NFCU Cut Dates

[haulingthescoreup]

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Watchmann wrote:

Before the internet we all waited for the bill to arrive in the mail, wrote a check, mailed it in, and went on with life.  Now we live in a 24/7 world where accounts can be monitored constantly, yet more people are goofed up, overextended and in financial trouble than ever before.  Sometimes I wonder what all this connectivity really does for us. I certainly don't want to go back to a mail and check system, but things were certainly more relaxed before the internet came on the scene.   

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I definitely don't want to go back the the mail and check system. We live on a busy highway, and our mailbox has been raided in the past. We got a 30-day late on a gas card way back in the day for this very reason.

This wouldn't happen now, because I know when my statements are due to hit online. It's infinitely simpler for me. I haven't had a late payment since I switched to all-online. I work up to 70 hours a week, not counting fun time online, and I don't need to have some vague question in my mind about whether such-and-such shouldn't be showing up right about now.

I'm glad that movable dates aren't an issue for you. But of course, your situation isn't necessarily that of everyone else. Chacun a son gout.

[smallfry]

Took 5 years of Spanish and had to Google that one.

[haulingthescoreup]

lol, I can see why, since it's French!

I started out in Spanish, but I can't roll my rrrr's to save my neck. The best I could come up with was a pathetic durdle-durdle-durdle sound. Too embarrassing.

[smallfry]

I know.

[haulingthescoreup]

Sorry, didn't mean to sound patronizing, that came out all wrong.

[creditwherecreditisdue]

Chacun a son gout

is closely related to:

Dei gustibus non disputandum est

Sorry about that...

[Anonymous]

Kinda a dumb question, and I understand the need for a set cut/due date.

but if the bank/cu set a date and it falls on a weekend or holiday- how are you going to make the payment?

I mean I understand that you all have a different use and maintenance goal then Joe Consumer, but realistically for most people a weekend or holiday due date means they  would unofficially have to make the payment early so it will be credited on time, or its late.

And for the Banks/CUs that would be a bigger PR issue then anything else.

Could you imagine: "XXXX bank charged me a late fee but I could not make the payment as it fell on a Sunday of a Holiday weekend. how unfair."

I have a Chase card, I cannot make a cash payment to them at 0901 on a saturday that will be credited before Monday.

Heck anything after 4:00PM Friday does not go through until the next week.

My online Bill Bay through USAA and NFCU all does not include a weekend or holiday date availability.

Actually I do have a card that keeps the same date and it does go to a weekend and I do have to make an "early" payment on line the 22nd even though it is not due until the 24th just to be sure I am not late.

I understand it does not suit your needs, but see how it has to be done.

(Granted we all were getting bonus time when they were moving the date farther along for holidays and weekends but hey)

[Anonymous]

Happy Friday! 

My personal habit with my plastic is to make my statement date my due date. I know what I spend and when the statements cut. I do use different cards for different times of the month. I even have written the day of the month the statement cuts next to the sig on the back of the card as a reminder. I make sure that any card that I don't want to report a balance is PIF at least a week before the statement is due to cut to account for lag time in the funds transfer and posting.

A nice advantage to this system is by making my payment on the statement date I am building in a 3 week buffer in case of unforeseen financial hiccups. I do realize that everyone's situation is different. Just saying this works for me.

Have a great weekend everyone!

CB

[creditwherecreditisdue]

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@Anonymous wrote:

Kinda a dumb question, and I understand the need for a set cut/due date.

but if the bank/cu set a date and it falls on a weekend or holiday- how are you going to make the payment?

I mean I understand that you all have a different use and maintenance goal then Joe Consumer, but realistically for most people a weekend or holiday due date means they  would unofficially have to make the payment early so it will be credited on time, or its late.

And for the Banks/CUs that would be a bigger PR issue then anything else.

Could you imagine: "XXXX bank charged me a late fee but I could not make the payment as it fell on a Sunday of a Holiday weekend. how unfair."

I have a Chase card, I cannot make a cash payment to them at 0901 on a saturday that will be credited before Monday.

Heck anything after 4:00PM Friday does not go through until the next week.

My online Bill Bay through USAA and NFCU all does not include a weekend or holiday date availability.

Actually I do have a card that keeps the same date and it does go to a weekend and I do have to make an "early" payment on line the 22nd even though it is not due until the 24th just to be sure I am not late.

I understand it does not suit your needs, but see how it has to be done.

(Granted we all were getting bonus time when they were moving the date farther along for holidays and weekends but hey)

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SEC. 106. RULES REGARDING PERIODIC STATEMENTS.

(a) In General- Section 127 of the Truth in Lending Act (15 U.S.C. 1637) is amended by adding at the end the following:

‘(o) Due Dates for Credit Card Accounts-

‘(1) IN GENERAL- The payment due date for a credit card account under an open end consumer credit plan shall be the same day each month.

‘(2) WEEKEND OR HOLIDAY DUE DATES- If the payment due date for a credit card account under an open end consumer credit plan is a day on which the creditor does not receive or accept payments by mail (including weekends and holidays), the creditor may not treat a payment received on the next business day as late for any purpose.

[smallfry]

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@Anonymous wrote:

Kinda a dumb question, and I understand the need for a set cut/due date.

but if the bank/cu set a date and it falls on a weekend or holiday- how are you going to make the payment?

I mean I understand that you all have a different use and maintenance goal then Joe Consumer, but realistically for most people a weekend or holiday due date means they  would unofficially have to make the payment early so it will be credited on time, or its late.

And for the Banks/CUs that would be a bigger PR issue then anything else.

Could you imagine: "XXXX bank charged me a late fee but I could not make the payment as it fell on a Sunday of a Holiday weekend. how unfair."

I have a Chase card, I cannot make a cash payment to them at 0901 on a saturday that will be credited before Monday.

Heck anything after 4:00PM Friday does not go through until the next week.

My online Bill Bay through USAA and NFCU all does not include a weekend or holiday date availability.

Actually I do have a card that keeps the same date and it does go to a weekend and I do have to make an "early" payment on line the 22nd even though it is not due until the 24th just to be sure I am not late.

I understand it does not suit your needs, but see how it has to be done.

(Granted we all were getting bonus time when they were moving the date farther along for holidays and weekends but hey)

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Cut date.