BOA hits you with late fee when you pay too early...what the #@#k !!!!

[Anonymous]

check this out !

http://www.bankofamericasux.com/viewtopic.php?f=2&t=2842&sid=512741aafe8f4eb5ff92596285e3731b

[MidnightVoice]

Seems weird - the poster may well be witholding part of the story as suggested.

Most of my CCs get multiple payments some months 

[Anonymous]

I do really wonder if this could be true !..I was gonna make an early payment Monday but now no way !

did anybody in this forum encountered this before ?

[Watchmann]

Gee, I wonder if a post on a site called 'bankofamericasux.com' has a bit of bias?  There could very well be a lot more to this story than we have been told.  I routinely pay my BoA account early, and have never had a problem.

[Geordi]

Did not review the link but I don't need to.

I have had 2 different Bank of America accounts for 2 years.  Always PIF within 6 days of making ANY charges, thus the statement NEVER has a balance.

Never any Adverse Actions of ANY kind.

Message Edited by Geordi on 10-18-2008 08:44 PM

[Scamp]

What does the poster in that story not comprehend?  The payment made on the 5th of the month was pre-statement; statement was cut on the 12th, and a new 'payment due' was generated at that time. 

Apparently, he/she failed to pay anything again before the date that payment was due.  Ergo, he/she was late on that payment = late fee. 

OP, if your statement has cut and you have a payment due, go ahead and make your cc payment.

If your statement hasn't cut yet, and you want to make a payment early to get your balance down a bit more before it reports to the CRAs, go ahead and do that, just realize that you'll still/again have a payment due AFTER the statement cuts, and be sure to pay that as well, before the due date. 

[Anonymous]

I assume  that your explanation is 100% correct !

I ll go ahead and pfi Monday see what happens..!

[wmarat]

I do not know if it is true or not, but I've been paying earlier my 2 CC from BOA for 2.5 years and never been hit by late fees or stripped prom offers.

[Anonymous]

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scapegrace13 wrote:

What does the poster in that story not comprehend?  The payment made on the 5th of the month was pre-statement; statement was cut on the 12th, and a new 'payment due' was generated at that time. 

Apparently, he/she failed to pay anything again before the date that payment was due.  Ergo, he/she was late on that payment = late fee. 

OP, if your statement has cut and you have a payment due, go ahead and make your cc payment.

If your statement hasn't cut yet, and you want to make a payment early to get your balance down a bit more before it reports to the CRAs, go ahead and do that, just realize that you'll still/again have a payment due AFTER the statement cuts, and be sure to pay that as well, before the due date. 

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scapegrace, I totally agree with you and am not really seeing what others aren't understanding here.

The statement would have posted on the 12th, would have mentioned the payment made on the 5th as a transaction during the PREVIOUS CYCLE, and would have said basically "please pay $X by X-date"

Statements summarize activities during the previous cycle, and say basically "based on that activity, this is what you owe us now, by this date."

If you Paid in Full before the statement cut, clearly the minimum due is going to be $0, so you are all set.  If you have a balance when the statement cuts, then there is going to be a minimum amount due by a certain date, regardless of whatever payments you've made previously.  The minimum due is going to be calculated based on the statement balance at the time the statement cuts.

[marty56]

The same thing happend to me where I paid the minimum payment before that statment droped so they counted that as a double payment and charged me a late fee

(they waved after I protested it).

As the Jacred said, PIF is always ok no matter when the payment is due.