Credit Card payment dates

[buzzaro]

Anyone else notice the due date change on their credit cards? My wife and I each have one that we use regularly and in the last two months both of them moved the due date up by about a week without notice. Citicards told me it was "doing me a favor" by changing it automatically when they noticed I paid early. Now my wifes GMAC card did the same thing, Im on hold with them now to get to the bottom of this.

[OverKill]

Sounds like BS to me, the credit card companies are starving and want to make interest on your dollar. Sooner you pay the sooner they get to make more money on your money. Fight it and if they don't budge close the account and move on.
OverKill

[Magic34]

Many of the banks are in trouble right now. Bank of America is going to many of their business owners who pay everything on time and asking them to pay off their line of credits. It happened to someone I know. They have a $200k line of credit with thier biz and BofA and have NEVER been late on a payment and their credit is perfect. BofA asked them to pay the debt completely off.
There are contracts in place where the borrower does not need to do that, however, it doesn't keep them from at least asking.
In the BofA case, they have gotten hurt on all of those home loans they did with zero down, etc.
I am guessing that many people are over-extended therefore bringing up the $$ borrowed on the card, and they (company)needed more cash flow earlier in the month because the debts to customers are so outstanding right now.

[buzzaro]

Sounds like BS to me, the credit card companies are starving and want to make interest on your dollar. Sooner you pay the sooner they get to make more money on your money. Fight it and if they don't budge close the account and move on.
OverKill
Citicards changed it back to the original date and locked it there no problem, GMAC wouldnt give information to me over the phone because its my wife's acct. They would, however, take money from me for payment over the phone no problem.

[OverKill]

I see GMAC is that General Motors?? Reason I ask is we are going with GMAC for our truck tommorow. If they are a shaydy company I need to know so I can steer clear of them.

[buzzaro]

I see GMAC is that General Motors?? Reason I ask is we are going with GMAC for our truck tommorow. If they are a shaydy company I need to know so I can steer clear of them.
Other than this issue here, weve had no problems them. If they allow me to pay my bill on time (which weve never been late and always paid fully), then it wont be that big of an issue and just a pain in the ass. If they insist that theyve done no wrong and try and stick me for a late fee, then I will dump that card before the end of the day tommorrow. Ill post as soon as I find out, have to wait for my wife to call them though.

[OverKill]

So is it General Motors Corp.?

[DelawareDave]

So is it General Motors Corp.?
GMAC= General Motors Acceptance Corp. That's what it used to be, anyway.

[Sleek-Jet]

If you read the fine print on you terms and conditions, most CC's bill on something like a 26 day schedule or some BS like that... so when the billing cycles get far enough away from the payment date, the "re-adjust" the payment date to a new time of the month...
You gotta watch them... it's pretty much designed to get you to pay late once and they can hit you with the default interest rate.

[buzzaro]

So they ended up letting us pay by phone. They are still gonna charge the $15 phone fee but then credit it back although why wouldnt they just waive the fee altogether:idea: . I am still tempted to get rid of them but my wife loves them (so she says). She always pulls this crap though. When we got married, AAA wouldnt insure me becuase of my driving record and raise her rates on top of that. My crazy wife insisted they were a great company and didnt want to change............we have Allstate for all of our insurance now:D

[voodoomedman]

I moticed with my home loan thru WellsFu(kYou, that as soon as I make the payment the next one comes immediately. Meaning-> I expecting the October payment in a few days now? WTF
Rio
They all do that. WaMu does that to me. I pay my bills when they come in the mail so I don't have to worry about when they are due and have stacks of bills and such. I have to keep a special place for the mortgage though because as soon as you pay the bill you get the next invoice a week later even though it's not due for 2 months.

[skygod73]

If you read the fine print on you terms and conditions, most CC's bill on something like a 26 day schedule or some BS like that... so when the billing cycles get far enough away from the payment date, the "re-adjust" the payment date to a new time of the month...
You gotta watch them... it's pretty much designed to get you to pay late once and they can hit you with the default interest rate.
This is exactly what it going on. They are setting you up for future late fees and the higher rate that comes with being late. Late fees are a huge profit center for CC companies. I have secured simple int notes I've created and I love it when clients pay me late...free money for me. I don't resort to the chicken shit tactics CC companies use though.

[HocusPocus]

If you read the fine print on you terms and conditions, most CC's bill on something like a 26 day schedule or some BS like that... so when the billing cycles get far enough away from the payment date, the "re-adjust" the payment date to a new time of the month...
You gotta watch them... it's pretty much designed to get you to pay late once and they can hit you with the default interest rate.
i read an interesting article about this awhile back and it was stating how many millions these CC companies get from late pays with this practice.

[AZJD]

It's a little trick they play called a 30 day billing. Gets them more interest an extra payment every year.........

[My Man's Sportin' Wood]

http://www.***boat.com/ubb/graemlins/idea_2.gif I have a citicard. I'm going to have to check it now.

[HighRoller]

Credit Card companies now make 2 out of every 5 dollars on late and overlimit fees. My wife's CC tried to charge her a late fee of 39 f-in dollars because they said her payment arrived late when it arrives 10 days early every month on auto debit. They will try anything to get an extra dollar in the door and, yes, once you get dinged for a late payment they jack you to the max interest. Many banks have a max rate of 33%!!!
The fact is that even with 6 billion offers going out each year (that's 20 offers for every man, woman and child in the US) they still can't get more revenue from new subscribers because they have suffocated and saturated the market. So the only alternative is higher fees and shady tactics to get you to pay them. Better not miss a payment on ANYTHING or they can jack your rate. Gotta love universal default. And if anyone doubts how the banks look at you, someone who pays their CC balnce in full every month is called a "deadbeat" in bank vernacular. WHAT'S IN YOUR WALLET?
My solution? Debit card with cash back. The interest rate on my own money somehow always stays at zero and I never have a revolving balance. Imagine that.:D

[scooooter7]

Pay the balance off monthly = no finance charge and they call you a deadbeat
Watch out for Discover Card = DOUBLE BILLING (they charge you finance charge twice a month)

[lawbreaker2]

No cards, :D But when I tried to rent a car, they said they needed a credit card,:idea: I call BS. on all this crap.. I don't want no cards, the only card I have is a paypal, thats it.