My son is in college and he got his first credit card this past July. It is with citibank. He has a credit limit of 2500.00. He informed me today that he had a balance of a little over 600.00 that he has been paying on. He got his new statement online today and it showed that there was a payment of 612.00 applied to his account and that he had a credit line of 3700.00. Well he didn't make a payment and doesn't know why there was a CLI. What should he do? Of course you know what we want him to do, but I don't want them to straighten this out and have him miss a payment in the mean time and hurt his credit. Any suggestions?
They are not showing a payment due because there was a 612.00 payment made. There is no other activity on the card besides a payment being made.
There has been no money withdrwan from his bank account. I will advise him of this and have him call on monday. I would hate to have this turn into a big mess for him beacause he is learning to be responsible for his own finances and credit. When you say "freeze his account", what does that actually mean?
IF Citi comes to the conclusion that fraud is involved they will most likely close the account number and issue him another card. What day was the supposed payment made? If it was on Friday it might not show up in his checking account until sometime Monday. Can he cover this ACH if it does hit his checking account? He doesn't have to wait until Monday to call. His bank might have info on any pending ACH payments too so I would call them today as well. If his due date is close I would advise he at least make a minimum payment now to cover himself.