I realize I haven't paid my CC balance. Five days late so I call them up. Thirty-nine dollars of late fee on one hundred and thirty-seven dollars and change. What a racket.

I tell them I'll pay that and the four hundred clams that won't be due for another twenty-five days or so and no dice.

They'll "allow" me to pay my late bill over the phone for a measly, extra ten spot.

I asked them how much credit that card carried and as soon as he told me I told him to cancel the card.

Now, he'll be more than happy to do that and waive the ten for the whole shootin' match paid off here and now.

I laughed at him and paid my late bill online.

I'll pay the four hundred bucks next month and they can wreck my credit adding penalties, interest and trying to collect on that thirty-nine bucks.

Da bums...

Got my sweet little announcement yesterday (in a flimsy folded paper that you would normally just toss as it is not a bill or check). I opened it to have it say they will charge any and all activity based on the months beginning APR OR the current APR at time my billing cycle. ### Meaning the higher of the two!!!### Thank God and greyhound I owe $700.00 dollars or less total on credit cards. **EDITED**--pardon my dyslexic french...... They'll be paid off and not used OR cut and canceled. I sure hope the "wonderful" (intelligent) voters (some of whom were duped) are happy with their CHANGE!!!!!! Oh well, I'm buying more ammo all the time........investment you know. Sprefix

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Go big or stay home

I was on my fifth day of being late on 187 so I figure paying it and the 400 that isn't due for three weeks would put us square.

No way Jose.

So, that tells me they're nuttin' except opportunist bums.

The Capital One card represents right at 5% of my total credit.

I carry no revolving balance w/anyone.

Read my lips Cap1.

No 39 clams for you!

What's in my wallet?

Several others that dwarfs yours.

Bend over & outsource this...

"What's in your wallet?" indeed!

They are all the same. I finally finished paying off a huge debt about 5 months ago. It took me close to 10 years to do it. I am finally debt free, and I have one bit of advice. Do not try to avoid paying the late fees as you have suggested. Pay off everything, and cancel the card. That $39 will be turned over to a collection company and will turn into a grand with fees and fines in no time at all. Suck it up and pay it, and be done with them.

Credit cards are the devil. I know from experience. I probably paid 4 times back what I initially borrowed because of interest. The most recent ploy that they use is that they can change your "due date" without notifying you, causing you to have a late payment. It's in the fine print. A friend of mine just had this happen. When she called them, they said that the due date was variable as much as 5 or 10 days at their descretion.

The devil I tell you!!!

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Freedom above all else.

Very interesting show not too long ago on PBS about credit cards and their charges.

A few years back Congress passed new laws making it harder for you to declare bankruptcy to get rid of credit card debt ......BUT... thanks to the industry lobbyists left intact the ruling that they can charge whatever interest rate they desire and can increase it for virtually anything they see fit.

As I remember, they can assess you a fee EVEN if you pay the entire balance current each month.....they do not like you borrowing THEIR $$$ at zero interest.

Fascinatingly, the gentleman who originally thought up all the ways to make money with credit card charges got tired of the mess, realized it was getting out of control, sold out and retired from the industry.

Most people do not, but really should, read all the FINE print...WOW! it is an eye-opener. Really proves that them what has the gold makes the rules.

And the late payment is who's fault? Going to cancel your card because they are honoring their agreement and you choose not to abide by the rules. I fail to see the logic in your argument.

Just go buy a house with a payment 3 to 5 times what you can afford, then get a home equity line to pay off the card(s) with. Once the cards are paid off, stick the taxpayers with the bum paper on the home. Your problem is your A. thinking too small and B. trying to be far too honest and trustworthy.

DITTO-DOTTO-DITTO------Look at it as a HUGE piece of mind for $39......JMO Sprefix

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Go big or stay home

Don't you know that you can't squeeze blood from a turnip?

Collection agency? They outlawed debtors prison a long time ago.

What they don't originally realize is that I have them by the short hairs which is the position they usually occupy.

I don't have revolving debt, I don't use them as a short term, never ending loan and usually pay the balance in full before the due date.

Just as the child w/divorced parents plays one against the other.

AAAR, 'eave to, assume the position n prepare to be boarded ye scurvy dawgs!

I don't feel too sorry for any of you. Pay cash. If you can't afford it don't buy it. The terms of the credit card was mailed to you, did you need to go with hold payment to find out how bad the charges were?

But don't worry, starting next month the Dems have protected you dead beats. No more big late fees. Instead people like me who pay on time see all fees and interest going up while my maximum has been decrease - even though I have perfect credit.

No wonder COF went down 0.86% today.

No offense, but I'm pretty sure they were up front about their fees and charges when you applied for your card. It's your responsibility to pay your bill on time, as agreed. It sucks that you're getting banged $39 for being late, but you can't blame them because you didn't keep your end of the bargain.

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Don't kiss smiling dogs!

Sometimes people don't understand that when they use a credit card (which THEY applied for) and don't pay it off each month, then the money owed is just like a loan (actually, it is).

There's interest, payment dates to be met, and late fees when the dates aren't met.

Now, in the OP, it seems when the borrower hasn't done what he agreed to do, somehow he and the company that loaned the money is the "bad guy" because it wants the borrower to simply do what he agreed to do.

No one made him USE ANY credit card and, if one doesn't do what one agreed to do (and all those fees are disclosed in the application or in those little letters about changes to the terms of your account), then that person has WELCHED and there just isn't any wiggle room.

And, BTW, I have been with Capital ever since they took over one of my first credit card companies, Bank of Virginia.

I was late about a year ago. Simply missed seeing the bill in the stuff on my desk. As soon as I realized it, I called them just like the OP.

Difference, at least for me, is that I had never been late before, and the CS Rep simply told me not to worry about it and removed the late fee.

But, if she hadn't, I'd have paid it because I owed it and I am just not going to be thought of as a welcher.

I used the card, I agreed to the terms and I am responsible if I somehow fail to live up to those terms.

Bob

" It's your responsibility to pay your bill on time, as agreed.."

All three of you have logical arguments.

I learned something from businesses.

Everything is negotiable.

If you bargain from a position of strength the odds are in your favor.

I just had a chat w/nice oriental gal named Maggie.

I wanted to know why the 5 days over on $137 wouldn't square us up if I paid the next months $400 bill three weeks early as I suggested yesterday.

She informed me that Cap1 policy is to charge a late fee after the second day.

I told her I fully understood Cap1 position, however I still wanted to know why the 5 days over on $137 wouldn't square us up if I paid the $400 bill three weeks early.

She assured me the late fee would be credited if I paid the four bills.

I told her I would pay online tomorrow and resume use of their card, effectively lifting the cancel order, when I received a statement from them showing a zero balance.

Once again truth, justice and the American way prevails over the evil that lurks as a fungus among us.

After firing a shot across their bow I stared them down.

They flinched and struck their colours.

It's me duty to keep them from plunderin' me booty.

Good! Now I hope my stock goes up on Monday.

The members who defended card companies totally lose sight of the fact that the companies change the due dates when they want, to create more income for them. They can also raise interest rates as they please. And do!

This is highway robbery, and greed personified. I have little sympathy for credit card companies.

Better not lose a job if you have credit card balances. The (bleepers) even had their toadies in Congress decide that anyone making over about $37,000 (amount varies where you live) can't declare bankruptcy. That would be humiliating enough for most of us, but if it's not even an option, your life will be a made in hell existence by creditors, for years. I've read several horror stories about that.

If you can't always pay off your balance that month, credit is hazardous to your financial and emotional health. I pay cash when I can. I strongly suspect that few who use cards could pay off their balances if they became unemployed. Something to consider, for the average man.

T-Star

Texas Star:

Assuming what you say is correct (and I might argue about one or two if it really mattered), remember:

It is the user of the card who applied, agreed to the terms, used the card and failed to do what he said.

It's a simple thing-you borrow money, you pay it back.

Doesn't matter who the lender is-if you borrowed it, you pay it back.

Turning the borrower into a victim is just a way to justify being a welcher who doesn't do what he agreed to do.

I realize there a folks who owe a lot of money on their credit cards-money they will never be able to pay in full because of the interest.

But, whose fault is it that they used the card? Some seem to say it is the Credit Card Company's fault-after all, if they hadn't given them the card, the borrower couldn't have used it.

So, since the CC Company is the "bad guy," it's okay not to pay.

That's silly. Some folks just don't do what they say they'll do.

I do understand about emergencies-but the OP's wasn't one, was it?

And, I understand trying to negotiate the debt, too. Or, bankruptcy, in some cases.

Bob

How many remember when Capital One offered their card with a 4.9% fixed rate for life? It was a short life.

No, I don't recall that. That would really be a stupid thing to do, though, since no one has a crystal ball to see what the future holds.

I have seen such interest rates for a certain period, often in an attempt to get users to transfer balances owed on other cards to a CC Company offering a lesser interest rate. Usually, the rate lasts less than six months.

Bob

I use my credit card for both personal and buiness. My bill for November was $41,0000. I paid the bill in full as soon as bill arrived. Chase Card service showed I paid bill promptly BUT did not release the $41,000 asavailable credit for 30 days. I called and was told it is policy because it might be a drug related transaction, go figure how many drug dealers accept or pay with credit cards ??
And because of the available credit on that card and 2 others I was down graded on my last credit check ,not because I owed anything or was ever late with payment ,but because I had the available credit. You work hard get a good credit rating, are offered credit beacuse you worked hard and paid your bills then hit in the mouth because you had the credit available.
The American credit system is pure BS at its best.

It's all good, Elvis lives on in concert, Happy Birthday King.

Maybe I need to charge sumpthin' in studded rhinestones.

Thank ya, ahh, thank ya very much...

I got rid of all my credit card's year's ago. If I cannot pay cash for something I dont get it. Easy credit is a self made trap that I fell into and once I dug myself out will never do it again. All I owe now is utility bill's and tax's. Now this dont mean I cant still be stupid with my money, it just means I wont have a monthly payment for said stupidity!

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Stay safe people!

Good credit is a lot like virginity: once it is gone it is gone forever. You can spend years trying to rebuild your credit and you will still never get there. I despise the credit card companies but realize that, for me anyway, they are a necessary evil. Try to buy a plane ticket, rent a car etc., without one... just ain't gonna happen. If I cannot afford something I just don't buy it.

I do however run lots of purchases through my one and only card for the 3% rebate I get. I get buyer protection and few other perks by using my Platinum Visa. The most important thing to do is pay it off in full EVERY month. If you do they don't make a dime off of you, they actually lose the 3% rebate(I am about $600 ahead over the last year). BTW: Never pay an annual fee. If it appears on your bill call them and demand they remove it or you will cancel the card. They'll drop the fee immediately. I follow with a promise to cancel the card if they EVER try to bill me an annual fee again. Haven't seen an annual fee in years.

If you ever get into a XXXXX contest with a CC company like the OP, document every conversation; date, time, who you spoke to, their bosses name and number etc.,. Follow up in writing and never assume the problem will just go away. If it comes down to "you said they said", you can easily loose and they have the power to seriously screw with your credit rating. Bottom Line: Know your obligations and live up to them or be prepared to face serious negative consequences. Two more cents worth. (o;

I asked Maggie for an ID number and she told me, but I couldn't understand her.


Then I hear her, "Echo, Charlie, Hotel, ***".


Roger that Maggie, loud n clear...

Only real advantage I see to credit cards is when you travel, either business or pleasure, lugging around cash-even travelers checks-not always such a great idea.
I agree, it's legalized loansharking, but you don't have to do business with them. Reminds me of the quote attributed to Calvin Coolidge when the question arose of either ameliorating or even forgiving the war debts
owed the US by our erstwhile Allies:
"They hired the money, didn't they?"

The wife and I have worked to pay off all of our credit cards. As soon as we paid one off, we cancelled the card. The heck of it is that BY PAYING OFF THE CREDIT CARDS OUR CREDIT RATING WENT DOWN. That's because one component of the credit score is the total of your available credit line.

We have no intention of getting back into the credit card business. I just can't see us contributing to the profitability of these banks. Many of whom are only in business due to the huge bailouts they received at the expense of American tax payers. We now have a cash emergency fund that we use for unbudgeted expenses.

Out West

You sound pretty cavalier about the whole situation....but I wouldn't ruin my credit for 39 bucks.

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Thirty characters. Exactly...

We have a winna!!!! I hate credit cards as much as the next guy and have fine honed my skills at fighting them in my bankruptcy practice.(edited) Did you ask to speak with a supervisor???? That usually does the trick as the line person usually does not have authority to reverse a charge except under a narrow range of circumstances-take your case to a higher up, use honey instead of vinegar and you'd be amazed at what you can get. And I do advise you to pay the $39 if all else fails. If you don't it will wreck your credit-cause what will happen is that you'll close your account, not pay, and after a few months they do a charge off and then you're REALLY screwed (actually the F bomb is more appropriate here )in that the next time you decide to get a loan for a car, house etc. you WiLL get bounced Trust me on this one. I have had to bite the bullet for the $39 payment on occasion because I screwed up-I take my licks-also I'm not too proud to grovel and kiss whatever to get it reversed, and more often than not I succeed.

Nick-just read your second post after I posted and you did exactly what I said above and you got your relief-that's the way to do it!!!!!!!!!!!!! Most people don't realize that you can get another person and usually plead out your case. No sense in giving up the booty if'n you don't have to
PS Don't be late again for at least 6 months or it ain't gonna work again

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Forum consigliere

Quick hint.
Do away with big bank or Capital One type credit cards and join a credit union. The credit union won't change things the way the big banks do.
I've got a low fixed rate.
I don't know what the finance charge is and don't really care. I pay it off before I get hit with a charge. I realize some people may have to use the card for emergencies and possibly carry a balance, but my opinion is that it should be used only for two scenarios.
1) As mentioned, emergencies.
2) For large purchases. But only if there's cash on hand to back up the purchase. With a credit card, such as Visa, you're better protected in case there's a problem with the purchase.

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Happiness is a warm 686

I had accumulated over $44,000.00 of debt between 4 credit cards and a bank line of credit. Most of it was to get back on my feet after a divorce which left me with just about nothing.

Over the ten years it took me to pay it off, I never missed a single payment, nor did I ever have a late payment. I paid back every dime I borrowed, plus a sinful amount of interest. During those years, several of those card companies raised ther "fixed" rates substantially. I will never be indebted to a credit card company again.

I have one card that I use for everything, and it is paid off in full every month. I get "Cabela's" points for every purchase. It is the same as using my checking account, except I pay everything off once a month instead of paying for every purchase throughout the month separately.

I am very proud of myself for paying off what I borrowed without any assistance whatsoever. I basically busted my butt working a lot and paying the creditors approx 1/2 of my income every month without borrowing any more. It sucked! Now it is gone, and I have never felt more free.

Pay what you owe and never carry a balance. That's my advice. If you can't afford it, don't buy it. An emergency is a whole other story.

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Freedom above all else.

She quoted me a year not to be late again or pay. I usually pay before it's due and I write the due date and amount on the outside of the envelope as a reminder.

It ain't over till ya pin both my shoulders to the mat for the three count coz I shore ain't gonna throw in the towel.

Might pull out a foreign object or a steel chair, but it's a lumberjack, steel cage, battle royal match and anything goes baby.

I thought about bustin' out a reverse pile-driver, I considered the figure four leg lock and the Boston crab, but in the end all I needed was a flyin' mare leading into a vertical suplex finishing w/the always devastating sitout full nelson atomic drop...

What's a credit card>>~~!??

This is how you can avoid late fees, whether because you forgot to send it in, it was delayed in the mail, or they held it on purpose past the due date: Set up an electronic automatic payment for the minimum amount due and schedule it for a week ahead of the due date.

What's a CC? Seems to be almost a necessity in the not so new anymore Millennium.


Barb, that's a good notion. I always resisted the urge to set-up auto-pay.

At times w/multiple cards it can be hard for me to keep up. I never activated Best Buy and I put another card w/it in hiding.

The dealio is I never had credit until mid-life(That's probably wishful thinking on my part). I can't just close one out w/o taking a hit.

I've worked very hard to get what credit I have in a few years.
Geeze Louise, I think I have eight active cards if I count the debit that I don't ever use.

I put off Academy coz I didn't want any more. In fact I'd like to cut some of the culls out of the herd. However, I buy ammo on occasions at Academy and now the Rossis.

They're the new K-mart of hunting & fishing that will compete on Waly-world prices and they sell handguns. Of course I have to drive into the crime ridden city.

Somewhat humorous that my first card was applied for over the phone to a store. I gave them my SS number and told them if they didn't send me a card that I would quit buying from them.

I think I was approved for a grand @ 24.99% interest. Not exactly catapulted into the higher echelon, but the pre-paid offers stop filling up the mailbox.

I felt like, "...Johnson, Navin R.! I'm somebody now! Millions of people look at this book everyday! This is the kind of spontaneous publicity - your name in print - that makes people. I'm in print!

Things are going to start happening to me now. "

To date everything says, "paid as agreed" and I like it that way.

Thanks for the tip...

Credit cards are a tool, like a gun or a hammer. They can do good things and make life better, if used correctly.

I charge more on my CC than, I have income. But I use no fee, rebate CC's, and balance pay every month.

I have never paid any fee's to anyone ever. I slipped up twice on the same CC twice in one year. Called them and spoke to the agent in a respectable manner and had all late fee's removed twice in a year.
No threats no yelling, just say I am sorry I am late can you help me out on this.

Next I pay phone, electric, fuel bills grocery's, anything I can.

Last year I received $700 cash back, a $50 Home Depot, and a $50 WallyWorld gift card. All because I used their money.

I have 800+ credit score, and can get a car loan in seconds if I need to. I haven't had a mortgage, in 10 years.

All my CC accounts are on autopay the full balance every month, through my Quicken software.

I have a truck loan on my 2009 GMC Sierra with Capitol One under 5%, because I can make more than that in bond/stock market. And I didn't need the loan I could have paid cash.

I carry more CC's than necessary, because When I retired at 54 I thought I was out of the good credit loop.

I have three cards I make one purchase on every year. If that credit is off the books, my credit score goes down.

Whats important about credit and credit scores.

Some car insurance, house insurance company's use your score to rate your policy. Employee's check your score as part of the decision to hire you or not. I am sure that your credit score is creeping into other parts of our lives, that we are not even aware of.

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My Mother likes me.

I have used cc's and find them a wonderful convenience. I pay each bill in full and do not carry a balance. I have paid the $15 telecheck to avoid a $90 late fee. I get bonus points to use at a favorite store; not much but something. Some people get their jollies yelling at cc employees but it almost always revolves around not paying your bill or not paying on time. If you cannot handle credit, don't worry, just don't use it. Pretty plain, pretty simple. But what does any of this have to do with guns?

Last time I checked I was a little better than 750. It's a slow climb from there to 800.

Short time vested in credit and financing nothing at the time being is denting me up a bit.

I'm stuck between financing an ATV or a motorcycle.

That or buying more firearms w/cash.


"But what does any of this have to do with guns? "

The 400 clams that I'm paying today, three weeks in advance, as an act of good faith and an extended olive branch was used to buy a gun.

Does that count?
----------------------
I received an e-mail from the friendly folks at Cap1 stating my bill was ready. It wasn't last night so I checked this morning.

Sure enough they had credited me w/my payment & stricken the 39 clams fee, loosening the chains of tyranny against me, allowing me unfettered economic freedom through plastic purchasing power.

Yes, I paid the 400 samolies early as agreed and we're back to square on the level.

Thanks Maggie...

i use a Visa that is from the same bank as my checking account. i can see all my activity every time i log into check my banking. havnt paid CC interest since i was a broke azz college kid. i put EVERYthing i possibly can on my CC. i get a few hundred dollars a year cash rebate from them. i also pay it multiple times during teh month as i get paid so it doenst get too big on me and also to make sure i have at least made the minimum

I work for another bank as a mortgage underwriter. I get calls from my clients frequently begging to make their house payment on the 3rd, 5th whatever. the only thing i can tell them is, "payment is due on the 1st, and late on the 15th. after the 15th a late charge applies, as you signed in your loan documents" youd be surprised how many people cant figure it out.

that leads me to my other favorite rant these days. as noted i work for regional bank, about 30 branches and maybe 1000 employees. Customers who could perfectly qualify for the loan they took whenever ( BTW we have never made a loan over 80% and ONLY do full doc underwriting) now people call up wanting a reduction in their rate, balance whatever. im like did you lose your job ? no ? then whats the problem with the contract you signed ? we have modified a lot of rates for people though.