Credit Cards

[psychic]

Saks Fifth Avenue's (HSBC) online payment policy states:  "The payment amount entered cannot be greater than the Current Balance + $50.00."  

What's interesting is that you can overpay by up to $50.00. 

Message Edited by psychic on 01-02-2009 05:02 AM

[marty56]

National City will credit a payment made on Sunday but not on Saturday.

[woopah]

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PurpleHaze wrote:
Several of you mentioned not being able to make a same day or weekend payment with BofA. The only way to make a same day/weekend payment is to go to their website https://www.myeasypayment.com. This is for one time payments only. I have had to use this site when I forgot to pay my bill in time on their website for it to post on the same day.

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When I pay through my personal bank's online bill-pay, the payments on I make on Friday always post on Saturday for my 2 BoA accounts.

[Mike14]

If I recall correctly, if a payment for Chase is scheduled for Sunday, it will be dated as Sunday, but will not post until Monday. I had a Chase account close with a HUGE balance after failing to realize this.

And as already stated, you can only pay Chase every 3 days.

Capital One's website states that you can schedule payments totaling up to 10% more than your balance, but I have never tried this.

Chase, Citibank, Discover, and WaMu all pull money from my ING account the following business day, so if the payment is scheduled on Friday, it posts on Friday, but my bank account is not debited until Monday. I am WAY too paranoid to use this to my advantage in any way. I make sure the amount of the scheduled payment is there the day it's scheduled to post.

Message Edited by Mike14 on 01-04-2009 03:11 AM

[Mike14]

WaMu makes you pay $15 to schedule a same-day payment, yet you can edit or delete it up until 11:59 pm the day it's scheduled.

Macy's uses their own instant pay thingy that takes forever (actually, just an unpredictable number of days) to both post to the account and be withdrawn from my bank. I don't like this unpredictability.

Message Edited by Mike14 on 01-04-2009 03:17 AM

[MattH]

One thing I have noticed is with many companies the only way to get instantaneous credit to the account is pay-by-phone with a fee of around 15 dollars, whereas paying online either by "pulling" from the CC side or "pushing" from the checking account side is free but takes a few days.  So the best advice generally is stay on top of all accounts (I check them all every weekend) to avoid getting close to any due dates.

Occasionally when I know I'm gonna be close on a due date for cash-flow reasons, I'll make two payments in a month on a card: one payment for the minimum scheduled for at least a week before the due date, and a second payment of the full balance scheduled for just before the due date.  That way, if the PIF does not get credited in time, all I have to pay is one month's interest on the balance and not any late payment fee (I hate paying those).  Maybe twice a year I'll end up paying a small amount of interest for this reason.  Other than such cases the only interest my wife and I currently pay is on our mortgage.

[mjbfan79]

That's why i always pay my account way before the the minimum payment is due. I have to many accounts now to try to worry about when the statement cuts so they want report the balance forget that all i'm trying to do is make sure i don't have any lates.

[MattH]

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mjbfan79 wrote:

That's why i always pay my account way before the the minimum payment is due. I have to many accounts now to try to worry about when the statement cuts so they want report the balance forget that all i'm trying to do is make sure i don't have any lates.

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Me too, though sometimes right after a major purchase I'll make an extra online payment of a little more than the purchase just to keep the balance down.

[jaysdad2k]

Discover:

It's Sunday the 4th. I have a cutoff date of the 9th, this Friday.

I go online to schedule a payment. So, how about the 6th, so it will hit (and PIF) before Friday? No go. All the future dates are grayed out. The only payment date available is today. So I had to pay today to make sure I PIF before Friday.

I wonder if I waited till tomorrow, Monday, it would have given me more days before Friday. But I didn't want to take a chance.

I call this a quirk for sure.

[haulingthescoreup]

Wow, that's a new one, for sure. They'll take payment immediately, but not in the future??