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beenthere wrote:Are there some cards that don't have grace periods for payments due? Most cards have a 25 day grace period but I don't see a word about grace periods on this new Hooters card.
beenthere wrote:Are there some cards that don't have grace periods for payments due? Most cards have a 25 day grace period but I don't see a word about grace periods on this new Hooters card.
cheddar wrote:.........I have seen sub-sub-subprime cards that offer no grace period, i.e., interest begins accruing on each purhase immediately, regardless of whether you PIF.
llecs wrote:
cheddar wrote:.........I have seen sub-sub-subprime cards that offer no grace period, i.e., interest begins accruing on each purhase immediately, regardless of whether you PIF.What?! Holy cow! It's not the new Visa backed by the mob, is it? (If you are in the mob, I hear its a great service organization).
You know, the more I think about it, I don't think it was a major card (Visa/MC). I seem to remember it being one of those merchandise cards where they say "Hey, we'll give you a credit account that you can use to buy overpriced crap from our catalog, and we'll report your payment history to our own internal credit bureau, so if you ever want any other lender to see your report, just have them write to us! Oh, by the way, no grace period."
llecs wrote:Hopefully no other CCC sub-sub-prime or otherwise catches onto that...would hate to see a trend involving that.
Sylviatob wrote:
Applied Bank(formerly Cross Country Bank) cards do not have grace periods. None, zero, zilch.
Interest starts accruing the day you charge something on it.
A good card to stay away from.
On another note, I've noticed over the past month, that some of the cards we have, have sent amendments to the T&C's dropping the grace period down to 20 days. BoA I THINK it was, but can't be sure.
May be a growing trend, sadly to say.