Walmart statements...

[lownav67]

By the letter of the law, the following is the FTC Rule for businesses that offer open-ended credit:

Provide a statement for each billing period in which you owe — or they owe you — more than one dollar or on which you have been charged a finance charge.

So, in that sense, Wal-Mart would be operating within the law by not generating a statement with any zero balance (if no finance charge was part of that statement).

However, the reason businesses still produce a statement if there is any activity on the account is to protect themselves against potential violations of the Fair Credit Billing Act. They need to allow the credit consumer the opportunity to take advantage of the law's consumer protections in terms of disputes. Consumers have the right to dispute charges that list the wrong date or amount, unauthorized charges, charges for goods/services not delivered as agreed, math errors, failure to post all payments and return credits, etc.

If a company did not produce a statement, and there were errors under the FCBA that the consumer was not made aware of due to a lack of statement, and therefore was not provided the information and opportunity under the law to dispute, they could open themselves up to FTC penalties and consumer lawsuits. In other words, how can you know about and dispute a billing error if you never receive a bill.

Perhaps there is something in the very small print of the card rules they make their customers electronically agree to that says by submitting your payment electronically you are agreeing that you do not dispute anything related to what you are submitting payment for, and by doing so you are waiving your rights under the FCBA in terms of any future dispute for anything related to charges covered by that payment (I don't know).

But, I have found I always get a statement from a credit card company for any activity that month (including Wal-mart), even in the instances where I choose to pay the balance to zero before the end of the billing cycle. However, if there is nothing posted/no debit or credit activity at all I do not.

[TRC_WA]

Thanks for the info everyone!

[SunriseEarth]

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@BootStraps wrote:

I have found that paying down under a dollar will still generate a statement. Leaving a  10 cent balance will generate a statement and will report to the bureaus as a zero balance.

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+1.  That's what I'm doing to generate Wally statements

[TRC_WA]

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@SunriseEarth wrote:

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@BootStraps wrote:

I have found that paying down under a dollar will still generate a statement. Leaving a  10 cent balance will generate a statement and will report to the bureaus as a zero balance.

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+1.  That's what I'm doing to generate Wally statements

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That's what I'll do then to get the best of both worlds.

[bk510]

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@TRC_WA wrote:

Walmart doesn't generate a statement if you have no usage and a $0 balance...  I learned that a few months ago.

What if you have transactions post to your account and PIF before the statement cut date?  Do you get a statement or no?

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1. this has been my xperience as well.

2. yes, statement cuts if u pif b4 statement cuts (again, this has been my xperience with wally and amazon.)

[bk510]

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@waynes1982 wrote:

I didn't receive a statement for the end of may, and there was activity, but the balance was $0.  So I'm thinking that if the statement results in a $0 balance, then they won't produce a statement.

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Quite the opposite of mine.

[wacdenney]

I just got a $500 CLI on my Wally about 2 weeks prior to my third statement.

[bk510]

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@baller4life wrote:

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@BootStraps wrote:

I have found that paying down under a dollar will still generate a statement. Leaving a  10 cent balance will generate a statement and will report to the bureaus as a zero balance.

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Bingo!! That is the trick with Walmart. As long as you leave a balance, any balance you win a statement!

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They still know how much you spent on any given months, so I dont really worry about "winning" a statement.

They still grant you auto luv, what ever the case may be....as long as you pif.

[bk510]

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@mongstradamus wrote:

Walart was kind of weird i hadn't used my walmart card at all since early november. I got one auto cli and one sp cli from them without even using their card or producing an statement. Some times these ccc seem to have no rhyme or reason with how they give out cli 

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+1