) and they refused to waive the interest. 60 years of perfection down the drain. :slight_smile:

I think that is changing, especially if you pay off your balance each cycle. I just had a business card that had a late fee. My office manager called, expecting it to be waived. They refused. She canceled the card, and they didn’t whimper.

I’ve had that happen once. I guess the key here is that there are plenty of other credit card issuers.

I’ll tell my WAMU story here - I use a bank card instead of a credit card, but the bank is sneaky as hell!

I opened a BOA account in frustration after dealing with WAMU for the last couple of years. I did a test. I made 2 identical debit card charges on the same day, at about the same time, one for each bank.

BOA debited my account immediately. It took WAMU 4 days for the same charge to show up (the day before my direct deposit was due). A customer service rep explained that they have “up to 60 days” to post a charge to my account. They seem to always post charges on the one or two days that it’s possible for my account to be overdrawn, so that they can bill me a legitimate $34 late fee.

I’m closing the WAMU account.

This is a good posting, and something that everyone that uses a debit card needs to pay attention to. Some people just keep fat balances in their checking accounts and don’t have a real risk of bottoming out via debit transaction … but a lot more people regularly dance on that $0.00 line.

I have a tendency to be forgetful and temporarily lose mail, so I have a recurring payment of $50 on the 1st of the month to my credit card so that the minimum payment is met. (If I’m on the ball, it all gets payed off).

Of course, if I suspected that any financial institution I dealt with was playing fast and loose with status updates, I’d drop them like a hot potato studded with razors and wrapped in phosphorus foil.

I’ve had a few move the due date around. Just a little bit so that it falls on a Sunday. So even if I post a payment electronically on Friday, oops! Didn’t get posted to my account untill Monday, you’re late, late fee, rate increase bla bla bla.

I like to pay off all of my cards every month so I simply sign up for the auto-pay feature which lets you choose what to pay, I select the option to pay the entire balance, and when to pay it, I always do it a few days before it is due. That way they debit my checking account automatically each month and the accounts are paid off in full. I still reconcile my accounts to make sure there aren’t any spurious charges… but those are pretty rare.

I used to have a Chase Mastercard. When it was near the payment due date I’d go online to pay the bill, by giving them my checking account number so they could directly debit the money from my checking account. But their site made a point of saying that payments took 3 or 4 business days to process. WTF? That’s their problem, not mine. And, to add insult to their slowness, you could pay them a several dollar fee for expidited processing. No freakin’ way! I cancelled that card, bastards.