Senior Contributor
score_building
Posts: 3,577
Registered: ‎01-10-2008
Re: Oh no! Paid BOA 99/500 card late!

JSmitty wrote:

gpeach wrote:
Yeah you have to watch BofA. My date changes a lot. I did that one month too. It was due on the 6th for a four months straight. Then it changed to the 5th. So I paid one day late too once. Now it is the 11th. Sometimes it is due on a Sunday so be careful of that too. I wonder if they do that on purpose to see if you are paying attention.
This scam isn't talked about enough on this forum or in the media and BoA is the worst offender. Congress should forget about regulating interest rates and start with tackling more common problems like this one. I pay my CCs off every week or so, so I personally don't have this problem. But I've seen how easily it can happen if you wait until the day your payment is due. 
I know that with Discover, I can change my due date to any day of the month I want. I think more banks should follow.

 


issuers, notably amex, who has taken AA in some cases do not like this so much either apparently.  it can be viewed as excessive if you're paying off at posting every few days, it is supposedly ideal to pay once before the reporting date which is often the statement date. 

 

issuers do track payment patterns and can use the info to arrive at conclusions about your current level of risk.  in some cases, it is safer to do like the Jonses and apparently their most reliable customers usually pay once monthly.

FICOS:
06/13 EX 765 (PSECU) EQ 771 (DCU) TU 779 (Barclays)