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Okay, this post isnt to rant, it is to warn. Evidently, I missed this info somewhere, so I am telling my situation,so that it doesn't happen to anyone else....
If you haven't looked at your JCP account online lately, do so...
I have had an account for approx. 5 years...my payments have always been due on the 3rd..well this month, I paid on the 3rd as usual..then I logged in a few days ago, to see my available credit..and it says a payment is due 11/27..I'm like what? I just paid like I always do, on the 3rd...So I send a message to customer service, thinking maybe it was a glitch....
I sent message on the 25th, as soon as I saw it. I sent them a second message this morning, because they charged me a $35 late fee, since I didnt make another payment by the 27th. They just responded today, which is not like them, I am sure the holiday slowed them down...but the rep informed me that now...
"We recently made a change where your payment due date will always be 23 days after your account bills. The due date is determined by adding 23 days from the current billing date. This change will allow time for you to receive your statement in the mail and make your payment."
So that means, that I had to pay twice this month...which didn't actually help, it actually caused me to default. Had I not logged in, I wouldnt have known it. Nonetheless, the nice lady, did credit the account for the $35 late fee, but of course, now I have to make another payment, of $70....and I am assuming my payments will now be due on the 27th of each month instead of the 3rd then....
anyone else had this issue?
I always check for the due date on each and every bill month after month and note it down on my "Finance Diary" to plan the payment dates.
I never assume due dates.
The best way to deal with paying CCCs and infact any debt is to make a spreadsheet where the columns are paycheck date and the rows are each bill. I get paid bi-weekly so I pay my mortgage with the paycheck closest to the 1st and the other bills with the next payhceck. I also schedule the payments to be made on payday.
If your CC has online account monitoring, you should check it once a day. Also you may want to set autopay up for either the full amount or minimum.
We are all trying improve our credit and these days there really isnt a reason to be late and 1000's of reasons to pay on time.
GEMB did this with all their cards I believe - I have CareCredit and JCP and both have 'moving target' dues dates now from very set dates. I am planning on paying off the CareCredit in January or February even though it has 0% until September. Better than chancing a late. JCP I don't carry a balance on so even if I don't PIF before the statement date (because it moved) I'm still not late.
They also removed any 'opps period'. If it isn't paid by the due date - it is late and will be reported as such.
Really makes me not want to use the cards...
Because I always check online and see transactions and payments as they post, I rarely look at any CC statement. However, when the statement closes I always look at the due date and amount because after having cards for nearly 10 years I've seen the way due dates move around, even on accounts that have never had their due date change.
I always:
look at the due date and amount when the statement closes because you never know when the CC company will change it.
Pay my CC's when I get paid, not 1 or 2 days before it's due. If there's a glitch in a system or a CC decides they want to wait 2-3 days to post a payment, my min. payment's already been paid because I paid when I got paid.
Not that I think it's right for the CC companies to do what they've been doing, changing due dates with little notice, taking longer to post payments, but as consumers, especially in an economy such as this, we need to make sure that if the CC does change a due date or does taking longer to post our payments, we've protected ourselves by making sure we have that info ahead of time.